EASYFENCE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EASYFENCE
Largest movements
- Receivables within one year +€916,643
up €916,643 (+569.4%), from €160,978 to €1.1m
of which Trade receivables: +€899,717
- Stocks and contracts +€622,857
up €622,857 (+45.8%), from €1.4m to €2.0m
of which Stocks: +€771,260
- Intangible fixed assets -€109,437
down €109,437 (-22.8%), from €479,715 to €370,278
- Tangible fixed assets -€90,703
down €90,703 (-17.0%), from €534,299 to €443,595
of which Furniture and vehicles: -€80,273
- Debts after one year +€1.1m
up €1.1m (+153.2%), from €738,900 to €1.9m
of which Other amounts payable: +€1.2m
- Short-term financial debts +€563,900
up €563,900 (+1562.0%), from €36,100 to €600,000
- Reserves -€305,251
down €305,251 (-72.9%), from €418,681 to €113,429
- Trade debts -€249,933
down €249,933 (-19.8%), from €1.3m to €1.0m
- Tax, wage and social debts +€225,294
up €225,294 (+161.0%), from €139,938 to €365,232
of which Taxes: +€160,272
- Staff costs +€243,587
up €243,587 (+33.7%), from €722,155 to €965,742
- Gross operating margin -€197,861
down €197,861 (-15.8%), from €1.3m to €1.1m
- Depreciation +€59,135
up €59,135 (+23.9%), from €247,030 to €306,165
- Write-downs -€32,058
down €32,058, from €31,846 to -€212
- Taxes -€32,042
down €32,042 (-96.3%), from €33,276 to €1,234
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,661,872 | €4,031,993 | +€1.4m | +51.5% |
| Fixed assets | 21/28 | €1,052,534 | €852,394 | -€200,140 | -19.0% |
| Intangible fixed assets | 21 | €479,715 | €370,278 | -€109,437 | -22.8% |
| Tangible fixed assets | 22/27 | €534,299 | €443,595 | -€90,703 | -17.0% |
| Land and buildings | 22 | €144,239 | €119,216 | -€25,022 | -17.3% |
| Plant, machinery and equipment | 23 | €127,430 | €142,022 | +€14,592 | +11.5% |
| Furniture and vehicles | 24 | €262,630 | €182,357 | -€80,273 | -30.6% |
| Financial fixed assets | 28 | €38,520 | €38,520 | = | 0.0% |
| Current assets | 29/58 | €1,609,338 | €3,179,599 | +€1.6m | +97.6% |
| Stocks and contracts in progress | 3 | €1,359,587 | €1,982,444 | +€622,857 | +45.8% |
| Stocks | 30/36 | €1,211,184 | €1,982,444 | +€771,260 | +63.7% |
| Contracts in progress | 37 | €148,403 | €0 | -€148,403 | -100.0% |
| Amounts receivable within one year | 40/41 | €160,978 | €1,077,620 | +€916,643 | +569.4% |
| Trade receivables | 40 | €148,150 | €1,047,867 | +€899,717 | +607.3% |
| Other amounts receivable | 41 | €12,828 | €29,753 | +€16,925 | +131.9% |
| Cash at bank and in hand | 54/58 | €61,461 | €101,671 | +€40,210 | +65.4% |
| Deferred charges and accrued income | 490/1 | €27,313 | €17,864 | -€9,449 | -34.6% |
| Total equity and liabilities | 10/49 | €2,661,872 | €4,031,993 | +€1.4m | +51.5% |
| Equity | 10/15 | €448,681 | €143,429 | -€305,251 | -68.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €418,681 | €113,429 | -€305,251 | -72.9% |
| Distributable reserves | 133 | €418,681 | €113,429 | -€305,251 | -72.9% |
| Amounts payable | 17/49 | €2,213,191 | €3,888,564 | +€1.7m | +75.7% |
| Amounts payable after more than one year | 17 | €738,900 | €1,870,964 | +€1.1m | +153.2% |
| Financial debts | 170/4 | €256,348 | €214,085 | -€42,264 | -16.5% |
| Other amounts payable | 178/9 | €482,551 | €1,656,880 | +€1.2m | +243.4% |
| Amounts payable within one year | 42/48 | €1,474,292 | €2,017,599 | +€543,308 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €38,217 | €42,264 | +€4,047 | +10.6% |
| Financial debts | 43 | €36,100 | €600,000 | +€563,900 | +1562.0% |
| Credit institutions | 430/8 | €36,100 | €600,000 | +€563,900 | +1562.0% |
| Trade debts | 44 | €1,260,036 | €1,010,103 | -€249,933 | -19.8% |
| Suppliers | 440/4 | €1,260,036 | €1,010,103 | -€249,933 | -19.8% |
| Taxes, remuneration and social security | 45 | €139,938 | €365,232 | +€225,294 | +161.0% |
| Taxes | 450/3 | €48,132 | €208,404 | +€160,272 | +333.0% |
| Remuneration and social security | 454/9 | €91,806 | €156,828 | +€65,021 | +70.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €722,155 | €965,742 | +€243,587 | +33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,030 | €306,165 | +€59,135 | +23.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,846 | -€212 | -€32,058 | |
| Other operating charges | 640/8 | €31,468 | €35,064 | +€3,596 | +11.4% |
| Gross operating margin | 9900 | €1,250,015 | €1,052,154 | -€197,861 | -15.8% |
| Operating profit (loss) | 9901 | €217,517 | -€254,604 | -€472,121 | |
| Financial income | 75/76B | €8,768 | €3,990 | -€4,778 | -54.5% |
| Recurring financial income | 75 | €8,768 | €244 | -€8,524 | -97.2% |
| Non-recurring financial income | 76B | - | €3,746 | +€3,746 | |
| Financial charges | 65/66B | €32,518 | €53,403 | +€20,885 | +64.2% |
| Recurring financial charges | 65 | €31,964 | €53,403 | +€21,440 | +67.1% |
| Non-recurring financial charges | 66B | €554 | €0 | -€554 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €193,767 | -€304,017 | -€497,784 | |
| Income taxes | 67/77 | €33,276 | €1,234 | -€32,042 | -96.3% |
| Profit (loss) for the period | 9904 | €160,491 | -€305,251 | -€465,742 | |
| Profit (loss) for the period to be appropriated | 9905 | €160,491 | -€305,251 | -€465,742 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.