EBELCO: what changed
Two financial 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.
EBELCO
Largest movements
- Cash +€42,113
up €42,113 (+64.9%), from €64,887 to €107,000
mainly Depreciation (+€45,691) and Other debts (+€39,351)
- Tangible fixed assets -€41,029
down €41,029 (-4.0%), from €1.0m to €986,703
- Other debts +€39,351
up €39,351 (+239.5%), from €16,428 to €55,779
- Reserves -€33,390
down €33,390 (-6.9%), from €482,525 to €449,136
of which Distributable reserves: -€33,390
- Gross operating margin +€16,577
up €16,577 (+11.9%), from €139,250 to €155,827
- Financial charges -€7,241
down €7,241 (-16.0%), from €45,165 to €37,924
- Taxes +€6,029
up €6,029 (+237.5%), from €2,539 to €8,567
- Financial income -€4,245
down €4,245 (-91.2%), from €4,656 to €411
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 | €1,107,964 | €1,110,835 | +€2,871 | +0.3% |
| Fixed assets | 21/28 | €1,027,731 | €986,703 | -€41,029 | -4.0% |
| Tangible fixed assets | 22/27 | €1,027,731 | €986,703 | -€41,029 | -4.0% |
| Land and buildings | 22 | €987,523 | €967,865 | -€19,658 | -2.0% |
| Plant, machinery and equipment | 23 | €2,408 | €1,290 | -€1,118 | -46.4% |
| Furniture and vehicles | 24 | €23,335 | €4,158 | -€19,177 | -82.2% |
| Other tangible fixed assets | 26 | €14,466 | €13,390 | -€1,076 | -7.4% |
| Current assets | 29/58 | €80,233 | €124,132 | +€43,899 | +54.7% |
| Amounts receivable within one year | 40/41 | €10,000 | €11,556 | +€1,556 | +15.6% |
| Trade receivables | 40 | - | €10,198 | +€10,198 | |
| Other amounts receivable | 41 | €10,000 | €1,358 | -€8,642 | -86.4% |
| Cash at bank and in hand | 54/58 | €64,887 | €107,000 | +€42,113 | +64.9% |
| Deferred charges and accrued income | 490/1 | €5,346 | €5,576 | +€230 | +4.3% |
| Total equity and liabilities | 10/49 | €1,107,964 | €1,110,835 | +€2,871 | +0.3% |
| Equity | 10/15 | €544,025 | €510,636 | -€33,390 | -6.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €482,525 | €449,136 | -€33,390 | -6.9% |
| Non-distributable reserves | 130/1 | €14,795 | €14,795 | = | 0.0% |
| Legal reserve | 130 | €14,795 | €14,795 | = | 0.0% |
| Distributable reserves | 133 | €467,731 | €434,341 | -€33,390 | -7.1% |
| Amounts payable | 17/49 | €563,939 | €600,199 | +€36,260 | +6.4% |
| Amounts payable after more than one year | 17 | €530,000 | €530,000 | = | 0.0% |
| Financial debts | 170/4 | €530,000 | €530,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,378 | €64,453 | +€36,076 | +127.1% |
| Trade debts | 44 | €5,399 | €3,370 | -€2,029 | -37.6% |
| Suppliers | 440/4 | €5,399 | €3,370 | -€2,029 | -37.6% |
| Taxes, remuneration and social security | 45 | €6,550 | €5,304 | -€1,246 | -19.0% |
| Taxes | 450/3 | €1,430 | - | -€1,430 | |
| Remuneration and social security | 454/9 | €5,120 | €5,304 | +€183 | +3.6% |
| Other amounts payable | 47/48 | €16,428 | €55,779 | +€39,351 | +239.5% |
| Accrued charges and deferred income | 492/3 | €5,561 | €5,746 | +€185 | +3.3% |
| Remuneration, social security and pensions | 62 | €34,539 | €35,912 | +€1,373 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,187 | €45,691 | -€496 | -1.1% |
| Other operating charges | 640/8 | €10,710 | €10,906 | +€196 | +1.8% |
| Gross operating margin | 9900 | €139,250 | €155,827 | +€16,577 | +11.9% |
| Operating profit (loss) | 9901 | €47,813 | €63,317 | +€15,504 | +32.4% |
| Financial income | 75/76B | €4,656 | €411 | -€4,245 | -91.2% |
| Recurring financial income | 75 | €4,656 | €411 | -€4,245 | -91.2% |
| Financial charges | 65/66B | €45,165 | €37,924 | -€7,241 | -16.0% |
| Recurring financial charges | 65 | €45,165 | €37,924 | -€7,241 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €7,305 | €25,804 | +€18,500 | +253.3% |
| Income taxes | 67/77 | €2,539 | €8,567 | +€6,029 | +237.5% |
| Profit (loss) for the period | 9904 | €4,766 | €17,237 | +€12,471 | +261.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,766 | €17,237 | +€12,471 | +261.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.