EBES: 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.
EBES
Largest movements
- Tangible fixed assets -€23,533
down €23,533 (-3.8%), from €626,910 to €603,377
of which Land and buildings: -€41,611
- Cash +€22,271
up €22,271 (+16.3%), from €137,032 to €159,303
mainly Net result for the year (+€66,349) and Depreciation (+€63,730)
- Reserves +€66,349
up €66,349 (+26.2%), from €253,509 to €319,858
of which Distributable reserves: +€66,349
- Debts after one year -€42,754
down €42,754 (-10.6%), from €403,101 to €360,348
- Trade debts -€15,493
down €15,493 (-49.8%), from €31,105 to €15,611
- Gross operating margin +€35,008
up €35,008 (+22.8%), from €153,260 to €188,268
- Taxes +€19,448
up €19,448 (+87.9%), from €22,113 to €41,562
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 | €790,715 | €793,350 | +€2,635 | +0.3% |
| Fixed assets | 21/28 | €626,910 | €603,377 | -€23,533 | -3.8% |
| Tangible fixed assets | 22/27 | €626,910 | €603,377 | -€23,533 | -3.8% |
| Land and buildings | 22 | €572,917 | €531,306 | -€41,611 | -7.3% |
| Plant, machinery and equipment | 23 | €2,101 | €2,840 | +€739 | +35.2% |
| Furniture and vehicles | 24 | €51,893 | €69,231 | +€17,339 | +33.4% |
| Current assets | 29/58 | €163,805 | €189,973 | +€26,168 | +16.0% |
| Stocks and contracts in progress | 3 | €13,459 | €11,641 | -€1,818 | -13.5% |
| Stocks | 30/36 | €13,459 | €11,641 | -€1,818 | -13.5% |
| Amounts receivable within one year | 40/41 | €5,981 | €11,394 | +€5,413 | +90.5% |
| Trade receivables | 40 | €2,721 | €11,195 | +€8,474 | +311.4% |
| Other amounts receivable | 41 | €3,260 | €199 | -€3,061 | -93.9% |
| Cash at bank and in hand | 54/58 | €137,032 | €159,303 | +€22,271 | +16.3% |
| Deferred charges and accrued income | 490/1 | €7,333 | €7,635 | +€303 | +4.1% |
| Total equity and liabilities | 10/49 | €790,715 | €793,350 | +€2,635 | +0.3% |
| Equity | 10/15 | €273,009 | €339,358 | +€66,349 | +24.3% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €253,509 | €319,858 | +€66,349 | +26.2% |
| Non-distributable reserves | 130/1 | €1,950 | €1,950 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,950 | €1,950 | = | 0.0% |
| Distributable reserves | 133 | €251,559 | €317,908 | +€66,349 | +26.4% |
| Amounts payable | 17/49 | €517,706 | €453,992 | -€63,714 | -12.3% |
| Amounts payable after more than one year | 17 | €403,101 | €360,348 | -€42,754 | -10.6% |
| Financial debts | 170/4 | €403,101 | €360,348 | -€42,754 | -10.6% |
| Amounts payable within one year | 42/48 | €114,604 | €93,644 | -€20,960 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €48,740 | €42,754 | -€5,986 | -12.3% |
| Trade debts | 44 | €31,105 | €15,611 | -€15,493 | -49.8% |
| Suppliers | 440/4 | €31,105 | €15,611 | -€15,493 | -49.8% |
| Taxes, remuneration and social security | 45 | - | €6,911 | +€6,911 | |
| Taxes | 450/3 | - | €6,911 | +€6,911 | |
| Other amounts payable | 47/48 | €34,760 | €28,368 | -€6,392 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,794 | €63,730 | +€936 | +1.5% |
| Other operating charges | 640/8 | €6,604 | €7,458 | +€854 | +12.9% |
| Gross operating margin | 9900 | €153,260 | €188,268 | +€35,008 | +22.8% |
| Operating profit (loss) | 9901 | €83,863 | €117,081 | +€33,218 | +39.6% |
| Financial income | 75/76B | €71 | €543 | +€472 | +668.0% |
| Recurring financial income | 75 | €71 | €543 | +€472 | +668.0% |
| Financial charges | 65/66B | €11,160 | €9,713 | -€1,447 | -13.0% |
| Recurring financial charges | 65 | €11,160 | €9,713 | -€1,447 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €72,773 | €107,911 | +€35,137 | +48.3% |
| Income taxes | 67/77 | €22,113 | €41,562 | +€19,448 | +87.9% |
| Profit (loss) for the period | 9904 | €50,660 | €66,349 | +€15,689 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,660 | €66,349 | +€15,689 | +31.0% |
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 8 October 2026 via checked.be.