EBEXCO: 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.
EBEXCO
Largest movements
- Current investments +€239,469
up €239,469 (+15.2%), from €1.6m to €1.8m
- Cash -€140,699
down €140,699 (-49.1%), from €286,604 to €145,904
mainly Current investments (-€239,469) and Receivables after one year (-€91,977)
- Receivables after one year +€91,977
up €91,977 (+184%), from €50,000 to €141,977
- Tangible fixed assets -€42,608
down €42,608 (-9.2%), from €464,603 to €421,995
of which Land and buildings: -€31,037
- Reserves +€154,419
up €154,419 (+6.7%), from €2.3m to €2.5m
of which Distributable reserves: +€159,639
- Financial income +€195,368
up €195,368 (+280%), from €69,854 to €265,222
- Financial charges +€96,771
up €96,771, from -€59,437 to €37,334
- Gross operating margin -€9,658
down €9,658, from €4,404 to -€5,254
- Taxes +€7,934
up €7,934 (+93.6%), from €8,480 to €16,414
- Depreciation +€1,118
up €1,118 (+2.5%), from €44,588 to €45,706
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.
Derived cash bridge
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 | €2,432,660 | €2,579,197 | +€146,537 | +6.0% |
| Fixed assets | 21/28 | €479,603 | €436,995 | -€42,608 | -8.9% |
| Tangible fixed assets | 22/27 | €464,603 | €421,995 | -€42,608 | -9.2% |
| Land and buildings | 22 | €448,189 | €417,153 | -€31,037 | -6.9% |
| Plant, machinery and equipment | 23 | €2,094 | €1,390 | -€703 | -33.6% |
| Furniture and vehicles | 24 | €14,320 | €3,452 | -€10,868 | -75.9% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €1,953,056 | €2,142,202 | +€189,146 | +9.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €141,977 | +€91,977 | +184% |
| Other amounts receivable | 291 | €50,000 | €141,977 | +€91,977 | +184% |
| Amounts receivable within one year | 40/41 | €37,167 | €33,492 | -€3,675 | -9.9% |
| Trade receivables | 40 | - | €308 | +€308 | |
| Other amounts receivable | 41 | €37,167 | €33,184 | -€3,983 | -10.7% |
| Current investments | 50/53 | €1,576,007 | €1,815,475 | +€239,469 | +15.2% |
| Cash at bank and in hand | 54/58 | €286,604 | €145,904 | -€140,699 | -49.1% |
| Deferred charges and accrued income | 490/1 | €3,279 | €5,353 | +€2,074 | +63.3% |
| Total equity and liabilities | 10/49 | €2,432,660 | €2,579,197 | +€146,537 | +6.0% |
| Equity | 10/15 | €2,376,528 | €2,530,947 | +€154,419 | +6.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,314,528 | €2,468,947 | +€154,419 | +6.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €136,967 | €131,747 | -€5,220 | -3.8% |
| Distributable reserves | 133 | €2,177,561 | €2,337,200 | +€159,639 | +7.3% |
| Provisions and deferred taxes | 16 | €45,656 | €43,916 | -€1,740 | -3.8% |
| Deferred taxes | 168 | €45,656 | €43,916 | -€1,740 | -3.8% |
| Amounts payable | 17/49 | €10,475 | €4,334 | -€6,142 | -58.6% |
| Amounts payable within one year | 42/48 | €7,928 | €4,334 | -€3,595 | -45.3% |
| Trade debts | 44 | €4,228 | €2,134 | -€2,095 | -49.5% |
| Suppliers | 440/4 | €4,228 | €2,134 | -€2,095 | -49.5% |
| Other amounts payable | 47/48 | €3,700 | €2,200 | -€1,500 | -40.5% |
| Accrued charges and deferred income | 492/3 | €2,547 | €0 | -€2,547 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,588 | €45,706 | +€1,118 | +2.5% |
| Other operating charges | 640/8 | €7,444 | €7,835 | +€391 | +5.3% |
| Gross operating margin | 9900 | €4,404 | -€5,254 | -€9,658 | |
| Operating profit (loss) | 9901 | -€47,628 | -€58,795 | -€11,167 | -23.4% |
| Financial income | 75/76B | €69,854 | €265,222 | +€195,368 | +280% |
| Recurring financial income | 75 | €69,854 | €265,222 | +€195,368 | +280% |
| Financial charges | 65/66B | -€59,437 | €37,334 | +€96,771 | |
| Recurring financial charges | 65 | -€59,437 | €37,334 | +€96,771 | |
| Profit (loss) for the period before taxes | 9903 | €81,663 | €169,093 | +€87,430 | +107% |
| Transfer from deferred taxes | 780 | €1,740 | €1,740 | = | 0.0% |
| Income taxes | 67/77 | €8,480 | €16,414 | +€7,934 | +93.6% |
| Profit (loss) for the period | 9904 | €74,923 | €154,419 | +€79,496 | +106% |
| Transfer from tax-exempt reserves | 789 | €5,220 | €5,220 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,142 | €159,639 | +€79,496 | +99.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.