EBM-Projects: 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.
EBM-Projects
Largest movements
- Cash +€206,800
up €206,800 (+130%), from €158,895 to €365,695
mainly Net result for the year (+€229,097) and Other debts (+€76,720)
- Receivables within one year +€14,411
up €14,411 (+103%), from €13,976 to €28,387
of which Trade receivables: +€12,488
- Reserves +€129,097
up €129,097 (+29.3%), from €441,295 to €570,392
- Other debts +€76,720
up €76,720 (+357%), from €21,469 to €98,189
- Tax, wage and social debts +€18,285
up €18,285 (+195%), from €9,386 to €27,671
of which Taxes: +€16,820
- Debts after one year -€10,387
down €10,387 (-62.7%), from €16,578 to €6,191
- Financial income +€150,000
up €150,000 (+300%), from €50,000 to €200,000
- Gross operating margin -€10,061
down €10,061 (-15.6%), from €64,512 to €54,450
- Financial charges +€8,411
up €8,411 (+312%), from €2,696 to €11,106
- Depreciation -€7,755
down €7,755 (-84.5%), from €9,182 to €1,427
- Taxes -€2,225
down €2,225 (-16.1%), from €13,802 to €11,577
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 | €519,431 | €736,164 | +€216,733 | +41.7% |
| Fixed assets | 21/28 | €345,140 | €340,122 | -€5,018 | -1.5% |
| Tangible fixed assets | 22/27 | €15,140 | €8,657 | -€6,483 | -42.8% |
| Land and buildings | 22 | €6,258 | €5,594 | -€665 | -10.6% |
| Furniture and vehicles | 24 | €8,881 | €3,063 | -€5,818 | -65.5% |
| Financial fixed assets | 28 | €330,000 | €331,465 | +€1,465 | +0.4% |
| Current assets | 29/58 | €174,291 | €396,042 | +€221,751 | +127% |
| Amounts receivable within one year | 40/41 | €13,976 | €28,387 | +€14,411 | +103% |
| Trade receivables | 40 | €12,922 | €25,410 | +€12,488 | +96.6% |
| Other amounts receivable | 41 | €1,054 | €2,977 | +€1,923 | +182% |
| Cash at bank and in hand | 54/58 | €158,895 | €365,695 | +€206,800 | +130% |
| Deferred charges and accrued income | 490/1 | €1,420 | €1,961 | +€540 | +38.0% |
| Total equity and liabilities | 10/49 | €519,431 | €736,164 | +€216,733 | +41.7% |
| Equity | 10/15 | €459,895 | €588,992 | +€129,097 | +28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €441,295 | €570,392 | +€129,097 | +29.3% |
| Distributable reserves | 133 | €441,295 | €570,392 | +€129,097 | +29.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,536 | €147,172 | +€87,636 | +147% |
| Amounts payable after more than one year | 17 | €16,578 | €6,191 | -€10,387 | -62.7% |
| Financial debts | 170/4 | €16,578 | €6,191 | -€10,387 | -62.7% |
| Amounts payable within one year | 42/48 | €41,829 | €138,030 | +€96,201 | +230% |
| Current portion of amounts payable after more than one year | 42 | €10,108 | €10,387 | +€279 | +2.8% |
| Trade debts | 44 | €867 | €1,783 | +€917 | +106% |
| Suppliers | 440/4 | €867 | €1,783 | +€917 | +106% |
| Taxes, remuneration and social security | 45 | €9,386 | €27,671 | +€18,285 | +195% |
| Taxes | 450/3 | €9,386 | €26,206 | +€16,820 | +179% |
| Remuneration and social security | 454/9 | - | €1,465 | +€1,465 | |
| Other amounts payable | 47/48 | €21,469 | €98,189 | +€76,720 | +357% |
| Accrued charges and deferred income | 492/3 | €1,128 | €2,951 | +€1,822 | +161% |
| Non-recurring operating income | 76A | - | €8,342 | +€8,342 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,182 | €1,427 | -€7,755 | -84.5% |
| Other operating charges | 640/8 | €1,106 | €1,243 | +€138 | +12.4% |
| Gross operating margin | 9900 | €64,512 | €54,450 | -€10,061 | -15.6% |
| Operating profit (loss) | 9901 | €54,224 | €51,780 | -€2,444 | -4.5% |
| Financial income | 75/76B | €50,000 | €200,000 | +€150,000 | +300% |
| Recurring financial income | 75 | €50,000 | €200,000 | +€150,000 | +300% |
| Financial charges | 65/66B | €2,696 | €11,106 | +€8,411 | +312% |
| Recurring financial charges | 65 | €2,696 | €11,106 | +€8,411 | +312% |
| Profit (loss) for the period before taxes | 9903 | €101,529 | €240,674 | +€139,145 | +137% |
| Income taxes | 67/77 | €13,802 | €11,577 | -€2,225 | -16.1% |
| Profit (loss) for the period | 9904 | €87,727 | €229,097 | +€141,370 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €87,727 | €229,097 | +€141,370 | +161% |
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 30 October 2026 via checked.be.