EBO: 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.
EBO
Largest movements
- Tangible fixed assets -€32,189
down €32,189 (-20.4%), from €157,451 to €125,262
of which Land and buildings: -€16,808
- Receivables within one year -€12,933
down €12,933 (-19.2%), from €67,373 to €54,439
of which Other amounts receivable: -€12,147
- Stocks and contracts +€5,856
up €5,856 (+3.5%), from €167,605 to €173,461
of which Stocks: +€18,483
- Other debts -€24,485
down €24,485 (-20.9%), from €117,221 to €92,736
- Trade debts +€15,201
up €15,201 (+66.5%), from €22,867 to €38,068
- Debts after one year -€12,295
down €12,295 (-10.9%), from €112,560 to €100,265
- Reserves -€8,000
down €8,000 (-10.6%), from €75,268 to €67,268
- Tax, wage and social debts -€4,482
down €4,482 (-53.8%), from €8,337 to €3,855
of which Taxes: -€5,556
- Gross operating margin -€13,078
down €13,078 (-10.9%), from €120,278 to €107,199
- Staff costs -€10,975
down €10,975 (-15.2%), from €72,090 to €61,115
- Financial charges -€1,393
down €1,393 (-24.3%), from €5,733 to €4,340
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 | €400,746 | €363,458 | -€37,288 | -9.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €157,681 | €125,492 | -€32,189 | -20.4% |
| Tangible fixed assets | 22/27 | €157,451 | €125,262 | -€32,189 | -20.4% |
| Land and buildings | 22 | €128,085 | €111,277 | -€16,808 | -13.1% |
| Plant, machinery and equipment | 23 | €4,507 | €4,212 | -€296 | -6.6% |
| Furniture and vehicles | 24 | €24,859 | €9,774 | -€15,085 | -60.7% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €243,064 | €237,966 | -€5,098 | -2.1% |
| Stocks and contracts in progress | 3 | €167,605 | €173,461 | +€5,856 | +3.5% |
| Stocks | 30/36 | €99,183 | €117,666 | +€18,483 | +18.6% |
| Contracts in progress | 37 | €68,422 | €55,795 | -€12,627 | -18.5% |
| Amounts receivable within one year | 40/41 | €67,373 | €54,439 | -€12,933 | -19.2% |
| Trade receivables | 40 | €50,192 | €49,406 | -€786 | -1.6% |
| Other amounts receivable | 41 | €17,180 | €5,033 | -€12,147 | -70.7% |
| Cash at bank and in hand | 54/58 | €1,918 | €4,865 | +€2,947 | +153.6% |
| Deferred charges and accrued income | 490/1 | €6,169 | €5,201 | -€968 | -15.7% |
| Total equity and liabilities | 10/49 | €400,746 | €363,458 | -€37,288 | -9.3% |
| Equity | 10/15 | €124,123 | €116,578 | -€7,545 | -6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,268 | €67,268 | -€8,000 | -10.6% |
| Distributable reserves | 133 | €75,268 | €67,268 | -€8,000 | -10.6% |
| Profit (loss) carried forward | 14 | €36,455 | €36,910 | +€455 | +1.2% |
| Amounts payable | 17/49 | €276,622 | €246,880 | -€29,742 | -10.8% |
| Amounts payable after more than one year | 17 | €112,560 | €100,265 | -€12,295 | -10.9% |
| Financial debts | 170/4 | €112,560 | €100,265 | -€12,295 | -10.9% |
| Amounts payable within one year | 42/48 | €164,062 | €146,615 | -€17,447 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €11,505 | €11,957 | +€452 | +3.9% |
| Financial debts | 43 | €4,132 | - | -€4,132 | |
| Credit institutions | 430/8 | €4,132 | - | -€4,132 | |
| Trade debts | 44 | €22,867 | €38,068 | +€15,201 | +66.5% |
| Suppliers | 440/4 | €22,867 | €38,068 | +€15,201 | +66.5% |
| Taxes, remuneration and social security | 45 | €8,337 | €3,855 | -€4,482 | -53.8% |
| Taxes | 450/3 | €7,154 | €1,598 | -€5,556 | -77.7% |
| Remuneration and social security | 454/9 | €1,183 | €2,257 | +€1,074 | +90.7% |
| Other amounts payable | 47/48 | €117,221 | €92,736 | -€24,485 | -20.9% |
| Non-recurring operating income | 76A | €783 | - | -€783 | |
| Remuneration, social security and pensions | 62 | €72,090 | €61,115 | -€10,975 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,094 | €33,262 | -€832 | -2.4% |
| Other operating charges | 640/8 | €4,082 | €4,205 | +€123 | +3.0% |
| Non-recurring operating charges | 66A | €439 | €337 | -€102 | -23.2% |
| Gross operating margin | 9900 | €120,278 | €107,199 | -€13,078 | -10.9% |
| Operating profit (loss) | 9901 | €9,573 | €8,280 | -€1,293 | -13.5% |
| Financial income | 75/76B | €55 | €113 | +€58 | +105.8% |
| Recurring financial income | 75 | €55 | €113 | +€58 | +105.8% |
| Financial charges | 65/66B | €5,733 | €4,340 | -€1,393 | -24.3% |
| Recurring financial charges | 65 | €5,733 | €4,340 | -€1,393 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €3,895 | €4,054 | +€158 | +4.1% |
| Income taxes | 67/77 | €1,599 | €1,599 | -€0 | 0.0% |
| Profit (loss) for the period | 9904 | €2,296 | €2,455 | +€159 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,296 | €2,455 | +€159 | +6.9% |
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.