EBSE: 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.
EBSE
Largest movements
- Cash +€37,004
up €37,004 (+53.9%), from €68,651 to €105,655
mainly Receivables within one year (+€21,063) and Other debts (+€18,927)
- Receivables within one year -€21,063
down €21,063 (-35.6%), from €59,158 to €38,095
of which Trade receivables: -€20,337
- Tangible fixed assets -€9,672
down €9,672 (-34.1%), from €28,378 to €18,706
of which Leasing and similar rights: -€9,618
- Financial fixed assets -€1,650
no longer reported in 2025 (was €1,650)
- Other debts +€18,927
up €18,927 (+34011.0%), from €56 to €18,983
- Debts after one year -€9,467
down €9,467 (-70.2%), from €13,483 to €4,016
- Reserves -€4,097
down €4,097 (-3.8%), from €107,049 to €102,952
of which Distributable reserves: -€5,667
- Gross operating margin -€13,161
down €13,161 (-24.6%), from €53,432 to €40,271
- Taxes -€2,252
down €2,252 (-20.5%), from €10,996 to €8,743
- Depreciation -€1,671
down €1,671 (-12.3%), from €13,560 to €11,888
- Other operating charges -€1,474
down €1,474 (-34.6%), from €4,257 to €2,783
- Financial charges -€947
down €947 (-38.9%), from €2,435 to €1,488
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 | €157,836 | €163,518 | +€5,682 | +3.6% |
| Fixed assets | 21/28 | €30,028 | €18,706 | -€11,322 | -37.7% |
| Tangible fixed assets | 22/27 | €28,378 | €18,706 | -€9,672 | -34.1% |
| Plant, machinery and equipment | 23 | €2,303 | €1,351 | -€952 | -41.3% |
| Furniture and vehicles | 24 | €3,388 | €4,285 | +€898 | +26.5% |
| Leasing and similar rights | 25 | €22,687 | €13,069 | -€9,618 | -42.4% |
| Financial fixed assets | 28 | €1,650 | - | -€1,650 | |
| Current assets | 29/58 | €127,808 | €144,813 | +€17,004 | +13.3% |
| Amounts receivable within one year | 40/41 | €59,158 | €38,095 | -€21,063 | -35.6% |
| Trade receivables | 40 | €58,432 | €38,095 | -€20,337 | -34.8% |
| Other amounts receivable | 41 | €726 | - | -€726 | |
| Cash at bank and in hand | 54/58 | €68,651 | €105,655 | +€37,004 | +53.9% |
| Deferred charges and accrued income | 490/1 | - | €1,063 | +€1,063 | |
| Total equity and liabilities | 10/49 | €157,836 | €163,518 | +€5,682 | +3.6% |
| Equity | 10/15 | €115,518 | €111,421 | -€4,097 | -3.5% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €107,049 | €102,952 | -€4,097 | -3.8% |
| Non-distributable reserves | 130/1 | - | €1,081 | +€1,081 | |
| Reserves not available under the articles | 1311 | - | €1,081 | +€1,081 | |
| Tax-exempt reserves | 132 | €1,250 | €1,740 | +€490 | +39.2% |
| Distributable reserves | 133 | €105,799 | €100,132 | -€5,667 | -5.4% |
| Profit (loss) carried forward | 14 | €2,219 | €2,219 | = | 0.0% |
| Amounts payable | 17/49 | €42,318 | €52,097 | +€9,779 | +23.1% |
| Amounts payable after more than one year | 17 | €13,483 | €4,016 | -€9,467 | -70.2% |
| Financial debts | 170/4 | €13,483 | €4,016 | -€9,467 | -70.2% |
| Amounts payable within one year | 42/48 | €28,169 | €47,416 | +€19,246 | +68.3% |
| Current portion of amounts payable after more than one year | 42 | €10,211 | €9,467 | -€744 | -7.3% |
| Trade debts | 44 | €134 | €988 | +€854 | +637.6% |
| Suppliers | 440/4 | €134 | €988 | +€854 | +637.6% |
| Taxes, remuneration and social security | 45 | €17,768 | €17,977 | +€209 | +1.2% |
| Taxes | 450/3 | €17,768 | €17,977 | +€209 | +1.2% |
| Other amounts payable | 47/48 | €56 | €18,983 | +€18,927 | +34011.0% |
| Accrued charges and deferred income | 492/3 | €666 | €666 | = | 0.0% |
| Non-recurring operating income | 76A | €11,343 | - | -€11,343 | |
| Remuneration, social security and pensions | 62 | €116 | - | -€116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,560 | €11,888 | -€1,671 | -12.3% |
| Other operating charges | 640/8 | €4,257 | €2,783 | -€1,474 | -34.6% |
| Gross operating margin | 9900 | €53,432 | €40,271 | -€13,161 | -24.6% |
| Operating profit (loss) | 9901 | €35,500 | €25,600 | -€9,900 | -27.9% |
| Financial income | 75/76B | €339 | €399 | +€60 | +17.6% |
| Recurring financial income | 75 | €339 | €399 | +€60 | +17.6% |
| Financial charges | 65/66B | €2,435 | €1,488 | -€947 | -38.9% |
| Recurring financial charges | 65 | €2,435 | €1,488 | -€947 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €33,405 | €24,511 | -€8,893 | -26.6% |
| Transfer to deferred taxes | 680 | €490 | €490 | = | 0.0% |
| Income taxes | 67/77 | €10,996 | €8,743 | -€2,252 | -20.5% |
| Profit (loss) for the period | 9904 | €21,919 | €15,279 | -€6,641 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,919 | €15,279 | -€6,641 | -30.3% |
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 10 October 2026 via checked.be.