EBULLITION: 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.
EBULLITION
Largest movements
- Tangible fixed assets +€30,629
up €30,629 (+60.6%), from €50,532 to €81,161
of which Furniture and vehicles: +€19,939
- Intangible fixed assets -€12,000
no longer reported in 2025 (was €12,000)
- Receivables within one year +€11,066
up €11,066 (+11.1%), from €100,077 to €111,143
of which Trade receivables: +€12,090
- Cash +€10,943
up €10,943 (+20.5%), from €53,272 to €64,215
mainly Net result for the year (+€35,595) and Depreciation (+€33,896)
- Financial fixed assets +€6,644
up €6,644 (+33.4%), from €19,922 to €26,566
- Reserves +€35,500
up €35,500 (+40.8%), from €86,916 to €122,416
of which Distributable reserves: +€35,500
- Debts after one year +€21,519
up €21,519 (+71.6%), from €30,039 to €51,558
of which Financial debts: +€22,440
- Current portion of long-term debt -€9,478
down €9,478 (-37.7%), from €25,115 to €15,637
- Other debts -€6,264
down €6,264 (-44.3%), from €14,152 to €7,888
- Trade debts +€5,129
up €5,129 (+14.0%), from €36,566 to €41,695
- Staff costs +€9,218
up €9,218 (+14.3%), from €64,254 to €73,473
- Other operating charges +€5,989
up €5,989 (+689.4%), from €869 to €6,858
- Taxes -€5,759
down €5,759 (-24.7%), from €23,276 to €17,517
- Gross operating margin -€2,554
down €2,554 (-1.5%), from €172,935 to €170,381
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 | €238,460 | €285,133 | +€46,673 | +19.6% |
| Fixed assets | 21/28 | €82,454 | €107,727 | +€25,273 | +30.7% |
| Intangible fixed assets | 21 | €12,000 | - | -€12,000 | |
| Tangible fixed assets | 22/27 | €50,532 | €81,161 | +€30,629 | +60.6% |
| Plant, machinery and equipment | 23 | €9,079 | €19,769 | +€10,690 | +117.7% |
| Furniture and vehicles | 24 | €41,453 | €61,392 | +€19,939 | +48.1% |
| Financial fixed assets | 28 | €19,922 | €26,566 | +€6,644 | +33.4% |
| Current assets | 29/58 | €156,006 | €177,406 | +€21,400 | +13.7% |
| Amounts receivable within one year | 40/41 | €100,077 | €111,143 | +€11,066 | +11.1% |
| Trade receivables | 40 | €89,749 | €101,839 | +€12,090 | +13.5% |
| Other amounts receivable | 41 | €10,328 | €9,305 | -€1,024 | -9.9% |
| Cash at bank and in hand | 54/58 | €53,272 | €64,215 | +€10,943 | +20.5% |
| Deferred charges and accrued income | 490/1 | €2,657 | €2,047 | -€609 | -22.9% |
| Total equity and liabilities | 10/49 | €238,460 | €285,133 | +€46,673 | +19.6% |
| Equity | 10/15 | €107,182 | €142,777 | +€35,595 | +33.2% |
| Contributions | 10/11 | €18,660 | €18,660 | = | 0.0% |
| Reserves | 13 | €86,916 | €122,416 | +€35,500 | +40.8% |
| Tax-exempt reserves | 132 | €12,550 | €12,550 | = | 0.0% |
| Distributable reserves | 133 | €74,366 | €109,866 | +€35,500 | +47.7% |
| Profit (loss) carried forward | 14 | €1,606 | €1,701 | +€95 | +5.9% |
| Amounts payable | 17/49 | €131,278 | €142,356 | +€11,078 | +8.4% |
| Amounts payable after more than one year | 17 | €30,039 | €51,558 | +€21,519 | +71.6% |
| Financial debts | 170/4 | €29,117 | €51,558 | +€22,440 | +77.1% |
| Other amounts payable | 178/9 | €922 | - | -€922 | |
| Amounts payable within one year | 42/48 | €101,239 | €86,990 | -€14,249 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €25,115 | €15,637 | -€9,478 | -37.7% |
| Trade debts | 44 | €36,566 | €41,695 | +€5,129 | +14.0% |
| Suppliers | 440/4 | €36,566 | €41,695 | +€5,129 | +14.0% |
| Taxes, remuneration and social security | 45 | €25,405 | €21,769 | -€3,636 | -14.3% |
| Taxes | 450/3 | €18,175 | €12,493 | -€5,682 | -31.3% |
| Remuneration and social security | 454/9 | €7,230 | €9,276 | +€2,047 | +28.3% |
| Other amounts payable | 47/48 | €14,152 | €7,888 | -€6,264 | -44.3% |
| Accrued charges and deferred income | 492/3 | - | €3,808 | +€3,808 | |
| Remuneration, social security and pensions | 62 | €64,254 | €73,473 | +€9,218 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,903 | €33,896 | -€7 | 0.0% |
| Other operating charges | 640/8 | €869 | €6,858 | +€5,989 | +689.4% |
| Gross operating margin | 9900 | €172,935 | €170,381 | -€2,554 | -1.5% |
| Operating profit (loss) | 9901 | €73,909 | €56,156 | -€17,754 | -24.0% |
| Financial income | 75/76B | €16 | €19 | +€3 | +16.0% |
| Recurring financial income | 75 | €16 | €19 | +€3 | +16.0% |
| Financial charges | 65/66B | €2,730 | €3,062 | +€333 | +12.2% |
| Recurring financial charges | 65 | €2,730 | €3,062 | +€333 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €71,196 | €53,112 | -€18,084 | -25.4% |
| Income taxes | 67/77 | €23,276 | €17,517 | -€5,759 | -24.7% |
| Profit (loss) for the period | 9904 | €47,920 | €35,595 | -€12,325 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,920 | €35,595 | -€12,325 | -25.7% |
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 9 October 2026 via checked.be.