EC CONCEPT: 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.
EC CONCEPT
Largest movements
- Tangible fixed assets +€69,440
up €69,440 (+61.9%), from €112,226 to €181,665
of which Other tangible fixed assets: +€58,075
- Stocks and contracts +€34,918
up €34,918 (+55.0%), from €63,536 to €98,453
- Receivables within one year +€22,879
up €22,879, from €0 to €22,879
of which Other amounts receivable: +€22,538
- Intangible fixed assets -€10,013
down €10,013 (-17.2%), from €58,337 to €48,324
- Reserves +€65,066
up €65,066 (+92.4%), from €70,453 to €135,519
- Tax, wage and social debts +€22,178
up €22,178 (+46.8%), from €47,351 to €69,528
of which Taxes: +€13,140
- Advances received +€18,779
up €18,779 (+165.3%), from €11,364 to €30,142
- Current portion of long-term debt +€16,819
up €16,819 (+55.3%), from €30,415 to €47,234
- Trade debts +€15,262
up €15,262 (+43.5%), from €35,114 to €50,376
- Gross operating margin +€109,054
up €109,054 (+53.7%), from €203,249 to €312,303
- Staff costs +€71,622
up €71,622 (+77.1%), from €92,935 to €164,557
- Depreciation +€4,813
up €4,813 (+17.3%), from €27,874 to €32,687
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,441 | €430,417 | +€120,976 | +39.1% |
| Fixed assets | 21/28 | €170,562 | €229,989 | +€59,426 | +34.8% |
| Intangible fixed assets | 21 | €58,337 | €48,324 | -€10,013 | -17.2% |
| Tangible fixed assets | 22/27 | €112,226 | €181,665 | +€69,440 | +61.9% |
| Land and buildings | 22 | €106,604 | €99,416 | -€7,189 | -6.7% |
| Plant, machinery and equipment | 23 | €1,311 | €1,799 | +€488 | +37.2% |
| Furniture and vehicles | 24 | €2,050 | €10,093 | +€8,044 | +392.5% |
| Other tangible fixed assets | 26 | - | €58,075 | +€58,075 | |
| Assets under construction and advance payments | 27 | €2,261 | €12,283 | +€10,021 | +443.2% |
| Current assets | 29/58 | €138,878 | €200,428 | +€61,550 | +44.3% |
| Stocks and contracts in progress | 3 | €63,536 | €98,453 | +€34,918 | +55.0% |
| Stocks | 30/36 | €63,536 | €98,453 | +€34,918 | +55.0% |
| Amounts receivable within one year | 40/41 | €0 | €22,879 | +€22,879 | |
| Trade receivables | 40 | €0 | €341 | +€341 | |
| Other amounts receivable | 41 | €0 | €22,538 | +€22,538 | |
| Cash at bank and in hand | 54/58 | €69,944 | €72,080 | +€2,136 | +3.1% |
| Deferred charges and accrued income | 490/1 | €5,398 | €7,015 | +€1,617 | +30.0% |
| Total equity and liabilities | 10/49 | €309,441 | €430,417 | +€120,976 | +39.1% |
| Equity | 10/15 | €92,574 | €145,519 | +€52,945 | +57.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €70,453 | €135,519 | +€65,066 | +92.4% |
| Distributable reserves | 133 | €70,453 | €135,519 | +€65,066 | +92.4% |
| Profit (loss) carried forward | 14 | €12,121 | €0 | -€12,121 | -100.0% |
| Amounts payable | 17/49 | €216,867 | €284,898 | +€68,031 | +31.4% |
| Amounts payable after more than one year | 17 | €69,089 | €60,370 | -€8,719 | -12.6% |
| Financial debts | 170/4 | €69,089 | €60,370 | -€8,719 | -12.6% |
| Amounts payable within one year | 42/48 | €147,624 | €221,212 | +€73,588 | +49.8% |
| Current portion of amounts payable after more than one year | 42 | €30,415 | €47,234 | +€16,819 | +55.3% |
| Trade debts | 44 | €35,114 | €50,376 | +€15,262 | +43.5% |
| Suppliers | 440/4 | €35,114 | €50,376 | +€15,262 | +43.5% |
| Advances received on contracts in progress | 46 | €11,364 | €30,142 | +€18,779 | +165.3% |
| Taxes, remuneration and social security | 45 | €47,351 | €69,528 | +€22,178 | +46.8% |
| Taxes | 450/3 | €29,936 | €43,076 | +€13,140 | +43.9% |
| Remuneration and social security | 454/9 | €17,415 | €26,452 | +€9,037 | +51.9% |
| Other amounts payable | 47/48 | €23,381 | €23,932 | +€551 | +2.4% |
| Accrued charges and deferred income | 492/3 | €154 | €3,316 | +€3,162 | +2050.6% |
| Remuneration, social security and pensions | 62 | €92,935 | €164,557 | +€71,622 | +77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,874 | €32,687 | +€4,813 | +17.3% |
| Other operating charges | 640/8 | €1,533 | €4,575 | +€3,042 | +198.4% |
| Gross operating margin | 9900 | €203,249 | €312,303 | +€109,054 | +53.7% |
| Operating profit (loss) | 9901 | €80,907 | €110,484 | +€29,577 | +36.6% |
| Financial income | 75/76B | €581 | €373 | -€209 | -35.9% |
| Recurring financial income | 75 | €581 | €373 | -€209 | -35.9% |
| Financial charges | 65/66B | €7,218 | €8,040 | +€822 | +11.4% |
| Recurring financial charges | 65 | €7,218 | €8,040 | +€822 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €74,270 | €102,817 | +€28,547 | +38.4% |
| Income taxes | 67/77 | €26,841 | €29,915 | +€3,074 | +11.5% |
| Profit (loss) for the period | 9904 | €47,430 | €72,902 | +€25,473 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,430 | €72,902 | +€25,473 | +53.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.