EC Holding: 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 Holding
Largest movements
- Receivables within one year +€78,531
up €78,531 (+184.0%), from €42,686 to €121,217
of which Trade receivables: +€67,387
- Tangible fixed assets +€28,057
new in 2025: €28,057
of which Furniture and vehicles: +€20,216
- Stocks and contracts +€12,184
up €12,184 (+39.5%), from €30,815 to €43,000
- Cash +€2,450
up €2,450 (+966.5%), from €254 to €2,704
mainly Net result for the year (+€46,637) and Trade debts (+€32,156)
- Profit (loss) carried forward +€44,392
up €44,392 (+1169.7%), from €3,795 to €48,187
- Trade debts +€32,156
new in 2025: €32,156
- Tax, wage and social debts +€22,977
up €22,977 (+246.8%), from €9,311 to €32,287
of which Taxes: +€19,391
- Debts after one year +€15,480
new in 2025: €15,480
- Current portion of long-term debt +€3,520
new in 2025: €3,520
- Turnover +€847,768
up €847,768 (+750.8%), from €112,909 to €960,677
- Purchases and services +€794,156
up €794,156 (+925.7%), from €85,793 to €879,948
- Gross operating margin +€53,612
up €53,612 (+197.7%), from €27,117 to €80,729
- Financial charges -€21,883
down €21,883 (-89.6%), from €24,411 to €2,528
- Staff costs +€18,638
new in 2025: €18,638
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 | €74,806 | €195,792 | +€120,986 | +161.7% |
| Formation expenses | 20 | €1,052 | €642 | -€410 | -39.0% |
| Fixed assets | 21/28 | - | €28,057 | +€28,057 | |
| Tangible fixed assets | 22/27 | - | €28,057 | +€28,057 | |
| Plant, machinery and equipment | 23 | - | €7,841 | +€7,841 | |
| Furniture and vehicles | 24 | - | €20,216 | +€20,216 | |
| Current assets | 29/58 | €73,755 | €167,094 | +€93,339 | +126.6% |
| Stocks and contracts in progress | 3 | €30,815 | €43,000 | +€12,184 | +39.5% |
| Stocks | 30/36 | €30,815 | €43,000 | +€12,184 | +39.5% |
| Amounts receivable within one year | 40/41 | €42,686 | €121,217 | +€78,531 | +184.0% |
| Trade receivables | 40 | €30,565 | €97,952 | +€67,387 | +220.5% |
| Other amounts receivable | 41 | €12,121 | €23,264 | +€11,144 | +91.9% |
| Cash at bank and in hand | 54/58 | €254 | €2,704 | +€2,450 | +966.5% |
| Deferred charges and accrued income | 490/1 | - | €173 | +€173 | |
| Total equity and liabilities | 10/49 | €74,806 | €195,792 | +€120,986 | +161.7% |
| Equity | 10/15 | €65,495 | €112,349 | +€46,854 | +71.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €200 | €2,662 | +€2,462 | +1229.3% |
| Non-distributable reserves | 130/1 | €200 | €2,662 | +€2,462 | +1229.3% |
| Legal reserve | 130 | €200 | €2,662 | +€2,462 | +1229.3% |
| Profit (loss) carried forward | 14 | €3,795 | €48,187 | +€44,392 | +1169.7% |
| Amounts payable | 17/49 | €9,311 | €83,443 | +€74,132 | +796.2% |
| Amounts payable after more than one year | 17 | - | €15,480 | +€15,480 | |
| Financial debts | 170/4 | - | €15,480 | +€15,480 | |
| Amounts payable within one year | 42/48 | €9,311 | €67,963 | +€58,652 | +629.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,520 | +€3,520 | |
| Trade debts | 44 | - | €32,156 | +€32,156 | |
| Suppliers | 440/4 | - | €32,156 | +€32,156 | |
| Taxes, remuneration and social security | 45 | €9,311 | €32,287 | +€22,977 | +246.8% |
| Taxes | 450/3 | €9,311 | €28,702 | +€19,391 | +208.3% |
| Remuneration and social security | 454/9 | - | €3,585 | +€3,585 | |
| Turnover | 70 | €112,909 | €960,677 | +€847,768 | +750.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €85,793 | €879,948 | +€794,156 | +925.7% |
| Remuneration, social security and pensions | 62 | - | €18,638 | +€18,638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410 | €1,098 | +€688 | +168.1% |
| Other operating charges | 640/8 | €130 | €168 | +€38 | +29.2% |
| Gross operating margin | 9900 | €27,117 | €80,729 | +€53,612 | +197.7% |
| Operating profit (loss) | 9901 | €26,577 | €60,825 | +€34,248 | +128.9% |
| Financial charges | 65/66B | €24,411 | €2,528 | -€21,883 | -89.6% |
| Recurring financial charges | 65 | €24,411 | €2,528 | -€21,883 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €2,166 | €58,296 | +€56,130 | +2590.9% |
| Income taxes | 67/77 | €433 | €11,659 | +€11,226 | +2590.9% |
| Profit (loss) for the period | 9904 | €1,733 | €46,637 | +€44,904 | +2590.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,733 | €46,637 | +€44,904 | +2590.9% |
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 7 October 2026 via checked.be.