EC INVEST: 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.
EC INVEST
Largest movements
- Tangible fixed assets -€163,906
down €163,906 (-8.2%), from €2.0m to €1.8m
- Receivables within one year -€62,634
down €62,634 (-30.8%), from €203,612 to €140,978
- Debts after one year -€97,489
down €97,489 (-6.3%), from €1.6m to €1.5m
- Other debts -€90,350
down €90,350 (-50.2%), from €180,005 to €89,655
- Financial income +€11,113
up €11,113 (+112%), from €9,913 to €21,027
of which Non-recurring financial income: +€11,113
- Gross operating margin +€8,451
up €8,451 (+4.0%), from €210,087 to €218,538
- Other operating charges -€5,995
down €5,995 (-36.0%), from €16,673 to €10,678
- Financial charges -€5,089
down €5,089 (-12.2%), from €41,624 to €36,534
- Depreciation +€2,937
up €2,937 (+1.6%), from €185,807 to €188,744
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,206,910 | €1,982,011 | -€224,900 | -10.2% |
| Fixed assets | 21/28 | €2,000,104 | €1,836,198 | -€163,906 | -8.2% |
| Tangible fixed assets | 22/27 | €2,000,104 | €1,836,198 | -€163,906 | -8.2% |
| Land and buildings | 22 | €1,102,442 | €1,026,304 | -€76,138 | -6.9% |
| Plant, machinery and equipment | 23 | €533,476 | €452,840 | -€80,636 | -15.1% |
| Other tangible fixed assets | 26 | €364,186 | €357,054 | -€7,132 | -2.0% |
| Current assets | 29/58 | €206,807 | €145,813 | -€60,994 | -29.5% |
| Amounts receivable within one year | 40/41 | €203,612 | €140,978 | -€62,634 | -30.8% |
| Other amounts receivable | 41 | €203,612 | €140,978 | -€62,634 | -30.8% |
| Cash at bank and in hand | 54/58 | €18 | €1,511 | +€1,493 | +8,412% |
| Deferred charges and accrued income | 490/1 | €3,177 | €3,324 | +€147 | +4.6% |
| Total equity and liabilities | 10/49 | €2,206,910 | €1,982,011 | -€224,900 | -10.2% |
| Equity | 10/15 | €316,372 | €309,520 | -€6,853 | -2.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,490 | €174,550 | +€3,061 | +1.8% |
| Investment grants | 15 | €76,712 | €66,798 | -€9,913 | -12.9% |
| Amounts payable | 17/49 | €1,890,538 | €1,672,491 | -€218,047 | -11.5% |
| Amounts payable after more than one year | 17 | €1,550,171 | €1,452,682 | -€97,489 | -6.3% |
| Financial debts | 170/4 | €1,550,171 | €1,452,682 | -€97,489 | -6.3% |
| Amounts payable within one year | 42/48 | €332,267 | €218,159 | -€114,108 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €112,321 | €98,644 | -€13,677 | -12.2% |
| Trade debts | 44 | €34,097 | €24,131 | -€9,966 | -29.2% |
| Suppliers | 440/4 | €34,097 | €24,131 | -€9,966 | -29.2% |
| Taxes, remuneration and social security | 45 | €5,845 | €5,729 | -€116 | -2.0% |
| Taxes | 450/3 | €5,845 | €5,729 | -€116 | -2.0% |
| Other amounts payable | 47/48 | €180,005 | €89,655 | -€90,350 | -50.2% |
| Accrued charges and deferred income | 492/3 | €8,100 | €1,650 | -€6,450 | -79.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,807 | €188,744 | +€2,937 | +1.6% |
| Other operating charges | 640/8 | €16,673 | €10,678 | -€5,995 | -36.0% |
| Gross operating margin | 9900 | €210,087 | €218,538 | +€8,451 | +4.0% |
| Operating profit (loss) | 9901 | €7,607 | €19,116 | +€11,509 | +151% |
| Financial income | 75/76B | €9,913 | €21,027 | +€11,113 | +112% |
| Recurring financial income | 75 | €9,913 | €9,913 | = | 0.0% |
| Non-recurring financial income | 76B | - | €11,113 | +€11,113 | |
| Financial charges | 65/66B | €41,624 | €36,534 | -€5,089 | -12.2% |
| Recurring financial charges | 65 | €41,624 | €36,534 | -€5,089 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,103 | €3,608 | +€27,711 | |
| Income taxes | 67/77 | - | €547 | +€547 | |
| Profit (loss) for the period | 9904 | -€24,103 | €3,061 | +€27,164 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,103 | €3,061 | +€27,164 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.