EC PROJECTS: 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 PROJECTS
Largest movements
- Cash -€33,659
down €33,659 (-15.1%), from €223,400 to €189,742
mainly Trade debts (-€25,589) and Contributions, distributions and other (-€25,000)
- Tangible fixed assets -€8,976
down €8,976 (-17.7%), from €50,810 to €41,833
of which Furniture and vehicles: -€8,373
- Receivables within one year -€3,304
down €3,304 (-29.5%), from €11,189 to €7,885
of which Trade receivables: -€7,037
- Trade debts -€25,589
down €25,589 (-94.8%), from €26,978 to €1,390
- Reserves -€10,000
down €10,000 (-6.1%), from €163,000 to €153,000
of which Distributable reserves: -€10,000
- Other debts -€7,476
down €7,476 (-23.9%), from €31,226 to €23,750
- Tax, wage and social debts -€3,715
down €3,715 (-29.9%), from €12,406 to €8,692
of which Taxes: -€3,732
- Gross operating margin -€34,476
down €34,476 (-50.9%), from €67,715 to €33,240
- Taxes -€12,557
down €12,557 (-65.5%), from €19,161 to €6,603
- Depreciation +€1,220
up €1,220 (+12.5%), from €9,740 to €10,959
- Financial income -€1,073
down €1,073 (-41.3%), from €2,598 to €1,525
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.
Derived cash bridge
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 | €312,358 | €265,716 | -€46,642 | -14.9% |
| Fixed assets | 21/28 | €51,609 | €42,632 | -€8,976 | -17.4% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €50,810 | €41,833 | -€8,976 | -17.7% |
| Plant, machinery and equipment | 23 | €4,341 | €3,737 | -€603 | -13.9% |
| Furniture and vehicles | 24 | €46,469 | €38,096 | -€8,373 | -18.0% |
| Financial fixed assets | 28 | €798 | €798 | = | 0.0% |
| Current assets | 29/58 | €260,749 | €223,084 | -€37,665 | -14.4% |
| Stocks and contracts in progress | 3 | €22,013 | €22,472 | +€459 | +2.1% |
| Stocks | 30/36 | €22,013 | €22,472 | +€459 | +2.1% |
| Amounts receivable within one year | 40/41 | €11,189 | €7,885 | -€3,304 | -29.5% |
| Trade receivables | 40 | €11,189 | €4,152 | -€7,037 | -62.9% |
| Other amounts receivable | 41 | - | €3,733 | +€3,733 | |
| Cash at bank and in hand | 54/58 | €223,400 | €189,742 | -€33,659 | -15.1% |
| Deferred charges and accrued income | 490/1 | €4,148 | €2,985 | -€1,162 | -28.0% |
| Total equity and liabilities | 10/49 | €312,358 | €265,716 | -€46,642 | -14.9% |
| Equity | 10/15 | €241,747 | €231,885 | -€9,863 | -4.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €163,000 | €153,000 | -€10,000 | -6.1% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €160,000 | €150,000 | -€10,000 | -6.3% |
| Profit (loss) carried forward | 14 | €48,747 | €48,885 | +€137 | +0.3% |
| Amounts payable | 17/49 | €70,611 | €33,832 | -€36,779 | -52.1% |
| Amounts payable within one year | 42/48 | €70,611 | €33,832 | -€36,779 | -52.1% |
| Trade debts | 44 | €26,978 | €1,390 | -€25,589 | -94.8% |
| Suppliers | 440/4 | €26,978 | €1,390 | -€25,589 | -94.8% |
| Taxes, remuneration and social security | 45 | €12,406 | €8,692 | -€3,715 | -29.9% |
| Taxes | 450/3 | €10,143 | €6,411 | -€3,732 | -36.8% |
| Remuneration and social security | 454/9 | €2,263 | €2,281 | +€18 | +0.8% |
| Other amounts payable | 47/48 | €31,226 | €23,750 | -€7,476 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,740 | €10,959 | +€1,220 | +12.5% |
| Other operating charges | 640/8 | €1,545 | €1,645 | +€100 | +6.5% |
| Gross operating margin | 9900 | €67,715 | €33,240 | -€34,476 | -50.9% |
| Operating profit (loss) | 9901 | €56,431 | €20,635 | -€35,796 | -63.4% |
| Financial income | 75/76B | €2,598 | €1,525 | -€1,073 | -41.3% |
| Recurring financial income | 75 | €2,598 | €1,525 | -€1,073 | -41.3% |
| Financial charges | 65/66B | €619 | €420 | -€199 | -32.2% |
| Recurring financial charges | 65 | €619 | €420 | -€199 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €58,409 | €21,740 | -€36,669 | -62.8% |
| Income taxes | 67/77 | €19,161 | €6,603 | -€12,557 | -65.5% |
| Profit (loss) for the period | 9904 | €39,249 | €15,137 | -€24,112 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,249 | €15,137 | -€24,112 | -61.4% |
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 15 October 2026 via checked.be.