EC&T GROUP: 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&T GROUP
Largest movements
- Receivables within one year +€6.8m
up €6.8m (+139%), from €4.9m to €11.7m
of which Other amounts receivable: +€6.8m
- Intangible fixed assets -€4.7m
down €4.7m (-97.5%), from €4.8m to €119,233
- Current investments +€2.0m
up €2.0m (+40.0%), from €5.0m to €7.0m
- Cash -€614,086
down €614,086 (-63.3%), from €970,211 to €356,125
mainly Receivables within one year (-€6.8m) and Current investments (-€2.0m)
- Profit (loss) carried forward +€8.3m
up €8.3m (+87.1%), from €9.5m to €17.8m
- Reserves -€4.7m
down €4.7m (-83.9%), from €5.6m to €900,075
of which Tax-exempt reserves: -€4.7m
- Gross operating margin +€501,714
up €501,714, from -€421,567 to €80,147
- Financial income +€111,185
up €111,185 (+1.4%), from €8.2m to €8.3m
- Taxes +€33,926
up €33,926, from -€5,913 to €28,013
- Financial charges -€11,911
down €11,911 (-80.7%), from €14,760 to €2,849
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 | €33,192,231 | €36,818,588 | +€3.6m | +10.9% |
| Fixed assets | 21/28 | €22,308,914 | €17,435,847 | -€4.9m | -21.8% |
| Intangible fixed assets | 21 | €4,808,736 | €119,233 | -€4.7m | -97.5% |
| Financial fixed assets | 28 | €17,500,178 | €17,316,614 | -€183,564 | -1.0% |
| Current assets | 29/58 | €10,883,316 | €19,382,741 | +€8.5m | +78.1% |
| Amounts receivable after more than one year | 29 | - | €293,983 | +€293,983 | |
| Other amounts receivable | 291 | - | €293,983 | +€293,983 | |
| Amounts receivable within one year | 40/41 | €4,895,092 | €11,720,631 | +€6.8m | +139% |
| Trade receivables | 40 | €101,825 | €114,439 | +€12,614 | +12.4% |
| Other amounts receivable | 41 | €4,793,267 | €11,606,193 | +€6.8m | +142% |
| Current investments | 50/53 | €5,000,000 | €7,000,000 | +€2.0m | +40.0% |
| Cash at bank and in hand | 54/58 | €970,211 | €356,125 | -€614,086 | -63.3% |
| Deferred charges and accrued income | 490/1 | €18,013 | €12,002 | -€6,012 | -33.4% |
| Total equity and liabilities | 10/49 | €33,192,231 | €36,818,588 | +€3.6m | +10.9% |
| Equity | 10/15 | €33,089,166 | €36,676,772 | +€3.6m | +10.8% |
| Contributions | 10/11 | €18,000,000 | €18,000,000 | = | 0.0% |
| Reserves | 13 | €5,589,578 | €900,075 | -€4.7m | -83.9% |
| Tax-exempt reserves | 132 | €4,808,736 | €119,233 | -€4.7m | -97.5% |
| Distributable reserves | 133 | €780,842 | €780,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,499,588 | €17,776,698 | +€8.3m | +87.1% |
| Amounts payable | 17/49 | €103,065 | €141,815 | +€38,751 | +37.6% |
| Amounts payable within one year | 42/48 | €103,065 | €141,815 | +€38,751 | +37.6% |
| Trade debts | 44 | €42,517 | €93,861 | +€51,344 | +121% |
| Suppliers | 440/4 | €42,517 | €93,861 | +€51,344 | +121% |
| Taxes, remuneration and social security | 45 | €60,548 | €47,955 | -€12,593 | -20.8% |
| Taxes | 450/3 | €31,882 | €20,548 | -€11,333 | -35.5% |
| Remuneration and social security | 454/9 | €28,666 | €27,406 | -€1,260 | -4.4% |
| Remuneration, social security and pensions | 62 | €95,829 | €99,311 | +€3,481 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,689,721 | €4,689,503 | -€217 | 0.0% |
| Other operating charges | 640/8 | €1,252 | €1,272 | +€21 | +1.6% |
| Gross operating margin | 9900 | -€421,567 | €80,147 | +€501,714 | |
| Operating profit (loss) | 9901 | -€5,208,369 | -€4,709,940 | +€498,429 | +9.6% |
| Financial income | 75/76B | €8,217,223 | €8,328,408 | +€111,185 | +1.4% |
| Recurring financial income | 75 | €8,217,223 | €8,328,408 | +€111,185 | +1.4% |
| Financial charges | 65/66B | €14,760 | €2,849 | -€11,911 | -80.7% |
| Recurring financial charges | 65 | €14,760 | €2,849 | -€11,911 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €2,994,094 | €3,615,619 | +€621,525 | +20.8% |
| Income taxes | 67/77 | -€5,913 | €28,013 | +€33,926 | |
| Profit (loss) for the period | 9904 | €3,000,008 | €3,587,607 | +€587,599 | +19.6% |
| Transfer from tax-exempt reserves | 789 | €4,689,503 | €4,689,503 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,689,511 | €8,277,110 | +€587,599 | +7.6% |
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 20 October 2026 via checked.be.