EC Works: 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 Works
Largest movements
- Cash +€18,279
up €18,279 (+60.5%), from €30,211 to €48,490
mainly Net result for the year (+€29,930) and Depreciation (+€13,025)
- Receivables within one year +€16,736
up €16,736, from €0 to €16,736
of which Other amounts receivable: +€8,546
- Tangible fixed assets -€13,025
down €13,025 (-27.2%), from €47,943 to €34,918
of which Leasing and similar rights: -€9,990
- Deferred charges and accrued income -€2,447
down €2,447 (-23.5%), from €10,418 to €7,972
- Reserves +€29,100
up €29,100 (+68.9%), from €42,213 to €71,313
- Debts after one year -€7,584
down €7,584 (-27.8%), from €27,245 to €19,661
- Trade debts -€1,133
down €1,133 (-48.5%), from €2,337 to €1,204
- Gross operating margin +€39,387
up €39,387 (+151%), from €26,073 to €65,460
- Taxes +€12,537
up €12,537 (+348%), from €3,597 to €16,134
- Depreciation +€4,326
up €4,326 (+49.7%), from €8,699 to €13,025
- Staff costs +€738
up €738 (+32.6%), from €2,260 to €2,999
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 | €88,572 | €108,115 | +€19,543 | +22.1% |
| Fixed assets | 21/28 | €47,943 | €34,918 | -€13,025 | -27.2% |
| Tangible fixed assets | 22/27 | €47,943 | €34,918 | -€13,025 | -27.2% |
| Plant, machinery and equipment | 23 | €780 | €245 | -€535 | -68.6% |
| Furniture and vehicles | 24 | €2,507 | €7 | -€2,500 | -99.7% |
| Leasing and similar rights | 25 | €44,656 | €34,666 | -€9,990 | -22.4% |
| Current assets | 29/58 | €40,629 | €73,197 | +€32,568 | +80.2% |
| Amounts receivable within one year | 40/41 | €0 | €16,736 | +€16,736 | |
| Trade receivables | 40 | €0 | €8,190 | +€8,190 | |
| Other amounts receivable | 41 | €0 | €8,546 | +€8,546 | |
| Cash at bank and in hand | 54/58 | €30,211 | €48,490 | +€18,279 | +60.5% |
| Deferred charges and accrued income | 490/1 | €10,418 | €7,972 | -€2,447 | -23.5% |
| Total equity and liabilities | 10/49 | €88,572 | €108,115 | +€19,543 | +22.1% |
| Equity | 10/15 | €43,213 | €72,313 | +€29,100 | +67.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €42,213 | €71,313 | +€29,100 | +68.9% |
| Distributable reserves | 133 | €42,213 | €71,313 | +€29,100 | +68.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,359 | €35,802 | -€9,557 | -21.1% |
| Amounts payable after more than one year | 17 | €27,245 | €19,661 | -€7,584 | -27.8% |
| Financial debts | 170/4 | €27,245 | €19,661 | -€7,584 | -27.8% |
| Amounts payable within one year | 42/48 | €18,114 | €16,141 | -€1,973 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €7,550 | €7,584 | +€34 | +0.4% |
| Trade debts | 44 | €2,337 | €1,204 | -€1,133 | -48.5% |
| Suppliers | 440/4 | €2,337 | €1,204 | -€1,133 | -48.5% |
| Taxes, remuneration and social security | 45 | €3,922 | €3,383 | -€540 | -13.8% |
| Taxes | 450/3 | €3,922 | €3,383 | -€540 | -13.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,304 | €3,970 | -€334 | -7.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,260 | €2,999 | +€738 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,699 | €13,025 | +€4,326 | +49.7% |
| Other operating charges | 640/8 | €1,523 | €1,212 | -€311 | -20.4% |
| Gross operating margin | 9900 | €26,073 | €65,460 | +€39,387 | +151% |
| Operating profit (loss) | 9901 | €13,591 | €48,225 | +€34,633 | +255% |
| Financial income | 75/76B | €369 | €454 | +€86 | +23.2% |
| Recurring financial income | 75 | €369 | €454 | +€86 | +23.2% |
| Financial charges | 65/66B | €2,752 | €2,615 | -€137 | -5.0% |
| Recurring financial charges | 65 | €2,752 | €2,615 | -€137 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €11,208 | €46,064 | +€34,856 | +311% |
| Income taxes | 67/77 | €3,597 | €16,134 | +€12,537 | +348% |
| Profit (loss) for the period | 9904 | €7,610 | €29,930 | +€22,319 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €7,610 | €29,930 | +€22,319 | +293% |
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 21 October 2026 via checked.be.