ECA: 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.
What changed
ECA
NACE 13.929, Manufacture of textiles
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €12.8m-€10.8m
Equity
€140.2m
2024 · €139.5m+€752,814
Cash
€7.8m
2024 · €1.2m+€6.6m
Balance sheet total
€149.6m
2024 · €147.0m+€2.6m
Largest movements
Assets
- Cash +€6.6m
up €6.6m (+565.2%), from €1.2m to €7.8m
mainly Net result for the year (+€2.1m) and Investment in fixed assets (net) (+€1.7m)
- Tangible fixed assets -€3.0m
down €3.0m (-21.8%), from €13.6m to €10.6m
of which Plant, machinery and equipment: -€3.6m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€12.5m
down €12.5m (-75.1%), from €16.6m to €4.1m
- Turnover +€3.8m
up €3.8m (+35.3%), from €10.7m to €14.4m
- Other operating income -€2.1m
down €2.1m (-88.5%), from €2.3m to €270,840
- Depreciation -€1.0m
down €1.0m (-46.2%), from €2.3m to €1.2m
- Staff costs -€764,455
down €764,455 (-17.0%), from €4.5m to €3.7m
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.
Result 2024
€12.8m
Turnover
+€3.8m
Other operating income
-€2.1m
Goods and materials
-€171,649
Services and other goods
+€333,677
Staff costs
+€764,455
Depreciation
+€1.0m
Write-downs
+€423,004
Provisions
-€226,308
Other operating charges
+€74,995
Other operating items
-€2.3m
Financial income
-€12.5m
Financial charges
+€41,637
Taxes
-€8,304
Result 2025
€2.1m
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.
From operations
+€6.8m
Investment
+€1.1m
Financing
-€1.3m
Cash 2024
€1.2m
From operations (derived)
+€6.8m
Net result for the year
+€2.1m
Depreciation
+€1.2m
Stocks and contracts
+€1.0m
Receivables within one year
+€697,682
Deferred charges and accrued income
+€11,676
Trade debts
+€606,019
Tax, wage and social debts
-€95,588
Other debts
+€1.3m
Accrued charges and deferred income
+€9,624
Investment (derived)
+€1.1m
Investment in fixed assets (net)
+€1.7m
Current investments
-€506,648
Financing
-€1.3m
Contributions, distributions and other
-€1.3m
Cash 2025
€7.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,980,400 | €149,553,268 | +€2.6m | +1.8% |
| Fixed assets | 21/28 | €108,474,537 | €105,606,102 | -€2.9m | -2.6% |
| Intangible fixed assets | 21 | €9,946 | €102,028 | +€92,082 | +925.8% |
| Tangible fixed assets | 22/27 | €13,588,912 | €10,629,237 | -€3.0m | -21.8% |
| Land and buildings | 22 | €6,965,149 | €7,026,790 | +€61,641 | +0.9% |
| Plant, machinery and equipment | 23 | €6,237,147 | €2,660,978 | -€3.6m | -57.3% |
| Furniture and vehicles | 24 | €271,468 | €226,771 | -€44,696 | -16.5% |
| Other tangible fixed assets | 26 | €10,500 | €337,070 | +€326,570 | +3110.2% |
| Assets under construction and advance payments | 27 | €104,647 | €377,627 | +€272,980 | +260.9% |
| Financial fixed assets | 28 | €94,875,679 | €94,874,837 | -€842 | 0.0% |
| Affiliated companies | 280/1 | €94,874,160 | €94,874,160 | = | 0.0% |
| Participating interests | 280 | €86,865,011 | €86,865,011 | = | 0.0% |
| Amounts receivable | 281 | €8,009,150 | €8,009,150 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,518 | €677 | -€842 | -55.4% |
| Amounts receivable and cash guarantees | 285/8 | €1,518 | €677 | -€842 | -55.4% |
| Current assets | 29/58 | €38,505,863 | €43,947,166 | +€5.4m | +14.1% |
| Stocks and contracts in progress | 3 | €3,101,555 | €2,099,838 | -€1.0m | -32.3% |
| Stocks | 30/36 | €3,101,555 | €2,099,838 | -€1.0m | -32.3% |
| Raw materials and consumables | 30/31 | €2,009,011 | €1,422,332 | -€586,679 | -29.2% |
| Work in progress | 32 | €449,968 | €46,986 | -€402,982 | -89.6% |
| Finished goods | 33 | €642,575 | €630,519 | -€12,056 | -1.9% |
| Amounts receivable within one year | 40/41 | €3,581,577 | €2,883,895 | -€697,682 | -19.5% |
| Trade receivables | 40 | €3,554,151 | €2,865,384 | -€688,767 | -19.4% |
| Other amounts receivable | 41 | €27,426 | €18,511 | -€8,915 | -32.5% |
| Current investments | 50/53 | €30,550,041 | €31,056,689 | +€506,648 | +1.7% |
| Own shares | 50 | €28,490,745 | €28,490,745 | = | 0.0% |
| Other investments | 51/53 | €2,059,295 | €2,565,944 | +€506,648 | +24.6% |
| Cash at bank and in hand | 54/58 | €1,175,894 | €7,821,623 | +€6.6m | +565.2% |
| Deferred charges and accrued income | 490/1 | €96,797 | €85,121 | -€11,676 | -12.1% |
| Total equity and liabilities | 10/49 | €146,980,400 | €149,553,268 | +€2.6m | +1.8% |
| Equity | 10/15 | €139,458,566 | €140,211,380 | +€752,814 | +0.5% |
| Contributions | 10/11 | €52,128,292 | €52,128,292 | = | 0.0% |
| Capital | 10 | €51,105,092 | €51,105,092 | = | 0.0% |
| Issued capital | 100 | €51,105,092 | €51,105,092 | = | 0.0% |
| Outside capital | 11 | €1,023,200 | €1,023,200 | = | 0.0% |
| Share premium | 1100/10 | €1,023,200 | €1,023,200 | = | 0.0% |
| Reserves | 13 | €86,509,848 | €87,909,848 | +€1.4m | +1.6% |
| Non-distributable reserves | 130/1 | €34,128,998 | €34,128,998 | = | 0.0% |
| Legal reserve | 130 | €5,610,509 | €5,610,509 | = | 0.0% |
| Own shares acquired | 1312 | €28,490,745 | €28,490,745 | = | 0.0% |
| Other | 1319 | €27,744 | €27,744 | = | 0.0% |
| Tax-exempt reserves | 132 | €130,689 | €130,689 | = | 0.0% |
| Distributable reserves | 133 | €52,250,161 | €53,650,161 | +€1.4m | +2.7% |
| Profit (loss) carried forward | 14 | €820,426 | €173,240 | -€647,186 | -78.9% |
| Provisions and deferred taxes | 16 | €17,998 | €17,998 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €17,998 | €17,998 | = | 0.0% |
| Other liabilities and charges | 164/5 | €17,998 | €17,998 | = | 0.0% |
| Amounts payable | 17/49 | €7,503,836 | €9,323,890 | +€1.8m | +24.3% |
| Amounts payable within one year | 42/48 | €7,138,501 | €8,948,932 | +€1.8m | +25.4% |
| Trade debts | 44 | €410,104 | €1,016,122 | +€606,019 | +147.8% |
| Suppliers | 440/4 | €410,104 | €1,016,122 | +€606,019 | +147.8% |
| Taxes, remuneration and social security | 45 | €6,723,927 | €6,628,339 | -€95,588 | -1.4% |
| Taxes | 450/3 | €6,370,254 | €6,333,935 | -€36,319 | -0.6% |
| Remuneration and social security | 454/9 | €353,673 | €294,404 | -€59,270 | -16.8% |
| Other amounts payable | 47/48 | €4,470 | €1,304,470 | +€1.3m | +29082.8% |
| Accrued charges and deferred income | 492/3 | €365,335 | €374,958 | +€9,624 | +2.6% |
| Operating income | 70/76A | €13,397,309 | €15,055,571 | +€1.7m | +12.4% |
| Turnover | 70 | €10,653,969 | €14,417,024 | +€3.8m | +35.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €306,916 | -€415,037 | -€721,954 | |
| Other operating income | 74 | €2,347,878 | €270,840 | -€2.1m | -88.5% |
| Non-recurring operating income | 76A | €88,546 | €782,744 | +€694,199 | +784.0% |
| Operating charges | 60/66A | €17,124,013 | €17,115,886 | -€8,127 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €6,423,514 | €6,595,162 | +€171,649 | +2.7% |
| Purchases | 600/8 | €5,478,929 | €6,008,483 | +€529,554 | +9.7% |
| Change in stocks: decrease (increase) | 609 | €944,584 | €586,679 | -€357,905 | -37.9% |
| Services and other goods | 61 | €2,842,631 | €2,508,953 | -€333,677 | -11.7% |
| Remuneration, social security and pensions | 62 | €4,486,130 | €3,721,675 | -€764,455 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,257,684 | €1,214,280 | -€1.0m | -46.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €423,004 | - | -€423,004 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€226,308 | - | +€226,308 | |
| Other operating charges | 640/8 | €406,796 | €331,801 | -€74,995 | -18.4% |
| Non-recurring operating charges | 66A | €510,562 | €2,744,014 | +€2.2m | +437.4% |
| Operating profit (loss) | 9901 | -€3,726,704 | -€2,060,316 | +€1.7m | +44.7% |
| Financial income | 75/76B | €16,604,633 | €4,137,299 | -€12.5m | -75.1% |
| Recurring financial income | 75 | €16,604,633 | €4,137,299 | -€12.5m | -75.1% |
| Income from financial fixed assets | 750 | €16,364,128 | €3,750,000 | -€12.6m | -77.1% |
| Income from current assets | 751 | €237,498 | €382,369 | +€144,871 | +61.0% |
| Other financial income | 752/9 | €3,007 | €4,930 | +€1,924 | +64.0% |
| Financial charges | 65/66B | €46,386 | €4,749 | -€41,637 | -89.8% |
| Recurring financial charges | 65 | €46,386 | €4,749 | -€41,637 | -89.8% |
| Debt charges | 650 | €42,754 | - | -€42,754 | |
| Other financial charges | 652/9 | €3,632 | €4,749 | +€1,117 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €12,831,543 | €2,072,235 | -€10.8m | -83.9% |
| Income taxes | 67/77 | €11,117 | €19,421 | +€8,304 | +74.7% |
| Taxes | 670/3 | €11,117 | €19,421 | +€8,304 | +74.7% |
| Profit (loss) for the period | 9904 | €12,820,426 | €2,052,814 | -€10.8m | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,820,426 | €2,052,814 | -€10.8m | -84.0% |
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 1 October 2026 via checked.be.