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.
ECA
Largest movements
- Cash +€108,139
up €108,139 (+12.9%), from €836,126 to €944,265
mainly Net result for the year (+€86,807) and Receivables within one year (+€19,731)
- Receivables within one year -€19,731
down €19,731 (-93.6%), from €21,078 to €1,347
- Reserves +€86,807
up €86,807 (+12.7%), from €686,062 to €772,869
of which Distributable reserves: +€86,807
- Financial income +€16,586
up €16,586 (+221.2%), from €7,499 to €24,086
- Gross operating margin -€11,279
down €11,279 (-8.7%), from €129,444 to €118,166
- Taxes +€2,776
up €2,776 (+7.3%), from €37,769 to €40,545
- Depreciation +€2,664
up €2,664 (+105.9%), from €2,516 to €5,179
- Financial charges -€1,678
down €1,678 (-15.6%), from €10,728 to €9,051
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €880,033 | €963,198 | +€83,165 | +9.5% |
| Fixed assets | 21/28 | €20,550 | €15,371 | -€5,179 | -25.2% |
| Tangible fixed assets | 22/27 | €20,550 | €15,371 | -€5,179 | -25.2% |
| Land and buildings | 22 | €2,466 | €1,856 | -€610 | -24.7% |
| Furniture and vehicles | 24 | €18,085 | €13,515 | -€4,570 | -25.3% |
| Current assets | 29/58 | €859,483 | €947,827 | +€88,345 | +10.3% |
| Amounts receivable within one year | 40/41 | €21,078 | €1,347 | -€19,731 | -93.6% |
| Trade receivables | 40 | €21,078 | €1,347 | -€19,731 | -93.6% |
| Cash at bank and in hand | 54/58 | €836,126 | €944,265 | +€108,139 | +12.9% |
| Deferred charges and accrued income | 490/1 | €2,279 | €2,216 | -€64 | -2.8% |
| Total equity and liabilities | 10/49 | €880,033 | €963,198 | +€83,165 | +9.5% |
| Equity | 10/15 | €706,062 | €792,869 | +€86,807 | +12.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €686,062 | €772,869 | +€86,807 | +12.7% |
| Non-distributable reserves | 130/1 | €2,134 | €2,134 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,134 | €2,134 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,645 | €21,645 | = | 0.0% |
| Distributable reserves | 133 | €662,283 | €749,090 | +€86,807 | +13.1% |
| Provisions and deferred taxes | 16 | €1,239 | €1,239 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,239 | €1,239 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,239 | €1,239 | = | 0.0% |
| Amounts payable | 17/49 | €172,732 | €169,090 | -€3,642 | -2.1% |
| Amounts payable within one year | 42/48 | €159,877 | €159,251 | -€626 | -0.4% |
| Financial debts | 43 | €140,000 | €140,000 | = | 0.0% |
| Other loans | 439 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €5,184 | €4,738 | -€446 | -8.6% |
| Suppliers | 440/4 | €5,184 | €4,738 | -€446 | -8.6% |
| Taxes, remuneration and social security | 45 | €9,928 | €9,347 | -€581 | -5.8% |
| Taxes | 450/3 | €9,928 | €9,347 | -€581 | -5.8% |
| Other amounts payable | 47/48 | €4,765 | €5,166 | +€401 | +8.4% |
| Accrued charges and deferred income | 492/3 | €12,855 | €9,839 | -€3,016 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,516 | €5,179 | +€2,664 | +105.9% |
| Other operating charges | 640/8 | €635 | €669 | +€35 | +5.4% |
| Gross operating margin | 9900 | €129,444 | €118,166 | -€11,279 | -8.7% |
| Operating profit (loss) | 9901 | €126,294 | €112,317 | -€13,977 | -11.1% |
| Financial income | 75/76B | €7,499 | €24,086 | +€16,586 | +221.2% |
| Recurring financial income | 75 | €7,499 | €24,086 | +€16,586 | +221.2% |
| Financial charges | 65/66B | €10,728 | €9,051 | -€1,678 | -15.6% |
| Recurring financial charges | 65 | €10,728 | €9,051 | -€1,678 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €123,065 | €127,352 | +€4,287 | +3.5% |
| Income taxes | 67/77 | €37,769 | €40,545 | +€2,776 | +7.3% |
| Profit (loss) for the period | 9904 | €85,296 | €86,807 | +€1,511 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €85,296 | €86,807 | +€1,511 | +1.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.