ECA&R: 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.
ECA&R
Largest movements
- Cash +€19,443
up €19,443 (+35.0%), from €55,508 to €74,951
mainly Net result for the year (+€29,283) and Depreciation (+€16,022)
- Tangible fixed assets -€16,022
down €16,022 (-33.5%), from €47,820 to €31,797
of which Plant, machinery and equipment: -€15,324
- Reserves +€6,678
up €6,678 (+11.1%), from €60,330 to €67,008
- Other debts -€6,048
down €6,048 (-18.9%), from €32,060 to €26,012
- Tax, wage and social debts +€5,198
up €5,198 (+1,456%), from €357 to €5,555
- Trade debts -€1,823
down €1,823 (-48.0%), from €3,795 to €1,972
- Gross operating margin +€18,846
up €18,846 (+48.8%), from €38,604 to €57,450
- Taxes +€5,768
up €5,768 (+105%), from €5,495 to €11,263
- Depreciation -€1,388
down €1,388 (-8.0%), from €17,410 to €16,022
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 | €103,565 | €106,748 | +€3,183 | +3.1% |
| Fixed assets | 21/28 | €47,820 | €31,797 | -€16,022 | -33.5% |
| Tangible fixed assets | 22/27 | €47,820 | €31,797 | -€16,022 | -33.5% |
| Plant, machinery and equipment | 23 | €46,511 | €31,187 | -€15,324 | -32.9% |
| Furniture and vehicles | 24 | €1,254 | €610 | -€644 | -51.3% |
| Other tangible fixed assets | 26 | €55 | €0 | -€55 | -100% |
| Current assets | 29/58 | €55,745 | €74,951 | +€19,205 | +34.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €55,508 | €74,951 | +€19,443 | +35.0% |
| Deferred charges and accrued income | 490/1 | €237 | €0 | -€237 | -100% |
| Total equity and liabilities | 10/49 | €103,565 | €106,748 | +€3,183 | +3.1% |
| Equity | 10/15 | €66,530 | €73,208 | +€6,678 | +10.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,330 | €67,008 | +€6,678 | +11.1% |
| Distributable reserves | 133 | €60,330 | €67,008 | +€6,678 | +11.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,035 | €33,540 | -€3,495 | -9.4% |
| Amounts payable within one year | 42/48 | €36,212 | €33,540 | -€2,672 | -7.4% |
| Trade debts | 44 | €3,795 | €1,972 | -€1,823 | -48.0% |
| Suppliers | 440/4 | €3,795 | €1,972 | -€1,823 | -48.0% |
| Taxes, remuneration and social security | 45 | €357 | €5,555 | +€5,198 | +1,456% |
| Taxes | 450/3 | €357 | €5,555 | +€5,198 | +1,456% |
| Other amounts payable | 47/48 | €32,060 | €26,012 | -€6,048 | -18.9% |
| Accrued charges and deferred income | 492/3 | €823 | €0 | -€823 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,410 | €16,022 | -€1,388 | -8.0% |
| Other operating charges | 640/8 | €881 | €1,014 | +€132 | +15.0% |
| Gross operating margin | 9900 | €38,604 | €57,450 | +€18,846 | +48.8% |
| Operating profit (loss) | 9901 | €20,313 | €40,414 | +€20,101 | +99.0% |
| Financial income | 75/76B | €595 | €414 | -€181 | -30.4% |
| Recurring financial income | 75 | €595 | €414 | -€181 | -30.4% |
| Financial charges | 65/66B | €656 | €282 | -€374 | -57.1% |
| Recurring financial charges | 65 | €656 | €282 | -€374 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | €20,251 | €40,546 | +€20,295 | +100% |
| Income taxes | 67/77 | €5,495 | €11,263 | +€5,768 | +105% |
| Profit (loss) for the period | 9904 | €14,757 | €29,283 | +€14,526 | +98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,757 | €29,283 | +€14,526 | +98.4% |
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 17 October 2026 via checked.be.