ECAM: 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.
ECAM
Largest movements
- Cash +€36,786
up €36,786 (+253.3%), from €14,524 to €51,310
mainly Net result for the year (+€41,655) and Investment in fixed assets (net) (+€27,798)
- Tangible fixed assets -€30,181
down €30,181 (-95.6%), from €31,567 to €1,386
of which Leasing and similar rights: -€31,567
- Current investments -€5,287
no longer reported in 2025 (was €5,287)
- Financial fixed assets +€2,223
new in 2025: €2,223
- Reserves +€41,655
new in 2025: €41,655
- Debts after one year -€15,894
no longer reported in 2025 (was €15,894)
- Current portion of long-term debt -€10,954
no longer reported in 2025 (was €10,954)
- Other debts -€8,101
down €8,101 (-78.0%), from €10,391 to €2,290
- Trade debts -€3,210
down €3,210 (-74.0%), from €4,335 to €1,125
- Gross operating margin +€64,672
up €64,672 (+261.6%), from €24,718 to €89,390
- Depreciation -€9,254
down €9,254 (-98.3%), from €9,413 to €159
- Taxes +€8,019
up €8,019 (+248.8%), from €3,223 to €11,242
- Financial charges +€2,129
up €2,129 (+107.9%), from €1,973 to €4,102
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 | €52,739 | €55,996 | +€3,257 | +6.2% |
| Fixed assets | 21/28 | €31,567 | €3,609 | -€27,958 | -88.6% |
| Tangible fixed assets | 22/27 | €31,567 | €1,386 | -€30,181 | -95.6% |
| Furniture and vehicles | 24 | - | €1,386 | +€1,386 | |
| Leasing and similar rights | 25 | €31,567 | - | -€31,567 | |
| Financial fixed assets | 28 | - | €2,223 | +€2,223 | |
| Current assets | 29/58 | €21,173 | €52,387 | +€31,214 | +147.4% |
| Amounts receivable within one year | 40/41 | €1,362 | €1,077 | -€285 | -20.9% |
| Other amounts receivable | 41 | €1,362 | €1,077 | -€285 | -20.9% |
| Current investments | 50/53 | €5,287 | - | -€5,287 | |
| Cash at bank and in hand | 54/58 | €14,524 | €51,310 | +€36,786 | +253.3% |
| Total equity and liabilities | 10/49 | €52,739 | €55,996 | +€3,257 | +6.2% |
| Equity | 10/15 | €3,000 | €44,655 | +€41,655 | +1388.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Outside capital | 11 | - | €3,000 | +€3,000 | |
| Other | 1109/19 | - | €3,000 | +€3,000 | |
| Reserves | 13 | - | €41,655 | +€41,655 | |
| Distributable reserves | 133 | - | €41,655 | +€41,655 | |
| Amounts payable | 17/49 | €49,739 | €11,341 | -€38,398 | -77.2% |
| Amounts payable after more than one year | 17 | €15,894 | - | -€15,894 | |
| Financial debts | 170/4 | €15,894 | - | -€15,894 | |
| Amounts payable within one year | 42/48 | €33,846 | €11,262 | -€22,584 | -66.7% |
| Current portion of amounts payable after more than one year | 42 | €10,954 | - | -€10,954 | |
| Trade debts | 44 | €4,335 | €1,125 | -€3,210 | -74.0% |
| Suppliers | 440/4 | €4,335 | €1,125 | -€3,210 | -74.0% |
| Taxes, remuneration and social security | 45 | €8,166 | €7,846 | -€320 | -3.9% |
| Taxes | 450/3 | €8,166 | €7,846 | -€320 | -3.9% |
| Other amounts payable | 47/48 | €10,391 | €2,290 | -€8,101 | -78.0% |
| Accrued charges and deferred income | 492/3 | - | €79 | +€79 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,413 | €159 | -€9,254 | -98.3% |
| Other operating charges | 640/8 | €832 | €665 | -€166 | -20.0% |
| Non-recurring operating charges | 66A | - | €31,567 | +€31,567 | |
| Gross operating margin | 9900 | €24,718 | €89,390 | +€64,672 | +261.6% |
| Operating profit (loss) | 9901 | €14,473 | €56,999 | +€42,525 | +293.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,973 | €4,102 | +€2,129 | +107.9% |
| Recurring financial charges | 65 | €1,973 | €4,102 | +€2,129 | +107.9% |
| Profit (loss) for the period before taxes | 9903 | €12,501 | €52,897 | +€40,396 | +323.1% |
| Income taxes | 67/77 | €3,223 | €11,242 | +€8,019 | +248.8% |
| Profit (loss) for the period | 9904 | €9,279 | €41,655 | +€32,376 | +348.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,279 | €41,655 | +€32,376 | +348.9% |
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 6 October 2026 via checked.be.