ECARS: 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.
ECARS
Largest movements
- Tangible fixed assets -€8,941
down €8,941 (-3.7%), from €238,641 to €229,700
- Receivables within one year +€5,343
up €5,343 (+76.7%), from €6,966 to €12,308
of which Trade receivables: +€5,993
- Profit (loss) carried forward +€25,837
up €25,837 (+34.6%), from €74,726 to €100,564
- Debts after one year -€19,961
down €19,961 (-14.6%), from €136,586 to €116,626
- Short-term financial debts -€12,736
down €12,736 (-35.7%), from €35,715 to €22,979
of which Credit institutions: -€15,754
- Advances received -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts +€9,938
up €9,938 (+393.4%), from €2,526 to €12,464
- Turnover +€201,155
up €201,155 (+70.5%), from €285,467 to €486,622
- Purchases and services +€186,533
up €186,533 (+71.7%), from €260,073 to €446,607
- Gross operating margin +€14,884
up €14,884 (+37.3%), from €39,908 to €54,792
- Taxes +€14,758
up €14,758, from -€2,054 to €12,704
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,352 | €297,199 | -€2,153 | -0.7% |
| Fixed assets | 21/28 | €238,641 | €229,700 | -€8,941 | -3.7% |
| Tangible fixed assets | 22/27 | €238,641 | €229,700 | -€8,941 | -3.7% |
| Land and buildings | 22 | €238,641 | €229,700 | -€8,941 | -3.7% |
| Current assets | 29/58 | €60,711 | €67,499 | +€6,788 | +11.2% |
| Stocks and contracts in progress | 3 | €53,745 | €52,308 | -€1,438 | -2.7% |
| Stocks | 30/36 | €53,745 | €52,308 | -€1,438 | -2.7% |
| Amounts receivable within one year | 40/41 | €6,966 | €12,308 | +€5,343 | +76.7% |
| Trade receivables | 40 | €5,951 | €11,943 | +€5,993 | +100.7% |
| Other amounts receivable | 41 | €1,015 | €365 | -€650 | -64.0% |
| Deferred charges and accrued income | 490/1 | - | €2,883 | +€2,883 | |
| Total equity and liabilities | 10/49 | €299,352 | €297,199 | -€2,153 | -0.7% |
| Equity | 10/15 | €82,786 | €108,624 | +€25,837 | +31.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,726 | €100,564 | +€25,837 | +34.6% |
| Amounts payable | 17/49 | €216,565 | €188,575 | -€27,990 | -12.9% |
| Amounts payable after more than one year | 17 | €136,586 | €116,626 | -€19,961 | -14.6% |
| Financial debts | 170/4 | €136,586 | €116,626 | -€19,961 | -14.6% |
| Amounts payable within one year | 42/48 | €79,979 | €71,950 | -€8,029 | -10.0% |
| Financial debts | 43 | €35,715 | €22,979 | -€12,736 | -35.7% |
| Credit institutions | 430/8 | €35,715 | €19,961 | -€15,754 | -44.1% |
| Other loans | 439 | - | €3,019 | +€3,019 | |
| Trade debts | 44 | €3,615 | €887 | -€2,728 | -75.5% |
| Suppliers | 440/4 | €3,615 | €887 | -€2,728 | -75.5% |
| Advances received on contracts in progress | 46 | €12,000 | - | -€12,000 | |
| Taxes, remuneration and social security | 45 | €2,526 | €12,464 | +€9,938 | +393.4% |
| Taxes | 450/3 | €2,526 | €12,464 | +€9,938 | +393.4% |
| Other amounts payable | 47/48 | €26,122 | €35,619 | +€9,497 | +36.4% |
| Turnover | 70 | €285,467 | €486,622 | +€201,155 | +70.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €260,073 | €446,607 | +€186,533 | +71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,941 | €8,941 | = | 0.0% |
| Other operating charges | 640/8 | €1,293 | €68 | -€1,225 | -94.7% |
| Non-recurring operating charges | 66A | - | €25 | +€25 | |
| Gross operating margin | 9900 | €39,908 | €54,792 | +€14,884 | +37.3% |
| Operating profit (loss) | 9901 | €29,674 | €45,757 | +€16,083 | +54.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,763 | €7,216 | +€453 | +6.7% |
| Recurring financial charges | 65 | €6,763 | €7,216 | +€453 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €22,912 | €38,541 | +€15,630 | +68.2% |
| Income taxes | 67/77 | -€2,054 | €12,704 | +€14,758 | |
| Profit (loss) for the period | 9904 | €24,966 | €25,837 | +€871 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,966 | €25,837 | +€871 | +3.5% |
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 4 October 2026 via checked.be.