ECAVEE: 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.
ECAVEE
Largest movements
- Tangible fixed assets -€483,432
down €483,432 (-7.1%), from €6.8m to €6.3m
of which Land and buildings: -€350,977
- Deferred charges and accrued income -€392,861
down €392,861 (-93.0%), from €422,609 to €29,748
- Cash +€221,386
up €221,386 (+695.6%), from €31,827 to €253,213
mainly Depreciation (+€483,432) and Deferred charges and accrued income (+€392,861)
- Stocks and contracts -€101,212
down €101,212 (-10.6%), from €958,580 to €857,369
- Profit (loss) carried forward -€583,334
down €583,334 (-29.6%), from -€2.0m to -€2.6m
- Current portion of long-term debt -€127,093
no longer reported in 2025 (was €127,093)
- Gross operating margin +€241,789
up €241,789 (+142.6%), from €169,606 to €411,395
- Staff costs +€98,108
up €98,108 (+27.7%), from €353,649 to €451,758
- Other operating charges +€24,190
up €24,190 (+93.5%), from €25,876 to €50,066
- Financial charges -€5,831
down €5,831 (-39.9%), from €14,627 to €8,796
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 | €8,421,001 | €7,666,142 | -€754,858 | -9.0% |
| Fixed assets | 21/28 | €6,810,999 | €6,327,567 | -€483,432 | -7.1% |
| Tangible fixed assets | 22/27 | €6,808,260 | €6,324,828 | -€483,432 | -7.1% |
| Land and buildings | 22 | €5,327,345 | €4,976,368 | -€350,977 | -6.6% |
| Plant, machinery and equipment | 23 | €567,817 | €493,491 | -€74,327 | -13.1% |
| Furniture and vehicles | 24 | €290,091 | €239,650 | -€50,442 | -17.4% |
| Other tangible fixed assets | 26 | €623,006 | €615,319 | -€7,687 | -1.2% |
| Financial fixed assets | 28 | €2,739 | €2,739 | = | 0.0% |
| Current assets | 29/58 | €1,610,002 | €1,338,576 | -€271,426 | -16.9% |
| Stocks and contracts in progress | 3 | €958,580 | €857,369 | -€101,212 | -10.6% |
| Stocks | 30/36 | €958,580 | €857,369 | -€101,212 | -10.6% |
| Amounts receivable within one year | 40/41 | €196,986 | €198,246 | +€1,260 | +0.6% |
| Trade receivables | 40 | €196,986 | €198,246 | +€1,260 | +0.6% |
| Cash at bank and in hand | 54/58 | €31,827 | €253,213 | +€221,386 | +695.6% |
| Deferred charges and accrued income | 490/1 | €422,609 | €29,748 | -€392,861 | -93.0% |
| Total equity and liabilities | 10/49 | €8,421,001 | €7,666,142 | -€754,858 | -9.0% |
| Equity | 10/15 | €2,731,967 | €2,148,633 | -€583,334 | -21.4% |
| Contributions | 10/11 | €3,400,000 | €3,400,000 | = | 0.0% |
| Capital | 10 | €3,400,000 | €3,400,000 | = | 0.0% |
| Issued capital | 100 | €3,400,000 | €3,400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €662,000 | €620,000 | -€42,000 | -6.3% |
| Reserves | 13 | €643,669 | €685,669 | +€42,000 | +6.5% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €628,669 | €670,669 | +€42,000 | +6.7% |
| Profit (loss) carried forward | 14 | -€1,973,702 | -€2,557,036 | -€583,334 | -29.6% |
| Amounts payable | 17/49 | €5,689,034 | €5,517,509 | -€171,525 | -3.0% |
| Amounts payable within one year | 42/48 | €5,689,034 | €5,517,509 | -€171,525 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €127,093 | - | -€127,093 | |
| Trade debts | 44 | €190,341 | €121,948 | -€68,394 | -35.9% |
| Suppliers | 440/4 | €190,341 | €121,948 | -€68,394 | -35.9% |
| Advances received on contracts in progress | 46 | €38,690 | €66,659 | +€27,970 | +72.3% |
| Taxes, remuneration and social security | 45 | €60,299 | €68,987 | +€8,689 | +14.4% |
| Taxes | 450/3 | €5,772 | €14,436 | +€8,664 | +150.1% |
| Remuneration and social security | 454/9 | €54,527 | €54,552 | +€25 | 0.0% |
| Other amounts payable | 47/48 | €5,272,611 | €5,259,915 | -€12,696 | -0.2% |
| Non-recurring operating income | 76A | €28,000 | €337 | -€27,663 | -98.8% |
| Remuneration, social security and pensions | 62 | €353,649 | €451,758 | +€98,108 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484,632 | €483,432 | -€1,200 | -0.2% |
| Other operating charges | 640/8 | €25,876 | €50,066 | +€24,190 | +93.5% |
| Non-recurring operating charges | 66A | €50,570 | €585 | -€49,985 | -98.8% |
| Gross operating margin | 9900 | €169,606 | €411,395 | +€241,789 | +142.6% |
| Operating profit (loss) | 9901 | -€745,122 | -€574,446 | +€170,676 | +22.9% |
| Financial income | 75/76B | €1,336 | €165 | -€1,171 | -87.6% |
| Recurring financial income | 75 | €1,336 | €165 | -€1,171 | -87.6% |
| Financial charges | 65/66B | €14,627 | €8,796 | -€5,831 | -39.9% |
| Recurring financial charges | 65 | €14,627 | €8,796 | -€5,831 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | -€758,413 | -€583,077 | +€175,336 | +23.1% |
| Income taxes | 67/77 | €148 | €257 | +€109 | +73.3% |
| Profit (loss) for the period | 9904 | -€758,561 | -€583,334 | +€175,228 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€758,561 | -€583,334 | +€175,228 | +23.1% |
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.