ECCO: 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.
ECCO
Largest movements
- Cash +€985,299
up €985,299 (+38.3%), from €2.6m to €3.6m
mainly Net result for the year (+€1.8m) and Depreciation (+€579,266)
- Receivables within one year +€438,239
up €438,239 (+23.6%), from €1.9m to €2.3m
of which Other amounts receivable: +€557,435
- Stocks and contracts +€252,551
up €252,551 (+12.9%), from €2.0m to €2.2m
- Tangible fixed assets +€214,960
up €214,960 (+16.2%), from €1.3m to €1.5m
of which Leasing and similar rights: +€545,293
- Current investments +€200,000
up €200,000, from €0 to €200,000
- Reserves +€1.3m
up €1.3m (+26.7%), from €5.0m to €6.4m
of which Distributable reserves: +€2.2m
- Other debts +€500,000
up €500,000, from €0 to €500,000
- Debts after one year +€310,467
up €310,467 (+91.3%), from €339,911 to €650,377
- Staff costs +€495,547
up €495,547 (+38.8%), from €1.3m to €1.8m
- Financial income -€306,875
down €306,875 (-72.0%), from €426,122 to €119,246
- Gross operating margin +€182,143
up €182,143 (+4.4%), from €4.1m to €4.3m
- Depreciation +€95,265
up €95,265 (+19.7%), from €484,001 to €579,266
- Taxes -€93,992
down €93,992, from €19,279 to -€74,713
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 | €7,895,910 | €10,070,628 | +€2.2m | +27.5% |
| Fixed assets | 21/28 | €1,392,856 | €1,654,627 | +€261,771 | +18.8% |
| Intangible fixed assets | 21 | €66,135 | €62,946 | -€3,189 | -4.8% |
| Tangible fixed assets | 22/27 | €1,325,970 | €1,540,930 | +€214,960 | +16.2% |
| Land and buildings | 22 | €554,542 | €575,442 | +€20,900 | +3.8% |
| Plant, machinery and equipment | 23 | €585,879 | €288,412 | -€297,467 | -50.8% |
| Furniture and vehicles | 24 | €185,549 | €126,603 | -€58,946 | -31.8% |
| Leasing and similar rights | 25 | - | €545,293 | +€545,293 | |
| Other tangible fixed assets | 26 | - | €5,180 | +€5,180 | |
| Financial fixed assets | 28 | €750 | €50,750 | +€50,000 | +6666.7% |
| Current assets | 29/58 | €6,503,055 | €8,416,001 | +€1.9m | +29.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,964,058 | €2,216,609 | +€252,551 | +12.9% |
| Stocks | 30/36 | €1,964,058 | €2,216,609 | +€252,551 | +12.9% |
| Amounts receivable within one year | 40/41 | €1,856,991 | €2,295,230 | +€438,239 | +23.6% |
| Trade receivables | 40 | €552,820 | €433,624 | -€119,196 | -21.6% |
| Other amounts receivable | 41 | €1,304,171 | €1,861,607 | +€557,435 | +42.7% |
| Current investments | 50/53 | €0 | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €2,574,396 | €3,559,695 | +€985,299 | +38.3% |
| Deferred charges and accrued income | 490/1 | €107,610 | €144,466 | +€36,857 | +34.3% |
| Total equity and liabilities | 10/49 | €7,895,910 | €10,070,628 | +€2.2m | +27.5% |
| Equity | 10/15 | €5,045,482 | €6,386,024 | +€1.3m | +26.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,026,882 | €6,367,424 | +€1.3m | +26.7% |
| Tax-exempt reserves | 132 | €2,083,341 | €1,249,761 | -€833,580 | -40.0% |
| Distributable reserves | 133 | €2,943,541 | €5,117,663 | +€2.2m | +73.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,850,428 | €3,684,604 | +€834,176 | +29.3% |
| Amounts payable after more than one year | 17 | €339,911 | €650,377 | +€310,467 | +91.3% |
| Financial debts | 170/4 | €339,911 | €650,377 | +€310,467 | +91.3% |
| Amounts payable within one year | 42/48 | €2,497,481 | €3,034,227 | +€536,746 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €274,438 | €262,799 | -€11,640 | -4.2% |
| Trade debts | 44 | €2,029,677 | €1,988,574 | -€41,102 | -2.0% |
| Suppliers | 440/4 | €2,029,677 | €1,988,574 | -€41,102 | -2.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €193,366 | €282,854 | +€89,488 | +46.3% |
| Taxes | 450/3 | €33,334 | €54,380 | +€21,046 | +63.1% |
| Remuneration and social security | 454/9 | €160,032 | €228,473 | +€68,441 | +42.8% |
| Other amounts payable | 47/48 | €0 | €500,000 | +€500,000 | |
| Accrued charges and deferred income | 492/3 | €13,037 | €0 | -€13,037 | -100.0% |
| Non-recurring operating income | 76A | €4,068 | €0 | -€4,068 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,277,613 | €1,773,160 | +€495,547 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484,001 | €579,266 | +€95,265 | +19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €88,044 | +€88,044 | |
| Other operating charges | 640/8 | €85,987 | €64,003 | -€21,983 | -25.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,145,311 | €4,327,454 | +€182,143 | +4.4% |
| Operating profit (loss) | 9901 | €2,297,710 | €1,822,980 | -€474,730 | -20.7% |
| Financial income | 75/76B | €426,122 | €119,246 | -€306,875 | -72.0% |
| Recurring financial income | 75 | €426,122 | €119,246 | -€306,875 | -72.0% |
| Financial charges | 65/66B | €152,612 | €176,398 | +€23,787 | +15.6% |
| Recurring financial charges | 65 | €152,612 | €176,398 | +€23,787 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €2,571,220 | €1,765,829 | -€805,392 | -31.3% |
| Income taxes | 67/77 | €19,279 | -€74,713 | -€93,992 | |
| Profit (loss) for the period | 9904 | €2,551,942 | €1,840,542 | -€711,400 | -27.9% |
| Transfer from tax-exempt reserves | 789 | €427,200 | €833,580 | +€406,380 | +95.1% |
| Transfer to tax-exempt reserves | 689 | €35,600 | €0 | -€35,600 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,943,541 | €2,674,122 | -€269,420 | -9.2% |
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 3 October 2026 via checked.be.