ECE: 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.
What changed
ECE
NACE 47.400, Retail sale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.0m+€159,354
Equity
€3.8m
2024 · €2.6m+€1.2m
Cash
€1.1m
2024 · €737,421+€399,313
Balance sheet total
€29.9m
2024 · €21.9m+€8.1m
Largest movements
Assets
- Financial fixed assets +€7.6m
up €7.6m (+74.6%), from €10.2m to €17.7m
of which Affiliated companies: +€7.6m
- Receivables within one year +€502,353
up €502,353 (+12.9%), from €3.9m to €4.4m
of which Other amounts receivable: +€282,923
- Cash +€399,313
up €399,313 (+54.1%), from €737,421 to €1.1m
mainly Debts after one year (+€2.6m) and Other debts (+€2.1m)
Equity and liabilities
- Debts after one year +€2.6m
up €2.6m (+19.5%), from €13.6m to €16.2m
- Other debts +€2.1m
up €2.1m (+428.5%), from €499,818 to €2.6m
- Current portion of long-term debt +€1.6m
up €1.6m (+111.4%), from €1.5m to €3.1m
- Reserves +€1.2m
up €1.2m (+46.9%), from €2.6m to €3.8m
Income statement
- Turnover +€2.2m
up €2.2m (+12.4%), from €17.6m to €19.8m
- Goods and materials +€1.2m
up €1.2m (+20.6%), from €5.7m to €6.9m
- Staff costs +€244,209
up €244,209 (+3.3%), from €7.4m to €7.7m
- Services and other goods +€208,740
up €208,740 (+6.9%), from €3.0m to €3.2m
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.
Result 2024
€1.0m
Turnover
+€2.2m
Other operating income
-€35,328
Goods and materials
-€1.2m
Services and other goods
-€208,740
Staff costs
-€244,209
Depreciation
-€44,783
Other operating charges
+€734
Other operating items
-€196,864
Financial income
+€8,390
Financial charges
-€54,183
Taxes
-€67,532
Result 2025
€1.2m
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.
From operations
+€3.8m
Investment
-€7.7m
Financing
+€4.3m
Cash 2024
€737,421
From operations (derived)
+€3.8m
Net result for the year
+€1.2m
Depreciation
+€105,554
Receivables after one year
+€220,426
Receivables within one year
-€502,353
Deferred charges and accrued income
+€215,609
Trade debts
+€244,104
Tax, wage and social debts
-€41,189
Other debts
+€2.1m
Accrued charges and deferred income
+€261,868
Investment (derived)
-€7.7m
Investment in fixed assets (net)
-€7.7m
Financing
+€4.3m
Debts after one year
+€2.6m
Current portion of long-term debt
+€1.6m
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,874,090 | €29,947,531 | +€8.1m | +36.9% |
| Fixed assets | 21/28 | €10,452,954 | €18,060,765 | +€7.6m | +72.8% |
| Intangible fixed assets | 21 | €195,054 | €156,043 | -€39,011 | -20.0% |
| Tangible fixed assets | 22/27 | €102,404 | €175,324 | +€72,920 | +71.2% |
| Plant, machinery and equipment | 23 | €37,103 | €50,705 | +€13,602 | +36.7% |
| Furniture and vehicles | 24 | €65,300 | €121,533 | +€56,232 | +86.1% |
| Other tangible fixed assets | 26 | €0 | €3,086 | +€3,086 | |
| Financial fixed assets | 28 | €10,155,496 | €17,729,398 | +€7.6m | +74.6% |
| Affiliated companies | 280/1 | €10,140,596 | €17,714,498 | +€7.6m | +74.7% |
| Participating interests | 280 | €10,140,596 | €17,714,498 | +€7.6m | +74.7% |
| Other financial fixed assets | 284/8 | €14,900 | €14,900 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €14,900 | €14,900 | = | 0.0% |
| Current assets | 29/58 | €11,421,136 | €11,886,766 | +€465,630 | +4.1% |
| Amounts receivable after more than one year | 29 | €6,480,000 | €6,259,574 | -€220,426 | -3.4% |
| Other amounts receivable | 291 | €6,480,000 | €6,259,574 | -€220,426 | -3.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,884,268 | €4,386,621 | +€502,353 | +12.9% |
| Trade receivables | 40 | €3,882,638 | €4,102,068 | +€219,430 | +5.7% |
| Other amounts receivable | 41 | €1,630 | €284,552 | +€282,923 | +17360.3% |
| Cash at bank and in hand | 54/58 | €737,421 | €1,136,734 | +€399,313 | +54.1% |
| Deferred charges and accrued income | 490/1 | €319,447 | €103,838 | -€215,609 | -67.5% |
| Total equity and liabilities | 10/49 | €21,874,090 | €29,947,531 | +€8.1m | +36.9% |
| Equity | 10/15 | €2,601,108 | €3,801,460 | +€1.2m | +46.1% |
| Contributions | 10/11 | €40,920 | €40,920 | = | 0.0% |
| Reserves | 13 | €2,560,188 | €3,760,540 | +€1.2m | +46.9% |
| Distributable reserves | 133 | €2,560,188 | €3,760,540 | +€1.2m | +46.9% |
| Amounts payable | 17/49 | €19,272,982 | €26,146,071 | +€6.9m | +35.7% |
| Amounts payable after more than one year | 17 | €13,558,333 | €16,200,000 | +€2.6m | +19.5% |
| Financial debts | 170/4 | €13,558,333 | €16,200,000 | +€2.6m | +19.5% |
| Subordinated loans | 170 | - | €920,000 | +€920,000 | |
| Credit institutions | 173 | €13,558,333 | €11,975,000 | -€1.6m | -11.7% |
| Other loans | 174 | - | €3,305,000 | +€3.3m | |
| Amounts payable within one year | 42/48 | €5,366,028 | €9,335,583 | +€4.0m | +74.0% |
| Current portion of amounts payable after more than one year | 42 | €1,458,333 | €3,083,333 | +€1.6m | +111.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,509,284 | €1,753,387 | +€244,104 | +16.2% |
| Suppliers | 440/4 | €1,509,284 | €1,753,387 | +€244,104 | +16.2% |
| Taxes, remuneration and social security | 45 | €1,898,594 | €1,857,404 | -€41,189 | -2.2% |
| Taxes | 450/3 | €531,275 | €425,718 | -€105,557 | -19.9% |
| Remuneration and social security | 454/9 | €1,367,319 | €1,431,687 | +€64,368 | +4.7% |
| Other amounts payable | 47/48 | €499,818 | €2,641,458 | +€2.1m | +428.5% |
| Accrued charges and deferred income | 492/3 | €348,620 | €610,489 | +€261,868 | +75.1% |
| Operating income | 70/76A | €18,414,274 | €20,363,392 | +€1.9m | +10.6% |
| Turnover | 70 | €17,630,736 | €19,812,045 | +€2.2m | +12.4% |
| Own construction capitalised | 72 | €195,054 | €0 | -€195,054 | -100.0% |
| Other operating income | 74 | €586,675 | €551,347 | -€35,328 | -6.0% |
| Non-recurring operating income | 76A | €1,810 | €0 | -€1,810 | -100.0% |
| Operating charges | 60/66A | €16,227,060 | €17,903,498 | +€1.7m | +10.3% |
| Goods for resale, raw materials and consumables | 60 | €5,721,147 | €6,900,586 | +€1.2m | +20.6% |
| Purchases | 600/8 | €5,721,147 | €6,900,586 | +€1.2m | +20.6% |
| Services and other goods | 61 | €3,013,533 | €3,222,273 | +€208,740 | +6.9% |
| Remuneration, social security and pensions | 62 | €7,417,470 | €7,661,678 | +€244,209 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,771 | €105,554 | +€44,783 | +73.7% |
| Other operating charges | 640/8 | €14,139 | €13,406 | -€734 | -5.2% |
| Operating profit (loss) | 9901 | €2,187,214 | €2,459,894 | +€272,680 | +12.5% |
| Financial income | 75/76B | €276,082 | €284,473 | +€8,390 | +3.0% |
| Recurring financial income | 75 | €276,082 | €284,473 | +€8,390 | +3.0% |
| Income from current assets | 751 | €275,374 | €284,342 | +€8,968 | +3.3% |
| Other financial income | 752/9 | €708 | €130 | -€578 | -81.6% |
| Financial charges | 65/66B | €989,348 | €1,043,531 | +€54,183 | +5.5% |
| Recurring financial charges | 65 | €989,348 | €1,043,531 | +€54,183 | +5.5% |
| Debt charges | 650 | €972,181 | €1,016,119 | +€43,937 | +4.5% |
| Other financial charges | 652/9 | €17,166 | €27,413 | +€10,246 | +59.7% |
| Profit (loss) for the period before taxes | 9903 | €1,473,949 | €1,700,835 | +€226,886 | +15.4% |
| Income taxes | 67/77 | €432,951 | €500,484 | +€67,532 | +15.6% |
| Taxes | 670/3 | €432,951 | €500,484 | +€67,532 | +15.6% |
| Profit (loss) for the period | 9904 | €1,040,998 | €1,200,352 | +€159,354 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,040,998 | €1,200,352 | +€159,354 | +15.3% |
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 29 September 2026 via checked.be.