ECE15: what changed
Two financial 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.
ECE15
Largest movements
- Receivables within one year +€12,405
up €12,405 (+14.7%), from €84,172 to €96,577
of which Other amounts receivable: +€11,373
- Tangible fixed assets -€4,292
down €4,292 (-37.5%), from €11,460 to €7,168
of which Plant, machinery and equipment: -€2,464
- Profit (loss) carried forward -€46,913
down €46,913, from €29,634 to -€17,279
- Trade debts +€44,999
up €44,999 (+87.0%), from €51,708 to €96,708
- Tax, wage and social debts +€14,809
up €14,809 (+133%), from €11,173 to €25,982
of which Remuneration and social security: +€10,619
- Short-term financial debts -€2,902
no longer reported in 2025 (was €2,902)
- Gross operating margin -€51,663
down €51,663, from €10,285 to -€41,378
- Other operating charges +€2,900
up €2,900 (+1,105%), from €263 to €3,163
- Staff costs -€2,044
no longer reported in 2025 (was €2,044)
- Financial charges +€939
up €939 (+66.1%), from €1,421 to €2,360
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.
Derived cash bridge
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 | €97,775 | €107,271 | +€9,496 | +9.7% |
| Fixed assets | 21/28 | €13,565 | €9,273 | -€4,292 | -31.6% |
| Tangible fixed assets | 22/27 | €11,460 | €7,168 | -€4,292 | -37.5% |
| Plant, machinery and equipment | 23 | €5,309 | €2,845 | -€2,464 | -46.4% |
| Furniture and vehicles | 24 | €6,151 | €4,323 | -€1,828 | -29.7% |
| Financial fixed assets | 28 | €2,105 | €2,105 | = | 0.0% |
| Current assets | 29/58 | €84,210 | €97,998 | +€13,788 | +16.4% |
| Amounts receivable within one year | 40/41 | €84,172 | €96,577 | +€12,405 | +14.7% |
| Trade receivables | 40 | €9,955 | €10,987 | +€1,032 | +10.4% |
| Other amounts receivable | 41 | €74,217 | €85,590 | +€11,373 | +15.3% |
| Cash at bank and in hand | 54/58 | €0 | €432 | +€432 | |
| Deferred charges and accrued income | 490/1 | €38 | €989 | +€951 | +2,507% |
| Total equity and liabilities | 10/49 | €97,775 | €107,271 | +€9,496 | +9.7% |
| Equity | 10/15 | €31,495 | -€15,418 | -€46,913 | |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Capital | 10 | €1 | €1 | = | 0.0% |
| Issued capital | 100 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,634 | -€17,279 | -€46,913 | |
| Amounts payable | 17/49 | €66,280 | €122,690 | +€56,409 | +85.1% |
| Amounts payable within one year | 42/48 | €66,280 | €122,690 | +€56,409 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €497 | - | -€497 | |
| Financial debts | 43 | €2,902 | - | -€2,902 | |
| Credit institutions | 430/8 | €2,902 | - | -€2,902 | |
| Trade debts | 44 | €51,708 | €96,708 | +€44,999 | +87.0% |
| Suppliers | 440/4 | €51,708 | €96,708 | +€44,999 | +87.0% |
| Taxes, remuneration and social security | 45 | €11,173 | €25,982 | +€14,809 | +133% |
| Taxes | 450/3 | €4,851 | €9,041 | +€4,189 | +86.4% |
| Remuneration and social security | 454/9 | €6,322 | €16,941 | +€10,619 | +168% |
| Non-recurring operating income | 76A | €17,500 | - | -€17,500 | |
| Remuneration, social security and pensions | 62 | €2,044 | - | -€2,044 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,421 | €4,292 | -€129 | -2.9% |
| Other operating charges | 640/8 | €263 | €3,163 | +€2,900 | +1,105% |
| Gross operating margin | 9900 | €10,285 | -€41,378 | -€51,663 | |
| Operating profit (loss) | 9901 | €3,557 | -€48,833 | -€52,390 | |
| Financial income | 75/76B | €4,265 | €4,279 | +€14 | +0.3% |
| Recurring financial income | 75 | €4,265 | €4,279 | +€14 | +0.3% |
| Financial charges | 65/66B | €1,421 | €2,360 | +€939 | +66.1% |
| Recurring financial charges | 65 | €1,421 | €2,360 | +€939 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €6,401 | -€46,913 | -€53,315 | |
| Profit (loss) for the period | 9904 | €6,401 | -€46,913 | -€53,315 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,401 | -€46,913 | -€53,315 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.