ECETIA INTERCOMMUNALE: 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.
What changed
ECETIA INTERCOMMUNALE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€547,364
2024 · €635,869-€88,505
Equity
€53.8m
2024 · €52.2m+€1.5m
Cash
€1.5m
2024 · €2.7m-€1.2m
Balance sheet total
€57.5m
2024 · €56.8m+€788,039
Largest movements
Assets
- Tangible fixed assets +€4.5m
up €4.5m (+20.1%), from €22.5m to €27.1m
of which Other tangible fixed assets: +€2.5m
- Cash -€1.2m
down €1.2m (-45.9%), from €2.7m to €1.5m
mainly Investment in fixed assets (net) (-€4.4m) and Debts after one year (-€753,733)
- Receivables after one year -€1.2m
down €1.2m (-18.6%), from €6.5m to €5.3m
- Financial fixed assets -€933,805
down €933,805 (-6.0%), from €15.5m to €14.5m
- Current investments +€600,000
up €600,000 (+17.1%), from €3.5m to €4.1m
Equity and liabilities
- Reserves +€2.2m
up €2.2m (+4.7%), from €47.0m to €49.2m
of which Non-distributable reserves: +€2.0m
- Profit (loss) carried forward -€1.7m
down €1.7m (-90.2%), from €1.8m to €178,906
- Investment grants +€999,449
up €999,449 (+38.9%), from €2.6m to €3.6m
- Debts after one year -€753,733
down €753,733 (-45.3%), from €1.7m to €911,690
Income statement
- Purchases and services -€180,802
down €180,802 (-9.8%), from €1.8m to €1.7m
- Taxes -€101,161
down €101,161 (-43.5%), from €232,411 to €131,250
- Financial income -€85,706
down €85,706 (-7.8%), from €1.1m to €1.0m
- Gross operating margin +€73,507
up €73,507 (+4.0%), from €1.8m to €1.9m
- Other operating charges +€56,507
up €56,507 (+170%), from €33,145 to €89,652
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
€635,869
Gross operating margin
+€73,507
Staff costs
-€21,890
Depreciation
+€41,911
Write-downs
+€7,947
Other operating charges
-€56,507
Other operating items
-€184,267
Financial income
-€85,706
Financial charges
+€35,833
Taxes
+€101,161
Deferred taxes and other
-€494
Result 2025
€547,364
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.5m
Investment
-€5.0m
Financing
+€267,061
Cash 2024
€2.7m
From operations (derived)
+€3.5m
Net result for the year
+€547,364
Depreciation
+€834,221
Receivables after one year
+€1.2m
Stocks and contracts
+€337,736
Receivables within one year
+€437,719
Deferred charges and accrued income
+€154,400
Smaller working-capital items
-€2,917
Trade debts
+€78,414
Accrued charges and deferred income
-€101,882
Investment (derived)
-€5.0m
Investment in fixed assets (net)
-€4.4m
Current investments
-€600,000
Financing
+€267,061
Debts after one year
-€753,733
Current portion of long-term debt
+€20,820
Contributions, distributions and other
+€999,974
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,753,136 | €57,541,175 | +€788,039 | +1.4% |
| Fixed assets | 21/28 | €38,118,775 | €41,673,944 | +€3.6m | +9.3% |
| Intangible fixed assets | 21 | €103,935 | €59,761 | -€44,174 | -42.5% |
| Tangible fixed assets | 22/27 | €22,547,424 | €27,080,572 | +€4.5m | +20.1% |
| Land and buildings | 22 | €123,296 | €171,459 | +€48,163 | +39.1% |
| Furniture and vehicles | 24 | €39,349 | €30,069 | -€9,280 | -23.6% |
| Other tangible fixed assets | 26 | €19,263,828 | €21,779,299 | +€2.5m | +13.1% |
| Assets under construction and advance payments | 27 | €3,120,951 | €5,099,745 | +€2.0m | +63.4% |
| Financial fixed assets | 28 | €15,467,416 | €14,533,611 | -€933,805 | -6.0% |
| Current assets | 29/58 | €18,634,361 | €15,867,231 | -€2.8m | -14.8% |
| Amounts receivable after more than one year | 29 | €6,468,316 | €5,265,579 | -€1.2m | -18.6% |
| Trade receivables | 290 | €6,468,316 | €5,265,579 | -€1.2m | -18.6% |
| Stocks and contracts in progress | 3 | €1,258,579 | €920,843 | -€337,736 | -26.8% |
| Stocks | 30/36 | €1,258,579 | €920,843 | -€337,736 | -26.8% |
| Amounts receivable within one year | 40/41 | €4,528,024 | €4,090,305 | -€437,719 | -9.7% |
| Trade receivables | 40 | €1,112,823 | €479,761 | -€633,062 | -56.9% |
| Other amounts receivable | 41 | €3,415,201 | €3,610,544 | +€195,343 | +5.7% |
| Current investments | 50/53 | €3,500,000 | €4,100,000 | +€600,000 | +17.1% |
| Cash at bank and in hand | 54/58 | €2,687,928 | €1,453,390 | -€1.2m | -45.9% |
| Deferred charges and accrued income | 490/1 | €191,514 | €37,114 | -€154,400 | -80.6% |
| Total equity and liabilities | 10/49 | €56,753,136 | €57,541,175 | +€788,039 | +1.4% |
| Equity | 10/15 | €52,222,375 | €53,769,713 | +€1.5m | +3.0% |
| Contributions | 10/11 | €777,675 | €778,200 | +€525 | +0.1% |
| Reserves | 13 | €47,041,877 | €49,242,889 | +€2.2m | +4.7% |
| Non-distributable reserves | 130/1 | €43,078,443 | €45,078,443 | +€2.0m | +4.6% |
| Reserves not available under the articles | 1311 | €78,443 | €78,443 | = | 0.0% |
| Other | 1319 | €43,000,000 | €45,000,000 | +€2.0m | +4.7% |
| Tax-exempt reserves | 132 | €963,434 | €1,164,446 | +€201,012 | +20.9% |
| Distributable reserves | 133 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,832,554 | €178,906 | -€1.7m | -90.2% |
| Investment grants | 15 | €2,570,269 | €3,569,718 | +€999,449 | +38.9% |
| Provisions and deferred taxes | 16 | €158,148 | €154,985 | -€3,163 | -2.0% |
| Deferred taxes | 168 | €158,148 | €154,985 | -€3,163 | -2.0% |
| Amounts payable | 17/49 | €4,372,613 | €3,616,478 | -€756,135 | -17.3% |
| Amounts payable after more than one year | 17 | €1,665,423 | €911,690 | -€753,733 | -45.3% |
| Financial debts | 170/4 | €1,665,423 | €911,690 | -€753,733 | -45.3% |
| Amounts payable within one year | 42/48 | €2,081,749 | €2,181,229 | +€99,480 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €918,700 | €939,520 | +€20,820 | +2.3% |
| Trade debts | 44 | €830,150 | €908,564 | +€78,414 | +9.4% |
| Suppliers | 440/4 | €830,150 | €908,564 | +€78,414 | +9.4% |
| Advances received on contracts in progress | 46 | €20,000 | €20,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €312,899 | €313,145 | +€246 | +0.1% |
| Taxes | 450/3 | €173,314 | €163,314 | -€10,000 | -5.8% |
| Remuneration and social security | 454/9 | €139,585 | €149,831 | +€10,246 | +7.3% |
| Accrued charges and deferred income | 492/3 | €625,441 | €523,559 | -€101,882 | -16.3% |
| Turnover | 70 | €2,884,161 | €2,850,123 | -€34,038 | -1.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,838,999 | €1,658,197 | -€180,802 | -9.8% |
| Remuneration, social security and pensions | 62 | €1,029,307 | €1,051,197 | +€21,890 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €876,132 | €834,221 | -€41,911 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€7,947 | -€7,947 | |
| Other operating charges | 640/8 | €33,145 | €89,652 | +€56,507 | +170% |
| Non-recurring operating charges | 66A | - | €184,267 | +€184,267 | |
| Gross operating margin | 9900 | €1,825,731 | €1,899,238 | +€73,507 | +4.0% |
| Operating profit (loss) | 9901 | -€112,853 | -€252,152 | -€139,299 | -123% |
| Financial income | 75/76B | €1,104,345 | €1,018,639 | -€85,706 | -7.8% |
| Recurring financial income | 75 | €1,104,345 | €1,018,639 | -€85,706 | -7.8% |
| Financial charges | 65/66B | €126,869 | €91,036 | -€35,833 | -28.2% |
| Recurring financial charges | 65 | €126,869 | €91,036 | -€35,833 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €864,623 | €675,451 | -€189,172 | -21.9% |
| Transfer from deferred taxes | 780 | €3,657 | €3,163 | -€494 | -13.5% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €232,411 | €131,250 | -€101,161 | -43.5% |
| Profit (loss) for the period | 9904 | €635,869 | €547,364 | -€88,505 | -13.9% |
| Transfer from tax-exempt reserves | 789 | €10,972 | €9,488 | -€1,484 | -13.5% |
| Transfer to tax-exempt reserves | 689 | €168,400 | €210,500 | +€42,100 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €478,441 | €346,352 | -€132,089 | -27.6% |
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 13 October 2026 via checked.be.