ECF & ASSOCIÉS: 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.
ECF & ASSOCIÉS
Largest movements
- Receivables within one year +€133,512
up €133,512 (+212%), from €63,030 to €196,542
of which Trade receivables: +€119,342
- Cash -€52,817
down €52,817 (-55.0%), from €96,108 to €43,291
mainly Receivables within one year (-€133,512) and Investment in fixed assets (net) (-€37,842)
- Tangible fixed assets +€23,626
up €23,626 (+44.6%), from €52,938 to €76,564
of which Other tangible fixed assets: +€25,626
- Deferred charges and accrued income +€10,582
up €10,582 (+145%), from €7,302 to €17,884
- Intangible fixed assets -€9,197
down €9,197 (-100%), from €9,197 to €0
- Trade debts +€60,323
up €60,323 (+120%), from €50,159 to €110,482
- Debts after one year +€14,707
up €14,707 (+54.8%), from €26,849 to €41,555
- Profit (loss) carried forward +€13,256
up €13,256 (+10.5%), from €125,969 to €139,225
- Tax, wage and social debts +€10,328
up €10,328 (+74.5%), from €13,863 to €24,191
of which Remuneration and social security: +€8,170
- Other debts +€4,965
up €4,965 (+99.3%), from €5,000 to €9,965
- Gross operating margin +€56,568
up €56,568 (+25.5%), from €221,965 to €278,533
- Staff costs +€31,679
up €31,679 (+15.5%), from €204,168 to €235,847
- Depreciation -€13,095
down €13,095 (-35.9%), from €36,508 to €23,413
- Financial charges +€4,717
up €4,717 (+388%), from €1,217 to €5,933
of which Financial charges: +€2,840
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €258,635 | €364,340 | +€105,706 | +40.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €62,135 | €76,564 | +€14,429 | +23.2% |
| Intangible fixed assets | 21 | €9,197 | €0 | -€9,197 | -100% |
| Tangible fixed assets | 22/27 | €52,938 | €76,564 | +€23,626 | +44.6% |
| Plant, machinery and equipment | 23 | €7,798 | €5,691 | -€2,108 | -27.0% |
| Furniture and vehicles | 24 | €45,140 | €45,247 | +€107 | +0.2% |
| Other tangible fixed assets | 26 | - | €25,626 | +€25,626 | |
| Current assets | 29/58 | €196,499 | €287,776 | +€91,277 | +46.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €30,060 | €30,060 | = | 0.0% |
| Stocks | 30/36 | €30,060 | €30,060 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,030 | €196,542 | +€133,512 | +212% |
| Trade receivables | 40 | €55,435 | €174,777 | +€119,342 | +215% |
| Other amounts receivable | 41 | €7,595 | €21,765 | +€14,170 | +187% |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €96,108 | €43,291 | -€52,817 | -55.0% |
| Deferred charges and accrued income | 490/1 | €7,302 | €17,884 | +€10,582 | +145% |
| Total equity and liabilities | 10/49 | €258,635 | €364,340 | +€105,706 | +40.9% |
| Equity | 10/15 | €152,969 | €165,225 | +€12,256 | +8.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,969 | €139,225 | +€13,256 | +10.5% |
| Investment grants | 15 | €5,000 | €4,000 | -€1,000 | -20.0% |
| Amounts payable | 17/49 | €105,666 | €199,116 | +€93,450 | +88.4% |
| Amounts payable after more than one year | 17 | €26,849 | €41,555 | +€14,707 | +54.8% |
| Financial debts | 170/4 | €26,849 | €41,555 | +€14,707 | +54.8% |
| Amounts payable within one year | 42/48 | €78,817 | €157,561 | +€78,743 | +99.9% |
| Current portion of amounts payable after more than one year | 42 | €9,795 | €12,923 | +€3,128 | +31.9% |
| Trade debts | 44 | €50,159 | €110,482 | +€60,323 | +120% |
| Suppliers | 440/4 | €50,159 | €110,482 | +€60,323 | +120% |
| Taxes, remuneration and social security | 45 | €13,863 | €24,191 | +€10,328 | +74.5% |
| Taxes | 450/3 | €291 | €2,449 | +€2,158 | +741% |
| Remuneration and social security | 454/9 | €13,572 | €21,742 | +€8,170 | +60.2% |
| Other amounts payable | 47/48 | €5,000 | €9,965 | +€4,965 | +99.3% |
| Remuneration, social security and pensions | 62 | €204,168 | €235,847 | +€31,679 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,508 | €23,413 | -€13,095 | -35.9% |
| Other operating charges | 640/8 | €1,719 | €1,305 | -€415 | -24.1% |
| Non-recurring operating charges | 66A | €1,000 | €3,961 | +€2,961 | +296% |
| Gross operating margin | 9900 | €221,965 | €278,533 | +€56,568 | +25.5% |
| Operating profit (loss) | 9901 | -€21,431 | €14,007 | +€35,438 | |
| Financial income | 75/76B | €6,502 | €7,666 | +€1,163 | +17.9% |
| Recurring financial income | 75 | €6,089 | €7,666 | +€1,577 | +25.9% |
| Non-recurring financial income | 76B | €413 | €0 | -€413 | -100% |
| Financial charges | 65/66B | €1,217 | €5,933 | +€4,717 | +388% |
| Recurring financial charges | 65 | €1,217 | €4,056 | +€2,840 | +233% |
| Non-recurring financial charges | 66B | - | €1,877 | +€1,877 | |
| Profit (loss) for the period before taxes | 9903 | -€16,145 | €15,739 | +€31,885 | |
| Income taxes | 67/77 | €296 | €2,483 | +€2,187 | +738% |
| Profit (loss) for the period | 9904 | -€16,442 | €13,256 | +€29,697 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,442 | €13,256 | +€29,697 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.