ECG: 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.
ECG
Largest movements
- Receivables within one year -€36,572
down €36,572 (-89.8%), from €40,723 to €4,151
of which Trade receivables: -€33,171
- Stocks and contracts +€6,726
new in 2025: €6,726
of which Contracts in progress: +€6,034
- Cash +€5,488
up €5,488 (+170%), from €3,237 to €8,725
mainly Receivables within one year (+€36,572) and Depreciation (+€4,115)
- Tangible fixed assets -€1,170
down €1,170 (-13.3%), from €8,773 to €7,603
of which Furniture and vehicles: -€3,186
- Financial fixed assets -€975
down €975 (-100%), from €975 to €0
- Trade debts -€19,847
down €19,847 (-93.0%), from €21,336 to €1,489
- Debts after one year -€3,673
down €3,673 (-61.1%), from €6,011 to €2,338
- Tax, wage and social debts -€3,383
down €3,383 (-34.6%), from €9,764 to €6,381
of which Remuneration and social security: -€3,352
- Other debts +€2,368
new in 2025: €2,368
- Profit (loss) carried forward -€1,657
down €1,657 (-14.4%), from €11,521 to €9,864
- Staff costs +€13,624
up €13,624 (+75.5%), from €18,052 to €31,676
- Taxes -€3,867
down €3,867, from €3,836 to -€31
- Depreciation +€2,384
up €2,384 (+138%), from €1,731 to €4,115
- Gross operating margin -€646
down €646 (-1.8%), from €36,186 to €35,541
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 | €55,783 | €30,424 | -€25,359 | -45.5% |
| Fixed assets | 21/28 | €9,748 | €7,603 | -€2,145 | -22.0% |
| Tangible fixed assets | 22/27 | €8,773 | €7,603 | -€1,170 | -13.3% |
| Plant, machinery and equipment | 23 | €596 | €256 | -€340 | -57.0% |
| Furniture and vehicles | 24 | €8,177 | €4,991 | -€3,186 | -39.0% |
| Other tangible fixed assets | 26 | - | €2,356 | +€2,356 | |
| Financial fixed assets | 28 | €975 | €0 | -€975 | -100% |
| Current assets | 29/58 | €46,035 | €22,821 | -€23,214 | -50.4% |
| Stocks and contracts in progress | 3 | - | €6,726 | +€6,726 | |
| Stocks | 30/36 | - | €692 | +€692 | |
| Contracts in progress | 37 | - | €6,034 | +€6,034 | |
| Amounts receivable within one year | 40/41 | €40,723 | €4,151 | -€36,572 | -89.8% |
| Trade receivables | 40 | €35,579 | €2,408 | -€33,171 | -93.2% |
| Other amounts receivable | 41 | €5,144 | €1,742 | -€3,402 | -66.1% |
| Current investments | 50/53 | - | €300 | +€300 | |
| Cash at bank and in hand | 54/58 | €3,237 | €8,725 | +€5,488 | +170% |
| Deferred charges and accrued income | 490/1 | €2,075 | €2,920 | +€845 | +40.7% |
| Total equity and liabilities | 10/49 | €55,783 | €30,424 | -€25,359 | -45.5% |
| Equity | 10/15 | €16,521 | €14,864 | -€1,657 | -10.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €11,521 | €9,864 | -€1,657 | -14.4% |
| Amounts payable | 17/49 | €39,262 | €15,560 | -€23,702 | -60.4% |
| Amounts payable after more than one year | 17 | €6,011 | €2,338 | -€3,673 | -61.1% |
| Financial debts | 170/4 | €6,011 | €2,338 | -€3,673 | -61.1% |
| Amounts payable within one year | 42/48 | €33,251 | €13,222 | -€20,029 | -60.2% |
| Current portion of amounts payable after more than one year | 42 | €2,151 | €2,984 | +€833 | +38.7% |
| Trade debts | 44 | €21,336 | €1,489 | -€19,847 | -93.0% |
| Suppliers | 440/4 | €21,336 | €1,489 | -€19,847 | -93.0% |
| Taxes, remuneration and social security | 45 | €9,764 | €6,381 | -€3,383 | -34.6% |
| Taxes | 450/3 | €3,836 | €3,805 | -€31 | -0.8% |
| Remuneration and social security | 454/9 | €5,928 | €2,576 | -€3,352 | -56.5% |
| Other amounts payable | 47/48 | - | €2,368 | +€2,368 | |
| Remuneration, social security and pensions | 62 | €18,052 | €31,676 | +€13,624 | +75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,731 | €4,115 | +€2,384 | +138% |
| Other operating charges | 640/8 | €250 | €458 | +€208 | +83.3% |
| Gross operating margin | 9900 | €36,186 | €35,541 | -€646 | -1.8% |
| Operating profit (loss) | 9901 | €16,153 | -€709 | -€16,862 | |
| Financial income | 75/76B | €1 | €1 | -€0 | -2.0% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -2.0% |
| Financial charges | 65/66B | €797 | €979 | +€182 | +22.9% |
| Recurring financial charges | 65 | €797 | €979 | +€182 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €15,357 | -€1,688 | -€17,045 | |
| Income taxes | 67/77 | €3,836 | -€31 | -€3,867 | |
| Profit (loss) for the period | 9904 | €11,521 | -€1,657 | -€13,178 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,521 | -€1,657 | -€13,178 |
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 14 October 2026 via checked.be.