ECHO: 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.
ECHO
Largest movements
- Tangible fixed assets +€202,178
up €202,178 (+77.7%), from €260,360 to €462,537
of which Land and buildings: +€217,790
- Cash -€49,994
down €49,994 (-65.3%), from €76,525 to €26,531
mainly Investment in fixed assets (net) (-€266,257) and Trade debts (-€26,406)
- Receivables within one year +€17,296
up €17,296 (+78.0%), from €22,167 to €39,463
of which Trade receivables: +€21,520
- Debts after one year +€178,724
up €178,724 (+98.1%), from €182,269 to €360,993
- Trade debts -€26,406
down €26,406 (-50.8%), from €51,931 to €25,525
- Tax, wage and social debts -€14,576
down €14,576 (-47.1%), from €30,968 to €16,392
- Current portion of long-term debt +€14,514
up €14,514 (+79.8%), from €18,192 to €32,707
- Other debts +€9,919
up €9,919 (+17.8%), from €55,834 to €65,753
- Depreciation +€45,852
up €45,852 (+251.5%), from €18,228 to €64,079
- Gross operating margin +€13,601
up €13,601 (+17.2%), from €78,918 to €92,519
- Financial charges +€11,091
up €11,091 (+172.4%), from €6,434 to €17,525
- Taxes -€8,132
down €8,132 (-75.0%), from €10,837 to €2,705
- Other operating charges -€3,388
down €3,388 (-50.5%), from €6,711 to €3,323
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €359,052 | €528,531 | +€169,480 | +47.2% |
| Fixed assets | 21/28 | €260,360 | €462,537 | +€202,178 | +77.7% |
| Tangible fixed assets | 22/27 | €260,360 | €462,537 | +€202,178 | +77.7% |
| Land and buildings | 22 | €208,453 | €426,243 | +€217,790 | +104.5% |
| Plant, machinery and equipment | 23 | €1,406 | €703 | -€703 | -50.0% |
| Furniture and vehicles | 24 | €50,501 | €35,591 | -€14,910 | -29.5% |
| Current assets | 29/58 | €98,692 | €65,994 | -€32,698 | -33.1% |
| Amounts receivable within one year | 40/41 | €22,167 | €39,463 | +€17,296 | +78.0% |
| Trade receivables | 40 | €15,734 | €37,254 | +€21,520 | +136.8% |
| Other amounts receivable | 41 | €6,433 | €2,209 | -€4,224 | -65.7% |
| Cash at bank and in hand | 54/58 | €76,525 | €26,531 | -€49,994 | -65.3% |
| Total equity and liabilities | 10/49 | €359,052 | €528,531 | +€169,480 | +47.2% |
| Equity | 10/15 | €19,857 | €24,742 | +€4,885 | +24.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €18,784 | €23,669 | +€4,885 | +26.0% |
| Non-distributable reserves | 130/1 | €124 | €124 | = | 0.0% |
| Reserves not available under the articles | 1311 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €18,660 | €23,545 | +€4,885 | +26.2% |
| Profit (loss) carried forward | 14 | €73 | €73 | = | 0.0% |
| Amounts payable | 17/49 | €339,194 | €503,789 | +€164,594 | +48.5% |
| Amounts payable after more than one year | 17 | €182,269 | €360,993 | +€178,724 | +98.1% |
| Financial debts | 170/4 | €182,269 | €360,993 | +€178,724 | +98.1% |
| Amounts payable within one year | 42/48 | €156,925 | €140,376 | -€16,549 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €18,192 | €32,707 | +€14,514 | +79.8% |
| Trade debts | 44 | €51,931 | €25,525 | -€26,406 | -50.8% |
| Suppliers | 440/4 | €51,931 | €25,525 | -€26,406 | -50.8% |
| Taxes, remuneration and social security | 45 | €30,968 | €16,392 | -€14,576 | -47.1% |
| Taxes | 450/3 | €30,968 | €16,392 | -€14,576 | -47.1% |
| Other amounts payable | 47/48 | €55,834 | €65,753 | +€9,919 | +17.8% |
| Accrued charges and deferred income | 492/3 | - | €2,419 | +€2,419 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,228 | €64,079 | +€45,852 | +251.5% |
| Other operating charges | 640/8 | €6,711 | €3,323 | -€3,388 | -50.5% |
| Gross operating margin | 9900 | €78,918 | €92,519 | +€13,601 | +17.2% |
| Operating profit (loss) | 9901 | €53,979 | €25,116 | -€28,863 | -53.5% |
| Financial income | 75/76B | €175 | - | -€175 | |
| Recurring financial income | 75 | €175 | - | -€175 | |
| Financial charges | 65/66B | €6,434 | €17,525 | +€11,091 | +172.4% |
| Recurring financial charges | 65 | €6,434 | €17,525 | +€11,091 | +172.4% |
| Profit (loss) for the period before taxes | 9903 | €47,720 | €7,591 | -€40,129 | -84.1% |
| Income taxes | 67/77 | €10,837 | €2,705 | -€8,132 | -75.0% |
| Profit (loss) for the period | 9904 | €36,883 | €4,885 | -€31,997 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,883 | €4,885 | -€31,997 | -86.8% |
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 3 October 2026 via checked.be.