ECJ: 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.
ECJ
Largest movements
- Receivables within one year -€18,276
down €18,276 (-61.4%), from €29,745 to €11,469
of which Trade receivables: -€20,211
- Cash +€9,124
up €9,124 (+61.6%), from €14,820 to €23,944
mainly Receivables within one year (+€18,276) and Depreciation (+€6,754)
- Tangible fixed assets -€4,526
down €4,526 (-25.0%), from €18,112 to €13,586
of which Furniture and vehicles: -€5,064
- Deferred charges and accrued income -€1,656
no longer reported in 2025 (was €1,656)
- Profit (loss) carried forward -€14,283
down €14,283, from €708 to -€13,575
- Tax, wage and social debts -€9,084
down €9,084 (-48.5%), from €18,737 to €9,653
- Trade debts +€4,417
up €4,417 (+55.1%), from €8,020 to €12,437
- Advances received +€2,000
new in 2025: €2,000
- Other debts +€961
new in 2025: €961
- Gross operating margin -€33,894
down €33,894, from €32,568 to -€1,326
- Taxes -€9,030
down €9,030 (-96.7%), from €9,342 to €311
- Depreciation +€2,552
up €2,552 (+60.7%), from €4,203 to €6,754
- Financial charges +€1,505
up €1,505 (+160%), from €941 to €2,446
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 | €67,965 | €51,981 | -€15,984 | -23.5% |
| Formation expenses | 20 | €778 | €538 | -€240 | -30.9% |
| Fixed assets | 21/28 | €18,112 | €13,586 | -€4,526 | -25.0% |
| Tangible fixed assets | 22/27 | €18,112 | €13,586 | -€4,526 | -25.0% |
| Plant, machinery and equipment | 23 | €4,627 | €5,165 | +€538 | +11.6% |
| Furniture and vehicles | 24 | €13,485 | €8,421 | -€5,064 | -37.6% |
| Current assets | 29/58 | €49,075 | €37,857 | -€11,218 | -22.9% |
| Stocks and contracts in progress | 3 | €2,854 | €2,444 | -€410 | -14.4% |
| Stocks | 30/36 | €2,854 | €2,444 | -€410 | -14.4% |
| Amounts receivable within one year | 40/41 | €29,745 | €11,469 | -€18,276 | -61.4% |
| Trade receivables | 40 | €26,651 | €6,440 | -€20,211 | -75.8% |
| Other amounts receivable | 41 | €3,093 | €5,029 | +€1,935 | +62.6% |
| Cash at bank and in hand | 54/58 | €14,820 | €23,944 | +€9,124 | +61.6% |
| Deferred charges and accrued income | 490/1 | €1,656 | - | -€1,656 | |
| Total equity and liabilities | 10/49 | €67,965 | €51,981 | -€15,984 | -23.5% |
| Equity | 10/15 | €41,208 | €26,925 | -€14,283 | -34.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €34,500 | €34,500 | = | 0.0% |
| Distributable reserves | 133 | €34,500 | €34,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €708 | -€13,575 | -€14,283 | |
| Amounts payable | 17/49 | €26,757 | €25,056 | -€1,702 | -6.4% |
| Amounts payable within one year | 42/48 | €26,757 | €25,051 | -€1,706 | -6.4% |
| Trade debts | 44 | €8,020 | €12,437 | +€4,417 | +55.1% |
| Suppliers | 440/4 | €8,020 | €12,437 | +€4,417 | +55.1% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €18,737 | €9,653 | -€9,084 | -48.5% |
| Taxes | 450/3 | €18,737 | €9,653 | -€9,084 | -48.5% |
| Other amounts payable | 47/48 | - | €961 | +€961 | |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,203 | €6,754 | +€2,552 | +60.7% |
| Other operating charges | 640/8 | €308 | €398 | +€89 | +28.9% |
| Non-recurring operating charges | 66A | €843 | €3,090 | +€2,247 | +266% |
| Gross operating margin | 9900 | €32,568 | -€1,326 | -€33,894 | |
| Operating profit (loss) | 9901 | €27,213 | -€11,568 | -€38,782 | |
| Financial income | 75/76B | €45 | €42 | -€3 | -6.4% |
| Recurring financial income | 75 | €45 | €42 | -€3 | -6.4% |
| Financial charges | 65/66B | €941 | €2,446 | +€1,505 | +160% |
| Recurring financial charges | 65 | €941 | €2,446 | +€1,505 | +160% |
| Profit (loss) for the period before taxes | 9903 | €26,318 | -€13,972 | -€40,289 | |
| Income taxes | 67/77 | €9,342 | €311 | -€9,030 | -96.7% |
| Profit (loss) for the period | 9904 | €16,976 | -€14,283 | -€31,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,976 | -€14,283 | -€31,259 |
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.