ECLO: 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.
ECLO
Largest movements
- Tangible fixed assets +€416,274
up €416,274 (+17.0%), from €2.4m to €2.9m
of which Plant, machinery and equipment: +€412,657
- Receivables within one year -€81,841
down €81,841 (-12.2%), from €669,171 to €587,330
of which Other amounts receivable: -€120,963
- Stocks and contracts +€56,772
up €56,772 (+9.5%), from €598,519 to €655,291
- Debts after one year -€573,235
down €573,235 (-22.0%), from €2.6m to €2.0m
- Contributions +€413,500
up €413,500 (+15.0%), from €2.8m to €3.2m
- Profit (loss) carried forward +€231,435
up €231,435 (+11.7%), from -€2.0m to -€1.7m
- Trade debts +€157,090
up €157,090 (+39.2%), from €400,629 to €557,719
- Other debts +€129,359
new in 2025: €129,359
- Gross operating margin +€231,121
up €231,121 (+13.6%), from €1.7m to €1.9m
- Staff costs +€218,701
up €218,701 (+27.2%), from €803,514 to €1.0m
- Write-downs -€160,048
down €160,048 (-69.1%), from €231,665 to €71,617
- Depreciation +€95,512
up €95,512 (+27.0%), from €353,354 to €448,866
- Financial charges -€36,712
down €36,712 (-24.1%), from €152,429 to €115,717
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 | €4,232,237 | €4,595,678 | +€363,441 | +8.6% |
| Fixed assets | 21/28 | €2,704,942 | €3,099,169 | +€394,227 | +14.6% |
| Intangible fixed assets | 21 | €194,731 | €172,684 | -€22,047 | -11.3% |
| Tangible fixed assets | 22/27 | €2,444,976 | €2,861,250 | +€416,274 | +17.0% |
| Plant, machinery and equipment | 23 | €868,739 | €1,281,396 | +€412,657 | +47.5% |
| Furniture and vehicles | 24 | €276,605 | €407,013 | +€130,408 | +47.1% |
| Other tangible fixed assets | 26 | €1,296,585 | €1,151,341 | -€145,244 | -11.2% |
| Assets under construction and advance payments | 27 | €3,047 | €21,500 | +€18,453 | +605.6% |
| Financial fixed assets | 28 | €65,235 | €65,235 | = | 0.0% |
| Current assets | 29/58 | €1,527,295 | €1,496,509 | -€30,786 | -2.0% |
| Stocks and contracts in progress | 3 | €598,519 | €655,291 | +€56,772 | +9.5% |
| Stocks | 30/36 | €598,519 | €655,291 | +€56,772 | +9.5% |
| Amounts receivable within one year | 40/41 | €669,171 | €587,330 | -€81,841 | -12.2% |
| Trade receivables | 40 | €486,600 | €525,722 | +€39,122 | +8.0% |
| Other amounts receivable | 41 | €182,571 | €61,608 | -€120,963 | -66.3% |
| Cash at bank and in hand | 54/58 | €158,221 | €176,445 | +€18,224 | +11.5% |
| Deferred charges and accrued income | 490/1 | €101,384 | €77,443 | -€23,941 | -23.6% |
| Total equity and liabilities | 10/49 | €4,232,237 | €4,595,678 | +€363,441 | +8.6% |
| Equity | 10/15 | €771,383 | €1,416,318 | +€644,935 | +83.6% |
| Contributions | 10/11 | €2,752,033 | €3,165,533 | +€413,500 | +15.0% |
| Profit (loss) carried forward | 14 | -€1,980,650 | -€1,749,215 | +€231,435 | +11.7% |
| Amounts payable | 17/49 | €3,460,854 | €3,179,360 | -€281,494 | -8.1% |
| Amounts payable after more than one year | 17 | €2,610,806 | €2,037,571 | -€573,235 | -22.0% |
| Financial debts | 170/4 | €2,610,806 | €2,037,571 | -€573,235 | -22.0% |
| Amounts payable within one year | 42/48 | €802,468 | €1,135,172 | +€332,704 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €259,847 | €349,685 | +€89,838 | +34.6% |
| Trade debts | 44 | €400,629 | €557,719 | +€157,090 | +39.2% |
| Suppliers | 440/4 | €400,629 | €557,719 | +€157,090 | +39.2% |
| Advances received on contracts in progress | 46 | €33,046 | €606 | -€32,440 | -98.2% |
| Taxes, remuneration and social security | 45 | €108,946 | €97,803 | -€11,143 | -10.2% |
| Taxes | 450/3 | €367 | €5,477 | +€5,110 | +1392.4% |
| Remuneration and social security | 454/9 | €108,579 | €92,326 | -€16,253 | -15.0% |
| Other amounts payable | 47/48 | - | €129,359 | +€129,359 | |
| Accrued charges and deferred income | 492/3 | €47,580 | €6,617 | -€40,963 | -86.1% |
| Remuneration, social security and pensions | 62 | €803,514 | €1,022,215 | +€218,701 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353,354 | €448,866 | +€95,512 | +27.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €231,665 | €71,617 | -€160,048 | -69.1% |
| Other operating charges | 640/8 | €68,439 | €45,825 | -€22,614 | -33.0% |
| Gross operating margin | 9900 | €1,704,964 | €1,936,085 | +€231,121 | +13.6% |
| Operating profit (loss) | 9901 | €247,992 | €347,562 | +€99,570 | +40.2% |
| Financial income | 75/76B | €366 | - | -€366 | |
| Recurring financial income | 75 | €366 | - | -€366 | |
| Financial charges | 65/66B | €152,429 | €115,717 | -€36,712 | -24.1% |
| Recurring financial charges | 65 | €152,429 | €115,717 | -€36,712 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €95,929 | €231,845 | +€135,916 | +141.7% |
| Income taxes | 67/77 | €257 | €410 | +€153 | +59.5% |
| Profit (loss) for the period | 9904 | €95,672 | €231,435 | +€135,763 | +141.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,672 | €231,435 | +€135,763 | +141.9% |
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 6 October 2026 via checked.be.