ECM: 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.
ECM
Largest movements
- Cash -€4.7m
down €4.7m (-90.3%), from €5.2m to €508,795
- Current investments +€474,723
up €474,723 (+11.3%), from €4.2m to €4.7m
- Profit (loss) carried forward -€4.3m
down €4.3m (-1172.7%), from -€365,035 to -€4.6m
- Accrued charges and deferred income +€222,125
up €222,125 (+307.1%), from €72,323 to €294,447
- Other debts -€200,000
down €200,000 (-2.8%), from €7.2m to €7.0m
- Financial income -€11.9m
down €11.9m (-99.2%), from €12.0m to €94,091
- Financial charges -€8.2m
down €8.2m (-65.8%), from €12.5m to €4.3m
- Gross operating margin -€204,037
down €204,037, from €149,761 to -€54,276
- Other operating charges -€16,281
down €16,281 (-51.2%), from €31,807 to €15,526
- Depreciation +€12,685
up €12,685 (+166.5%), from €7,617 to €20,303
From the 2022 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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,647,243 | €9,398,355 | -€4.2m | -31.1% |
| Fixed assets | 21/28 | €4,113,973 | €4,117,044 | +€3,070 | +0.1% |
| Tangible fixed assets | 22/27 | €242,973 | €246,044 | +€3,070 | +1.3% |
| Land and buildings | 22 | €240,404 | €229,287 | -€11,117 | -4.6% |
| Plant, machinery and equipment | 23 | €2,569 | €897 | -€1,672 | -65.1% |
| Furniture and vehicles | 24 | - | €15,859 | +€15,859 | |
| Financial fixed assets | 28 | €3,871,000 | €3,871,000 | = | 0.0% |
| Current assets | 29/58 | €9,533,270 | €5,281,311 | -€4.3m | -44.6% |
| Amounts receivable within one year | 40/41 | €95,675 | €94,696 | -€979 | -1.0% |
| Trade receivables | 40 | €27,023 | €33,396 | +€6,372 | +23.6% |
| Other amounts receivable | 41 | €68,652 | €61,301 | -€7,351 | -10.7% |
| Current investments | 50/53 | €4,188,417 | €4,663,140 | +€474,723 | +11.3% |
| Cash at bank and in hand | 54/58 | €5,235,123 | €508,795 | -€4.7m | -90.3% |
| Deferred charges and accrued income | 490/1 | €14,055 | €14,680 | +€625 | +4.4% |
| Total equity and liabilities | 10/49 | €13,647,243 | €9,398,355 | -€4.2m | -31.1% |
| Equity | 10/15 | €6,330,158 | €2,049,525 | -€4.3m | -67.6% |
| Contributions | 10/11 | €3,970,000 | €3,970,000 | = | 0.0% |
| Reserves | 13 | €2,725,193 | €2,725,193 | = | 0.0% |
| Non-distributable reserves | 130/1 | €112,366 | €112,366 | = | 0.0% |
| Reserves not available under the articles | 1311 | €112,366 | €112,366 | = | 0.0% |
| Tax-exempt reserves | 132 | €336,800 | €336,800 | = | 0.0% |
| Distributable reserves | 133 | €2,276,027 | €2,276,027 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€365,035 | -€4,645,667 | -€4.3m | -1172.7% |
| Amounts payable | 17/49 | €7,317,086 | €7,348,830 | +€31,744 | +0.4% |
| Amounts payable after more than one year | 17 | €45,911 | €26,942 | -€18,968 | -41.3% |
| Financial debts | 170/4 | €45,911 | €26,942 | -€18,968 | -41.3% |
| Amounts payable within one year | 42/48 | €7,198,852 | €7,027,440 | -€171,412 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €10,347 | €10,241 | -€106 | -1.0% |
| Trade debts | 44 | €34,156 | €66,807 | +€32,650 | +95.6% |
| Suppliers | 440/4 | €34,156 | €66,807 | +€32,650 | +95.6% |
| Taxes, remuneration and social security | 45 | €4,349 | €393 | -€3,956 | -91.0% |
| Taxes | 450/3 | €4,349 | €393 | -€3,956 | -91.0% |
| Other amounts payable | 47/48 | €7,150,000 | €6,950,000 | -€200,000 | -2.8% |
| Accrued charges and deferred income | 492/3 | €72,323 | €294,447 | +€222,125 | +307.1% |
| Non-recurring operating income | 76A | €184,263 | €0 | -€184,263 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,617 | €20,303 | +€12,685 | +166.5% |
| Other operating charges | 640/8 | €31,807 | €15,526 | -€16,281 | -51.2% |
| Gross operating margin | 9900 | €149,761 | -€54,276 | -€204,037 | |
| Operating profit (loss) | 9901 | €110,337 | -€90,104 | -€200,441 | |
| Financial income | 75/76B | €12,019,726 | €94,091 | -€11.9m | -99.2% |
| Recurring financial income | 75 | €12,019,726 | €94,091 | -€11.9m | -99.2% |
| Financial charges | 65/66B | €12,494,793 | €4,274,017 | -€8.2m | -65.8% |
| Recurring financial charges | 65 | €12,494,793 | €4,274,017 | -€8.2m | -65.8% |
| Profit (loss) for the period before taxes | 9903 | -€364,730 | -€4,270,031 | -€3.9m | -1070.7% |
| Income taxes | 67/77 | €305 | €10,602 | +€10,297 | +3375.1% |
| Profit (loss) for the period | 9904 | -€365,035 | -€4,280,632 | -€3.9m | -1072.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€365,035 | -€4,280,632 | -€3.9m | -1072.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2022 and 31 May 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.