ECNOEL: what changed
What changed
ECNOEL
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.6m-€167,113
Equity
€18.3m
2024 · €17.2m+€1.2m
Cash
€10,478
2024 · €1,813+€8,665
Balance sheet total
€21.4m
2024 · €20.1m+€1.3m
Largest movements
Assets
- Receivables within one year +€1.3m
up €1.3m (+18.0%), from €7.0m to €8.2m
of which Other amounts receivable: +€1.2m
Equity and liabilities
- Reserves +€1.2m
up €1.2m (+8.8%), from €13.3m to €14.4m
of which Distributable reserves: +€1.2m
- Debts after one year +€500,000
up €500,000 (+25.0%), from €2.0m to €2.5m
- Current portion of long-term debt -€357,143
down €357,143 (-100%), from €357,143 to €0
Income statement
- Write-downs +€610,785
up €610,785, from -€610,785 to €0
- Other operating charges -€610,765
down €610,765 (-100.0%), from €610,902 to €137
- Financial income -€205,938
down €205,938 (-11.2%), from €1.8m to €1.6m
- Financial charges -€62,421
down €62,421 (-36.1%), from €172,972 to €110,551
of which Financial charges: -€42,421
- Gross operating margin -€37,788
down €37,788, from €18,467 to -€19,321
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.6m
Gross operating margin
-€37,788
Write-downs
-€610,785
Other operating charges
+€610,765
Financial income
-€205,938
Financial charges
+€62,421
Taxes
+€14,211
Result 2025
€1.4m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€230,521
Investment
-€139,713
Financing
-€82,143
Cash 2024
€1,813
From operations (derived)
+€230,521
Net result for the year
+€1.4m
Receivables within one year
-€1.3m
Deferred charges and accrued income
+€150,080
Trade debts
-€13,837
Tax, wage and social debts
-€16,333
Other debts
-€25,000
Accrued charges and deferred income
+€4,408
Investment (derived)
-€139,713
Investment in fixed assets (net)
+€14,000
Current investments
-€153,713
Financing
-€82,143
Debts after one year
+€500,000
Current portion of long-term debt
-€357,143
Contributions, distributions and other
-€225,000
Cash 2025
€10,478
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,139,343 | €21,391,032 | +€1.3m | +6.2% |
| Fixed assets | 21/28 | €8,545,570 | €8,531,570 | -€14,000 | -0.2% |
| Financial fixed assets | 28 | €8,545,570 | €8,531,570 | -€14,000 | -0.2% |
| Current assets | 29/58 | €11,593,773 | €12,859,463 | +€1.3m | +10.9% |
| Amounts receivable after more than one year | 29 | €2,500,000 | €2,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,500,000 | €2,500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,957,385 | €8,210,775 | +€1.3m | +18.0% |
| Trade receivables | 40 | €0 | €25,500 | +€25,500 | |
| Other amounts receivable | 41 | €6,957,385 | €8,185,275 | +€1.2m | +17.6% |
| Current investments | 50/53 | €1,157,432 | €1,311,145 | +€153,713 | +13.3% |
| Cash at bank and in hand | 54/58 | €1,813 | €10,478 | +€8,665 | +478% |
| Deferred charges and accrued income | 490/1 | €977,144 | €827,064 | -€150,080 | -15.4% |
| Total equity and liabilities | 10/49 | €20,139,343 | €21,391,032 | +€1.3m | +6.2% |
| Equity | 10/15 | €17,185,405 | €18,344,999 | +€1.2m | +6.7% |
| Contributions | 10/11 | €3,934,027 | €3,934,027 | = | 0.0% |
| Reserves | 13 | €13,251,378 | €14,410,972 | +€1.2m | +8.8% |
| Tax-exempt reserves | 132 | €23,417 | €23,417 | = | 0.0% |
| Distributable reserves | 133 | €13,227,961 | €14,387,555 | +€1.2m | +8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,953,939 | €3,046,034 | +€92,095 | +3.1% |
| Amounts payable after more than one year | 17 | €2,000,000 | €2,500,000 | +€500,000 | +25.0% |
| Financial debts | 170/4 | €2,000,000 | €2,500,000 | +€500,000 | +25.0% |
| Amounts payable within one year | 42/48 | €952,933 | €540,620 | -€412,313 | -43.3% |
| Current portion of amounts payable after more than one year | 42 | €357,143 | €0 | -€357,143 | -100% |
| Trade debts | 44 | €19,481 | €5,644 | -€13,837 | -71.0% |
| Suppliers | 440/4 | €19,481 | €5,644 | -€13,837 | -71.0% |
| Taxes, remuneration and social security | 45 | €126,309 | €109,976 | -€16,333 | -12.9% |
| Taxes | 450/3 | €126,309 | €109,976 | -€16,333 | -12.9% |
| Other amounts payable | 47/48 | €450,000 | €425,000 | -€25,000 | -5.6% |
| Accrued charges and deferred income | 492/3 | €1,006 | €5,414 | +€4,408 | +438% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€610,785 | €0 | +€610,785 | |
| Other operating charges | 640/8 | €610,902 | €137 | -€610,765 | -100.0% |
| Gross operating margin | 9900 | €18,467 | -€19,321 | -€37,788 | |
| Operating profit (loss) | 9901 | €18,350 | -€19,458 | -€37,808 | |
| Financial income | 75/76B | €1,836,500 | €1,630,562 | -€205,938 | -11.2% |
| Recurring financial income | 75 | €1,836,500 | €1,630,562 | -€205,938 | -11.2% |
| Financial charges | 65/66B | €172,972 | €110,551 | -€62,421 | -36.1% |
| Recurring financial charges | 65 | €152,972 | €110,551 | -€42,421 | -27.7% |
| Non-recurring financial charges | 66B | €20,000 | €0 | -€20,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €1,681,878 | €1,500,554 | -€181,324 | -10.8% |
| Income taxes | 67/77 | €130,171 | €115,959 | -€14,211 | -10.9% |
| Profit (loss) for the period | 9904 | €1,551,707 | €1,384,594 | -€167,113 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,551,707 | €1,384,594 | -€167,113 | -10.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.