ECO: 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.
ECO
Largest movements
- Current assets +€14,767
up €14,767 (+8.4%), from €176,538 to €191,305
of which Stocks and contracts: +€21,721
- Tangible fixed assets +€7,757
up €7,757 (+237.4%), from €3,268 to €11,025
- Debts within one year +€18,361
up €18,361 (+42.9%), from €42,755 to €61,116
- Equity +€4,163
up €4,163 (+3.0%), from €137,050 to €141,214
of which Profit (loss) carried forward: +€4,163
- Taxes -€23,855
down €23,855, from €12,000 to -€11,855
- Gross operating margin +€18,405
up €18,405 (+59.2%), from €31,090 to €49,494
From the 2019 result to the 2020 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,806 | €202,330 | +€22,524 | +12.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,268 | €11,025 | +€7,757 | +237.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €3,268 | €11,025 | +€7,757 | +237.4% |
| Financial fixed assets | 28 | €0 | €0 | = | |
| Current assets | 29/58 | €176,538 | €191,305 | +€14,767 | +8.4% |
| Stocks and contracts in progress | 3 | €0 | €21,721 | +€21,721 | |
| Amounts receivable within one year | 40/41 | €94,015 | €38,463 | -€55,552 | -59.1% |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €82,522 | €56,706 | -€25,817 | -31.3% |
| Total equity and liabilities | 10/49 | €179,806 | €202,330 | +€22,524 | +12.5% |
| Equity | 10/15 | €137,050 | €141,214 | +€4,163 | +3.0% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €32,578 | €32,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,873 | €90,036 | +€4,163 | +4.8% |
| Amounts payable | 17/49 | €42,755 | €61,116 | +€18,361 | +42.9% |
| Amounts payable within one year | 42/48 | €42,755 | €61,116 | +€18,361 | +42.9% |
| Trade debts | 44 | €23,983 | €48,684 | +€24,702 | +103.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,698 | €2,193 | +€495 | +29.1% |
| Gross operating margin | 9900 | €31,090 | €49,494 | +€18,405 | +59.2% |
| Operating profit (loss) | 9901 | €18,134 | -€6,245 | -€24,380 | |
| Recurring financial income | 75 | €33 | €1,136 | +€1,103 | +3322.3% |
| Recurring financial charges | 65 | €3,984 | €2,583 | -€1,402 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €14,183 | -€7,692 | -€21,875 | |
| Income taxes | 67/77 | €12,000 | -€11,855 | -€23,855 | |
| Profit (loss) for the period | 9904 | €2,183 | €4,163 | +€1,980 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,183 | €4,163 | +€1,980 | +90.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.