ECO CV: 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 CV
Largest movements
- Cash -€26,940
down €26,940 (-55.1%), from €48,876 to €21,936
mainly Investment in fixed assets (net) (-€38,638) and Receivables within one year (-€16,772)
- Receivables within one year +€16,772
up €16,772 (+44.0%), from €38,079 to €54,851
of which Trade receivables: +€15,178
- Tangible fixed assets +€11,732
up €11,732 (+3.5%), from €336,089 to €347,822
of which Furniture and vehicles: +€32,251
- Deferred charges and accrued income +€5,450
up €5,450 (+242%), from €2,250 to €7,700
- Reserves +€25,658
up €25,658 (+9.0%), from €286,161 to €311,819
of which Distributable reserves: +€25,658
- Debts after one year -€16,022
down €16,022 (-59.7%), from €26,860 to €10,838
- Other operating charges -€4,300
down €4,300 (-43.4%), from €9,908 to €5,608
- Depreciation +€2,434
up €2,434 (+9.9%), from €24,471 to €26,905
- Gross operating margin -€1,483
down €1,483 (-2.2%), from €67,673 to €66,190
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 | €446,303 | €454,298 | +€7,994 | +1.8% |
| Fixed assets | 21/28 | €336,089 | €347,822 | +€11,732 | +3.5% |
| Tangible fixed assets | 22/27 | €336,089 | €347,822 | +€11,732 | +3.5% |
| Land and buildings | 22 | €330,843 | €309,931 | -€20,911 | -6.3% |
| Plant, machinery and equipment | 23 | €4,479 | €4,871 | +€392 | +8.8% |
| Furniture and vehicles | 24 | €768 | €33,019 | +€32,251 | +4,201% |
| Current assets | 29/58 | €110,214 | €106,476 | -€3,738 | -3.4% |
| Stocks and contracts in progress | 3 | €21,010 | €21,990 | +€980 | +4.7% |
| Stocks | 30/36 | €21,010 | €21,990 | +€980 | +4.7% |
| Amounts receivable within one year | 40/41 | €38,079 | €54,851 | +€16,772 | +44.0% |
| Trade receivables | 40 | €28,008 | €43,186 | +€15,178 | +54.2% |
| Other amounts receivable | 41 | €10,071 | €11,666 | +€1,594 | +15.8% |
| Cash at bank and in hand | 54/58 | €48,876 | €21,936 | -€26,940 | -55.1% |
| Deferred charges and accrued income | 490/1 | €2,250 | €7,700 | +€5,450 | +242% |
| Total equity and liabilities | 10/49 | €446,303 | €454,298 | +€7,994 | +1.8% |
| Equity | 10/15 | €305,292 | €330,950 | +€25,658 | +8.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €286,161 | €311,819 | +€25,658 | +9.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €286,161 | €311,819 | +€25,658 | +9.0% |
| Profit (loss) carried forward | 14 | €6,731 | €6,731 | = | 0.0% |
| Amounts payable | 17/49 | €141,012 | €123,348 | -€17,664 | -12.5% |
| Amounts payable after more than one year | 17 | €26,860 | €10,838 | -€16,022 | -59.7% |
| Financial debts | 170/4 | €26,860 | €10,838 | -€16,022 | -59.7% |
| Amounts payable within one year | 42/48 | €114,152 | €112,510 | -€1,642 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €15,744 | €16,022 | +€278 | +1.8% |
| Financial debts | 43 | €0 | €99 | +€99 | |
| Credit institutions | 430/8 | €0 | €99 | +€99 | |
| Trade debts | 44 | €20,331 | €18,337 | -€1,995 | -9.8% |
| Suppliers | 440/4 | €20,331 | €18,337 | -€1,995 | -9.8% |
| Taxes, remuneration and social security | 45 | €2,598 | €2,465 | -€133 | -5.1% |
| Remuneration and social security | 454/9 | €2,598 | €2,465 | -€133 | -5.1% |
| Other amounts payable | 47/48 | €75,479 | €75,587 | +€109 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,471 | €26,905 | +€2,434 | +9.9% |
| Other operating charges | 640/8 | €9,908 | €5,608 | -€4,300 | -43.4% |
| Gross operating margin | 9900 | €67,673 | €66,190 | -€1,483 | -2.2% |
| Operating profit (loss) | 9901 | €33,295 | €33,678 | +€383 | +1.2% |
| Financial income | 75/76B | €2,771 | €3,318 | +€548 | +19.8% |
| Recurring financial income | 75 | €2,771 | €3,318 | +€548 | +19.8% |
| Financial charges | 65/66B | €1,502 | €1,442 | -€60 | -4.0% |
| Recurring financial charges | 65 | €1,502 | €1,442 | -€60 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €34,563 | €35,554 | +€991 | +2.9% |
| Income taxes | 67/77 | €9,638 | €9,896 | +€257 | +2.7% |
| Profit (loss) for the period | 9904 | €24,925 | €25,658 | +€733 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,925 | €25,658 | +€733 | +2.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.