ECO-PROJECTS: 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-PROJECTS
Largest movements
- Tangible fixed assets +€121,357
up €121,357 (+37.1%), from €326,901 to €448,258
of which Land and buildings: +€130,617
- Receivables within one year +€84,563
up €84,563 (+17.8%), from €474,275 to €558,838
of which Other amounts receivable: +€88,461
- Current investments -€60,428
down €60,428 (-55.0%), from €109,781 to €49,354
- Cash -€20,993
down €20,993 (-16.2%), from €129,799 to €108,806
mainly Advances received (-€290,072) and Trade debts (-€243,205)
- Other debts +€471,166
up €471,166 (+532%), from €88,644 to €559,809
- Advances received -€290,072
down €290,072 (-89.2%), from €325,081 to €35,010
- Trade debts -€243,205
down €243,205 (-74.4%), from €326,954 to €83,749
- Debts after one year +€95,029
up €95,029 (+48.3%), from €196,926 to €291,955
- Reserves +€64,680
up €64,680 (+78.5%), from €82,441 to €147,121
- Gross operating margin +€91,321
up €91,321 (+26.6%), from €343,631 to €434,952
- Staff costs +€48,405
up €48,405 (+18.9%), from €255,464 to €303,869
- Depreciation +€17,679
up €17,679 (+138%), from €12,837 to €30,516
- Taxes +€8,703
up €8,703 (+63.5%), from €13,715 to €22,418
- Financial charges +€8,460
up €8,460 (+152%), from €5,566 to €14,025
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 | €1,055,226 | €1,182,223 | +€126,997 | +12.0% |
| Fixed assets | 21/28 | €329,121 | €452,728 | +€123,607 | +37.6% |
| Tangible fixed assets | 22/27 | €326,901 | €448,258 | +€121,357 | +37.1% |
| Land and buildings | 22 | €260,715 | €391,332 | +€130,617 | +50.1% |
| Plant, machinery and equipment | 23 | €6,156 | €12,317 | +€6,161 | +100% |
| Furniture and vehicles | 24 | €60,030 | €44,609 | -€15,421 | -25.7% |
| Financial fixed assets | 28 | €2,220 | €4,470 | +€2,250 | +101% |
| Current assets | 29/58 | €726,105 | €729,495 | +€3,390 | +0.5% |
| Amounts receivable within one year | 40/41 | €474,275 | €558,838 | +€84,563 | +17.8% |
| Trade receivables | 40 | €370,654 | €366,756 | -€3,898 | -1.1% |
| Other amounts receivable | 41 | €103,622 | €192,082 | +€88,461 | +85.4% |
| Current investments | 50/53 | €109,781 | €49,354 | -€60,428 | -55.0% |
| Cash at bank and in hand | 54/58 | €129,799 | €108,806 | -€20,993 | -16.2% |
| Deferred charges and accrued income | 490/1 | €12,249 | €12,497 | +€248 | +2.0% |
| Total equity and liabilities | 10/49 | €1,055,226 | €1,182,223 | +€126,997 | +12.0% |
| Equity | 10/15 | €92,441 | €157,121 | +€64,680 | +70.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €82,441 | €147,121 | +€64,680 | +78.5% |
| Distributable reserves | 133 | €82,441 | €147,121 | +€64,680 | +78.5% |
| Amounts payable | 17/49 | €962,785 | €1,025,102 | +€62,317 | +6.5% |
| Amounts payable after more than one year | 17 | €196,926 | €291,955 | +€95,029 | +48.3% |
| Financial debts | 170/4 | €196,926 | €291,955 | +€95,029 | +48.3% |
| Amounts payable within one year | 42/48 | €765,859 | €733,147 | -€32,712 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €5,667 | €16,546 | +€10,879 | +192% |
| Trade debts | 44 | €326,954 | €83,749 | -€243,205 | -74.4% |
| Suppliers | 440/4 | €326,954 | €83,749 | -€243,205 | -74.4% |
| Advances received on contracts in progress | 46 | €325,081 | €35,010 | -€290,072 | -89.2% |
| Taxes, remuneration and social security | 45 | €19,513 | €38,034 | +€18,520 | +94.9% |
| Taxes | 450/3 | €19,513 | €38,034 | +€18,520 | +94.9% |
| Other amounts payable | 47/48 | €88,644 | €559,809 | +€471,166 | +532% |
| Non-recurring operating income | 76A | €372 | €76,102 | +€75,731 | +20,363% |
| Remuneration, social security and pensions | 62 | €255,464 | €303,869 | +€48,405 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,837 | €30,516 | +€17,679 | +138% |
| Other operating charges | 640/8 | €5,627 | €6,286 | +€659 | +11.7% |
| Gross operating margin | 9900 | €343,631 | €434,952 | +€91,321 | +26.6% |
| Operating profit (loss) | 9901 | €69,704 | €94,282 | +€24,578 | +35.3% |
| Financial income | 75/76B | €3,092 | €6,842 | +€3,750 | +121% |
| Recurring financial income | 75 | €3,092 | €6,842 | +€3,750 | +121% |
| Financial charges | 65/66B | €5,566 | €14,025 | +€8,460 | +152% |
| Recurring financial charges | 65 | €5,566 | €14,025 | +€8,460 | +152% |
| Profit (loss) for the period before taxes | 9903 | €67,230 | €87,098 | +€19,868 | +29.6% |
| Income taxes | 67/77 | €13,715 | €22,418 | +€8,703 | +63.5% |
| Profit (loss) for the period | 9904 | €53,515 | €64,680 | +€11,165 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,515 | €64,680 | +€11,165 | +20.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.