ECODEL: 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.
ECODEL
Largest movements
- Tangible fixed assets +€653,576
up €653,576 (+16.7%), from €3.9m to €4.6m
- Other debts +€770,000
up €770,000 (+39.1%), from €2.0m to €2.7m
- Profit (loss) carried forward -€120,661
down €120,661 (-41.5%), from -€290,965 to -€411,626
- Other operating charges -€45,853
down €45,853 (-90.9%), from €50,455 to €4,602
- Gross operating margin +€44,386
up €44,386 (+77.8%), from -€57,035 to -€12,649
- Depreciation +€34,715
up €34,715 (+50.5%), from €68,691 to €103,406
- Financial charges -€4,234
down €4,234 (-92.2%), from €4,594 to €360
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.
Cash bridge derived
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 | €3,920,608 | €4,564,850 | +€644,242 | +16.4% |
| Fixed assets | 21/28 | €3,908,196 | €4,561,772 | +€653,576 | +16.7% |
| Tangible fixed assets | 22/27 | €3,908,037 | €4,561,613 | +€653,576 | +16.7% |
| Land and buildings | 22 | €3,891,142 | €4,199,592 | +€308,450 | +7.9% |
| Plant, machinery and equipment | 23 | €16,895 | €117,838 | +€100,943 | +597.5% |
| Furniture and vehicles | 24 | - | €244,183 | +€244,183 | |
| Financial fixed assets | 28 | €159 | €159 | = | 0.0% |
| Current assets | 29/58 | €12,412 | €3,078 | -€9,334 | -75.2% |
| Amounts receivable within one year | 40/41 | €247 | €421 | +€174 | +70.4% |
| Other amounts receivable | 41 | €247 | €421 | +€174 | +70.4% |
| Cash at bank and in hand | 54/58 | €12,165 | €273 | -€11,892 | -97.8% |
| Deferred charges and accrued income | 490/1 | - | €2,384 | +€2,384 | |
| Total equity and liabilities | 10/49 | €3,920,608 | €4,564,850 | +€644,242 | +16.4% |
| Equity | 10/15 | €1,885,094 | €1,764,433 | -€120,661 | -6.4% |
| Contributions | 10/11 | €1,390,151 | €1,390,151 | = | 0.0% |
| Reserves | 13 | €785,908 | €785,908 | = | 0.0% |
| Non-distributable reserves | 130/1 | €41,159 | €41,159 | = | 0.0% |
| Other | 1319 | €41,159 | €41,159 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,231 | €6,231 | = | 0.0% |
| Distributable reserves | 133 | €738,518 | €738,518 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€290,965 | -€411,626 | -€120,661 | -41.5% |
| Amounts payable | 17/49 | €2,035,514 | €2,800,417 | +€764,903 | +37.6% |
| Amounts payable within one year | 42/48 | €1,976,369 | €2,741,274 | +€764,905 | +38.7% |
| Trade debts | 44 | €5,096 | €174 | -€4,922 | -96.6% |
| Suppliers | 440/4 | €2,500 | €174 | -€2,326 | -93.0% |
| Bills of exchange payable | 441 | €2,596 | - | -€2,596 | |
| Taxes, remuneration and social security | 45 | €173 | - | -€173 | |
| Taxes | 450/3 | €173 | - | -€173 | |
| Other amounts payable | 47/48 | €1,971,100 | €2,741,100 | +€770,000 | +39.1% |
| Accrued charges and deferred income | 492/3 | €59,145 | €59,143 | -€2 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,691 | €103,406 | +€34,715 | +50.5% |
| Other operating charges | 640/8 | €50,455 | €4,602 | -€45,853 | -90.9% |
| Gross operating margin | 9900 | -€57,035 | -€12,649 | +€44,386 | +77.8% |
| Operating profit (loss) | 9901 | -€176,181 | -€120,657 | +€55,524 | +31.5% |
| Financial income | 75/76B | - | €356 | +€356 | |
| Recurring financial income | 75 | - | €356 | +€356 | |
| Financial charges | 65/66B | €4,594 | €360 | -€4,234 | -92.2% |
| Recurring financial charges | 65 | €4,594 | €360 | -€4,234 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | -€180,775 | -€120,661 | +€60,114 | +33.3% |
| Profit (loss) for the period | 9904 | -€180,775 | -€120,661 | +€60,114 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€180,775 | -€120,661 | +€60,114 | +33.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.