ECOFER: 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.
ECOFER
Largest movements
- Cash +€217,085
up €217,085 (+40.3%), from €538,750 to €755,834
mainly Short-term financial debts (+€250,000) and Net result for the year (+€224,595)
- Stocks and contracts -€123,698
down €123,698 (-65.9%), from €187,786 to €64,088
- Receivables within one year +€85,876
up €85,876 (+24.5%), from €350,361 to €436,238
of which Trade receivables: +€85,847
- Tangible fixed assets -€58,577
down €58,577 (-9.4%), from €620,644 to €562,067
of which Furniture and vehicles: -€58,997
- Short-term financial debts +€250,000
new in 2025: €250,000
- Profit (loss) carried forward -€125,405
down €125,405 (-18.8%), from €666,278 to €540,873
- Debts after one year -€73,043
down €73,043 (-31.0%), from €235,619 to €162,577
- Trade debts +€67,614
up €67,614 (+30.6%), from €220,663 to €288,277
- Gross operating margin -€104,746
down €104,746 (-12.0%), from €875,643 to €770,897
- Staff costs -€55,360
down €55,360 (-14.3%), from €386,961 to €331,601
- Taxes -€22,295
down €22,295 (-22.5%), from €98,881 to €76,586
- Depreciation +€19,246
up €19,246 (+18.9%), from €102,040 to €121,286
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 | €1,718,524 | €1,836,522 | +€117,997 | +6.9% |
| Fixed assets | 21/28 | €624,744 | €566,167 | -€58,577 | -9.4% |
| Tangible fixed assets | 22/27 | €620,644 | €562,067 | -€58,577 | -9.4% |
| Land and buildings | 22 | €294,219 | €307,340 | +€13,121 | +4.5% |
| Plant, machinery and equipment | 23 | - | €3,613 | +€3,613 | |
| Furniture and vehicles | 24 | €298,045 | €239,048 | -€58,997 | -19.8% |
| Leasing and similar rights | 25 | €28,380 | €12,066 | -€16,315 | -57.5% |
| Financial fixed assets | 28 | €4,100 | €4,100 | = | 0.0% |
| Current assets | 29/58 | €1,093,780 | €1,270,354 | +€176,574 | +16.1% |
| Stocks and contracts in progress | 3 | €187,786 | €64,088 | -€123,698 | -65.9% |
| Stocks | 30/36 | €187,786 | €64,088 | -€123,698 | -65.9% |
| Amounts receivable within one year | 40/41 | €350,361 | €436,238 | +€85,876 | +24.5% |
| Trade receivables | 40 | €328,976 | €414,823 | +€85,847 | +26.1% |
| Other amounts receivable | 41 | €21,385 | €21,414 | +€29 | +0.1% |
| Cash at bank and in hand | 54/58 | €538,750 | €755,834 | +€217,085 | +40.3% |
| Deferred charges and accrued income | 490/1 | €16,883 | €14,194 | -€2,688 | -15.9% |
| Total equity and liabilities | 10/49 | €1,718,524 | €1,836,522 | +€117,997 | +6.9% |
| Equity | 10/15 | €776,278 | €650,873 | -€125,405 | -16.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €666,278 | €540,873 | -€125,405 | -18.8% |
| Amounts payable | 17/49 | €942,246 | €1,185,648 | +€243,402 | +25.8% |
| Amounts payable after more than one year | 17 | €235,619 | €162,577 | -€73,043 | -31.0% |
| Financial debts | 170/4 | €235,619 | €162,577 | -€73,043 | -31.0% |
| Amounts payable within one year | 42/48 | €705,784 | €1,019,756 | +€313,972 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €80,599 | €73,043 | -€7,557 | -9.4% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €220,663 | €288,277 | +€67,614 | +30.6% |
| Suppliers | 440/4 | €220,663 | €288,277 | +€67,614 | +30.6% |
| Taxes, remuneration and social security | 45 | €54,521 | €58,436 | +€3,915 | +7.2% |
| Taxes | 450/3 | €18,881 | €28,686 | +€9,805 | +51.9% |
| Remuneration and social security | 454/9 | €35,640 | €29,750 | -€5,890 | -16.5% |
| Other amounts payable | 47/48 | €350,000 | €350,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €844 | €3,316 | +€2,472 | +293.1% |
| Non-recurring operating income | 76A | €34,919 | €4,775 | -€30,144 | -86.3% |
| Remuneration, social security and pensions | 62 | €386,961 | €331,601 | -€55,360 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,040 | €121,286 | +€19,246 | +18.9% |
| Other operating charges | 640/8 | €1,598 | €3,935 | +€2,336 | +146.2% |
| Gross operating margin | 9900 | €875,643 | €770,897 | -€104,746 | -12.0% |
| Operating profit (loss) | 9901 | €385,043 | €314,075 | -€70,968 | -18.4% |
| Financial income | 75/76B | €119 | - | -€119 | |
| Recurring financial income | 75 | €119 | - | -€119 | |
| Financial charges | 65/66B | €8,152 | €12,894 | +€4,741 | +58.2% |
| Recurring financial charges | 65 | €8,152 | €12,894 | +€4,741 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €377,010 | €301,181 | -€75,828 | -20.1% |
| Income taxes | 67/77 | €98,881 | €76,586 | -€22,295 | -22.5% |
| Profit (loss) for the period | 9904 | €278,129 | €224,595 | -€53,534 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €278,129 | €224,595 | -€53,534 | -19.2% |
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 3 October 2026 via checked.be.