ECOFORAGE: 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.
What changed
ECOFORAGE
NACE 43.130, Specialised construction activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€402,120
2024 · €389,570+€12,550
Equity
€950,649
2024 · €959,720-€9,071
Cash
€313,248
2024 · €303,911+€9,337
Balance sheet total
€3.1m
2024 · €2.9m+€123,249
Largest movements
Assets
- Tangible fixed assets +€256,203
up €256,203 (+14.8%), from €1.7m to €2.0m
of which Plant, machinery and equipment: +€368,190
- Receivables within one year -€111,692
down €111,692 (-27.0%), from €413,161 to €301,469
of which Trade receivables: -€104,085
Equity and liabilities
- Debts after one year +€153,718
up €153,718 (+18.0%), from €852,121 to €1.0m
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Current portion of long-term debt +€43,487
up €43,487 (+13.8%), from €314,773 to €358,260
Income statement
- Gross operating margin +€41,452
up €41,452 (+2.1%), from €2.0m to €2.0m
- Depreciation +€22,483
up €22,483 (+5.7%), from €393,259 to €415,742
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.
Result 2024
€389,570
Gross operating margin
+€41,452
Staff costs
-€6,281
Depreciation
-€22,483
Write-downs
-€5,592
Other operating charges
+€3,398
Financial income
-€540
Financial charges
-€7,013
Taxes
+€15,034
Deferred taxes and other
-€5,425
Result 2025
€402,120
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€995,403
Investment
-€672,080
Financing
-€313,986
Cash 2024
€303,911
From operations (derived)
+€995,403
Net result for the year
+€402,120
Depreciation
+€415,742
Stocks and contracts
+€11,171
Receivables within one year
+€111,692
Deferred charges and accrued income
+€19,563
Provisions
-€2,015
Trade debts
+€23,203
Tax, wage and social debts
+€13,407
Advances received
-€13,101
Other debts
+€20,000
Accrued charges and deferred income
-€6,379
Investment (derived)
-€672,080
Investment in fixed assets (net)
-€672,080
Financing
-€313,986
Debts after one year
+€153,718
Current portion of long-term debt
+€43,487
Short-term financial debts
-€100,000
Contributions, distributions and other
-€411,191
Cash 2025
€313,248
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,927,165 | €3,050,414 | +€123,249 | +4.2% |
| Fixed assets | 21/28 | €1,771,634 | €2,027,972 | +€256,338 | +14.5% |
| Tangible fixed assets | 22/27 | €1,733,201 | €1,989,404 | +€256,203 | +14.8% |
| Land and buildings | 22 | €607,629 | €547,468 | -€60,161 | -9.9% |
| Plant, machinery and equipment | 23 | €826,832 | €1,195,022 | +€368,190 | +44.5% |
| Furniture and vehicles | 24 | €203,119 | €192,794 | -€10,325 | -5.1% |
| Leasing and similar rights | 25 | €95,621 | €54,120 | -€41,501 | -43.4% |
| Financial fixed assets | 28 | €38,433 | €38,568 | +€135 | +0.4% |
| Current assets | 29/58 | €1,155,531 | €1,022,442 | -€133,089 | -11.5% |
| Stocks and contracts in progress | 3 | €381,215 | €370,044 | -€11,171 | -2.9% |
| Stocks | 30/36 | €381,215 | €370,044 | -€11,171 | -2.9% |
| Amounts receivable within one year | 40/41 | €413,161 | €301,469 | -€111,692 | -27.0% |
| Trade receivables | 40 | €362,612 | €258,527 | -€104,085 | -28.7% |
| Other amounts receivable | 41 | €50,549 | €42,942 | -€7,607 | -15.0% |
| Cash at bank and in hand | 54/58 | €303,911 | €313,248 | +€9,337 | +3.1% |
| Deferred charges and accrued income | 490/1 | €57,244 | €37,681 | -€19,563 | -34.2% |
| Total equity and liabilities | 10/49 | €2,927,165 | €3,050,414 | +€123,249 | +4.2% |
| Equity | 10/15 | €959,720 | €950,649 | -€9,071 | -0.9% |
| Contributions | 10/11 | €575,000 | €575,000 | = | 0.0% |
| Capital | 10 | €575,000 | €575,000 | = | 0.0% |
| Issued capital | 100 | €575,000 | €575,000 | = | 0.0% |
| Reserves | 13 | €76,515 | €68,455 | -€8,060 | -10.5% |
| Non-distributable reserves | 130/1 | €57,500 | €57,500 | = | 0.0% |
| Legal reserve | 130 | €57,500 | €57,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,015 | €10,955 | -€8,060 | -42.4% |
| Profit (loss) carried forward | 14 | €276,901 | €279,021 | +€2,120 | +0.8% |
| Investment grants | 15 | €31,304 | €28,173 | -€3,131 | -10.0% |
| Provisions and deferred taxes | 16 | €4,754 | €2,739 | -€2,015 | -42.4% |
| Deferred taxes | 168 | €4,754 | €2,739 | -€2,015 | -42.4% |
| Amounts payable | 17/49 | €1,962,691 | €2,097,026 | +€134,335 | +6.8% |
| Amounts payable after more than one year | 17 | €852,121 | €1,005,839 | +€153,718 | +18.0% |
| Financial debts | 170/4 | €852,121 | €1,005,839 | +€153,718 | +18.0% |
| Amounts payable within one year | 42/48 | €1,103,842 | €1,090,838 | -€13,004 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €314,773 | €358,260 | +€43,487 | +13.8% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €196,192 | €219,395 | +€23,203 | +11.8% |
| Suppliers | 440/4 | €196,192 | €219,395 | +€23,203 | +11.8% |
| Advances received on contracts in progress | 46 | €22,366 | €9,265 | -€13,101 | -58.6% |
| Taxes, remuneration and social security | 45 | €90,511 | €103,918 | +€13,407 | +14.8% |
| Taxes | 450/3 | €31,742 | €46,562 | +€14,820 | +46.7% |
| Remuneration and social security | 454/9 | €58,769 | €57,356 | -€1,413 | -2.4% |
| Other amounts payable | 47/48 | €380,000 | €400,000 | +€20,000 | +5.3% |
| Accrued charges and deferred income | 492/3 | €6,728 | €349 | -€6,379 | -94.8% |
| Non-recurring operating income | 76A | - | €2,010 | +€2,010 | |
| Remuneration, social security and pensions | 62 | €974,637 | €980,918 | +€6,281 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393,259 | €415,742 | +€22,483 | +5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,592 | +€5,592 | |
| Other operating charges | 640/8 | €42,648 | €39,250 | -€3,398 | -8.0% |
| Gross operating margin | 9900 | €1,956,835 | €1,998,287 | +€41,452 | +2.1% |
| Operating profit (loss) | 9901 | €546,291 | €556,785 | +€10,494 | +1.9% |
| Financial income | 75/76B | €3,691 | €3,151 | -€540 | -14.6% |
| Recurring financial income | 75 | €3,691 | €3,151 | -€540 | -14.6% |
| Financial charges | 65/66B | €38,281 | €45,294 | +€7,013 | +18.3% |
| Recurring financial charges | 65 | €38,281 | €45,294 | +€7,013 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €511,701 | €514,642 | +€2,941 | +0.6% |
| Transfer from deferred taxes | 780 | €15,500 | €10,075 | -€5,425 | -35.0% |
| Income taxes | 67/77 | €137,631 | €122,597 | -€15,034 | -10.9% |
| Profit (loss) for the period | 9904 | €389,570 | €402,120 | +€12,550 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €389,570 | €402,120 | +€12,550 | +3.2% |
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 19 October 2026 via checked.be.