ECOLAD: 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.
ECOLAD
Largest movements
- Tangible fixed assets +€2.7m
up €2.7m (+220.2%), from €1.2m to €4.0m
of which Land and buildings: +€2.7m
- Debts after one year +€1.9m
up €1.9m (+265.1%), from €712,904 to €2.6m
- Revaluation surpluses +€764,482
new in 2025: €764,482
- Profit (loss) carried forward -€166,841
down €166,841 (-236.9%), from -€70,412 to -€237,254
- Other debts +€156,243
up €156,243 (+182.7%), from €85,518 to €241,761
- Trade debts +€81,214
up €81,214 (+34.0%), from €238,621 to €319,835
- Depreciation +€68,482
new in 2025: €68,482
- Financial charges +€34,927
up €34,927 (+61.7%), from €56,621 to €91,548
- Gross operating margin +€6,008
up €6,008 (+51.3%), from -€11,704 to -€5,696
- Financial income -€2,953
down €2,953 (-99.0%), from €2,982 to €29
- Taxes -€262
no longer reported in 2025 (was €262)
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 | €1,314,025 | €4,077,132 | +€2.8m | +210.3% |
| Fixed assets | 21/28 | €1,264,955 | €3,999,169 | +€2.7m | +216.2% |
| Intangible fixed assets | 21 | €30,759 | €47,786 | +€17,027 | +55.4% |
| Tangible fixed assets | 22/27 | €1,234,196 | €3,951,383 | +€2.7m | +220.2% |
| Land and buildings | 22 | €1,234,196 | €3,934,904 | +€2.7m | +218.8% |
| Plant, machinery and equipment | 23 | - | €9,590 | +€9,590 | |
| Furniture and vehicles | 24 | - | €6,888 | +€6,888 | |
| Current assets | 29/58 | €49,070 | €77,963 | +€28,893 | +58.9% |
| Amounts receivable within one year | 40/41 | €35,738 | €53,927 | +€18,189 | +50.9% |
| Trade receivables | 40 | €28,521 | €3,314 | -€25,207 | -88.4% |
| Other amounts receivable | 41 | €7,217 | €50,613 | +€43,396 | +601.3% |
| Cash at bank and in hand | 54/58 | €1,716 | €21,560 | +€19,845 | +1156.6% |
| Deferred charges and accrued income | 490/1 | €11,617 | €2,476 | -€9,140 | -78.7% |
| Total equity and liabilities | 10/49 | €1,314,025 | €4,077,132 | +€2.8m | +210.3% |
| Equity | 10/15 | €244,716 | €842,357 | +€597,641 | +244.2% |
| Contributions | 10/11 | €238,669 | €238,669 | = | 0.0% |
| Capital | 10 | €126,671 | €126,671 | = | 0.0% |
| Issued capital | 100 | €126,671 | €126,671 | = | 0.0% |
| Outside capital | 11 | €111,999 | €111,999 | = | 0.0% |
| Share premium | 1100/10 | €111,999 | €111,999 | = | 0.0% |
| Revaluation surpluses | 12 | - | €764,482 | +€764,482 | |
| Reserves | 13 | €76,459 | €76,459 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,867 | €8,867 | = | 0.0% |
| Legal reserve | 130 | €8,867 | €8,867 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,678 | €2,678 | = | 0.0% |
| Distributable reserves | 133 | €64,914 | €64,914 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,412 | -€237,254 | -€166,841 | -236.9% |
| Amounts payable | 17/49 | €1,069,309 | €3,234,775 | +€2.2m | +202.5% |
| Amounts payable after more than one year | 17 | €712,904 | €2,602,643 | +€1.9m | +265.1% |
| Financial debts | 170/4 | €712,904 | €2,602,643 | +€1.9m | +265.1% |
| Amounts payable within one year | 42/48 | €356,405 | €632,133 | +€275,728 | +77.4% |
| Current portion of amounts payable after more than one year | 42 | €32,005 | €25,018 | -€6,987 | -21.8% |
| Trade debts | 44 | €238,621 | €319,835 | +€81,214 | +34.0% |
| Suppliers | 440/4 | €238,621 | €319,835 | +€81,214 | +34.0% |
| Taxes, remuneration and social security | 45 | €262 | €45,518 | +€45,257 | +17300.0% |
| Taxes | 450/3 | €262 | €45,518 | +€45,257 | +17300.0% |
| Other amounts payable | 47/48 | €85,518 | €241,761 | +€156,243 | +182.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €68,482 | +€68,482 | |
| Other operating charges | 640/8 | €1,237 | €1,145 | -€92 | -7.5% |
| Gross operating margin | 9900 | -€11,704 | -€5,696 | +€6,008 | +51.3% |
| Operating profit (loss) | 9901 | -€12,940 | -€75,323 | -€62,382 | -482.1% |
| Financial income | 75/76B | €2,982 | €29 | -€2,953 | -99.0% |
| Recurring financial income | 75 | €2,982 | €29 | -€2,953 | -99.0% |
| Financial charges | 65/66B | €56,621 | €91,548 | +€34,927 | +61.7% |
| Recurring financial charges | 65 | €56,621 | €91,548 | +€34,927 | +61.7% |
| Profit (loss) for the period before taxes | 9903 | -€66,580 | -€166,841 | -€100,262 | -150.6% |
| Income taxes | 67/77 | €262 | - | -€262 | |
| Profit (loss) for the period | 9904 | -€66,841 | -€166,841 | -€100,000 | -149.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,841 | -€166,841 | -€100,000 | -149.6% |
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.