ECOLENA: 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.
ECOLENA
Largest movements
- Tangible fixed assets +€203,702
up €203,702 (+12.9%), from €1.6m to €1.8m
of which Assets under construction and advance payments: +€203,702
- Receivables within one year -€61,651
down €61,651 (-99.0%), from €62,293 to €642
- Short-term financial debts +€118,536
up €118,536 (+7.6%), from €1.6m to €1.7m
of which Other loans: +€124,284
- Other debts +€58,162
up €58,162 (+19.9%), from €291,705 to €349,867
- Trade debts -€33,482
down €33,482 (-50.4%), from €66,418 to €32,936
- Profit (loss) carried forward -€21,126
down €21,126 (-6.9%), from -€304,220 to -€325,346
- Current portion of long-term debt +€18,961
new in 2025: €18,961
- Financial charges -€83,509
down €83,509 (-92.6%), from €90,227 to €6,718
- Depreciation -€15,047
no longer reported in 2025 (was €15,047)
- Gross operating margin -€751
down €751 (-6.2%), from -€12,192 to -€12,943
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,638,104 | €1,780,155 | +€142,051 | +8.7% |
| Fixed assets | 21/28 | €1,575,812 | €1,779,514 | +€203,702 | +12.9% |
| Tangible fixed assets | 22/27 | €1,575,812 | €1,779,514 | +€203,702 | +12.9% |
| Land and buildings | 22 | €1,319,399 | €1,319,399 | = | 0.0% |
| Assets under construction and advance payments | 27 | €256,413 | €460,115 | +€203,702 | +79.4% |
| Current assets | 29/58 | €62,293 | €642 | -€61,651 | -99.0% |
| Amounts receivable within one year | 40/41 | €62,293 | €642 | -€61,651 | -99.0% |
| Other amounts receivable | 41 | €62,293 | €642 | -€61,651 | -99.0% |
| Total equity and liabilities | 10/49 | €1,638,104 | €1,780,155 | +€142,051 | +8.7% |
| Equity | 10/15 | -€271,220 | -€292,346 | -€21,126 | -7.8% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€304,220 | -€325,346 | -€21,126 | -6.9% |
| Amounts payable | 17/49 | €1,909,324 | €2,072,501 | +€163,177 | +8.5% |
| Amounts payable within one year | 42/48 | €1,909,324 | €2,071,501 | +€162,177 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | - | €18,961 | +€18,961 | |
| Financial debts | 43 | €1,551,201 | €1,669,737 | +€118,536 | +7.6% |
| Credit institutions | 430/8 | €5,748 | - | -€5,748 | |
| Other loans | 439 | €1,545,453 | €1,669,737 | +€124,284 | +8.0% |
| Trade debts | 44 | €66,418 | €32,936 | -€33,482 | -50.4% |
| Suppliers | 440/4 | €66,418 | €32,936 | -€33,482 | -50.4% |
| Other amounts payable | 47/48 | €291,705 | €349,867 | +€58,162 | +19.9% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,047 | - | -€15,047 | |
| Other operating charges | 640/8 | €1,580 | €1,464 | -€115 | -7.3% |
| Gross operating margin | 9900 | -€12,192 | -€12,943 | -€751 | -6.2% |
| Operating profit (loss) | 9901 | -€28,819 | -€14,407 | +€14,411 | +50.0% |
| Financial charges | 65/66B | €90,227 | €6,718 | -€83,509 | -92.6% |
| Recurring financial charges | 65 | €90,227 | €6,718 | -€83,509 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | -€119,046 | -€21,126 | +€97,920 | +82.3% |
| Profit (loss) for the period | 9904 | -€119,046 | -€21,126 | +€97,920 | +82.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,046 | -€21,126 | +€97,920 | +82.3% |
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 8 October 2026 via checked.be.