EconCore: 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.
EconCore
Largest movements
- Tangible fixed assets -€378,779
down €378,779 (-44.7%), from €846,608 to €467,829
of which Leasing and similar rights: -€213,695
- Cash +€156,347
up €156,347 (+45.8%), from €341,590 to €497,937
mainly Depreciation (+€762,275) and Net result for the year (+€228,142)
- Intangible fixed assets -€81,920
down €81,920 (-16.7%), from €489,831 to €407,912
- Receivables within one year +€56,728
up €56,728 (+7.0%), from €815,169 to €871,897
of which Trade receivables: +€104,848
- Profit (loss) carried forward +€218,678
up €218,678, from -€39,220 to €179,457
- Investment grants -€165,759
down €165,759 (-60.2%), from €275,166 to €109,407
- Debts after one year -€143,586
down €143,586 (-80.9%), from €177,382 to €33,796
- Accrued charges and deferred income -€141,334
down €141,334 (-37.9%), from €373,032 to €231,698
- Other debts +€84,000
up €84,000 (+43.8%), from €192,000 to €276,000
- Gross operating margin +€355,707
up €355,707 (+38.9%), from €913,637 to €1.3m
- Depreciation -€164,799
down €164,799 (-17.8%), from €927,074 to €762,275
- Financial income -€81,964
down €81,964 (-32.0%), from €256,307 to €174,343
of which Financial income: -€54,994
- Staff costs -€46,924
down €46,924 (-9.7%), from €484,519 to €437,594
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,674,456 | €3,398,999 | -€275,457 | -7.5% |
| Fixed assets | 21/28 | €2,344,189 | €1,883,491 | -€460,698 | -19.7% |
| Intangible fixed assets | 21 | €489,831 | €407,912 | -€81,920 | -16.7% |
| Tangible fixed assets | 22/27 | €846,608 | €467,829 | -€378,779 | -44.7% |
| Plant, machinery and equipment | 23 | €474,010 | €306,919 | -€167,091 | -35.3% |
| Furniture and vehicles | 24 | €3,468 | €5,475 | +€2,007 | +57.9% |
| Leasing and similar rights | 25 | €369,131 | €155,436 | -€213,695 | -57.9% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,007,750 | €1,007,750 | = | 0.0% |
| Current assets | 29/58 | €1,330,267 | €1,515,507 | +€185,241 | +13.9% |
| Amounts receivable after more than one year | 29 | €149,661 | €122,229 | -€27,431 | -18.3% |
| Other amounts receivable | 291 | €149,661 | €122,229 | -€27,431 | -18.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €815,169 | €871,897 | +€56,728 | +7.0% |
| Trade receivables | 40 | €684,384 | €789,232 | +€104,848 | +15.3% |
| Other amounts receivable | 41 | €130,785 | €82,664 | -€48,120 | -36.8% |
| Cash at bank and in hand | 54/58 | €341,590 | €497,937 | +€156,347 | +45.8% |
| Deferred charges and accrued income | 490/1 | €23,847 | €23,444 | -€403 | -1.7% |
| Total equity and liabilities | 10/49 | €3,674,456 | €3,398,999 | -€275,457 | -7.5% |
| Equity | 10/15 | €2,503,392 | €2,565,774 | +€62,383 | +2.5% |
| Contributions | 10/11 | €2,108,579 | €2,108,579 | = | 0.0% |
| Capital | 10 | €2,108,579 | €2,108,579 | = | 0.0% |
| Issued capital | 100 | €2,108,579 | €2,108,579 | = | 0.0% |
| Reserves | 13 | €158,867 | €168,331 | +€9,464 | +6.0% |
| Non-distributable reserves | 130/1 | €158,867 | €168,331 | +€9,464 | +6.0% |
| Legal reserve | 130 | €158,867 | €168,331 | +€9,464 | +6.0% |
| Profit (loss) carried forward | 14 | -€39,220 | €179,457 | +€218,678 | |
| Investment grants | 15 | €275,166 | €109,407 | -€165,759 | -60.2% |
| Provisions and deferred taxes | 16 | €59,393 | €35,813 | -€23,579 | -39.7% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Deferred taxes | 168 | €49,393 | €25,813 | -€23,579 | -47.7% |
| Amounts payable | 17/49 | €1,111,672 | €797,411 | -€314,261 | -28.3% |
| Amounts payable after more than one year | 17 | €177,382 | €33,796 | -€143,586 | -80.9% |
| Financial debts | 170/4 | €177,382 | €33,796 | -€143,586 | -80.9% |
| Amounts payable within one year | 42/48 | €561,258 | €531,916 | -€29,342 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €225,809 | €142,652 | -€83,157 | -36.8% |
| Trade debts | 44 | €87,059 | €31,818 | -€55,241 | -63.5% |
| Suppliers | 440/4 | €87,059 | €31,818 | -€55,241 | -63.5% |
| Taxes, remuneration and social security | 45 | €56,390 | €81,446 | +€25,056 | +44.4% |
| Taxes | 450/3 | €4,024 | €3,948 | -€76 | -1.9% |
| Remuneration and social security | 454/9 | €52,366 | €77,498 | +€25,132 | +48.0% |
| Other amounts payable | 47/48 | €192,000 | €276,000 | +€84,000 | +43.8% |
| Accrued charges and deferred income | 492/3 | €373,032 | €231,698 | -€141,334 | -37.9% |
| Non-recurring operating income | 76A | €34,371 | - | -€34,371 | |
| Remuneration, social security and pensions | 62 | €484,519 | €437,594 | -€46,924 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €927,074 | €762,275 | -€164,799 | -17.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,604 | - | +€2,604 | |
| Other operating charges | 640/8 | €39,590 | €28,245 | -€11,345 | -28.7% |
| Non-recurring operating charges | 66A | €230,011 | €694 | -€229,317 | -99.7% |
| Gross operating margin | 9900 | €913,637 | €1,269,344 | +€355,707 | +38.9% |
| Operating profit (loss) | 9901 | -€764,954 | €40,536 | +€805,490 | |
| Financial income | 75/76B | €256,307 | €174,343 | -€81,964 | -32.0% |
| Recurring financial income | 75 | €229,337 | €174,343 | -€54,994 | -24.0% |
| Non-recurring financial income | 76B | €26,969 | - | -€26,969 | |
| Financial charges | 65/66B | €30,144 | €18,980 | -€11,165 | -37.0% |
| Recurring financial charges | 65 | €30,144 | €18,980 | -€11,165 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | -€538,791 | €195,899 | +€734,691 | |
| Transfer from deferred taxes | 780 | €18,344 | €23,579 | +€5,235 | +28.5% |
| Income taxes | 67/77 | -€4,997 | -€8,663 | -€3,667 | -73.4% |
| Profit (loss) for the period | 9904 | -€515,450 | €228,142 | +€743,592 | |
| Profit (loss) for the period to be appropriated | 9905 | -€515,450 | €228,142 | +€743,592 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.