ECONEX: 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.
ECONEX
Largest movements
- Stocks and contracts +€292,464
up €292,464 (+31.1%), from €941,288 to €1.2m
- Deferred charges and accrued income -€198,569
down €198,569 (-59.6%), from €333,330 to €134,761
- Receivables within one year +€43,871
up €43,871 (+12.4%), from €352,895 to €396,766
of which Other amounts receivable: +€24,585
- Cash -€34,486
down €34,486 (-28.1%), from €122,544 to €88,058
mainly Stocks and contracts (-€292,464) and Contributions, distributions and other (-€95,123)
- Tangible fixed assets -€31,675
down €31,675 (-5.6%), from €566,591 to €534,916
of which Land and buildings: -€26,704
- Profit (loss) carried forward +€319,041
new in 2025: €319,041
- Reserves -€103,763
down €103,763 (-9.4%), from €1.1m to €1.0m
of which Distributable reserves: -€94,290
- Tax, wage and social debts -€71,940
down €71,940 (-47.8%), from €150,634 to €78,694
of which Taxes: -€57,422
- Trade debts -€70,008
down €70,008 (-13.0%), from €538,841 to €468,833
- Debts after one year -€63,532
down €63,532 (-11.5%), from €552,818 to €489,285
- Gross operating margin +€210,946
up €210,946 (+26.0%), from €811,071 to €1.0m
- Staff costs +€72,630
up €72,630 (+25.0%), from €290,114 to €362,744
- Financial charges +€35,272
up €35,272 (+18.6%), from €190,085 to €225,357
- Financial income +€17,093
up €17,093 (+343.4%), from €4,978 to €22,071
- Taxes +€11,501
up €11,501 (+12.0%), from €95,859 to €107,360
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 | €2,543,392 | €2,590,134 | +€46,742 | +1.8% |
| Fixed assets | 21/28 | €566,871 | €535,195 | -€31,675 | -5.6% |
| Tangible fixed assets | 22/27 | €566,591 | €534,916 | -€31,675 | -5.6% |
| Land and buildings | 22 | €561,620 | €534,916 | -€26,704 | -4.8% |
| Plant, machinery and equipment | 23 | €913 | €0 | -€913 | -100.0% |
| Furniture and vehicles | 24 | €4,058 | €0 | -€4,058 | -100.0% |
| Financial fixed assets | 28 | €280 | €280 | = | 0.0% |
| Current assets | 29/58 | €1,976,521 | €2,054,939 | +€78,418 | +4.0% |
| Stocks and contracts in progress | 3 | €941,288 | €1,233,752 | +€292,464 | +31.1% |
| Stocks | 30/36 | €941,288 | €1,233,752 | +€292,464 | +31.1% |
| Amounts receivable within one year | 40/41 | €352,895 | €396,766 | +€43,871 | +12.4% |
| Trade receivables | 40 | €310,913 | €330,199 | +€19,287 | +6.2% |
| Other amounts receivable | 41 | €41,982 | €66,567 | +€24,585 | +58.6% |
| Current investments | 50/53 | €226,464 | €201,602 | -€24,862 | -11.0% |
| Cash at bank and in hand | 54/58 | €122,544 | €88,058 | -€34,486 | -28.1% |
| Deferred charges and accrued income | 490/1 | €333,330 | €134,761 | -€198,569 | -59.6% |
| Total equity and liabilities | 10/49 | €2,543,392 | €2,590,134 | +€46,742 | +1.8% |
| Equity | 10/15 | €1,128,581 | €1,343,860 | +€215,278 | +19.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,108,581 | €1,004,819 | -€103,763 | -9.4% |
| Non-distributable reserves | 130/1 | €125,000 | €125,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €125,000 | - | -€125,000 | |
| Own shares acquired | 1312 | - | €125,000 | +€125,000 | |
| Tax-exempt reserves | 132 | €132,620 | €123,147 | -€9,473 | -7.1% |
| Distributable reserves | 133 | €850,962 | €756,672 | -€94,290 | -11.1% |
| Profit (loss) carried forward | 14 | - | €319,041 | +€319,041 | |
| Provisions and deferred taxes | 16 | €44,207 | €41,049 | -€3,158 | -7.1% |
| Deferred taxes | 168 | €44,207 | €41,049 | -€3,158 | -7.1% |
| Amounts payable | 17/49 | €1,370,604 | €1,205,225 | -€165,378 | -12.1% |
| Amounts payable after more than one year | 17 | €552,818 | €489,285 | -€63,532 | -11.5% |
| Financial debts | 170/4 | €552,818 | €489,285 | -€63,532 | -11.5% |
| Amounts payable within one year | 42/48 | €817,786 | €715,304 | -€102,482 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €117,415 | €163,766 | +€46,351 | +39.5% |
| Financial debts | 43 | €4,063 | €1,610 | -€2,453 | -60.4% |
| Credit institutions | 430/8 | €4,063 | €1,610 | -€2,453 | -60.4% |
| Trade debts | 44 | €538,841 | €468,833 | -€70,008 | -13.0% |
| Suppliers | 440/4 | €538,841 | €468,833 | -€70,008 | -13.0% |
| Taxes, remuneration and social security | 45 | €150,634 | €78,694 | -€71,940 | -47.8% |
| Taxes | 450/3 | €98,057 | €40,635 | -€57,422 | -58.6% |
| Remuneration and social security | 454/9 | €52,577 | €38,059 | -€14,518 | -27.6% |
| Other amounts payable | 47/48 | €6,833 | €2,402 | -€4,431 | -64.9% |
| Accrued charges and deferred income | 492/3 | - | €636 | +€636 | |
| Remuneration, social security and pensions | 62 | €290,114 | €362,744 | +€72,630 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,020 | €27,617 | -€2,403 | -8.0% |
| Other operating charges | 640/8 | €11,781 | €13,767 | +€1,985 | +16.8% |
| Gross operating margin | 9900 | €811,071 | €1,022,017 | +€210,946 | +26.0% |
| Operating profit (loss) | 9901 | €479,155 | €617,889 | +€138,734 | +29.0% |
| Financial income | 75/76B | €4,978 | €22,071 | +€17,093 | +343.4% |
| Recurring financial income | 75 | €4,978 | €22,071 | +€17,093 | +343.4% |
| Financial charges | 65/66B | €190,085 | €225,357 | +€35,272 | +18.6% |
| Recurring financial charges | 65 | €190,085 | €225,357 | +€35,272 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €294,048 | €414,604 | +€120,556 | +41.0% |
| Transfer from deferred taxes | 780 | €3,158 | €3,158 | = | 0.0% |
| Income taxes | 67/77 | €95,859 | €107,360 | +€11,501 | +12.0% |
| Profit (loss) for the period | 9904 | €201,347 | €310,401 | +€109,054 | +54.2% |
| Transfer from tax-exempt reserves | 789 | €9,473 | €9,473 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €210,820 | €319,874 | +€109,054 | +51.7% |
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 11 October 2026 via checked.be.