ECONOCOM GROUP: 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.
What changed
ECONOCOM GROUP
NACE 64.210, Activities of holding companies
fiscal year 2023 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€9.1m
2023 · €1.1m+€8.0m
Equity
€408.4m
2023 · €390.9m+€17.5m
Cash
€49,157
2023 · €70,406-€21,250
Balance sheet total
€985.9m
2023 · €962.7m+€23.2m
Largest movements
Assets
- Financial fixed assets +€37.3m
up €37.3m (+4.0%), from €935.8m to €973.1m
of which Affiliated companies: +€41.1m
Equity and liabilities
- Other debts -€182.5m
down €182.5m (-53.6%), from €340.7m to €158.2m
- Debts after one year +€167.0m
up €167.0m (+83.5%), from €200.0m to €367.0m
- Profit (loss) carried forward +€70.7m
up €70.7m (+31.6%), from €223.9m to €294.6m
- Contributions -€45.4m
down €45.4m (-33.0%), from €137.5m to €92.2m
of which Outside capital: -€45.4m
- Provisions +€30.8m
up €30.8m (+15400.0%), from €200,000 to €31.0m
Income statement
- Financial income +€35.1m
up €35.1m (+102.9%), from €34.1m to €69.2m
of which Non-recurring financial income: +€20.0m
- Financial charges +€31.3m
up €31.3m (+108.4%), from €28.9m to €60.1m
of which Non-recurring financial charges: +€33.7m
- Turnover +€1.7m
up €1.7m (+8.3%), from €20.4m to €22.1m
- Services and other goods +€756,880
up €756,880 (+2.9%), from €26.0m to €26.7m
- Staff costs -€611,879
down €611,879 (-41.2%), from €1.5m to €871,565
From the 2023 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 2023
€1.1m
Turnover
+€1.7m
Other operating income
-€138,674
Services and other goods
-€756,880
Staff costs
+€611,879
Depreciation
-€878
Write-downs
+€338,148
Provisions
-€289,621
Other operating charges
-€49,751
Other operating items
+€2.8m
Financial income
+€35.1m
Financial charges
-€31.3m
Taxes
+€255
Result 2025
€9.1m
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €962,684,871 | €985,900,082 | +€23.2m | +2.4% |
| Formation expenses | 20 | €530,033 | €1,176,727 | +€646,694 | +122.0% |
| Fixed assets | 21/28 | €935,844,936 | €973,102,505 | +€37.3m | +4.0% |
| Tangible fixed assets | 22/27 | €4,371 | €4,208 | -€163 | -3.7% |
| Plant, machinery and equipment | 23 | €4,371 | €4,208 | -€163 | -3.7% |
| Financial fixed assets | 28 | €935,840,565 | €973,098,297 | +€37.3m | +4.0% |
| Affiliated companies | 280/1 | €925,861,497 | €966,996,400 | +€41.1m | +4.4% |
| Participating interests | 280 | €925,861,497 | €966,996,400 | +€41.1m | +4.4% |
| Companies linked by participating interests | 282/3 | €56,042 | - | -€56,042 | |
| Participating interests | 282 | €56,042 | - | -€56,042 | |
| Other financial fixed assets | 284/8 | €9,923,027 | €6,101,897 | -€3.8m | -38.5% |
| Shares | 284 | €6,773,939 | €6,095,497 | -€678,443 | -10.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,149,087 | €6,400 | -€3.1m | -99.8% |
| Current assets | 29/58 | €26,309,902 | €11,620,851 | -€14.7m | -55.8% |
| Amounts receivable within one year | 40/41 | €9,649,198 | €4,185,160 | -€5.5m | -56.6% |
| Trade receivables | 40 | €4,499,199 | €2,682,781 | -€1.8m | -40.4% |
| Other amounts receivable | 41 | €5,150,000 | €1,502,379 | -€3.6m | -70.8% |
| Current investments | 50/53 | €16,563,254 | €7,065,305 | -€9.5m | -57.3% |
| Own shares | 50 | €16,563,254 | €7,065,305 | -€9.5m | -57.3% |
| Cash at bank and in hand | 54/58 | €70,406 | €49,157 | -€21,250 | -30.2% |
| Deferred charges and accrued income | 490/1 | €27,043 | €321,229 | +€294,186 | +1087.8% |
| Total equity and liabilities | 10/49 | €962,684,871 | €985,900,082 | +€23.2m | +2.4% |
| Equity | 10/15 | €390,856,847 | €408,352,920 | +€17.5m | +4.5% |
| Contributions | 10/11 | €137,514,254 | €92,162,210 | -€45.4m | -33.0% |
| Capital | 10 | €23,731,027 | €23,731,027 | = | 0.0% |
| Issued capital | 100 | €23,731,027 | €23,731,027 | = | 0.0% |
| Outside capital | 11 | €113,783,227 | €68,431,183 | -€45.4m | -39.9% |
| Share premium | 1100/10 | €113,783,227 | €68,431,183 | -€45.4m | -39.9% |
| Revaluation surpluses | 12 | €2,519,797 | €2,519,797 | = | 0.0% |
| Reserves | 13 | €26,938,586 | €19,057,550 | -€7.9m | -29.3% |
| Non-distributable reserves | 130/1 | €18,936,357 | €9,438,408 | -€9.5m | -50.2% |
| Legal reserve | 130 | €2,373,103 | €2,373,103 | = | 0.0% |
| Own shares acquired | 1312 | €16,563,254 | €7,065,305 | -€9.5m | -57.3% |
| Distributable reserves | 133 | €8,002,229 | €9,619,142 | +€1.6m | +20.2% |
| Profit (loss) carried forward | 14 | €223,884,211 | €294,613,365 | +€70.7m | +31.6% |
| Provisions and deferred taxes | 16 | €200,000 | €31,000,000 | +€30.8m | +15400.0% |
| Provisions for liabilities and charges | 160/5 | €200,000 | €31,000,000 | +€30.8m | +15400.0% |
| Other liabilities and charges | 164/5 | €200,000 | €31,000,000 | +€30.8m | +15400.0% |
| Amounts payable | 17/49 | €571,628,024 | €546,547,162 | -€25.1m | -4.4% |
| Amounts payable after more than one year | 17 | €200,000,000 | €367,000,000 | +€167.0m | +83.5% |
| Financial debts | 170/4 | €200,000,000 | €367,000,000 | +€167.0m | +83.5% |
| Unsubordinated bonds | 171 | €200,000,000 | €367,000,000 | +€167.0m | +83.5% |
| Amounts payable within one year | 42/48 | €368,626,226 | €177,026,428 | -€191.6m | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €2,148,187 | €3,351,133 | +€1.2m | +56.0% |
| Financial debts | 43 | €20,000,000 | €10,000,000 | -€10.0m | -50.0% |
| Credit institutions | 430/8 | €20,000,000 | €10,000,000 | -€10.0m | -50.0% |
| Trade debts | 44 | €5,386,393 | €3,882,626 | -€1.5m | -27.9% |
| Suppliers | 440/4 | €5,386,393 | €3,882,626 | -€1.5m | -27.9% |
| Taxes, remuneration and social security | 45 | €403,839 | €1,581,173 | +€1.2m | +291.5% |
| Taxes | 450/3 | €2,246 | €1,436,000 | +€1.4m | +63832.5% |
| Remuneration and social security | 454/9 | €401,593 | €145,174 | -€256,419 | -63.9% |
| Other amounts payable | 47/48 | €340,687,808 | €158,211,496 | -€182.5m | -53.6% |
| Accrued charges and deferred income | 492/3 | €3,001,798 | €2,520,734 | -€481,064 | -16.0% |
| Operating income | 70/76A | €23,474,504 | €27,835,640 | +€4.4m | +18.6% |
| Turnover | 70 | €20,395,616 | €22,098,251 | +€1.7m | +8.3% |
| Other operating income | 74 | €2,513,789 | €2,375,115 | -€138,674 | -5.5% |
| Non-recurring operating income | 76A | €565,100 | €3,362,273 | +€2.8m | +495.0% |
| Operating charges | 60/66A | €27,668,808 | €27,815,910 | +€147,102 | +0.5% |
| Services and other goods | 61 | €25,957,800 | €26,714,680 | +€756,880 | +2.9% |
| Remuneration, social security and pensions | 62 | €1,483,445 | €871,565 | -€611,879 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,554 | €2,432 | +€878 | +56.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €71,482 | -€266,665 | -€338,148 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€289,621 | - | +€289,621 | |
| Other operating charges | 640/8 | €444,149 | €493,899 | +€49,751 | +11.2% |
| Operating profit (loss) | 9901 | -€4,194,304 | €19,729 | +€4.2m | |
| Financial income | 75/76B | €34,127,693 | €69,238,191 | +€35.1m | +102.9% |
| Recurring financial income | 75 | €17,848,047 | €32,932,803 | +€15.1m | +84.5% |
| Income from financial fixed assets | 750 | €11,450,508 | €27,107,322 | +€15.7m | +136.7% |
| Income from current assets | 751 | €308,859 | €112,505 | -€196,354 | -63.6% |
| Other financial income | 752/9 | €6,088,680 | €5,712,976 | -€375,704 | -6.2% |
| Non-recurring financial income | 76B | €16,279,646 | €36,305,388 | +€20.0m | +123.0% |
| Financial charges | 65/66B | €28,854,453 | €60,130,514 | +€31.3m | +108.4% |
| Recurring financial charges | 65 | €21,264,837 | €18,835,071 | -€2.4m | -11.4% |
| Debt charges | 650 | €20,871,857 | €18,243,537 | -€2.6m | -12.6% |
| Other financial charges | 652/9 | €392,980 | €591,534 | +€198,554 | +50.5% |
| Non-recurring financial charges | 66B | €7,589,616 | €41,295,443 | +€33.7m | +444.1% |
| Profit (loss) for the period before taxes | 9903 | €1,078,936 | €9,127,406 | +€8.0m | +746.0% |
| Income taxes | 67/77 | €2,246 | €1,991 | -€255 | -11.4% |
| Taxes | 670/3 | €2,246 | €1,991 | -€255 | -11.4% |
| Profit (loss) for the period | 9904 | €1,076,689 | €9,125,415 | +€8.0m | +747.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,076,689 | €9,125,415 | +€8.0m | +747.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.