ECoOB: 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.
ECoOB
Largest movements
- Financial fixed assets +€647,200
up €647,200 (+1432.0%), from €45,195 to €692,395
- Current investments -€389,088
down €389,088 (-50.5%), from €770,000 to €380,912
- Receivables after one year -€160,000
down €160,000 (-62.9%), from €254,500 to €94,500
- Deferred charges and accrued income +€105,731
up €105,731 (+97.5%), from €108,434 to €214,165
- Tangible fixed assets +€78,241
up €78,241 (+2.6%), from €3.0m to €3.1m
of which Plant, machinery and equipment: +€84,075
- Contributions +€295,750
up €295,750 (+8.1%), from €3.7m to €4.0m
- Other debts +€48,614
up €48,614 (+63.0%), from €77,118 to €125,732
- Gross operating margin +€179,313
up €179,313 (+28.9%), from €619,632 to €798,946
- Staff costs +€89,679
up €89,679 (+24.5%), from €366,196 to €455,875
- Depreciation +€30,608
up €30,608 (+18.3%), from €167,223 to €197,830
- Other operating charges +€14,525
up €14,525 (+564.2%), from €2,574 to €17,099
- Financial income +€14,068
up €14,068 (+102.7%), from €13,694 to €27,762
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 | €4,305,407 | €4,639,550 | +€334,142 | +7.8% |
| Fixed assets | 21/28 | €3,048,096 | €3,772,954 | +€724,858 | +23.8% |
| Intangible fixed assets | 21 | €2,082 | €1,500 | -€582 | -28.0% |
| Tangible fixed assets | 22/27 | €3,000,818 | €3,079,059 | +€78,241 | +2.6% |
| Plant, machinery and equipment | 23 | €2,990,583 | €3,074,658 | +€84,075 | +2.8% |
| Furniture and vehicles | 24 | €10,235 | €4,401 | -€5,835 | -57.0% |
| Financial fixed assets | 28 | €45,195 | €692,395 | +€647,200 | +1432.0% |
| Current assets | 29/58 | €1,257,312 | €866,596 | -€390,716 | -31.1% |
| Amounts receivable after more than one year | 29 | €254,500 | €94,500 | -€160,000 | -62.9% |
| Other amounts receivable | 291 | €254,500 | €94,500 | -€160,000 | -62.9% |
| Stocks and contracts in progress | 3 | €42 | €584 | +€542 | +1289.5% |
| Stocks | 30/36 | €42 | €584 | +€542 | +1289.5% |
| Amounts receivable within one year | 40/41 | €79,537 | €105,094 | +€25,557 | +32.1% |
| Trade receivables | 40 | €76,009 | €98,909 | +€22,901 | +30.1% |
| Other amounts receivable | 41 | €3,528 | €6,185 | +€2,657 | +75.3% |
| Current investments | 50/53 | €770,000 | €380,912 | -€389,088 | -50.5% |
| Cash at bank and in hand | 54/58 | €44,798 | €71,341 | +€26,542 | +59.2% |
| Deferred charges and accrued income | 490/1 | €108,434 | €214,165 | +€105,731 | +97.5% |
| Total equity and liabilities | 10/49 | €4,305,407 | €4,639,550 | +€334,142 | +7.8% |
| Equity | 10/15 | €3,686,759 | €3,995,848 | +€309,089 | +8.4% |
| Contributions | 10/11 | €3,663,500 | €3,959,250 | +€295,750 | +8.1% |
| Reserves | 13 | €23,259 | €36,598 | +€13,339 | +57.3% |
| Distributable reserves | 133 | €23,259 | €36,598 | +€13,339 | +57.3% |
| Amounts payable | 17/49 | €618,648 | €643,702 | +€25,054 | +4.0% |
| Amounts payable after more than one year | 17 | €390,036 | €360,453 | -€29,583 | -7.6% |
| Financial debts | 170/4 | €390,036 | €360,453 | -€29,583 | -7.6% |
| Amounts payable within one year | 42/48 | €212,994 | €261,597 | +€48,602 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €28,440 | €29,583 | +€1,143 | +4.0% |
| Trade debts | 44 | €43,066 | €33,704 | -€9,362 | -21.7% |
| Suppliers | 440/4 | €43,066 | €33,704 | -€9,362 | -21.7% |
| Taxes, remuneration and social security | 45 | €64,371 | €72,578 | +€8,207 | +12.7% |
| Taxes | 450/3 | €19,204 | €22,946 | +€3,743 | +19.5% |
| Remuneration and social security | 454/9 | €45,167 | €49,632 | +€4,465 | +9.9% |
| Other amounts payable | 47/48 | €77,118 | €125,732 | +€48,614 | +63.0% |
| Accrued charges and deferred income | 492/3 | €15,618 | €21,652 | +€6,034 | +38.6% |
| Remuneration, social security and pensions | 62 | €366,196 | €455,875 | +€89,679 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,223 | €197,830 | +€30,608 | +18.3% |
| Other operating charges | 640/8 | €2,574 | €17,099 | +€14,525 | +564.2% |
| Non-recurring operating charges | 66A | - | €950 | +€950 | |
| Gross operating margin | 9900 | €619,632 | €798,946 | +€179,313 | +28.9% |
| Operating profit (loss) | 9901 | €83,639 | €127,191 | +€43,552 | +52.1% |
| Financial income | 75/76B | €13,694 | €27,762 | +€14,068 | +102.7% |
| Recurring financial income | 75 | €13,694 | €27,762 | +€14,068 | +102.7% |
| Financial charges | 65/66B | €13,680 | €15,882 | +€2,203 | +16.1% |
| Recurring financial charges | 65 | €13,680 | €15,882 | +€2,203 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €83,654 | €139,071 | +€55,417 | +66.2% |
| Profit (loss) for the period | 9904 | €83,654 | €139,071 | +€55,417 | +66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,654 | €139,071 | +€55,417 | +66.2% |
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 5 October 2026 via checked.be.