ECOPA: 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.
ECOPA
Largest movements
- Receivables within one year +€47,195
up €47,195 (+775.5%), from €6,086 to €53,281
- Tangible fixed assets -€32,364
down €32,364 (-1.9%), from €1.7m to €1.6m
- Reserves +€93,695
up €93,695 (+51.9%), from €180,652 to €274,347
- Debts after one year -€66,905
down €66,905 (-8.4%), from €794,235 to €727,330
- Other debts -€42,382
down €42,382 (-10.0%), from €425,854 to €383,472
- Tax, wage and social debts +€34,770
up €34,770 (+80.9%), from €43,003 to €77,773
- Gross operating margin +€37,668
up €37,668 (+19.3%), from €194,820 to €232,487
- Taxes +€9,335
up €9,335 (+29.1%), from €32,031 to €41,366
- Depreciation -€5,721
down €5,721 (-15.0%), from €38,084 to €32,364
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 | €1,683,897 | €1,705,551 | +€21,654 | +1.3% |
| Fixed assets | 21/28 | €1,677,812 | €1,645,448 | -€32,364 | -1.9% |
| Tangible fixed assets | 22/27 | €1,677,812 | €1,645,448 | -€32,364 | -1.9% |
| Land and buildings | 22 | €1,677,812 | €1,645,448 | -€32,364 | -1.9% |
| Current assets | 29/58 | €6,086 | €60,103 | +€54,017 | +887.6% |
| Amounts receivable within one year | 40/41 | €6,086 | €53,281 | +€47,195 | +775.5% |
| Trade receivables | 40 | €6,086 | €53,281 | +€47,195 | +775.5% |
| Cash at bank and in hand | 54/58 | - | €6,823 | +€6,823 | |
| Total equity and liabilities | 10/49 | €1,683,897 | €1,705,551 | +€21,654 | +1.3% |
| Equity | 10/15 | €199,252 | €292,947 | +€93,695 | +47.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180,652 | €274,347 | +€93,695 | +51.9% |
| Distributable reserves | 133 | €180,652 | €274,347 | +€93,695 | +51.9% |
| Amounts payable | 17/49 | €1,484,645 | €1,412,604 | -€72,041 | -4.9% |
| Amounts payable after more than one year | 17 | €794,235 | €727,330 | -€66,905 | -8.4% |
| Financial debts | 170/4 | €794,235 | €727,330 | -€66,905 | -8.4% |
| Amounts payable within one year | 42/48 | €690,410 | €683,687 | -€6,724 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €64,995 | €66,905 | +€1,910 | +2.9% |
| Financial debts | 43 | €150,872 | €150,000 | -€872 | -0.6% |
| Credit institutions | 430/8 | €150,872 | €150,000 | -€872 | -0.6% |
| Trade debts | 44 | €5,686 | €5,537 | -€150 | -2.6% |
| Suppliers | 440/4 | €5,686 | €5,537 | -€150 | -2.6% |
| Taxes, remuneration and social security | 45 | €43,003 | €77,773 | +€34,770 | +80.9% |
| Taxes | 450/3 | €43,003 | €77,773 | +€34,770 | +80.9% |
| Other amounts payable | 47/48 | €425,854 | €383,472 | -€42,382 | -10.0% |
| Accrued charges and deferred income | 492/3 | - | €1,588 | +€1,588 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,084 | €32,364 | -€5,721 | -15.0% |
| Other operating charges | 640/8 | €15,135 | €15,604 | +€469 | +3.1% |
| Gross operating margin | 9900 | €194,820 | €232,487 | +€37,668 | +19.3% |
| Operating profit (loss) | 9901 | €141,600 | €184,519 | +€42,919 | +30.3% |
| Financial charges | 65/66B | €48,415 | €49,459 | +€1,044 | +2.2% |
| Recurring financial charges | 65 | €48,415 | €49,459 | +€1,044 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €93,185 | €135,061 | +€41,875 | +44.9% |
| Income taxes | 67/77 | €32,031 | €41,366 | +€9,335 | +29.1% |
| Profit (loss) for the period | 9904 | €61,154 | €93,695 | +€32,540 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,154 | €93,695 | +€32,540 | +53.2% |
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.