Ecopand: 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.
Ecopand
Largest movements
- Tangible fixed assets -€98,803
down €98,803 (-6.4%), from €1.5m to €1.4m
- Receivables within one year -€30,481
down €30,481 (-24.4%), from €124,714 to €94,232
of which Trade receivables: -€30,754
- Cash +€27,312
up €27,312 (+97.9%), from €27,908 to €55,220
mainly Depreciation (+€127,614) and Net result for the year (+€46,423)
- Debts after one year -€91,381
down €91,381 (-22.6%), from €403,757 to €312,376
- Reserves +€46,423
up €46,423 (+5.2%), from €887,059 to €933,483
of which Distributable reserves: +€62,112
- Tax, wage and social debts -€17,430
down €17,430 (-49.2%), from €35,423 to €17,993
- Gross operating margin -€53,711
down €53,711 (-19.9%), from €269,457 to €215,746
- Taxes -€16,146
down €16,146 (-49.7%), from €32,470 to €16,324
- Other operating charges -€12,623
down €12,623 (-32.8%), from €38,531 to €25,908
- Financial charges -€5,914
down €5,914 (-34.6%), from €17,096 to €11,181
of which Financial charges: -€3,619
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 | €1,707,776 | €1,608,306 | -€99,470 | -5.8% |
| Fixed assets | 21/28 | €1,534,955 | €1,436,153 | -€98,803 | -6.4% |
| Tangible fixed assets | 22/27 | €1,534,955 | €1,436,153 | -€98,803 | -6.4% |
| Land and buildings | 22 | €1,334,186 | €1,291,815 | -€42,371 | -3.2% |
| Plant, machinery and equipment | 23 | €78,589 | €62,676 | -€15,914 | -20.2% |
| Furniture and vehicles | 24 | €122,180 | €79,602 | -€42,578 | -34.8% |
| Other tangible fixed assets | 26 | - | €2,060 | +€2,060 | |
| Current assets | 29/58 | €172,820 | €172,153 | -€667 | -0.4% |
| Stocks and contracts in progress | 3 | €13,959 | €20,140 | +€6,181 | +44.3% |
| Stocks | 30/36 | €13,959 | €20,140 | +€6,181 | +44.3% |
| Amounts receivable within one year | 40/41 | €124,714 | €94,232 | -€30,481 | -24.4% |
| Trade receivables | 40 | €124,664 | €93,910 | -€30,754 | -24.7% |
| Other amounts receivable | 41 | €50 | €322 | +€272 | +544.8% |
| Cash at bank and in hand | 54/58 | €27,908 | €55,220 | +€27,312 | +97.9% |
| Deferred charges and accrued income | 490/1 | €6,239 | €2,561 | -€3,678 | -59.0% |
| Total equity and liabilities | 10/49 | €1,707,776 | €1,608,306 | -€99,470 | -5.8% |
| Equity | 10/15 | €936,638 | €983,061 | +€46,423 | +5.0% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Capital | 10 | €49,579 | €49,579 | = | 0.0% |
| Issued capital | 100 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €887,059 | €933,483 | +€46,423 | +5.2% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Legal reserve | 130 | €4,958 | €4,958 | = | 0.0% |
| Tax-exempt reserves | 132 | €424,739 | €409,050 | -€15,688 | -3.7% |
| Distributable reserves | 133 | €457,363 | €519,474 | +€62,112 | +13.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €180,367 | €169,909 | -€10,459 | -5.8% |
| Deferred taxes | 168 | €180,367 | €169,909 | -€10,459 | -5.8% |
| Amounts payable | 17/49 | €590,770 | €455,336 | -€135,434 | -22.9% |
| Amounts payable after more than one year | 17 | €403,757 | €312,376 | -€91,381 | -22.6% |
| Financial debts | 170/4 | €403,757 | €312,376 | -€91,381 | -22.6% |
| Amounts payable within one year | 42/48 | €187,013 | €141,652 | -€45,361 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €95,351 | €91,381 | -€3,970 | -4.2% |
| Trade debts | 44 | €16,242 | €1,370 | -€14,872 | -91.6% |
| Suppliers | 440/4 | €16,242 | €1,370 | -€14,872 | -91.6% |
| Taxes, remuneration and social security | 45 | €35,423 | €17,993 | -€17,430 | -49.2% |
| Taxes | 450/3 | €35,423 | €17,993 | -€17,430 | -49.2% |
| Other amounts payable | 47/48 | €39,997 | €30,908 | -€9,089 | -22.7% |
| Accrued charges and deferred income | 492/3 | - | €1,307 | +€1,307 | |
| Non-recurring operating income | 76A | €18,039 | €0 | -€18,039 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,876 | €127,614 | +€738 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,930 | -€1,930 | |
| Other operating charges | 640/8 | €38,531 | €25,908 | -€12,623 | -32.8% |
| Non-recurring operating charges | 66A | - | €878 | +€878 | |
| Gross operating margin | 9900 | €269,457 | €215,746 | -€53,711 | -19.9% |
| Operating profit (loss) | 9901 | €104,049 | €63,276 | -€40,773 | -39.2% |
| Financial income | 75/76B | €378 | €194 | -€184 | -48.6% |
| Recurring financial income | 75 | €378 | €194 | -€184 | -48.6% |
| Financial charges | 65/66B | €17,096 | €11,181 | -€5,914 | -34.6% |
| Recurring financial charges | 65 | €14,801 | €11,181 | -€3,619 | -24.5% |
| Non-recurring financial charges | 66B | €2,295 | €0 | -€2,295 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €87,331 | €52,289 | -€35,043 | -40.1% |
| Transfer from deferred taxes | 780 | €10,459 | €10,459 | +€0 | 0.0% |
| Income taxes | 67/77 | €32,470 | €16,324 | -€16,146 | -49.7% |
| Profit (loss) for the period | 9904 | €65,320 | €46,423 | -€18,896 | -28.9% |
| Transfer from tax-exempt reserves | 789 | €15,688 | €15,688 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,008 | €62,112 | -€18,897 | -23.3% |
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.