ECOSAN: 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.
ECOSAN
Largest movements
- Receivables within one year +€225,077
up €225,077 (+271%), from €83,044 to €308,121
of which Other amounts receivable: +€214,545
- Cash -€28,554
down €28,554 (-44.7%), from €63,909 to €35,355
mainly Receivables within one year (-€225,077) and Investment in fixed assets (net) (-€42,296)
- Tangible fixed assets -€8,721
down €8,721 (-2.8%), from €316,237 to €307,516
of which Leasing and similar rights: -€27,534
- Debts after one year +€171,776
up €171,776 (+76.5%), from €224,562 to €396,338
- Reserves +€33,796
up €33,796 (+36.7%), from €92,125 to €125,921
- Profit (loss) carried forward -€19,873
no longer reported in 2025 (was €19,873)
- Current portion of long-term debt -€17,088
down €17,088 (-18.5%), from €92,618 to €75,529
- Tax, wage and social debts +€10,021
up €10,021 (+899%), from €1,115 to €11,136
- Staff costs +€77,363
up €77,363 (+29.7%), from €260,622 to €337,985
- Gross operating margin +€64,102
up €64,102 (+17.6%), from €363,354 to €427,456
- Depreciation +€12,143
up €12,143 (+31.2%), from €38,875 to €51,017
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.
Derived cash bridge
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 | €466,393 | €652,739 | +€186,347 | +40.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €317,457 | €308,736 | -€8,721 | -2.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €316,237 | €307,516 | -€8,721 | -2.8% |
| Land and buildings | 22 | €185,751 | €182,664 | -€3,087 | -1.7% |
| Plant, machinery and equipment | 23 | €932 | €2,612 | +€1,679 | +180% |
| Furniture and vehicles | 24 | €20,960 | €41,181 | +€20,221 | +96.5% |
| Leasing and similar rights | 25 | €108,594 | €81,060 | -€27,534 | -25.4% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,220 | €1,220 | = | 0.0% |
| Current assets | 29/58 | €148,935 | €344,003 | +€195,068 | +131% |
| Amounts receivable within one year | 40/41 | €83,044 | €308,121 | +€225,077 | +271% |
| Trade receivables | 40 | €718 | €11,250 | +€10,532 | +1,466% |
| Other amounts receivable | 41 | €82,325 | €296,871 | +€214,545 | +261% |
| Cash at bank and in hand | 54/58 | €63,909 | €35,355 | -€28,554 | -44.7% |
| Deferred charges and accrued income | 490/1 | €1,982 | €527 | -€1,455 | -73.4% |
| Total equity and liabilities | 10/49 | €466,393 | €652,739 | +€186,347 | +40.0% |
| Equity | 10/15 | €130,599 | €144,521 | +€13,923 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,125 | €125,921 | +€33,796 | +36.7% |
| Distributable reserves | 133 | €92,125 | €125,921 | +€33,796 | +36.7% |
| Profit (loss) carried forward | 14 | €19,873 | - | -€19,873 | |
| Amounts payable | 17/49 | €335,794 | €508,218 | +€172,424 | +51.3% |
| Amounts payable after more than one year | 17 | €224,562 | €396,338 | +€171,776 | +76.5% |
| Financial debts | 170/4 | €224,562 | €396,338 | +€171,776 | +76.5% |
| Amounts payable within one year | 42/48 | €111,232 | €111,880 | +€648 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €92,618 | €75,529 | -€17,088 | -18.5% |
| Trade debts | 44 | €17,500 | €25,216 | +€7,716 | +44.1% |
| Suppliers | 440/4 | €17,500 | €25,216 | +€7,716 | +44.1% |
| Taxes, remuneration and social security | 45 | €1,115 | €11,136 | +€10,021 | +899% |
| Remuneration and social security | 454/9 | €1,115 | €11,136 | +€10,021 | +899% |
| Non-recurring operating income | 76A | €4,984 | €2,492 | -€2,493 | -50.0% |
| Remuneration, social security and pensions | 62 | €260,622 | €337,985 | +€77,363 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,875 | €51,017 | +€12,143 | +31.2% |
| Other operating charges | 640/8 | €768 | €884 | +€116 | +15.0% |
| Non-recurring operating charges | 66A | €7,553 | - | -€7,553 | |
| Gross operating margin | 9900 | €363,354 | €427,456 | +€64,102 | +17.6% |
| Operating profit (loss) | 9901 | €55,536 | €37,570 | -€17,966 | -32.4% |
| Financial income | 75/76B | €19 | €617 | +€598 | +3,118% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -99.9% |
| Non-recurring financial income | 76B | - | €617 | +€617 | |
| Financial charges | 65/66B | €11,467 | €13,049 | +€1,582 | +13.8% |
| Recurring financial charges | 65 | €11,236 | €13,049 | +€1,813 | +16.1% |
| Non-recurring financial charges | 66B | €231 | - | -€231 | |
| Profit (loss) for the period before taxes | 9903 | €44,088 | €25,138 | -€18,951 | -43.0% |
| Income taxes | 67/77 | €8,470 | €11,215 | +€2,745 | +32.4% |
| Profit (loss) for the period | 9904 | €35,618 | €13,923 | -€21,695 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,618 | €13,923 | -€21,695 | -60.9% |
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 14 October 2026 via checked.be.