ECOSEM: 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.
ECOSEM
Largest movements
- Cash +€36,987
up €36,987 (+35.9%), from €102,980 to €139,967
mainly Net result for the year (+€51,595) and Other debts (+€50,675)
- Receivables after one year -€31,462
down €31,462 (-100.0%), from €31,462 to €0
- Stocks and contracts -€12,470
down €12,470 (-14.3%), from €87,029 to €74,559
- Tangible fixed assets -€6,065
down €6,065 (-7.5%), from €80,962 to €74,896
of which Plant, machinery and equipment: -€6,994
- Other debts +€50,675
up €50,675 (+683.3%), from €7,416 to €58,091
- Reserves -€32,632
down €32,632 (-8.3%), from €395,203 to €362,570
of which Non-distributable reserves: -€31,462
- Tax, wage and social debts -€25,093
down €25,093 (-30.5%), from €82,240 to €57,146
of which Taxes: -€19,989
- Debts after one year -€14,129
down €14,129 (-39.9%), from €35,440 to €21,311
- Trade debts +€8,219
up €8,219 (+24.9%), from €33,062 to €41,281
- Staff costs -€22,434
down €22,434 (-5.3%), from €423,062 to €400,628
- Gross operating margin -€12,837
down €12,837 (-2.4%), from €544,402 to €531,565
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 | €584,085 | €568,252 | -€15,833 | -2.7% |
| Fixed assets | 21/28 | €101,521 | €91,067 | -€10,454 | -10.3% |
| Intangible fixed assets | 21 | €15,863 | €11,474 | -€4,389 | -27.7% |
| Tangible fixed assets | 22/27 | €80,962 | €74,896 | -€6,065 | -7.5% |
| Plant, machinery and equipment | 23 | €49,234 | €42,240 | -€6,994 | -14.2% |
| Furniture and vehicles | 24 | €31,728 | €32,656 | +€929 | +2.9% |
| Financial fixed assets | 28 | €4,697 | €4,697 | = | 0.0% |
| Current assets | 29/58 | €482,564 | €477,185 | -€5,379 | -1.1% |
| Amounts receivable after more than one year | 29 | €31,462 | €0 | -€31,462 | -100.0% |
| Other amounts receivable | 291 | €31,462 | €0 | -€31,462 | -100.0% |
| Stocks and contracts in progress | 3 | €87,029 | €74,559 | -€12,470 | -14.3% |
| Stocks | 30/36 | €87,029 | €74,559 | -€12,470 | -14.3% |
| Amounts receivable within one year | 40/41 | €242,943 | €240,309 | -€2,634 | -1.1% |
| Trade receivables | 40 | €198,669 | €188,263 | -€10,406 | -5.2% |
| Other amounts receivable | 41 | €44,274 | €52,046 | +€7,772 | +17.6% |
| Cash at bank and in hand | 54/58 | €102,980 | €139,967 | +€36,987 | +35.9% |
| Deferred charges and accrued income | 490/1 | €18,150 | €22,350 | +€4,199 | +23.1% |
| Total equity and liabilities | 10/49 | €584,085 | €568,252 | -€15,833 | -2.7% |
| Equity | 10/15 | €401,407 | €368,774 | -€32,632 | -8.1% |
| Contributions | 10/11 | €6,204 | €6,204 | = | 0.0% |
| Reserves | 13 | €395,203 | €362,570 | -€32,632 | -8.3% |
| Non-distributable reserves | 130/1 | €31,462 | €0 | -€31,462 | -100.0% |
| Other | 1319 | €31,462 | €0 | -€31,462 | -100.0% |
| Distributable reserves | 133 | €363,741 | €362,570 | -€1,170 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €182,678 | €199,477 | +€16,799 | +9.2% |
| Amounts payable after more than one year | 17 | €35,440 | €21,311 | -€14,129 | -39.9% |
| Financial debts | 170/4 | €35,440 | €21,311 | -€14,129 | -39.9% |
| Amounts payable within one year | 42/48 | €145,290 | €177,547 | +€32,257 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €14,395 | €14,129 | -€266 | -1.8% |
| Financial debts | 43 | €7,038 | €6,899 | -€138 | -2.0% |
| Credit institutions | 430/8 | €6,776 | €6,751 | -€24 | -0.4% |
| Other loans | 439 | €262 | €148 | -€114 | -43.4% |
| Trade debts | 44 | €33,062 | €41,281 | +€8,219 | +24.9% |
| Suppliers | 440/4 | €33,062 | €41,281 | +€8,219 | +24.9% |
| Advances received on contracts in progress | 46 | €1,139 | €0 | -€1,139 | -100.0% |
| Taxes, remuneration and social security | 45 | €82,240 | €57,146 | -€25,093 | -30.5% |
| Taxes | 450/3 | €34,192 | €14,203 | -€19,989 | -58.5% |
| Remuneration and social security | 454/9 | €48,048 | €42,944 | -€5,104 | -10.6% |
| Other amounts payable | 47/48 | €7,416 | €58,091 | +€50,675 | +683.3% |
| Accrued charges and deferred income | 492/3 | €1,949 | €620 | -€1,329 | -68.2% |
| Remuneration, social security and pensions | 62 | €423,062 | €400,628 | -€22,434 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,638 | €32,176 | +€1,538 | +5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,551 | €21,005 | +€1,453 | +7.4% |
| Other operating charges | 640/8 | €3,969 | €2,307 | -€1,662 | -41.9% |
| Non-recurring operating charges | 66A | €3,000 | €0 | -€3,000 | -100.0% |
| Gross operating margin | 9900 | €544,402 | €531,565 | -€12,837 | -2.4% |
| Operating profit (loss) | 9901 | €64,181 | €75,450 | +€11,269 | +17.6% |
| Financial income | 75/76B | €4,948 | €9,102 | +€4,154 | +84.0% |
| Recurring financial income | 75 | €4,948 | €9,102 | +€4,154 | +84.0% |
| Financial charges | 65/66B | €7,296 | €9,978 | +€2,683 | +36.8% |
| Recurring financial charges | 65 | €7,296 | €9,978 | +€2,683 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €61,833 | €74,573 | +€12,740 | +20.6% |
| Income taxes | 67/77 | €19,225 | €22,978 | +€3,754 | +19.5% |
| Profit (loss) for the period | 9904 | €42,609 | €51,595 | +€8,986 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,609 | €51,595 | +€8,986 | +21.1% |
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 1 October 2026 via checked.be.