ECOTERM.BE: 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.
ECOTERM.BE
Largest movements
- Stocks and contracts -€644,262
down €644,262 (-55.1%), from €1.2m to €525,425
- Receivables within one year +€387,078
up €387,078 (+99.0%), from €390,809 to €777,887
of which Trade receivables: +€296,664
- Deferred charges and accrued income -€84,950
down €84,950 (-87.7%), from €96,900 to €11,950
- Reserves +€362,850
up €362,850 (+72.3%), from €502,032 to €864,882
of which Distributable reserves: +€364,710
- Profit (loss) carried forward -€356,340
down €356,340 (-100.0%), from €356,340 to €0
- Accrued charges and deferred income -€345,647
down €345,647 (-99.6%), from €347,115 to €1,468
- Trade debts +€187,780
up €187,780 (+168.9%), from €111,159 to €298,939
- Tax, wage and social debts -€122,417
down €122,417 (-50.8%), from €240,824 to €118,407
of which Taxes: -€127,276
- Gross operating margin -€168,347
down €168,347 (-25.7%), from €654,043 to €485,695
- Staff costs +€103,693
up €103,693 (+62.1%), from €166,942 to €270,635
- Taxes -€82,791
down €82,791 (-78.0%), from €106,150 to €23,359
- Financial charges +€57,700
up €57,700 (+141.4%), from €40,812 to €98,511
- Write-downs -€12,374
down €12,374 (-100.0%), from €12,374 to €0
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,909,318 | €1,558,660 | -€350,658 | -18.4% |
| Fixed assets | 21/28 | €47,724 | €39,745 | -€7,979 | -16.7% |
| Tangible fixed assets | 22/27 | €47,724 | €39,745 | -€7,979 | -16.7% |
| Land and buildings | 22 | €3,201 | €1,325 | -€1,875 | -58.6% |
| Plant, machinery and equipment | 23 | €21,238 | €14,846 | -€6,392 | -30.1% |
| Furniture and vehicles | 24 | €23,285 | €23,574 | +€289 | +1.2% |
| Current assets | 29/58 | €1,861,594 | €1,518,915 | -€342,679 | -18.4% |
| Stocks and contracts in progress | 3 | €1,169,687 | €525,425 | -€644,262 | -55.1% |
| Stocks | 30/36 | €1,169,687 | €525,425 | -€644,262 | -55.1% |
| Amounts receivable within one year | 40/41 | €390,809 | €777,887 | +€387,078 | +99.0% |
| Trade receivables | 40 | €341,240 | €637,904 | +€296,664 | +86.9% |
| Other amounts receivable | 41 | €49,569 | €139,983 | +€90,414 | +182.4% |
| Cash at bank and in hand | 54/58 | €204,199 | €203,652 | -€546 | -0.3% |
| Deferred charges and accrued income | 490/1 | €96,900 | €11,950 | -€84,950 | -87.7% |
| Total equity and liabilities | 10/49 | €1,909,318 | €1,558,660 | -€350,658 | -18.4% |
| Equity | 10/15 | €864,572 | €871,082 | +€6,510 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €502,032 | €864,882 | +€362,850 | +72.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Tax-exempt reserves | 132 | €21,107 | €21,107 | = | 0.0% |
| Distributable reserves | 133 | €479,065 | €843,775 | +€364,710 | +76.1% |
| Profit (loss) carried forward | 14 | €356,340 | €0 | -€356,340 | -100.0% |
| Amounts payable | 17/49 | €1,044,746 | €687,578 | -€357,168 | -34.2% |
| Amounts payable within one year | 42/48 | €697,631 | €686,110 | -€11,520 | -1.7% |
| Financial debts | 43 | €345,648 | €268,764 | -€76,883 | -22.2% |
| Credit institutions | 430/8 | €345,648 | €268,764 | -€76,883 | -22.2% |
| Trade debts | 44 | €111,159 | €298,939 | +€187,780 | +168.9% |
| Suppliers | 440/4 | €111,159 | €298,939 | +€187,780 | +168.9% |
| Taxes, remuneration and social security | 45 | €240,824 | €118,407 | -€122,417 | -50.8% |
| Taxes | 450/3 | €223,057 | €95,781 | -€127,276 | -57.1% |
| Remuneration and social security | 454/9 | €17,767 | €22,626 | +€4,859 | +27.3% |
| Accrued charges and deferred income | 492/3 | €347,115 | €1,468 | -€345,647 | -99.6% |
| Remuneration, social security and pensions | 62 | €166,942 | €270,635 | +€103,693 | +62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,201 | €20,780 | +€10,579 | +103.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,374 | €0 | -€12,374 | -100.0% |
| Other operating charges | 640/8 | €707 | €3,304 | +€2,597 | +367.3% |
| Gross operating margin | 9900 | €654,043 | €485,695 | -€168,347 | -25.7% |
| Operating profit (loss) | 9901 | €463,819 | €190,977 | -€272,842 | -58.8% |
| Financial income | 75/76B | €4,134 | €5,585 | +€1,451 | +35.1% |
| Recurring financial income | 75 | €4,134 | €5,585 | +€1,451 | +35.1% |
| Financial charges | 65/66B | €40,812 | €98,511 | +€57,700 | +141.4% |
| Recurring financial charges | 65 | €40,812 | €98,511 | +€57,700 | +141.4% |
| Profit (loss) for the period before taxes | 9903 | €427,141 | €98,050 | -€329,090 | -77.0% |
| Income taxes | 67/77 | €106,150 | €23,359 | -€82,791 | -78.0% |
| Profit (loss) for the period | 9904 | €320,991 | €74,691 | -€246,299 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €320,991 | €74,691 | -€246,299 | -76.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.