ECOTHEM: 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.
ECOTHEM
Largest movements
- Cash +€18,688
up €18,688 (+17.0%), from €109,690 to €128,377
mainly Net result for the year (+€78,181) and Other debts (+€46,672)
- Receivables within one year -€14,682
down €14,682 (-34.4%), from €42,656 to €27,974
of which Trade receivables: -€8,941
- Tangible fixed assets -€13,245
down €13,245 (-3.6%), from €372,134 to €358,889
of which Land and buildings: -€22,711
- Other debts +€46,672
up €46,672 (+82.5%), from €56,553 to €103,225
- Reserves -€27,082
down €27,082 (-4.2%), from €650,691 to €623,608
- Current portion of long-term debt -€18,800
down €18,800 (-100%), from €18,800 to €0
- Trade debts -€9,198
down €9,198 (-58.0%), from €15,856 to €6,657
- Gross operating margin -€12,107
down €12,107 (-7.4%), from €162,699 to €150,591
- Depreciation +€9,206
up €9,206 (+33.7%), from €27,291 to €36,497
- Financial charges -€3,763
down €3,763 (-78.2%), from €4,812 to €1,049
- Financial income -€3,296
down €3,296 (-73.4%), from €4,490 to €1,194
- Taxes +€1,628
up €1,628 (+5.6%), from €29,268 to €30,896
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €777,635 | €767,746 | -€9,890 | -1.3% |
| Fixed assets | 21/28 | €372,134 | €358,889 | -€13,245 | -3.6% |
| Tangible fixed assets | 22/27 | €372,134 | €358,889 | -€13,245 | -3.6% |
| Land and buildings | 22 | €255,919 | €233,208 | -€22,711 | -8.9% |
| Plant, machinery and equipment | 23 | €8,521 | €14,853 | +€6,332 | +74.3% |
| Furniture and vehicles | 24 | €3,440 | €13,514 | +€10,075 | +293% |
| Leasing and similar rights | 25 | €104,255 | €97,314 | -€6,941 | -6.7% |
| Current assets | 29/58 | €405,501 | €408,856 | +€3,355 | +0.8% |
| Amounts receivable within one year | 40/41 | €42,656 | €27,974 | -€14,682 | -34.4% |
| Trade receivables | 40 | €32,990 | €24,049 | -€8,941 | -27.1% |
| Other amounts receivable | 41 | €9,666 | €3,925 | -€5,741 | -59.4% |
| Current investments | 50/53 | €247,511 | €247,564 | +€52 | 0.0% |
| Cash at bank and in hand | 54/58 | €109,690 | €128,377 | +€18,688 | +17.0% |
| Deferred charges and accrued income | 490/1 | €5,644 | €4,941 | -€703 | -12.5% |
| Total equity and liabilities | 10/49 | €777,635 | €767,746 | -€9,890 | -1.3% |
| Equity | 10/15 | €660,691 | €633,608 | -€27,082 | -4.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €650,691 | €623,608 | -€27,082 | -4.2% |
| Distributable reserves | 133 | €650,691 | €623,608 | -€27,082 | -4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,945 | €134,137 | +€17,192 | +14.7% |
| Amounts payable after more than one year | 17 | €4,118 | €4,118 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €4,118 | €4,118 | = | 0.0% |
| Amounts payable within one year | 42/48 | €109,403 | €127,871 | +€18,467 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €18,800 | €0 | -€18,800 | -100% |
| Trade debts | 44 | €15,856 | €6,657 | -€9,198 | -58.0% |
| Suppliers | 440/4 | €15,856 | €6,657 | -€9,198 | -58.0% |
| Taxes, remuneration and social security | 45 | €18,195 | €17,988 | -€207 | -1.1% |
| Taxes | 450/3 | €18,195 | €17,988 | -€207 | -1.1% |
| Other amounts payable | 47/48 | €56,553 | €103,225 | +€46,672 | +82.5% |
| Accrued charges and deferred income | 492/3 | €3,424 | €2,148 | -€1,275 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,291 | €36,497 | +€9,206 | +33.7% |
| Other operating charges | 640/8 | €4,334 | €5,163 | +€829 | +19.1% |
| Gross operating margin | 9900 | €162,699 | €150,591 | -€12,107 | -7.4% |
| Operating profit (loss) | 9901 | €131,074 | €108,931 | -€22,143 | -16.9% |
| Financial income | 75/76B | €4,490 | €1,194 | -€3,296 | -73.4% |
| Recurring financial income | 75 | €4,490 | €1,194 | -€3,296 | -73.4% |
| Financial charges | 65/66B | €4,812 | €1,049 | -€3,763 | -78.2% |
| Recurring financial charges | 65 | €4,812 | €1,049 | -€3,763 | -78.2% |
| Profit (loss) for the period before taxes | 9903 | €130,752 | €109,077 | -€21,675 | -16.6% |
| Income taxes | 67/77 | €29,268 | €30,896 | +€1,628 | +5.6% |
| Profit (loss) for the period | 9904 | €101,484 | €78,181 | -€23,303 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,484 | €78,181 | -€23,303 | -23.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.