ECOWELL: 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.
ECOWELL
Largest movements
- Stocks and contracts -€91,652
down €91,652 (-40.4%), from €226,739 to €135,087
- Receivables within one year -€76,835
down €76,835 (-66.0%), from €116,398 to €39,563
of which Trade receivables: -€76,732
- Tangible fixed assets -€26,747
down €26,747 (-30.6%), from €87,313 to €60,565
- Cash -€9,148
down €9,148 (-55.5%), from €16,495 to €7,347
mainly Net result for the year (-€115,504) and Debts after one year (-€52,536)
- Profit (loss) carried forward -€115,504
down €115,504 (-93.1%), from -€124,000 to -€239,504
- Debts after one year -€52,536
down €52,536 (-15.9%), from €331,283 to €278,747
- Trade debts -€40,546
down €40,546 (-30.2%), from €134,330 to €93,784
- Current portion of long-term debt +€6,170
up €6,170 (+44.5%), from €13,866 to €20,036
- Accrued charges and deferred income -€4,827
down €4,827 (-100.0%), from €4,827 to €0
- Write-downs +€27,657
new in 2025: €27,657
- Gross operating margin +€25,315
up €25,315 (+203.3%), from €12,452 to €37,768
- Financial charges +€7,234
up €7,234 (+33.2%), from €21,816 to €29,050
- Other operating charges +€5,433
up €5,433 (+39.5%), from €13,738 to €19,171
- Depreciation +€1,023
up €1,023 (+2.7%), from €37,685 to €38,708
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 | €464,350 | €257,656 | -€206,694 | -44.5% |
| Formation expenses | 20 | €1,154 | €899 | -€255 | -22.1% |
| Fixed assets | 21/28 | €101,814 | €74,449 | -€27,365 | -26.9% |
| Intangible fixed assets | 21 | €1,965 | €1,347 | -€618 | -31.4% |
| Tangible fixed assets | 22/27 | €87,313 | €60,565 | -€26,747 | -30.6% |
| Plant, machinery and equipment | 23 | €22,092 | €12,104 | -€9,988 | -45.2% |
| Furniture and vehicles | 24 | €32,290 | €22,821 | -€9,469 | -29.3% |
| Other tangible fixed assets | 26 | €32,931 | €25,641 | -€7,290 | -22.1% |
| Financial fixed assets | 28 | €12,537 | €12,537 | = | 0.0% |
| Current assets | 29/58 | €361,382 | €182,308 | -€179,074 | -49.6% |
| Stocks and contracts in progress | 3 | €226,739 | €135,087 | -€91,652 | -40.4% |
| Stocks | 30/36 | €226,739 | €135,087 | -€91,652 | -40.4% |
| Amounts receivable within one year | 40/41 | €116,398 | €39,563 | -€76,835 | -66.0% |
| Trade receivables | 40 | €111,945 | €35,213 | -€76,732 | -68.5% |
| Other amounts receivable | 41 | €4,453 | €4,350 | -€103 | -2.3% |
| Cash at bank and in hand | 54/58 | €16,495 | €7,347 | -€9,148 | -55.5% |
| Deferred charges and accrued income | 490/1 | €1,750 | €311 | -€1,439 | -82.2% |
| Total equity and liabilities | 10/49 | €464,350 | €257,656 | -€206,694 | -44.5% |
| Equity | 10/15 | -€27,000 | -€142,504 | -€115,504 | -427.8% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,000 | -€239,504 | -€115,504 | -93.1% |
| Amounts payable | 17/49 | €491,350 | €400,161 | -€91,190 | -18.6% |
| Amounts payable after more than one year | 17 | €331,283 | €278,747 | -€52,536 | -15.9% |
| Financial debts | 170/4 | €331,283 | €278,747 | -€52,536 | -15.9% |
| Amounts payable within one year | 42/48 | €155,241 | €121,414 | -€33,827 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €13,866 | €20,036 | +€6,170 | +44.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €134,330 | €93,784 | -€40,546 | -30.2% |
| Suppliers | 440/4 | €134,330 | €93,784 | -€40,546 | -30.2% |
| Taxes, remuneration and social security | 45 | €7,044 | €7,593 | +€549 | +7.8% |
| Taxes | 450/3 | €4,753 | €7,593 | +€2,841 | +59.8% |
| Remuneration and social security | 454/9 | €2,292 | €0 | -€2,292 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,827 | €0 | -€4,827 | -100.0% |
| Non-recurring operating income | 76A | €15 | €1,868 | +€1,853 | +12353.5% |
| Remuneration, social security and pensions | 62 | €38,810 | €38,372 | -€438 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,685 | €38,708 | +€1,023 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,657 | +€27,657 | |
| Other operating charges | 640/8 | €13,738 | €19,171 | +€5,433 | +39.5% |
| Non-recurring operating charges | 66A | €0 | €475 | +€475 | |
| Gross operating margin | 9900 | €12,452 | €37,768 | +€25,315 | +203.3% |
| Operating profit (loss) | 9901 | -€77,780 | -€86,615 | -€8,835 | -11.4% |
| Financial income | 75/76B | €0 | €161 | +€161 | |
| Recurring financial income | 75 | €0 | €161 | +€161 | |
| Financial charges | 65/66B | €21,816 | €29,050 | +€7,234 | +33.2% |
| Recurring financial charges | 65 | €21,816 | €29,050 | +€7,234 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | -€99,596 | -€115,504 | -€15,908 | -16.0% |
| Profit (loss) for the period | 9904 | -€99,596 | -€115,504 | -€15,908 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€99,596 | -€115,504 | -€15,908 | -16.0% |
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 5 October 2026 via checked.be.