ECOX: 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.
ECOX
Largest movements
- Stocks and contracts +€154,901
up €154,901 (+520.5%), from €29,762 to €184,663
- Receivables within one year +€105,470
up €105,470 (+6196.3%), from €1,702 to €107,172
of which Other amounts receivable: +€58,560
- Cash +€51,784
up €51,784 (+136.4%), from €37,970 to €89,754
mainly Advances received (+€134,696) and Short-term financial debts (+€100,000)
- Tangible fixed assets +€45,723
new in 2025: €45,723
of which Furniture and vehicles: +€35,723
- Advances received +€134,696
new in 2025: €134,696
- Short-term financial debts +€100,000
new in 2025: €100,000
- Trade debts +€65,862
up €65,862 (+1458.8%), from €4,515 to €70,377
- Profit (loss) carried forward +€26,643
up €26,643 (+120.6%), from €22,099 to €48,742
- Debts after one year +€26,291
new in 2025: €26,291
- Gross operating margin +€3,724
up €3,724 (+10.8%), from €34,499 to €38,223
- Taxes +€1,827
up €1,827 (+33.1%), from €5,525 to €7,351
- Financial charges +€1,525
up €1,525 (+704.1%), from €217 to €1,741
- Depreciation +€1,277
new in 2025: €1,277
- Other operating charges +€581
up €581 (+87.5%), from €663 to €1,244
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 | €69,434 | €427,356 | +€357,923 | +515.5% |
| Fixed assets | 21/28 | - | €45,723 | +€45,723 | |
| Tangible fixed assets | 22/27 | - | €45,723 | +€45,723 | |
| Furniture and vehicles | 24 | - | €35,723 | +€35,723 | |
| Assets under construction and advance payments | 27 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €69,434 | €381,633 | +€312,199 | +449.6% |
| Stocks and contracts in progress | 3 | €29,762 | €184,663 | +€154,901 | +520.5% |
| Stocks | 30/36 | €29,762 | €184,663 | +€154,901 | +520.5% |
| Amounts receivable within one year | 40/41 | €1,702 | €107,172 | +€105,470 | +6196.3% |
| Trade receivables | 40 | €1,345 | €48,255 | +€46,910 | +3488.3% |
| Other amounts receivable | 41 | €357 | €58,917 | +€58,560 | +16387.7% |
| Cash at bank and in hand | 54/58 | €37,970 | €89,754 | +€51,784 | +136.4% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €69,434 | €427,356 | +€357,923 | +515.5% |
| Equity | 10/15 | €52,099 | €78,742 | +€26,643 | +51.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,099 | €48,742 | +€26,643 | +120.6% |
| Amounts payable | 17/49 | €17,335 | €348,615 | +€331,280 | +1911.1% |
| Amounts payable after more than one year | 17 | - | €26,291 | +€26,291 | |
| Financial debts | 170/4 | - | €26,291 | +€26,291 | |
| Amounts payable within one year | 42/48 | €17,335 | €322,323 | +€304,988 | +1759.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,899 | +€9,899 | |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €4,515 | €70,377 | +€65,862 | +1458.8% |
| Suppliers | 440/4 | €4,515 | €70,377 | +€65,862 | +1458.8% |
| Advances received on contracts in progress | 46 | - | €134,696 | +€134,696 | |
| Taxes, remuneration and social security | 45 | €5,525 | €7,351 | +€1,827 | +33.1% |
| Taxes | 450/3 | €5,525 | €7,351 | +€1,827 | +33.1% |
| Other amounts payable | 47/48 | €7,295 | €0 | -€7,295 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,277 | +€1,277 | |
| Other operating charges | 640/8 | €663 | €1,244 | +€581 | +87.5% |
| Gross operating margin | 9900 | €34,499 | €38,223 | +€3,724 | +10.8% |
| Operating profit (loss) | 9901 | €33,836 | €35,702 | +€1,867 | +5.5% |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €217 | €1,741 | +€1,525 | +704.1% |
| Recurring financial charges | 65 | €217 | €1,741 | +€1,525 | +704.1% |
| Profit (loss) for the period before taxes | 9903 | €33,619 | €33,994 | +€375 | +1.1% |
| Income taxes | 67/77 | €5,525 | €7,351 | +€1,827 | +33.1% |
| Profit (loss) for the period | 9904 | €28,094 | €26,643 | -€1,451 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,094 | €26,643 | -€1,451 | -5.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.