ECS: 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.
ECS
Largest movements
- Receivables within one year +€106,054
up €106,054 (+50.5%), from €210,206 to €316,260
of which Other amounts receivable: +€67,711
- Tangible fixed assets -€8,843
down €8,843 (-5.8%), from €151,336 to €142,493
of which Land and buildings: -€8,780
- Stocks and contracts +€6,819
up €6,819 (+27.5%), from €24,815 to €31,634
- Profit (loss) carried forward +€103,589
up €103,589, from -€103,589 to €0
- Revaluation surpluses -€40,625
down €40,625 (-26.3%), from €154,375 to €113,750
- Trade debts +€23,490
up €23,490 (+151.7%), from €15,482 to €38,971
- Tax, wage and social debts +€12,884
up €12,884 (+79.8%), from €16,141 to €29,025
of which Taxes: +€6,894
- Gross operating margin +€107,431
up €107,431 (+86.1%), from €124,764 to €232,195
- Staff costs +€37,534
up €37,534 (+39.3%), from €95,549 to €133,083
- Taxes +€9,222
up €9,222 (+436.7%), from €2,112 to €11,334
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 | €486,889 | €587,863 | +€100,974 | +20.7% |
| Fixed assets | 21/28 | €151,336 | €142,493 | -€8,843 | -5.8% |
| Tangible fixed assets | 22/27 | €151,336 | €142,493 | -€8,843 | -5.8% |
| Land and buildings | 22 | €151,146 | €142,366 | -€8,780 | -5.8% |
| Plant, machinery and equipment | 23 | €190 | €126 | -€63 | -33.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €335,553 | €445,370 | +€109,817 | +32.7% |
| Amounts receivable after more than one year | 29 | €81,298 | €76,557 | -€4,741 | -5.8% |
| Other amounts receivable | 291 | €81,298 | €76,557 | -€4,741 | -5.8% |
| Stocks and contracts in progress | 3 | €24,815 | €31,634 | +€6,819 | +27.5% |
| Stocks | 30/36 | €24,815 | €31,634 | +€6,819 | +27.5% |
| Amounts receivable within one year | 40/41 | €210,206 | €316,260 | +€106,054 | +50.5% |
| Trade receivables | 40 | €26,760 | €65,103 | +€38,343 | +143.3% |
| Other amounts receivable | 41 | €183,446 | €251,157 | +€67,711 | +36.9% |
| Cash at bank and in hand | 54/58 | €19,235 | €19,791 | +€556 | +2.9% |
| Deferred charges and accrued income | 490/1 | - | €1,129 | +€1,129 | |
| Total equity and liabilities | 10/49 | €486,889 | €587,863 | +€100,974 | +20.7% |
| Equity | 10/15 | €271,258 | €337,888 | +€66,630 | +24.6% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Revaluation surpluses | 12 | €154,375 | €113,750 | -€40,625 | -26.3% |
| Reserves | 13 | €182,972 | €186,638 | +€3,666 | +2.0% |
| Non-distributable reserves | 130/1 | €3,750 | €3,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,750 | €3,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,882 | €4,882 | = | 0.0% |
| Distributable reserves | 133 | €174,340 | €178,006 | +€3,666 | +2.1% |
| Profit (loss) carried forward | 14 | -€103,589 | €0 | +€103,589 | |
| Amounts payable | 17/49 | €215,631 | €249,975 | +€34,344 | +15.9% |
| Amounts payable within one year | 42/48 | €213,956 | €249,975 | +€36,019 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €7,333 | €7,333 | +€0 | 0.0% |
| Financial debts | 43 | €175,000 | €174,645 | -€355 | -0.2% |
| Credit institutions | 430/8 | €175,000 | €174,645 | -€355 | -0.2% |
| Trade debts | 44 | €15,482 | €38,971 | +€23,490 | +151.7% |
| Suppliers | 440/4 | €15,482 | €38,971 | +€23,490 | +151.7% |
| Taxes, remuneration and social security | 45 | €16,141 | €29,025 | +€12,884 | +79.8% |
| Taxes | 450/3 | €6,976 | €13,870 | +€6,894 | +98.8% |
| Remuneration and social security | 454/9 | €9,165 | €15,155 | +€5,990 | +65.4% |
| Accrued charges and deferred income | 492/3 | €1,675 | €0 | -€1,675 | -100.0% |
| Remuneration, social security and pensions | 62 | €95,549 | €133,083 | +€37,534 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,398 | €8,843 | -€555 | -5.9% |
| Other operating charges | 640/8 | €4,258 | €3,603 | -€655 | -15.4% |
| Gross operating margin | 9900 | €124,764 | €232,195 | +€107,431 | +86.1% |
| Operating profit (loss) | 9901 | €15,559 | €86,666 | +€71,107 | +457.0% |
| Financial income | 75/76B | €10,198 | €11,415 | +€1,216 | +11.9% |
| Recurring financial income | 75 | €10,198 | €11,415 | +€1,216 | +11.9% |
| Financial charges | 65/66B | €19,040 | €20,117 | +€1,077 | +5.7% |
| Recurring financial charges | 65 | €19,040 | €20,117 | +€1,077 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €6,717 | €77,964 | +€71,246 | +1060.6% |
| Income taxes | 67/77 | €2,112 | €11,334 | +€9,222 | +436.7% |
| Profit (loss) for the period | 9904 | €4,606 | €66,630 | +€62,024 | +1346.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,606 | €66,630 | +€62,024 | +1346.7% |
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.