ECTORS: 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.
ECTORS
Largest movements
- Stocks and contracts -€16,252
no longer reported in 2025 (was €16,252)
- Tangible fixed assets -€6,183
down €6,183 (-53.2%), from €11,620 to €5,437
- Cash +€5,832
up €5,832 (+141.8%), from €4,112 to €9,944
mainly Stocks and contracts (+€16,252) and Other debts (+€9,710)
- Deferred charges and accrued income +€4,377
new in 2025: €4,377
- Receivables within one year -€3,496
down €3,496 (-2.2%), from €160,676 to €157,180
of which Other amounts receivable: -€7,822
- Profit (loss) carried forward -€30,290
down €30,290 (-26.9%), from -€112,520 to -€142,811
- Other debts +€9,710
up €9,710 (+13.2%), from €73,684 to €83,394
- Trade debts +€4,797
up €4,797 (+32.2%), from €14,897 to €19,694
- Gross operating margin +€38,940
up €38,940 (+67.7%), from -€57,488 to -€18,548
- Write-downs +€2,527
new in 2025: €2,527
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 | €192,660 | €176,937 | -€15,723 | -8.2% |
| Fixed assets | 21/28 | €11,620 | €5,437 | -€6,183 | -53.2% |
| Tangible fixed assets | 22/27 | €11,620 | €5,437 | -€6,183 | -53.2% |
| Furniture and vehicles | 24 | €11,620 | €5,437 | -€6,183 | -53.2% |
| Current assets | 29/58 | €181,040 | €171,500 | -€9,540 | -5.3% |
| Stocks and contracts in progress | 3 | €16,252 | - | -€16,252 | |
| Stocks | 30/36 | €16,252 | - | -€16,252 | |
| Amounts receivable within one year | 40/41 | €160,676 | €157,180 | -€3,496 | -2.2% |
| Trade receivables | 40 | €145,499 | €149,825 | +€4,326 | +3.0% |
| Other amounts receivable | 41 | €15,177 | €7,355 | -€7,822 | -51.5% |
| Cash at bank and in hand | 54/58 | €4,112 | €9,944 | +€5,832 | +141.8% |
| Deferred charges and accrued income | 490/1 | - | €4,377 | +€4,377 | |
| Total equity and liabilities | 10/49 | €192,660 | €176,937 | -€15,723 | -8.2% |
| Equity | 10/15 | €103,539 | €73,248 | -€30,290 | -29.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €197,467 | €197,467 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,619 | €3,619 | = | 0.0% |
| Distributable reserves | 133 | €193,848 | €193,848 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,520 | -€142,811 | -€30,290 | -26.9% |
| Amounts payable | 17/49 | €89,121 | €103,689 | +€14,568 | +16.3% |
| Amounts payable within one year | 42/48 | €88,581 | €103,089 | +€14,508 | +16.4% |
| Trade debts | 44 | €14,897 | €19,694 | +€4,797 | +32.2% |
| Suppliers | 440/4 | €14,897 | €19,694 | +€4,797 | +32.2% |
| Other amounts payable | 47/48 | €73,684 | €83,394 | +€9,710 | +13.2% |
| Accrued charges and deferred income | 492/3 | €540 | €600 | +€60 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,183 | €6,183 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,527 | +€2,527 | |
| Other operating charges | 640/8 | €3,282 | €3,152 | -€129 | -3.9% |
| Gross operating margin | 9900 | -€57,488 | -€18,548 | +€38,940 | +67.7% |
| Operating profit (loss) | 9901 | -€66,952 | -€30,409 | +€36,542 | +54.6% |
| Financial income | 75/76B | €105 | €317 | +€212 | +201.4% |
| Recurring financial income | 75 | €105 | €317 | +€212 | +201.4% |
| Financial charges | 65/66B | €306 | €198 | -€109 | -35.4% |
| Recurring financial charges | 65 | €306 | €198 | -€109 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€67,153 | -€30,290 | +€36,863 | +54.9% |
| Profit (loss) for the period | 9904 | -€67,153 | -€30,290 | +€36,863 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,153 | -€30,290 | +€36,863 | +54.9% |
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 30 September 2026 via checked.be.