ECTX: 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.
ECTX
Largest movements
- Current investments -€86,562
down €86,562 (-16.1%), from €539,324 to €452,762
- Receivables within one year +€32,600
up €32,600 (+55.2%), from €59,112 to €91,712
of which Trade receivables: +€33,467
- Cash -€27,126
down €27,126 (-56.8%), from €47,792 to €20,666
mainly Contributions, distributions and other (-€205,000) and Investment in fixed assets (net) (-€46,680)
- Tangible fixed assets +€8,263
up €8,263 (+7.2%), from €114,062 to €122,325
of which Furniture and vehicles: +€25,149
- Reserves -€104,611
down €104,611 (-15.1%), from €690,962 to €586,351
of which Distributable reserves: -€104,611
- Other debts +€18,275
new in 2025: €18,275
- Tax, wage and social debts +€15,379
up €15,379 (+31.1%), from €49,394 to €64,774
- Financial income +€20,531
up €20,531 (+36.0%), from €57,079 to €77,610
- Taxes +€16,090
up €16,090 (+50.1%), from €32,119 to €48,210
- Gross operating margin +€5,961
up €5,961 (+5.6%), from €106,414 to €112,375
- Depreciation +€1,728
up €1,728 (+4.7%), from €36,689 to €38,417
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 | €761,865 | €688,855 | -€73,011 | -9.6% |
| Fixed assets | 21/28 | €114,062 | €122,325 | +€8,263 | +7.2% |
| Tangible fixed assets | 22/27 | €114,062 | €122,325 | +€8,263 | +7.2% |
| Land and buildings | 22 | €35,137 | €30,415 | -€4,722 | -13.4% |
| Plant, machinery and equipment | 23 | €75,062 | €62,898 | -€12,164 | -16.2% |
| Furniture and vehicles | 24 | €3,863 | €29,012 | +€25,149 | +650.9% |
| Current assets | 29/58 | €647,803 | €566,529 | -€81,273 | -12.5% |
| Amounts receivable within one year | 40/41 | €59,112 | €91,712 | +€32,600 | +55.2% |
| Trade receivables | 40 | €57,706 | €91,173 | +€33,467 | +58.0% |
| Other amounts receivable | 41 | €1,406 | €539 | -€867 | -61.6% |
| Current investments | 50/53 | €539,324 | €452,762 | -€86,562 | -16.1% |
| Cash at bank and in hand | 54/58 | €47,792 | €20,666 | -€27,126 | -56.8% |
| Deferred charges and accrued income | 490/1 | €1,575 | €1,389 | -€186 | -11.8% |
| Total equity and liabilities | 10/49 | €761,865 | €688,855 | -€73,011 | -9.6% |
| Equity | 10/15 | €709,562 | €604,951 | -€104,611 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €690,962 | €586,351 | -€104,611 | -15.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €959 | €959 | = | 0.0% |
| Distributable reserves | 133 | €688,144 | €583,533 | -€104,611 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,303 | €83,903 | +€31,600 | +60.4% |
| Amounts payable within one year | 42/48 | €52,127 | €83,903 | +€31,777 | +61.0% |
| Trade debts | 44 | €2,732 | €855 | -€1,877 | -68.7% |
| Suppliers | 440/4 | €2,732 | €855 | -€1,877 | -68.7% |
| Taxes, remuneration and social security | 45 | €49,394 | €64,774 | +€15,379 | +31.1% |
| Taxes | 450/3 | €49,394 | €64,774 | +€15,379 | +31.1% |
| Other amounts payable | 47/48 | - | €18,275 | +€18,275 | |
| Accrued charges and deferred income | 492/3 | €176 | €0 | -€176 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,689 | €38,417 | +€1,728 | +4.7% |
| Other operating charges | 640/8 | €2,566 | €2,914 | +€348 | +13.6% |
| Gross operating margin | 9900 | €106,414 | €112,375 | +€5,961 | +5.6% |
| Operating profit (loss) | 9901 | €67,159 | €71,044 | +€3,885 | +5.8% |
| Financial income | 75/76B | €57,079 | €77,610 | +€20,531 | +36.0% |
| Recurring financial income | 75 | €57,079 | €77,610 | +€20,531 | +36.0% |
| Financial charges | 65/66B | €160 | €55 | -€105 | -65.7% |
| Recurring financial charges | 65 | €160 | €55 | -€105 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €124,079 | €148,599 | +€24,520 | +19.8% |
| Income taxes | 67/77 | €32,119 | €48,210 | +€16,090 | +50.1% |
| Profit (loss) for the period | 9904 | €91,959 | €100,389 | +€8,430 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €91,959 | €100,389 | +€8,430 | +9.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.