ECU23: 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.
ECU23
Largest movements
- Cash -€66,684
down €66,684 (-25.1%), from €265,687 to €199,003
mainly Investment in fixed assets (net) (-€70,611) and Debts after one year (-€34,857)
- Receivables within one year +€13,401
up €13,401 (+15.5%), from €86,432 to €99,834
of which Other amounts receivable: +€11,291
- Tangible fixed assets +€10,928
up €10,928 (+6.9%), from €158,400 to €169,328
of which Furniture and vehicles: +€16,312
- Debts after one year -€34,857
down €34,857 (-37.6%), from €92,767 to €57,910
- Current portion of long-term debt +€30,833
up €30,833 (+139.1%), from €22,173 to €53,006
- Other debts -€24,200
down €24,200 (-48.4%), from €50,000 to €25,800
- Reserves +€22,638
up €22,638 (+29.3%), from €77,202 to €99,840
- Tax, wage and social debts -€22,334
down €22,334 (-35.9%), from €62,165 to €39,830
of which Taxes: -€34,059
- Gross operating margin -€58,462
down €58,462 (-11.1%), from €524,630 to €466,167
- Staff costs +€55,887
up €55,887 (+19.2%), from €291,822 to €347,709
- Taxes -€18,038
down €18,038 (-53.4%), from €33,801 to €15,762
- Depreciation +€12,890
up €12,890 (+27.5%), from €46,793 to €59,683
- Other operating charges -€9,037
down €9,037 (-43.8%), from €20,643 to €11,605
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 | €591,079 | €545,946 | -€45,133 | -7.6% |
| Fixed assets | 21/28 | €158,400 | €169,328 | +€10,928 | +6.9% |
| Tangible fixed assets | 22/27 | €158,400 | €169,328 | +€10,928 | +6.9% |
| Plant, machinery and equipment | 23 | €67,523 | €79,020 | +€11,497 | +17.0% |
| Furniture and vehicles | 24 | €18,394 | €34,706 | +€16,312 | +88.7% |
| Leasing and similar rights | 25 | €41,695 | €33,397 | -€8,298 | -19.9% |
| Other tangible fixed assets | 26 | €30,789 | €22,206 | -€8,582 | -27.9% |
| Current assets | 29/58 | €432,680 | €376,618 | -€56,061 | -13.0% |
| Stocks and contracts in progress | 3 | €79,165 | €77,515 | -€1,650 | -2.1% |
| Stocks | 30/36 | €79,165 | €77,515 | -€1,650 | -2.1% |
| Amounts receivable within one year | 40/41 | €86,432 | €99,834 | +€13,401 | +15.5% |
| Trade receivables | 40 | €44,461 | €46,572 | +€2,110 | +4.7% |
| Other amounts receivable | 41 | €41,971 | €53,262 | +€11,291 | +26.9% |
| Cash at bank and in hand | 54/58 | €265,687 | €199,003 | -€66,684 | -25.1% |
| Deferred charges and accrued income | 490/1 | €1,395 | €266 | -€1,129 | -80.9% |
| Total equity and liabilities | 10/49 | €591,079 | €545,946 | -€45,133 | -7.6% |
| Equity | 10/15 | €125,271 | €149,840 | +€24,570 | +19.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €77,202 | €99,840 | +€22,638 | +29.3% |
| Distributable reserves | 133 | €77,202 | €99,840 | +€22,638 | +29.3% |
| Profit (loss) carried forward | 14 | -€1,932 | - | +€1,932 | |
| Amounts payable | 17/49 | €465,809 | €396,106 | -€69,703 | -15.0% |
| Amounts payable after more than one year | 17 | €92,767 | €57,910 | -€34,857 | -37.6% |
| Financial debts | 170/4 | €92,767 | €57,910 | -€34,857 | -37.6% |
| Amounts payable within one year | 42/48 | €373,042 | €338,196 | -€34,846 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €22,173 | €53,006 | +€30,833 | +139.1% |
| Trade debts | 44 | €238,704 | €219,560 | -€19,145 | -8.0% |
| Suppliers | 440/4 | €238,704 | €219,560 | -€19,145 | -8.0% |
| Taxes, remuneration and social security | 45 | €62,165 | €39,830 | -€22,334 | -35.9% |
| Taxes | 450/3 | €34,059 | - | -€34,059 | |
| Remuneration and social security | 454/9 | €28,106 | €39,830 | +€11,724 | +41.7% |
| Other amounts payable | 47/48 | €50,000 | €25,800 | -€24,200 | -48.4% |
| Non-recurring operating income | 76A | €3,390 | - | -€3,390 | |
| Remuneration, social security and pensions | 62 | €291,822 | €347,709 | +€55,887 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,793 | €59,683 | +€12,890 | +27.5% |
| Other operating charges | 640/8 | €20,643 | €11,605 | -€9,037 | -43.8% |
| Gross operating margin | 9900 | €524,630 | €466,167 | -€58,462 | -11.1% |
| Operating profit (loss) | 9901 | €165,371 | €47,170 | -€118,201 | -71.5% |
| Financial income | 75/76B | €0 | €20 | +€20 | +200600.0% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +200600.0% |
| Financial charges | 65/66B | €4,368 | €6,858 | +€2,490 | +57.0% |
| Recurring financial charges | 65 | €4,368 | €6,858 | +€2,490 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | €161,003 | €40,332 | -€120,671 | -74.9% |
| Income taxes | 67/77 | €33,801 | €15,762 | -€18,038 | -53.4% |
| Profit (loss) for the period | 9904 | €127,202 | €24,570 | -€102,633 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €127,202 | €24,570 | -€102,633 | -80.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.