ECV Invest: 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.
ECV Invest
Largest movements
- Cash -€238,440
down €238,440 (-42.4%), from €562,291 to €323,852
mainly Other debts (-€253,471) and Current investments (-€212,352)
- Current investments +€212,352
up €212,352 (+28.7%), from €739,183 to €951,535
- Reserves +€264,921
up €264,921 (+15.7%), from €1.7m to €1.9m
- Other debts -€253,471
down €253,471 (-65.7%), from €385,685 to €132,213
- Financial income +€188,942
up €188,942 (+614%), from €30,795 to €219,737
- Gross operating margin -€38,985
down €38,985 (-19.7%), from €197,519 to €158,534
- Depreciation +€8,668
up €8,668 (+28.5%), from €30,386 to €39,054
- Taxes +€3,751
up €3,751 (+6.6%), from €56,534 to €60,285
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.
Derived cash bridge
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 | €3,149,209 | €3,147,834 | -€1,376 | 0.0% |
| Fixed assets | 21/28 | €1,823,860 | €1,846,156 | +€22,296 | +1.2% |
| Tangible fixed assets | 22/27 | €452,542 | €475,088 | +€22,546 | +5.0% |
| Land and buildings | 22 | €437,417 | €470,378 | +€32,961 | +7.5% |
| Furniture and vehicles | 24 | €15,125 | €4,710 | -€10,415 | -68.9% |
| Financial fixed assets | 28 | €1,371,318 | €1,371,068 | -€250 | 0.0% |
| Current assets | 29/58 | €1,325,349 | €1,301,678 | -€23,672 | -1.8% |
| Amounts receivable within one year | 40/41 | €19,345 | €23,285 | +€3,940 | +20.4% |
| Trade receivables | 40 | €16,672 | €17,198 | +€526 | +3.2% |
| Other amounts receivable | 41 | €2,673 | €6,087 | +€3,414 | +128% |
| Current investments | 50/53 | €739,183 | €951,535 | +€212,352 | +28.7% |
| Cash at bank and in hand | 54/58 | €562,291 | €323,852 | -€238,440 | -42.4% |
| Deferred charges and accrued income | 490/1 | €4,530 | €3,006 | -€1,524 | -33.6% |
| Total equity and liabilities | 10/49 | €3,149,209 | €3,147,834 | -€1,376 | 0.0% |
| Equity | 10/15 | €2,727,369 | €2,992,290 | +€264,921 | +9.7% |
| Contributions | 10/11 | €980,000 | €980,000 | = | 0.0% |
| Reserves | 13 | €1,683,615 | €1,948,537 | +€264,921 | +15.7% |
| Distributable reserves | 133 | €1,683,615 | €1,948,537 | +€264,921 | +15.7% |
| Profit (loss) carried forward | 14 | €63,754 | €63,754 | = | 0.0% |
| Amounts payable | 17/49 | €421,840 | €155,543 | -€266,297 | -63.1% |
| Amounts payable within one year | 42/48 | €411,399 | €144,031 | -€267,368 | -65.0% |
| Trade debts | 44 | €2,355 | €2,482 | +€126 | +5.4% |
| Suppliers | 440/4 | €2,355 | €2,482 | +€126 | +5.4% |
| Taxes, remuneration and social security | 45 | €23,359 | €9,336 | -€14,023 | -60.0% |
| Taxes | 450/3 | €23,359 | €9,336 | -€14,023 | -60.0% |
| Other amounts payable | 47/48 | €385,685 | €132,213 | -€253,471 | -65.7% |
| Accrued charges and deferred income | 492/3 | €10,441 | €11,512 | +€1,071 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,386 | €39,054 | +€8,668 | +28.5% |
| Other operating charges | 640/8 | €4,571 | €4,598 | +€26 | +0.6% |
| Gross operating margin | 9900 | €197,519 | €158,534 | -€38,985 | -19.7% |
| Operating profit (loss) | 9901 | €162,562 | €114,882 | -€47,680 | -29.3% |
| Financial income | 75/76B | €30,795 | €219,737 | +€188,942 | +614% |
| Recurring financial income | 75 | €30,795 | €219,737 | +€188,942 | +614% |
| Financial charges | 65/66B | €7,586 | €9,412 | +€1,826 | +24.1% |
| Recurring financial charges | 65 | €7,586 | €9,412 | +€1,826 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €185,771 | €325,207 | +€139,436 | +75.1% |
| Income taxes | 67/77 | €56,534 | €60,285 | +€3,751 | +6.6% |
| Profit (loss) for the period | 9904 | €129,236 | €264,921 | +€135,685 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €129,236 | €264,921 | +€135,685 | +105% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.