ECVM 2010: 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.
ECVM 2010
Largest movements
- Cash -€577,179
down €577,179 (-47.5%), from €1.2m to €638,138
mainly Net result for the year (-€588,072) and Receivables within one year (-€53,811)
- Receivables within one year +€53,811
up €53,811 (+34.2%), from €157,142 to €210,954
of which Trade receivables: +€42,613
- Profit (loss) carried forward -€537,072
down €537,072 (-40.1%), from €1.3m to €803,432
- Trade debts +€61,209
up €61,209 (+527.7%), from €11,599 to €72,809
- Reserves -€51,000
down €51,000 (-44.2%), from €115,337 to €64,337
- Gross operating margin -€877,451
down €877,451, from €309,150 to -€568,301
- Financial income -€11,783
down €11,783 (-54.4%), from €21,661 to €9,878
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 | €1,484,251 | €957,388 | -€526,863 | -35.5% |
| Fixed assets | 21/28 | €111,789 | €108,294 | -€3,495 | -3.1% |
| Tangible fixed assets | 22/27 | €111,789 | €108,294 | -€3,495 | -3.1% |
| Furniture and vehicles | 24 | €111,789 | €108,294 | -€3,495 | -3.1% |
| Current assets | 29/58 | €1,372,461 | €849,094 | -€523,368 | -38.1% |
| Amounts receivable within one year | 40/41 | €157,142 | €210,954 | +€53,811 | +34.2% |
| Trade receivables | 40 | - | €42,613 | +€42,613 | |
| Other amounts receivable | 41 | €157,142 | €168,340 | +€11,198 | +7.1% |
| Current investments | 50/53 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,215,317 | €638,138 | -€577,179 | -47.5% |
| Total equity and liabilities | 10/49 | €1,484,251 | €957,388 | -€526,863 | -35.5% |
| Equity | 10/15 | €1,472,592 | €884,520 | -€588,072 | -39.9% |
| Contributions | 10/11 | €16,752 | €16,752 | = | 0.0% |
| Capital | 10 | €16,752 | €16,752 | = | 0.0% |
| Reserves | 13 | €115,337 | €64,337 | -€51,000 | -44.2% |
| Profit (loss) carried forward | 14 | €1,340,504 | €803,432 | -€537,072 | -40.1% |
| Amounts payable | 17/49 | €11,658 | €72,868 | +€61,209 | +525.0% |
| Amounts payable within one year | 42/48 | €11,599 | €72,809 | +€61,209 | +527.7% |
| Trade debts | 44 | €11,599 | €72,809 | +€61,209 | +527.7% |
| Suppliers | 440/4 | €11,599 | €72,809 | +€61,209 | +527.7% |
| Accrued charges and deferred income | 492/3 | €59 | €59 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,822 | €29,436 | +€3,614 | +14.0% |
| Gross operating margin | 9900 | €309,150 | -€568,301 | -€877,451 | |
| Operating profit (loss) | 9901 | €283,328 | -€597,737 | -€881,065 | |
| Financial income | 75/76B | €21,661 | €9,878 | -€11,783 | -54.4% |
| Recurring financial income | 75 | €21,661 | €9,878 | -€11,783 | -54.4% |
| Financial charges | 65/66B | €193 | €213 | +€20 | +10.2% |
| Recurring financial charges | 65 | €193 | €213 | +€20 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €304,795 | -€588,072 | -€892,867 | |
| Profit (loss) for the period | 9904 | €304,795 | -€588,072 | -€892,867 | |
| Profit (loss) for the period to be appropriated | 9905 | €304,795 | -€588,072 | -€892,867 |
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 6 October 2026 via checked.be.