ED.COM: 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.
ED.COM
Largest movements
- Cash -€144,009
down €144,009 (-44.7%), from €322,027 to €178,017
mainly Debts after one year (-€78,819) and Receivables within one year (-€65,111)
- Receivables within one year +€65,111
up €65,111 (+10.0%), from €654,254 to €719,365
of which Trade receivables: +€77,049
- Stocks and contracts -€58,681
down €58,681 (-21.0%), from €278,969 to €220,288
- Tangible fixed assets -€24,535
down €24,535 (-14.5%), from €168,783 to €144,249
of which Other tangible fixed assets: -€21,081
- Deferred charges and accrued income +€18,168
up €18,168 (+54.8%), from €33,135 to €51,303
- Debts after one year -€78,819
down €78,819 (-60.5%), from €130,243 to €51,424
- Trade debts -€47,046
down €47,046 (-8.5%), from €555,326 to €508,280
- Short-term financial debts -€30,224
down €30,224 (-10.4%), from €289,948 to €259,725
- Profit (loss) carried forward +€21,366
up €21,366 (+13.3%), from €160,838 to €182,204
- Current portion of long-term debt -€18,826
down €18,826 (-26.0%), from €72,437 to €53,611
- Turnover -€3.8m
no longer reported in 2025 (was €3.8m)
- Purchases and services -€2.9m
no longer reported in 2025 (was €2.9m)
- Gross operating margin -€150,688
down €150,688 (-15.7%), from €959,669 to €808,981
- Staff costs -€72,120
down €72,120 (-10.4%), from €695,069 to €622,949
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 | €1,457,168 | €1,313,222 | -€143,946 | -9.9% |
| Fixed assets | 21/28 | €168,783 | €144,249 | -€24,535 | -14.5% |
| Tangible fixed assets | 22/27 | €168,783 | €144,249 | -€24,535 | -14.5% |
| Furniture and vehicles | 24 | €21,787 | €18,333 | -€3,454 | -15.9% |
| Other tangible fixed assets | 26 | €146,996 | €125,915 | -€21,081 | -14.3% |
| Current assets | 29/58 | €1,288,385 | €1,168,974 | -€119,411 | -9.3% |
| Stocks and contracts in progress | 3 | €278,969 | €220,288 | -€58,681 | -21.0% |
| Stocks | 30/36 | €278,969 | €220,288 | -€58,681 | -21.0% |
| Amounts receivable within one year | 40/41 | €654,254 | €719,365 | +€65,111 | +10.0% |
| Trade receivables | 40 | €404,357 | €481,406 | +€77,049 | +19.1% |
| Other amounts receivable | 41 | €249,897 | €237,960 | -€11,938 | -4.8% |
| Cash at bank and in hand | 54/58 | €322,027 | €178,017 | -€144,009 | -44.7% |
| Deferred charges and accrued income | 490/1 | €33,135 | €51,303 | +€18,168 | +54.8% |
| Total equity and liabilities | 10/49 | €1,457,168 | €1,313,222 | -€143,946 | -9.9% |
| Equity | 10/15 | €201,293 | €222,659 | +€21,366 | +10.6% |
| Contributions | 10/11 | €21,705 | €21,705 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €160,838 | €182,204 | +€21,366 | +13.3% |
| Amounts payable | 17/49 | €1,255,875 | €1,090,563 | -€165,312 | -13.2% |
| Amounts payable after more than one year | 17 | €130,243 | €51,424 | -€78,819 | -60.5% |
| Financial debts | 170/4 | €130,243 | €51,424 | -€78,819 | -60.5% |
| Amounts payable within one year | 42/48 | €1,125,632 | €1,039,139 | -€86,492 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €72,437 | €53,611 | -€18,826 | -26.0% |
| Financial debts | 43 | €289,948 | €259,725 | -€30,224 | -10.4% |
| Credit institutions | 430/8 | €289,948 | €259,725 | -€30,224 | -10.4% |
| Trade debts | 44 | €555,326 | €508,280 | -€47,046 | -8.5% |
| Suppliers | 440/4 | €555,326 | €508,280 | -€47,046 | -8.5% |
| Taxes, remuneration and social security | 45 | €157,920 | €167,523 | +€9,603 | +6.1% |
| Taxes | 450/3 | €51,573 | €83,519 | +€31,947 | +61.9% |
| Remuneration and social security | 454/9 | €106,348 | €84,004 | -€22,344 | -21.0% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Turnover | 70 | €3,814,447 | - | -€3.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,877,974 | - | -€2.9m | |
| Remuneration, social security and pensions | 62 | €695,069 | €622,949 | -€72,120 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,905 | €27,482 | +€3,577 | +15.0% |
| Other operating charges | 640/8 | €15,898 | €15,339 | -€560 | -3.5% |
| Non-recurring operating charges | 66A | €317 | - | -€317 | |
| Gross operating margin | 9900 | €959,669 | €808,981 | -€150,688 | -15.7% |
| Operating profit (loss) | 9901 | €224,480 | €143,212 | -€81,268 | -36.2% |
| Financial charges | 65/66B | €36,068 | €24,746 | -€11,322 | -31.4% |
| Recurring financial charges | 65 | €36,068 | €24,746 | -€11,322 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €188,412 | €118,466 | -€69,946 | -37.1% |
| Income taxes | 67/77 | €48,710 | €47,100 | -€1,610 | -3.3% |
| Profit (loss) for the period | 9904 | €139,702 | €71,366 | -€68,336 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €139,702 | €71,366 | -€68,336 | -48.9% |
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 2 October 2026 via checked.be.