ED CONCEPT: 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.
ED CONCEPT
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets -€110,794
down €110,794 (-87.9%), from €126,022 to €15,229
of which Land and buildings: -€111,862
- Receivables within one year -€29,206
down €29,206 (-68.6%), from €42,564 to €13,358
of which Other amounts receivable: -€30,667
- Financial fixed assets -€6,200
down €6,200 (-100.0%), from €6,200 to €0
- Cash +€5,271
up €5,271 (+225.8%), from €2,335 to €7,605
mainly Net result for the year (+€303,405) and Investment in fixed assets (net) (+€115,437)
- Profit (loss) carried forward +€203,405
up €203,405, from -€81,322 to €122,084
- Reserves +€100,000
new in 2025: €100,000
- Other debts -€43,276
down €43,276 (-38.3%), from €113,027 to €69,751
- Trade debts -€14,284
down €14,284 (-58.1%), from €24,597 to €10,313
- Tax, wage and social debts +€13,011
up €13,011 (+101.4%), from €12,836 to €25,847
- Gross operating margin +€443,466
up €443,466 (+1231.0%), from €36,026 to €479,492
- Taxes +€125,114
up €125,114 (+16942.7%), from €738 to €125,852
- Financial charges +€6,249
up €6,249 (+755.2%), from €827 to €7,077
of which Non-recurring financial charges: +€6,200
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 | €178,317 | €437,372 | +€259,055 | +145.3% |
| Fixed assets | 21/28 | €132,222 | €15,229 | -€116,994 | -88.5% |
| Tangible fixed assets | 22/27 | €126,022 | €15,229 | -€110,794 | -87.9% |
| Land and buildings | 22 | €111,862 | €0 | -€111,862 | -100.0% |
| Plant, machinery and equipment | 23 | €124 | €0 | -€124 | -100.0% |
| Furniture and vehicles | 24 | €3,002 | €4,195 | +€1,193 | +39.7% |
| Other tangible fixed assets | 26 | €11,034 | €11,034 | = | 0.0% |
| Financial fixed assets | 28 | €6,200 | €0 | -€6,200 | -100.0% |
| Current assets | 29/58 | €46,095 | €422,143 | +€376,048 | +815.8% |
| Amounts receivable within one year | 40/41 | €42,564 | €13,358 | -€29,206 | -68.6% |
| Trade receivables | 40 | €9,575 | €11,036 | +€1,461 | +15.3% |
| Other amounts receivable | 41 | €32,989 | €2,322 | -€30,667 | -93.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €2,335 | €7,605 | +€5,271 | +225.8% |
| Deferred charges and accrued income | 490/1 | €1,196 | €1,180 | -€16 | -1.3% |
| Total equity and liabilities | 10/49 | €178,317 | €437,372 | +€259,055 | +145.3% |
| Equity | 10/15 | -€62,572 | €240,834 | +€303,405 | |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | - | €100,000 | +€100,000 | |
| Distributable reserves | 133 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | -€81,322 | €122,084 | +€203,405 | |
| Amounts payable | 17/49 | €240,889 | €196,538 | -€44,351 | -18.4% |
| Amounts payable after more than one year | 17 | €90,429 | €90,628 | +€199 | +0.2% |
| Financial debts | 170/4 | €90,429 | €90,628 | +€199 | +0.2% |
| Amounts payable within one year | 42/48 | €150,460 | €105,910 | -€44,549 | -29.6% |
| Trade debts | 44 | €24,597 | €10,313 | -€14,284 | -58.1% |
| Suppliers | 440/4 | €24,597 | €10,313 | -€14,284 | -58.1% |
| Taxes, remuneration and social security | 45 | €12,836 | €25,847 | +€13,011 | +101.4% |
| Taxes | 450/3 | €12,836 | €25,847 | +€13,011 | +101.4% |
| Other amounts payable | 47/48 | €113,027 | €69,751 | -€43,276 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,629 | €1,557 | -€72 | -4.4% |
| Other operating charges | 640/8 | €7,383 | €7,476 | +€93 | +1.3% |
| Non-recurring operating charges | 66A | - | €34,500 | +€34,500 | |
| Gross operating margin | 9900 | €36,026 | €479,492 | +€443,466 | +1231.0% |
| Operating profit (loss) | 9901 | €27,014 | €435,959 | +€408,945 | +1513.8% |
| Financial income | 75/76B | €1 | €375 | +€375 | +41153.8% |
| Recurring financial income | 75 | €1 | €375 | +€375 | +41153.8% |
| Financial charges | 65/66B | €827 | €7,077 | +€6,249 | +755.2% |
| Recurring financial charges | 65 | €827 | €877 | +€49 | +6.0% |
| Non-recurring financial charges | 66B | - | €6,200 | +€6,200 | |
| Profit (loss) for the period before taxes | 9903 | €26,187 | €429,257 | +€403,070 | +1539.2% |
| Income taxes | 67/77 | €738 | €125,852 | +€125,114 | +16942.7% |
| Profit (loss) for the period | 9904 | €25,449 | €303,405 | +€277,956 | +1092.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,449 | €303,405 | +€277,956 | +1092.2% |
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.