Ed. Proj. Epsilon: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Ed. Proj. Epsilon
Largest movements
- Tangible fixed assets -€1.3m
down €1.3m (-13.9%), from €9.2m to €8.0m
of which Leasing and similar rights: -€1.2m
- Cash +€409,253
up €409,253 (+55.3%), from €740,560 to €1.1m
mainly Depreciation (+€1.8m) and Other debts (+€588,443)
- Intangible fixed assets -€341,142
down €341,142 (-12.8%), from €2.7m to €2.3m
- Receivables within one year -€301,181
down €301,181 (-63.0%), from €478,002 to €176,821
of which Trade receivables: -€211,424
- Debts after one year -€1.9m
down €1.9m (-80.2%), from €2.3m to €462,674
- Other debts +€588,443
up €588,443 (+13.3%), from €4.4m to €5.0m
- Current portion of long-term debt +€162,895
up €162,895 (+9.5%), from €1.7m to €1.9m
- Tax, wage and social debts -€147,863
down €147,863 (-86.4%), from €171,144 to €23,281
- Trade debts -€145,778
down €145,778 (-14.3%), from €1.0m to €873,943
- Turnover +€407,977
up €407,977 (+14.1%), from €2.9m to €3.3m
- Gross operating margin +€237,855
up €237,855 (+11.5%), from €2.1m to €2.3m
- Taxes +€203,631
new in 2025: €203,631
- Financial charges -€78,123
down €78,123 (-16.2%), from €481,144 to €403,022
- Purchases and services +€56,521
up €56,521 (+6.0%), from €934,899 to €991,419
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,122,059 | €11,602,680 | -€1.5m | -11.6% |
| Fixed assets | 21/28 | €11,903,497 | €10,276,046 | -€1.6m | -13.7% |
| Intangible fixed assets | 21 | €2,663,228 | €2,322,086 | -€341,142 | -12.8% |
| Tangible fixed assets | 22/27 | €9,240,269 | €7,953,959 | -€1.3m | -13.9% |
| Plant, machinery and equipment | 23 | €680,620 | €567,105 | -€113,516 | -16.7% |
| Leasing and similar rights | 25 | €8,559,649 | €7,386,855 | -€1.2m | -13.7% |
| Current assets | 29/58 | €1,218,562 | €1,326,634 | +€108,072 | +8.9% |
| Amounts receivable within one year | 40/41 | €478,002 | €176,821 | -€301,181 | -63.0% |
| Trade receivables | 40 | €325,361 | €113,937 | -€211,424 | -65.0% |
| Other amounts receivable | 41 | €152,641 | €62,884 | -€89,757 | -58.8% |
| Cash at bank and in hand | 54/58 | €740,560 | €1,149,813 | +€409,253 | +55.3% |
| Total equity and liabilities | 10/49 | €13,122,059 | €11,602,680 | -€1.5m | -11.6% |
| Equity | 10/15 | €3,125,016 | €3,054,268 | -€70,749 | -2.3% |
| Contributions | 10/11 | €1,628,000 | €1,628,000 | = | 0.0% |
| Capital | 10 | €1,628,000 | €1,628,000 | = | 0.0% |
| Issued capital | 100 | €1,628,000 | €1,628,000 | = | 0.0% |
| Revaluation surpluses | 12 | €654,902 | €545,752 | -€109,150 | -16.7% |
| Reserves | 13 | €926,981 | €1,036,131 | +€109,150 | +11.8% |
| Non-distributable reserves | 130/1 | €162,800 | €162,800 | = | 0.0% |
| Legal reserve | 130 | €162,800 | €162,800 | = | 0.0% |
| Distributable reserves | 133 | €764,181 | €873,331 | +€109,150 | +14.3% |
| Profit (loss) carried forward | 14 | -€84,867 | -€155,615 | -€70,749 | -83.4% |
| Provisions and deferred taxes | 16 | €281,379 | €281,379 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €281,379 | €281,379 | = | 0.0% |
| Major repairs and maintenance | 162 | €281,379 | €281,379 | = | 0.0% |
| Amounts payable | 17/49 | €9,715,664 | €8,267,034 | -€1.4m | -14.9% |
| Amounts payable after more than one year | 17 | €2,333,534 | €462,674 | -€1.9m | -80.2% |
| Financial debts | 170/4 | €2,333,534 | €462,674 | -€1.9m | -80.2% |
| Amounts payable within one year | 42/48 | €7,334,548 | €7,792,245 | +€457,697 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €1,707,964 | €1,870,860 | +€162,895 | +9.5% |
| Trade debts | 44 | €1,019,721 | €873,943 | -€145,778 | -14.3% |
| Suppliers | 440/4 | €1,019,721 | €873,943 | -€145,778 | -14.3% |
| Taxes, remuneration and social security | 45 | €171,144 | €23,281 | -€147,863 | -86.4% |
| Taxes | 450/3 | €171,144 | €23,281 | -€147,863 | -86.4% |
| Other amounts payable | 47/48 | €4,435,718 | €5,024,161 | +€588,443 | +13.3% |
| Accrued charges and deferred income | 492/3 | €47,582 | €12,114 | -€35,468 | -74.5% |
| Turnover | 70 | €2,889,122 | €3,297,099 | +€407,977 | +14.1% |
| Non-recurring operating income | 76A | - | €86 | +€86 | |
| Goods, raw materials, services and sundry goods | 60/61 | €934,899 | €991,419 | +€56,521 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,739,611 | €1,761,657 | +€22,047 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€44,954 | - | +€44,954 | |
| Other operating charges | 640/8 | €46,012 | €1,060 | -€44,951 | -97.7% |
| Non-recurring operating charges | 66A | - | €7,154 | +€7,154 | |
| Gross operating margin | 9900 | €2,067,910 | €2,305,766 | +€237,855 | +11.5% |
| Operating profit (loss) | 9901 | €327,242 | €535,893 | +€208,652 | +63.8% |
| Financial income | 75/76B | €12,075 | €10 | -€12,065 | -99.9% |
| Recurring financial income | 75 | €12,075 | €10 | -€12,065 | -99.9% |
| Financial charges | 65/66B | €481,144 | €403,022 | -€78,123 | -16.2% |
| Recurring financial charges | 65 | €481,144 | €403,022 | -€78,123 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€141,828 | €132,882 | +€274,710 | |
| Income taxes | 67/77 | - | €203,631 | +€203,631 | |
| Profit (loss) for the period | 9904 | -€141,828 | -€70,749 | +€71,079 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€141,828 | -€70,749 | +€71,079 | +50.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.