ED SERVICE: 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 SERVICE
Largest movements
- Financial fixed assets +€141,250
new in 2025: €141,250
- Deferred charges and accrued income +€15,980
up €15,980 (+2305.9%), from €693 to €16,673
- Tangible fixed assets -€12,584
down €12,584 (-25.8%), from €48,734 to €36,150
of which Furniture and vehicles: -€9,312
- Cash -€12,145
down €12,145 (-14.7%), from €82,852 to €70,707
mainly Investment in fixed assets (net) (-€141,250) and Tax, wage and social debts (-€16,788)
- Receivables within one year +€11,338
up €11,338 (+59.0%), from €19,228 to €30,566
of which Trade receivables: +€9,899
- Debts after one year +€73,294
up €73,294 (+293.2%), from €25,000 to €98,294
of which Financial debts: +€73,294
- Trade debts +€34,801
up €34,801 (+140.7%), from €24,735 to €59,536
- Reserves +€30,118
up €30,118 (+50.9%), from €59,153 to €89,271
- Current portion of long-term debt +€18,972
new in 2025: €18,972
- Tax, wage and social debts -€16,788
down €16,788 (-89.3%), from €18,800 to €2,011
of which Taxes: -€14,947
- Gross operating margin -€39,197
down €39,197 (-42.5%), from €92,248 to €53,052
- Taxes -€7,380
down €7,380 (-49.4%), from €14,940 to €7,561
- Depreciation -€1,602
down €1,602 (-11.3%), from €14,186 to €12,584
- Other operating charges -€1,023
down €1,023 (-50.0%), from €2,046 to €1,022
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 | €175,506 | €319,345 | +€143,839 | +82.0% |
| Fixed assets | 21/28 | €48,734 | €177,400 | +€128,666 | +264.0% |
| Tangible fixed assets | 22/27 | €48,734 | €36,150 | -€12,584 | -25.8% |
| Land and buildings | 22 | €2,357 | €1,829 | -€527 | -22.4% |
| Plant, machinery and equipment | 23 | €11,361 | €8,617 | -€2,744 | -24.2% |
| Furniture and vehicles | 24 | €35,016 | €25,703 | -€9,312 | -26.6% |
| Financial fixed assets | 28 | - | €141,250 | +€141,250 | |
| Current assets | 29/58 | €126,773 | €141,946 | +€15,173 | +12.0% |
| Stocks and contracts in progress | 3 | €24,000 | €24,000 | = | 0.0% |
| Stocks | 30/36 | €24,000 | €24,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,228 | €30,566 | +€11,338 | +59.0% |
| Trade receivables | 40 | €18,849 | €28,748 | +€9,899 | +52.5% |
| Other amounts receivable | 41 | €379 | €1,818 | +€1,439 | +379.9% |
| Cash at bank and in hand | 54/58 | €82,852 | €70,707 | -€12,145 | -14.7% |
| Deferred charges and accrued income | 490/1 | €693 | €16,673 | +€15,980 | +2305.9% |
| Total equity and liabilities | 10/49 | €175,506 | €319,345 | +€143,839 | +82.0% |
| Equity | 10/15 | €69,153 | €99,271 | +€30,118 | +43.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €59,153 | €89,271 | +€30,118 | +50.9% |
| Distributable reserves | 133 | €59,153 | €89,271 | +€30,118 | +50.9% |
| Amounts payable | 17/49 | €106,353 | €220,074 | +€113,721 | +106.9% |
| Amounts payable after more than one year | 17 | €25,000 | €98,294 | +€73,294 | +293.2% |
| Financial debts | 170/4 | - | €73,294 | +€73,294 | |
| Other amounts payable | 178/9 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,534 | €107,093 | +€39,559 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | - | €18,972 | +€18,972 | |
| Trade debts | 44 | €24,735 | €59,536 | +€34,801 | +140.7% |
| Suppliers | 440/4 | €24,735 | €59,536 | +€34,801 | +140.7% |
| Taxes, remuneration and social security | 45 | €18,800 | €2,011 | -€16,788 | -89.3% |
| Taxes | 450/3 | €16,959 | €2,011 | -€14,947 | -88.1% |
| Remuneration and social security | 454/9 | €1,841 | €0 | -€1,841 | -100.0% |
| Other amounts payable | 47/48 | €24,000 | €26,573 | +€2,573 | +10.7% |
| Accrued charges and deferred income | 492/3 | €13,819 | €14,688 | +€869 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,186 | €12,584 | -€1,602 | -11.3% |
| Other operating charges | 640/8 | €2,046 | €1,022 | -€1,023 | -50.0% |
| Gross operating margin | 9900 | €92,248 | €53,052 | -€39,197 | -42.5% |
| Operating profit (loss) | 9901 | €76,017 | €39,445 | -€36,572 | -48.1% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,924 | €1,776 | -€148 | -7.7% |
| Recurring financial charges | 65 | €1,924 | €1,776 | -€148 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €74,093 | €37,679 | -€36,414 | -49.1% |
| Income taxes | 67/77 | €14,940 | €7,561 | -€7,380 | -49.4% |
| Profit (loss) for the period | 9904 | €59,153 | €30,118 | -€29,035 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,153 | €30,118 | -€29,035 | -49.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.