ED&VW: what changed
ED&VW
Largest movements
- Cash +€45,685
up €45,685 (+45.5%), from €100,423 to €146,108
mainly Net result for the year (+€86,373) and Depreciation (+€40,991)
- Receivables within one year +€35,679
up €35,679 (+253%), from €14,105 to €49,784
of which Trade receivables: +€35,679
- Tangible fixed assets -€21,933
down €21,933 (-19.9%), from €110,125 to €88,191
of which Furniture and vehicles: -€21,520
- Intangible fixed assets -€12,250
down €12,250 (-35.4%), from €34,642 to €22,392
- Reserves +€86,373
up €86,373 (+23.3%), from €370,374 to €456,748
- Tax, wage and social debts -€27,085
down €27,085 (-60.7%), from €44,600 to €17,515
- Other debts -€8,175
down €8,175 (-23.1%), from €35,446 to €27,270
- Gross operating margin -€53,058
down €53,058 (-24.2%), from €219,434 to €166,376
- Taxes -€18,984
down €18,984 (-31.2%), from €60,877 to €41,893
- Depreciation +€5,177
up €5,177 (+14.5%), from €35,814 to €40,991
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 | €460,961 | €511,619 | +€50,658 | +11.0% |
| Fixed assets | 21/28 | €144,767 | €110,584 | -€34,183 | -23.6% |
| Intangible fixed assets | 21 | €34,642 | €22,392 | -€12,250 | -35.4% |
| Tangible fixed assets | 22/27 | €110,125 | €88,191 | -€21,933 | -19.9% |
| Plant, machinery and equipment | 23 | €3,468 | €3,055 | -€413 | -11.9% |
| Furniture and vehicles | 24 | €106,657 | €85,137 | -€21,520 | -20.2% |
| Current assets | 29/58 | €316,194 | €401,035 | +€84,841 | +26.8% |
| Amounts receivable within one year | 40/41 | €14,105 | €49,784 | +€35,679 | +253% |
| Trade receivables | 40 | €4,063 | €39,742 | +€35,679 | +878% |
| Other amounts receivable | 41 | €10,042 | €10,042 | = | 0.0% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €100,423 | €146,108 | +€45,685 | +45.5% |
| Deferred charges and accrued income | 490/1 | €1,666 | €5,143 | +€3,477 | +209% |
| Total equity and liabilities | 10/49 | €460,961 | €511,619 | +€50,658 | +11.0% |
| Equity | 10/15 | €380,374 | €466,748 | +€86,373 | +22.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €370,374 | €456,748 | +€86,373 | +23.3% |
| Distributable reserves | 133 | €370,374 | €456,748 | +€86,373 | +23.3% |
| Amounts payable | 17/49 | €80,587 | €44,871 | -€35,715 | -44.3% |
| Amounts payable within one year | 42/48 | €80,507 | €44,871 | -€35,635 | -44.3% |
| Trade debts | 44 | €461 | €85 | -€375 | -81.4% |
| Suppliers | 440/4 | €461 | €85 | -€375 | -81.4% |
| Taxes, remuneration and social security | 45 | €44,600 | €17,515 | -€27,085 | -60.7% |
| Taxes | 450/3 | €44,600 | €17,515 | -€27,085 | -60.7% |
| Other amounts payable | 47/48 | €35,446 | €27,270 | -€8,175 | -23.1% |
| Accrued charges and deferred income | 492/3 | €80 | €0 | -€80 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,814 | €40,991 | +€5,177 | +14.5% |
| Other operating charges | 640/8 | €887 | €956 | +€69 | +7.8% |
| Gross operating margin | 9900 | €219,434 | €166,376 | -€53,058 | -24.2% |
| Operating profit (loss) | 9901 | €182,733 | €124,429 | -€58,304 | -31.9% |
| Financial income | 75/76B | €3,072 | €3,949 | +€877 | +28.6% |
| Recurring financial income | 75 | €3,072 | €3,949 | +€877 | +28.6% |
| Financial charges | 65/66B | €96 | €112 | +€17 | +17.3% |
| Recurring financial charges | 65 | €96 | €112 | +€17 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €185,710 | €128,267 | -€57,443 | -30.9% |
| Income taxes | 67/77 | €60,877 | €41,893 | -€18,984 | -31.2% |
| Profit (loss) for the period | 9904 | €124,833 | €86,373 | -€38,459 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €124,833 | €86,373 | -€38,459 | -30.8% |
Next steps
Calculation and sources
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 2 November 2026 via checked.be.