Ed Worx: 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 Worx
Largest movements
- Cash -€40,540
down €40,540 (-93.4%), from €43,408 to €2,868
mainly Net result for the year (-€131,760) and Tax, wage and social debts (-€11,136)
- Receivables within one year -€36,833
down €36,833 (-39.5%), from €93,149 to €56,316
of which Trade receivables: -€54,190
- Receivables after one year -€30,000
down €30,000 (-100%), from €30,000 to €0
- Stocks and contracts -€10,419
down €10,419 (-80.6%), from €12,919 to €2,500
- Tangible fixed assets -€5,612
down €5,612 (-18.5%), from €30,393 to €24,782
- Profit (loss) carried forward -€101,074
new in 2025: -€101,074
- Provisions +€35,000
new in 2025: €35,000
- Reserves -€30,686
down €30,686 (-100%), from €30,686 to €0
- Tax, wage and social debts -€11,136
down €11,136 (-94.8%), from €11,749 to €613
- Debts after one year -€8,410
down €8,410 (-41.8%), from €20,126 to €11,717
- Gross operating margin -€67,526
down €67,526 (-1,056%), from -€6,396 to -€73,922
- Provisions +€35,000
new in 2025: €35,000
- Other operating charges +€10,861
up €10,861 (+142%), from €7,668 to €18,529
- Write-downs +€5,250
up €5,250, from -€5,250 to €0
- Financial income +€3,872
up €3,872 (+284%), from €1,365 to €5,237
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.
Derived cash bridge
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 | €210,194 | €86,654 | -€123,540 | -58.8% |
| Fixed assets | 21/28 | €30,483 | €24,872 | -€5,612 | -18.4% |
| Tangible fixed assets | 22/27 | €30,393 | €24,782 | -€5,612 | -18.5% |
| Land and buildings | 22 | €20,824 | €18,887 | -€1,937 | -9.3% |
| Plant, machinery and equipment | 23 | €8,270 | €5,895 | -€2,375 | -28.7% |
| Furniture and vehicles | 24 | €1,300 | €0 | -€1,300 | -100% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €179,710 | €61,782 | -€117,928 | -65.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €0 | -€30,000 | -100% |
| Other amounts receivable | 291 | €30,000 | €0 | -€30,000 | -100% |
| Stocks and contracts in progress | 3 | €12,919 | €2,500 | -€10,419 | -80.6% |
| Stocks | 30/36 | €12,919 | €2,500 | -€10,419 | -80.6% |
| Amounts receivable within one year | 40/41 | €93,149 | €56,316 | -€36,833 | -39.5% |
| Trade receivables | 40 | €76,308 | €22,118 | -€54,190 | -71.0% |
| Other amounts receivable | 41 | €16,841 | €34,198 | +€17,357 | +103% |
| Cash at bank and in hand | 54/58 | €43,408 | €2,868 | -€40,540 | -93.4% |
| Deferred charges and accrued income | 490/1 | €234 | €99 | -€135 | -57.8% |
| Total equity and liabilities | 10/49 | €210,194 | €86,654 | -€123,540 | -58.8% |
| Equity | 10/15 | €46,886 | -€84,874 | -€131,760 | |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €30,686 | €0 | -€30,686 | -100% |
| Distributable reserves | 133 | €30,686 | €0 | -€30,686 | -100% |
| Profit (loss) carried forward | 14 | - | -€101,074 | -€101,074 | |
| Provisions and deferred taxes | 16 | - | €35,000 | +€35,000 | |
| Provisions for liabilities and charges | 160/5 | - | €35,000 | +€35,000 | |
| Other liabilities and charges | 164/5 | - | €35,000 | +€35,000 | |
| Amounts payable | 17/49 | €163,308 | €136,528 | -€26,780 | -16.4% |
| Amounts payable after more than one year | 17 | €20,126 | €11,717 | -€8,410 | -41.8% |
| Financial debts | 170/4 | €20,126 | €11,717 | -€8,410 | -41.8% |
| Amounts payable within one year | 42/48 | €143,181 | €124,811 | -€18,370 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €8,227 | €8,410 | +€183 | +2.2% |
| Financial debts | 43 | €110,000 | €111,203 | +€1,203 | +1.1% |
| Credit institutions | 430/8 | €110,000 | €111,203 | +€1,203 | +1.1% |
| Trade debts | 44 | €11,865 | €4,325 | -€7,540 | -63.5% |
| Suppliers | 440/4 | €11,865 | €4,325 | -€7,540 | -63.5% |
| Taxes, remuneration and social security | 45 | €11,749 | €613 | -€11,136 | -94.8% |
| Taxes | 450/3 | €11,749 | €613 | -€11,136 | -94.8% |
| Other amounts payable | 47/48 | €1,340 | €260 | -€1,080 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,190 | €3,497 | +€307 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,250 | €0 | +€5,250 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €35,000 | +€35,000 | |
| Other operating charges | 640/8 | €7,668 | €18,529 | +€10,861 | +142% |
| Gross operating margin | 9900 | -€6,396 | -€73,922 | -€67,526 | -1,056% |
| Operating profit (loss) | 9901 | -€12,004 | -€130,947 | -€118,943 | -991% |
| Financial income | 75/76B | €1,365 | €5,237 | +€3,872 | +284% |
| Recurring financial income | 75 | €1,365 | €5,237 | +€3,872 | +284% |
| Financial charges | 65/66B | €7,681 | €5,755 | -€1,927 | -25.1% |
| Recurring financial charges | 65 | €7,681 | €5,755 | -€1,927 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,320 | -€131,465 | -€113,145 | -618% |
| Income taxes | 67/77 | €355 | €295 | -€60 | -16.8% |
| Profit (loss) for the period | 9904 | -€18,675 | -€131,760 | -€113,085 | -606% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,675 | -€131,760 | -€113,085 | -606% |
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 26 October 2026 via checked.be.