EDA: 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.
EDA
Largest movements
- Receivables within one year -€301,900
down €301,900 (-70.5%), from €428,098 to €126,198
of which Trade receivables: -€301,900
- Cash +€120,893
up €120,893 (+65.6%), from €184,164 to €305,057
mainly Receivables within one year (+€301,900) and Depreciation (+€44,161)
- Tangible fixed assets -€23,196
down €23,196 (-26.7%), from €86,914 to €63,719
of which Furniture and vehicles: -€13,269
- Trade debts -€165,177
down €165,177 (-99.3%), from €166,377 to €1,201
- Tax, wage and social debts -€59,791
down €59,791 (-61.7%), from €96,918 to €37,127
of which Remuneration and social security: -€66,017
- Reserves +€35,859
up €35,859 (+9.3%), from €385,760 to €421,619
- Current portion of long-term debt -€15,654
no longer reported in 2025 (was €15,654)
- Staff costs -€101,015
down €101,015 (-62.8%), from €160,815 to €59,800
- Gross operating margin -€61,085
down €61,085 (-27.0%), from €225,903 to €164,818
- Taxes +€19,203
up €19,203 (+595%), from €3,227 to €22,430
- Financial charges -€12,092
down €12,092 (-88.1%), from €13,732 to €1,641
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 | €699,642 | €495,581 | -€204,061 | -29.2% |
| Fixed assets | 21/28 | €87,004 | €63,809 | -€23,196 | -26.7% |
| Tangible fixed assets | 22/27 | €86,914 | €63,719 | -€23,196 | -26.7% |
| Plant, machinery and equipment | 23 | €17,905 | €14,475 | -€3,430 | -19.2% |
| Furniture and vehicles | 24 | €47,775 | €34,506 | -€13,269 | -27.8% |
| Leasing and similar rights | 25 | €6,855 | €3,065 | -€3,790 | -55.3% |
| Other tangible fixed assets | 26 | €14,379 | €11,673 | -€2,706 | -18.8% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €612,638 | €431,773 | -€180,865 | -29.5% |
| Amounts receivable within one year | 40/41 | €428,098 | €126,198 | -€301,900 | -70.5% |
| Trade receivables | 40 | €350,673 | €48,773 | -€301,900 | -86.1% |
| Other amounts receivable | 41 | €77,426 | €77,426 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €184,164 | €305,057 | +€120,893 | +65.6% |
| Deferred charges and accrued income | 490/1 | €375 | €517 | +€142 | +37.9% |
| Total equity and liabilities | 10/49 | €699,642 | €495,581 | -€204,061 | -29.2% |
| Equity | 10/15 | €416,087 | €451,946 | +€35,859 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €385,760 | €421,619 | +€35,859 | +9.3% |
| Distributable reserves | 133 | €385,760 | €421,619 | +€35,859 | +9.3% |
| Profit (loss) carried forward | 14 | €11,727 | €11,727 | = | 0.0% |
| Amounts payable | 17/49 | €283,555 | €43,635 | -€239,920 | -84.6% |
| Amounts payable within one year | 42/48 | €283,526 | €43,635 | -€239,891 | -84.6% |
| Current portion of amounts payable after more than one year | 42 | €15,654 | - | -€15,654 | |
| Trade debts | 44 | €166,377 | €1,201 | -€165,177 | -99.3% |
| Suppliers | 440/4 | €166,377 | €1,201 | -€165,177 | -99.3% |
| Taxes, remuneration and social security | 45 | €96,918 | €37,127 | -€59,791 | -61.7% |
| Taxes | 450/3 | €23,574 | €29,801 | +€6,226 | +26.4% |
| Remuneration and social security | 454/9 | €73,344 | €7,326 | -€66,017 | -90.0% |
| Other amounts payable | 47/48 | €4,577 | €5,307 | +€731 | +16.0% |
| Accrued charges and deferred income | 492/3 | €28 | - | -€28 | |
| Non-recurring operating income | 76A | €135 | - | -€135 | |
| Remuneration, social security and pensions | 62 | €160,815 | €59,800 | -€101,015 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,858 | €44,161 | -€696 | -1.6% |
| Other operating charges | 640/8 | €3,172 | €1,509 | -€1,662 | -52.4% |
| Gross operating margin | 9900 | €225,903 | €164,818 | -€61,085 | -27.0% |
| Operating profit (loss) | 9901 | €17,058 | €59,347 | +€42,288 | +248% |
| Financial income | 75/76B | €701 | €583 | -€118 | -16.9% |
| Recurring financial income | 75 | €701 | €583 | -€118 | -16.9% |
| Financial charges | 65/66B | €13,732 | €1,641 | -€12,092 | -88.1% |
| Recurring financial charges | 65 | €13,732 | €1,641 | -€12,092 | -88.1% |
| Profit (loss) for the period before taxes | 9903 | €4,027 | €58,288 | +€54,262 | +1,347% |
| Income taxes | 67/77 | €3,227 | €22,430 | +€19,203 | +595% |
| Profit (loss) for the period | 9904 | €800 | €35,859 | +€35,059 | +4,382% |
| Profit (loss) for the period to be appropriated | 9905 | €800 | €35,859 | +€35,059 | +4,382% |
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 13 October 2026 via checked.be.