EDC: 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.
EDC
Largest movements
- Current investments -€6,404
down €6,404 (-14.9%), from €42,879 to €36,475
- Cash +€5,192
up €5,192 (+14.3%), from €36,204 to €41,396
mainly Trade debts (+€15,240) and Depreciation (+€8,373)
- Tangible fixed assets -€4,098
down €4,098 (-15.3%), from €26,785 to €22,687
of which Other tangible fixed assets: -€2,548
- Intangible fixed assets -€2,581
no longer reported in 2025 (was €2,581)
- Receivables within one year -€1,745
down €1,745 (-45.8%), from €3,812 to €2,067
of which Other amounts receivable: -€3,380
- Trade debts +€15,240
up €15,240 (+627%), from €2,431 to €17,671
- Reserves -€15,215
down €15,215 (-21.3%), from €71,361 to €56,146
- Other debts -€10,361
down €10,361 (-50.7%), from €20,440 to €10,079
- Depreciation -€4,974
down €4,974 (-37.3%), from €13,347 to €8,373
- Other operating charges -€3,651
down €3,651 (-19.6%), from €18,650 to €14,999
- Financial income +€2,813
up €2,813 (+241%), from €1,167 to €3,981
- Gross operating margin -€2,582
down €2,582 (-14.2%), from €18,151 to €15,569
- Financial charges -€507
down €507 (-28.7%), from €1,765 to €1,258
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 | €122,682 | €112,169 | -€10,513 | -8.6% |
| Fixed assets | 21/28 | €29,365 | €22,687 | -€6,679 | -22.7% |
| Intangible fixed assets | 21 | €2,581 | - | -€2,581 | |
| Tangible fixed assets | 22/27 | €26,785 | €22,687 | -€4,098 | -15.3% |
| Plant, machinery and equipment | 23 | €9,379 | €8,127 | -€1,252 | -13.3% |
| Furniture and vehicles | 24 | €354 | €56 | -€298 | -84.2% |
| Other tangible fixed assets | 26 | €17,052 | €14,504 | -€2,548 | -14.9% |
| Current assets | 29/58 | €93,316 | €89,482 | -€3,834 | -4.1% |
| Stocks and contracts in progress | 3 | €9,538 | €8,820 | -€718 | -7.5% |
| Stocks | 30/36 | €3,958 | €3,240 | -€718 | -18.1% |
| Contracts in progress | 37 | €5,580 | €5,580 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,812 | €2,067 | -€1,745 | -45.8% |
| Trade receivables | 40 | - | €1,635 | +€1,635 | |
| Other amounts receivable | 41 | €3,812 | €432 | -€3,380 | -88.7% |
| Current investments | 50/53 | €42,879 | €36,475 | -€6,404 | -14.9% |
| Cash at bank and in hand | 54/58 | €36,204 | €41,396 | +€5,192 | +14.3% |
| Deferred charges and accrued income | 490/1 | €883 | €724 | -€159 | -18.0% |
| Total equity and liabilities | 10/49 | €122,682 | €112,169 | -€10,513 | -8.6% |
| Equity | 10/15 | €91,812 | €76,597 | -€15,215 | -16.6% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €71,361 | €56,146 | -€15,215 | -21.3% |
| Distributable reserves | 133 | €71,361 | €56,146 | -€15,215 | -21.3% |
| Amounts payable | 17/49 | €30,869 | €35,572 | +€4,703 | +15.2% |
| Amounts payable within one year | 42/48 | €30,625 | €35,337 | +€4,711 | +15.4% |
| Trade debts | 44 | €2,431 | €17,671 | +€15,240 | +627% |
| Suppliers | 440/4 | €2,431 | €17,671 | +€15,240 | +627% |
| Taxes, remuneration and social security | 45 | €7,754 | €7,587 | -€167 | -2.2% |
| Taxes | 450/3 | €7,754 | €7,587 | -€167 | -2.2% |
| Other amounts payable | 47/48 | €20,440 | €10,079 | -€10,361 | -50.7% |
| Accrued charges and deferred income | 492/3 | €244 | €235 | -€9 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,347 | €8,373 | -€4,974 | -37.3% |
| Other operating charges | 640/8 | €18,650 | €14,999 | -€3,651 | -19.6% |
| Gross operating margin | 9900 | €18,151 | €15,569 | -€2,582 | -14.2% |
| Operating profit (loss) | 9901 | -€13,846 | -€7,803 | +€6,043 | +43.6% |
| Financial income | 75/76B | €1,167 | €3,981 | +€2,813 | +241% |
| Recurring financial income | 75 | €1,167 | €3,981 | +€2,813 | +241% |
| Financial charges | 65/66B | €1,765 | €1,258 | -€507 | -28.7% |
| Recurring financial charges | 65 | €1,765 | €1,258 | -€507 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,443 | -€5,080 | +€9,364 | +64.8% |
| Income taxes | 67/77 | €145 | €135 | -€10 | -7.0% |
| Profit (loss) for the period | 9904 | -€14,589 | -€5,215 | +€9,374 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,589 | -€5,215 | +€9,374 | +64.3% |
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 31 October 2026 via checked.be.