EDCADO: what changed
Two fiscal 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.
EDCADO
Largest movements
- Tangible fixed assets +€449,982
up €449,982 (+47.9%), from €939,070 to €1.4m
- Cash +€32,045
up €32,045 (+88.8%), from €36,101 to €68,146
mainly Debts after one year (+€346,559) and Other debts (+€273,077)
- Debts after one year +€346,559
up €346,559 (+239.4%), from €144,777 to €491,336
of which Financial debts: +€346,219
- Other debts +€273,077
up €273,077 (+419.3%), from €65,127 to €338,204
- Profit (loss) carried forward -€120,307
down €120,307 (-716.9%), from -€16,782 to -€137,089
- Taxes +€52,056
up €52,056, from -€20 to €52,036
- Depreciation +€9,602
up €9,602 (+27.1%), from €35,417 to €45,019
- Financial charges +€5,725
up €5,725 (+225.2%), from €2,542 to €8,267
- Gross operating margin +€4,689
up €4,689 (+7.7%), from €60,646 to €65,335
- Financial income -€3,105
no longer reported in 2024 (was €3,105)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €986,586 | €1,480,646 | +€494,060 | +50.1% |
| Fixed assets | 21/28 | €939,070 | €1,389,052 | +€449,982 | +47.9% |
| Tangible fixed assets | 22/27 | €939,070 | €1,389,052 | +€449,982 | +47.9% |
| Land and buildings | 22 | €939,070 | €1,389,052 | +€449,982 | +47.9% |
| Current assets | 29/58 | €47,516 | €91,594 | +€44,078 | +92.8% |
| Amounts receivable within one year | 40/41 | €11,415 | €23,448 | +€12,033 | +105.4% |
| Trade receivables | 40 | €778 | €778 | = | 0.0% |
| Other amounts receivable | 41 | €10,637 | €22,670 | +€12,033 | +113.1% |
| Cash at bank and in hand | 54/58 | €36,101 | €68,146 | +€32,045 | +88.8% |
| Total equity and liabilities | 10/49 | €986,586 | €1,480,646 | +€494,060 | +50.1% |
| Equity | 10/15 | €722,199 | €599,729 | -€122,470 | -17.0% |
| Contributions | 10/11 | €559,991 | €559,991 | = | 0.0% |
| Capital | 10 | €559,991 | €559,991 | = | 0.0% |
| Issued capital | 100 | €559,991 | €559,991 | = | 0.0% |
| Reserves | 13 | €178,990 | €176,827 | -€2,163 | -1.2% |
| Non-distributable reserves | 130/1 | €1,549 | €1,549 | = | 0.0% |
| Legal reserve | 130 | €1,549 | €1,549 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,278 | €103,115 | -€2,163 | -2.1% |
| Distributable reserves | 133 | €72,163 | €72,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,782 | -€137,089 | -€120,307 | -716.9% |
| Provisions and deferred taxes | 16 | €26,319 | €25,779 | -€540 | -2.1% |
| Deferred taxes | 168 | €26,319 | €25,779 | -€540 | -2.1% |
| Amounts payable | 17/49 | €238,068 | €855,138 | +€617,070 | +259.2% |
| Amounts payable after more than one year | 17 | €144,777 | €491,336 | +€346,559 | +239.4% |
| Financial debts | 170/4 | €139,817 | €486,036 | +€346,219 | +247.6% |
| Other amounts payable | 178/9 | €4,960 | €5,300 | +€340 | +6.9% |
| Amounts payable within one year | 42/48 | €93,139 | €361,623 | +€268,484 | +288.3% |
| Current portion of amounts payable after more than one year | 42 | €12,768 | €22,088 | +€9,320 | +73.0% |
| Trade debts | 44 | €15,163 | €1,331 | -€13,832 | -91.2% |
| Suppliers | 440/4 | €15,163 | €1,331 | -€13,832 | -91.2% |
| Taxes, remuneration and social security | 45 | €81 | - | -€81 | |
| Taxes | 450/3 | €81 | - | -€81 | |
| Other amounts payable | 47/48 | €65,127 | €338,204 | +€273,077 | +419.3% |
| Accrued charges and deferred income | 492/3 | €152 | €2,179 | +€2,027 | +1333.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,417 | €45,019 | +€9,602 | +27.1% |
| Other operating charges | 640/8 | €12,880 | €15,818 | +€2,938 | +22.8% |
| Non-recurring operating charges | 66A | - | €67,207 | +€67,207 | |
| Gross operating margin | 9900 | €60,646 | €65,335 | +€4,689 | +7.7% |
| Operating profit (loss) | 9901 | €12,349 | -€62,709 | -€75,058 | |
| Financial income | 75/76B | €3,105 | - | -€3,105 | |
| Recurring financial income | 75 | €3,105 | - | -€3,105 | |
| Financial charges | 65/66B | €2,542 | €8,267 | +€5,725 | +225.2% |
| Recurring financial charges | 65 | €2,542 | €8,267 | +€5,725 | +225.2% |
| Profit (loss) for the period before taxes | 9903 | €12,912 | -€70,976 | -€83,888 | |
| Transfer from deferred taxes | 780 | - | €33,007 | +€33,007 | |
| Income taxes | 67/77 | -€20 | €52,036 | +€52,056 | |
| Profit (loss) for the period | 9904 | €12,932 | -€90,005 | -€102,937 | |
| Transfer from tax-exempt reserves | 789 | - | €41,861 | +€41,861 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,932 | -€48,144 | -€61,076 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.