EDCO: 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.
What changed
EDCO
NACE 78.100, Employment placement agencies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€319,199
2024 · €29,069+€290,130
Equity
€456,876
2024 · €137,677+€319,199
Cash
€252,953
2024 · €253,940-€987
Balance sheet total
€1.5m
2024 · €2.3m-€803,670
Largest movements
Assets
- Tangible fixed assets -€834,934
down €834,934 (-59.6%), from €1.4m to €566,369
of which Land and buildings: -€570,542
- Receivables within one year +€92,789
up €92,789 (+18.0%), from €516,033 to €608,822
of which Other amounts receivable: +€57,225
- Intangible fixed assets -€36,533
down €36,533 (-27.2%), from €134,151 to €97,618
Equity and liabilities
- Debts after one year -€625,761
down €625,761 (-100.0%), from €625,761 to €0
- Short-term financial debts -€531,761
down €531,761 (-100.0%), from €531,761 to €0
- Other debts +€458,491
up €458,491 (+10955.6%), from €4,185 to €462,676
- Profit (loss) carried forward +€365,692
up €365,692 (+880.9%), from €41,514 to €407,206
- Current portion of long-term debt -€309,540
down €309,540 (-100.0%), from €309,540 to €0
Income statement
- Gross operating margin +€270,436
up €270,436 (+27.6%), from €979,666 to €1.3m
- Taxes +€134,266
up €134,266 (+552.7%), from €24,294 to €158,560
- Other operating charges -€82,952
down €82,952 (-74.5%), from €111,295 to €28,343
- Depreciation -€26,037
down €26,037 (-9.1%), from €286,137 to €260,100
- Financial charges -€24,111
down €24,111 (-29.3%), from €82,417 to €58,306
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.
Result 2024
€29,069
Gross operating margin
+€270,436
Staff costs
+€23,697
Depreciation
+€26,037
Write-downs
-€16,153
Other operating charges
+€82,952
Other operating items
-€3,646
Financial income
+€3,381
Financial charges
+€24,111
Other financial items
+€1
Taxes
-€134,266
Deferred taxes and other
+€13,580
Result 2025
€319,199
Cash bridge derived
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.
From operations
+€851,908
Investment
+€614,168
Financing
-€1.5m
Cash 2024
€253,940
From operations (derived)
+€851,908
Net result for the year
+€319,199
Depreciation
+€260,100
Receivables within one year
-€92,789
Deferred charges and accrued income
+€21,205
Provisions
-€15,498
Trade debts
+€41,827
Tax, wage and social debts
+€6,240
Advances received
-€123,887
Other debts
+€458,491
Accrued charges and deferred income
-€22,979
Investment (derived)
+€614,168
Investment in fixed assets (net)
+€614,168
Financing
-€1.5m
Debts after one year
-€625,761
Current portion of long-term debt
-€309,540
Short-term financial debts
-€531,761
Contributions, distributions and other
-€0
Not broken down
-€1
Cash 2025
€252,953
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,347,549 | €1,543,879 | -€803,670 | -34.2% |
| Fixed assets | 21/28 | €1,538,754 | €664,486 | -€874,268 | -56.8% |
| Intangible fixed assets | 21 | €134,151 | €97,618 | -€36,533 | -27.2% |
| Tangible fixed assets | 22/27 | €1,401,303 | €566,369 | -€834,934 | -59.6% |
| Land and buildings | 22 | €605,053 | €34,511 | -€570,542 | -94.3% |
| Plant, machinery and equipment | 23 | €78,134 | €57,074 | -€21,060 | -27.0% |
| Furniture and vehicles | 24 | €679,734 | €441,853 | -€237,881 | -35.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €38,382 | €32,930 | -€5,452 | -14.2% |
| Financial fixed assets | 28 | €3,300 | €500 | -€2,800 | -84.8% |
| Current assets | 29/58 | €808,795 | €879,392 | +€70,597 | +8.7% |
| Amounts receivable within one year | 40/41 | €516,033 | €608,822 | +€92,789 | +18.0% |
| Trade receivables | 40 | €492,340 | €527,904 | +€35,564 | +7.2% |
| Other amounts receivable | 41 | €23,693 | €80,918 | +€57,225 | +241.5% |
| Cash at bank and in hand | 54/58 | €253,940 | €252,953 | -€987 | -0.4% |
| Deferred charges and accrued income | 490/1 | €38,822 | €17,617 | -€21,205 | -54.6% |
| Total equity and liabilities | 10/49 | €2,347,549 | €1,543,879 | -€803,670 | -34.2% |
| Equity | 10/15 | €137,677 | €456,876 | +€319,199 | +231.8% |
| Contributions | 10/11 | €1,929 | €1,929 | +€0 | 0.0% |
| Reserves | 13 | €94,234 | €47,740 | -€46,494 | -49.3% |
| Tax-exempt reserves | 132 | €53,744 | €7,250 | -€46,494 | -86.5% |
| Distributable reserves | 133 | €40,490 | €40,490 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €41,514 | €407,206 | +€365,692 | +880.9% |
| Provisions and deferred taxes | 16 | €15,498 | €0 | -€15,498 | -100.0% |
| Deferred taxes | 168 | €15,498 | €0 | -€15,498 | -100.0% |
| Amounts payable | 17/49 | €2,194,374 | €1,087,003 | -€1.1m | -50.5% |
| Amounts payable after more than one year | 17 | €625,761 | €0 | -€625,761 | -100.0% |
| Financial debts | 170/4 | €625,761 | €0 | -€625,761 | -100.0% |
| Amounts payable within one year | 42/48 | €1,466,414 | €1,007,783 | -€458,631 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €309,540 | €0 | -€309,540 | -100.0% |
| Financial debts | 43 | €531,761 | €0 | -€531,761 | -100.0% |
| Credit institutions | 430/8 | €531,761 | €0 | -€531,761 | -100.0% |
| Trade debts | 44 | €317,684 | €359,511 | +€41,827 | +13.2% |
| Suppliers | 440/4 | €317,684 | €359,511 | +€41,827 | +13.2% |
| Advances received on contracts in progress | 46 | €225,854 | €101,967 | -€123,887 | -54.9% |
| Taxes, remuneration and social security | 45 | €77,389 | €83,629 | +€6,240 | +8.1% |
| Taxes | 450/3 | €41,092 | €38,110 | -€2,982 | -7.3% |
| Remuneration and social security | 454/9 | €36,298 | €45,519 | +€9,221 | +25.4% |
| Other amounts payable | 47/48 | €4,185 | €462,676 | +€458,491 | +10955.6% |
| Accrued charges and deferred income | 492/3 | €102,199 | €79,220 | -€22,979 | -22.5% |
| Non-recurring operating income | 76A | €10,750 | €7,745 | -€3,005 | -28.0% |
| Remuneration, social security and pensions | 62 | €468,019 | €444,322 | -€23,697 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286,137 | €260,100 | -€26,037 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,153 | €0 | +€16,153 | |
| Other operating charges | 640/8 | €111,295 | €28,343 | -€82,952 | -74.5% |
| Non-recurring operating charges | 66A | €6,295 | €9,941 | +€3,646 | +57.9% |
| Gross operating margin | 9900 | €979,666 | €1,250,102 | +€270,436 | +27.6% |
| Operating profit (loss) | 9901 | €124,073 | €507,396 | +€383,323 | +308.9% |
| Financial income | 75/76B | €9,790 | €13,171 | +€3,381 | +34.5% |
| Recurring financial income | 75 | €9,790 | €13,171 | +€3,381 | +34.5% |
| Financial charges | 65/66B | €82,417 | €58,306 | -€24,111 | -29.3% |
| Recurring financial charges | 65 | €82,417 | €58,306 | -€24,111 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €51,445 | €462,261 | +€410,816 | +798.6% |
| Transfer from deferred taxes | 780 | €1,917 | €15,498 | +€13,581 | +708.4% |
| Income taxes | 67/77 | €24,294 | €158,560 | +€134,266 | +552.7% |
| Profit (loss) for the period | 9904 | €29,069 | €319,199 | +€290,130 | +998.1% |
| Transfer from tax-exempt reserves | 789 | €5,751 | €46,494 | +€40,743 | +708.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,820 | €365,692 | +€330,872 | +950.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.