EDDY COX: 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.
EDDY COX
Largest movements
- Current investments +€501,920
new in 2025: €501,920
- Cash -€242,102
down €242,102 (-82.2%), from €294,410 to €52,308
mainly Contributions, distributions and other (-€664,824) and Current investments (-€501,920)
- Receivables within one year -€212,230
down €212,230 (-24.4%), from €871,166 to €658,936
of which Other amounts receivable: -€154,011
- Tangible fixed assets -€66,069
down €66,069 (-6.9%), from €956,896 to €890,827
of which Other tangible fixed assets: -€56,046
- Reserves -€67,790
down €67,790 (-2.7%), from €2.5m to €2.4m
of which Distributable reserves: -€67,790
- Tax, wage and social debts +€61,847
up €61,847 (+39.9%), from €154,950 to €216,798
- Gross operating margin +€91,680
up €91,680 (+11.9%), from €770,824 to €862,504
- Taxes +€35,895
up €35,895 (+14.6%), from €245,645 to €281,540
- Financial income +€17,954
up €17,954 (+26.0%), from €68,936 to €86,890
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,686,078 | €2,681,508 | -€4,570 | -0.2% |
| Fixed assets | 21/28 | €981,896 | €915,827 | -€66,069 | -6.7% |
| Tangible fixed assets | 22/27 | €956,896 | €890,827 | -€66,069 | -6.9% |
| Land and buildings | 22 | €320,972 | €315,799 | -€5,173 | -1.6% |
| Furniture and vehicles | 24 | €17,536 | €12,686 | -€4,850 | -27.7% |
| Other tangible fixed assets | 26 | €618,388 | €562,342 | -€56,046 | -9.1% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €1,704,182 | €1,765,681 | +€61,499 | +3.6% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €871,166 | €658,936 | -€212,230 | -24.4% |
| Trade receivables | 40 | €117,121 | €58,901 | -€58,219 | -49.7% |
| Other amounts receivable | 41 | €754,046 | €600,035 | -€154,011 | -20.4% |
| Current investments | 50/53 | - | €501,920 | +€501,920 | |
| Cash at bank and in hand | 54/58 | €294,410 | €52,308 | -€242,102 | -82.2% |
| Deferred charges and accrued income | 490/1 | €38,605 | €52,517 | +€13,911 | +36.0% |
| Total equity and liabilities | 10/49 | €2,686,078 | €2,681,508 | -€4,570 | -0.2% |
| Equity | 10/15 | €2,529,034 | €2,461,243 | -€67,790 | -2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,510,434 | €2,442,643 | -€67,790 | -2.7% |
| Tax-exempt reserves | 132 | €1,807 | €1,807 | = | 0.0% |
| Distributable reserves | 133 | €2,508,626 | €2,440,836 | -€67,790 | -2.7% |
| Amounts payable | 17/49 | €157,044 | €220,264 | +€63,220 | +40.3% |
| Amounts payable within one year | 42/48 | €156,947 | €220,219 | +€63,272 | +40.3% |
| Trade debts | 44 | €1,997 | €3,421 | +€1,425 | +71.4% |
| Suppliers | 440/4 | €1,997 | €3,421 | +€1,425 | +71.4% |
| Taxes, remuneration and social security | 45 | €154,950 | €216,798 | +€61,847 | +39.9% |
| Taxes | 450/3 | €154,950 | €216,798 | +€61,847 | +39.9% |
| Accrued charges and deferred income | 492/3 | €97 | €45 | -€52 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,805 | €68,451 | +€645 | +1.0% |
| Other operating charges | 640/8 | €2,324 | €2,150 | -€174 | -7.5% |
| Gross operating margin | 9900 | €770,824 | €862,504 | +€91,680 | +11.9% |
| Operating profit (loss) | 9901 | €700,695 | €791,904 | +€91,209 | +13.0% |
| Financial income | 75/76B | €68,936 | €86,890 | +€17,954 | +26.0% |
| Recurring financial income | 75 | €68,936 | €86,890 | +€17,954 | +26.0% |
| Financial charges | 65/66B | €471 | €220 | -€251 | -53.2% |
| Recurring financial charges | 65 | €471 | €220 | -€251 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €769,160 | €878,573 | +€109,413 | +14.2% |
| Income taxes | 67/77 | €245,645 | €281,540 | +€35,895 | +14.6% |
| Profit (loss) for the period | 9904 | €523,515 | €597,034 | +€73,519 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €523,515 | €597,034 | +€73,519 | +14.0% |
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 2 October 2026 via checked.be.