EDGM: 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.
EDGM
Largest movements
- Receivables within one year -€1.6m
down €1.6m (-74.6%), from €2.1m to €529,465
of which Other amounts receivable: -€1.6m
- Stocks and contracts +€108,704
up €108,704 (+8.7%), from €1.2m to €1.4m
- Tangible fixed assets +€46,883
up €46,883 (+180.3%), from €26,000 to €72,883
- Reserves -€1.4m
down €1.4m (-50.4%), from €2.8m to €1.4m
of which Distributable reserves: -€1.4m
- Tax, wage and social debts -€60,342
down €60,342 (-25.0%), from €241,502 to €181,160
of which Taxes: -€92,823
- Gross operating margin -€239,285
down €239,285 (-14.2%), from €1.7m to €1.4m
- Taxes -€76,234
down €76,234 (-27.0%), from €282,386 to €206,152
- Staff costs +€57,059
up €57,059 (+9.7%), from €587,468 to €644,527
- Financial income -€17,665
down €17,665 (-22.8%), from €77,606 to €59,941
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 | €3,471,521 | €2,046,295 | -€1.4m | -41.1% |
| Fixed assets | 21/28 | €26,000 | €72,883 | +€46,883 | +180.3% |
| Tangible fixed assets | 22/27 | €26,000 | €72,883 | +€46,883 | +180.3% |
| Plant, machinery and equipment | 23 | €16,920 | €39,284 | +€22,364 | +132.2% |
| Furniture and vehicles | 24 | €4,116 | €14,879 | +€10,763 | +261.5% |
| Other tangible fixed assets | 26 | €4,964 | €18,721 | +€13,757 | +277.2% |
| Current assets | 29/58 | €3,445,521 | €1,973,412 | -€1.5m | -42.7% |
| Stocks and contracts in progress | 3 | €1,245,026 | €1,353,730 | +€108,704 | +8.7% |
| Stocks | 30/36 | €1,245,026 | €1,353,730 | +€108,704 | +8.7% |
| Amounts receivable within one year | 40/41 | €2,085,353 | €529,465 | -€1.6m | -74.6% |
| Trade receivables | 40 | €64,103 | €58,897 | -€5,206 | -8.1% |
| Other amounts receivable | 41 | €2,021,250 | €470,569 | -€1.6m | -76.7% |
| Cash at bank and in hand | 54/58 | €37,599 | €31,021 | -€6,578 | -17.5% |
| Deferred charges and accrued income | 490/1 | €77,544 | €59,196 | -€18,349 | -23.7% |
| Total equity and liabilities | 10/49 | €3,471,521 | €2,046,295 | -€1.4m | -41.1% |
| Equity | 10/15 | €2,909,807 | €1,514,024 | -€1.4m | -48.0% |
| Contributions | 10/11 | €140,290 | €140,290 | = | 0.0% |
| Capital | 10 | €140,290 | €140,290 | = | 0.0% |
| Issued capital | 100 | €140,290 | €140,290 | = | 0.0% |
| Reserves | 13 | €2,769,517 | €1,373,734 | -€1.4m | -50.4% |
| Non-distributable reserves | 130/1 | €14,029 | €14,029 | = | 0.0% |
| Legal reserve | 130 | €14,029 | €14,029 | = | 0.0% |
| Distributable reserves | 133 | €2,755,488 | €1,359,705 | -€1.4m | -50.7% |
| Amounts payable | 17/49 | €561,715 | €532,271 | -€29,444 | -5.2% |
| Amounts payable within one year | 42/48 | €486,544 | €437,927 | -€48,617 | -10.0% |
| Trade debts | 44 | €237,465 | €250,084 | +€12,619 | +5.3% |
| Suppliers | 440/4 | €237,465 | €250,084 | +€12,619 | +5.3% |
| Advances received on contracts in progress | 46 | €7,576 | €6,683 | -€893 | -11.8% |
| Taxes, remuneration and social security | 45 | €241,502 | €181,160 | -€60,342 | -25.0% |
| Taxes | 450/3 | €179,147 | €86,325 | -€92,823 | -51.8% |
| Remuneration and social security | 454/9 | €62,355 | €94,835 | +€32,480 | +52.1% |
| Accrued charges and deferred income | 492/3 | €75,171 | €94,344 | +€19,173 | +25.5% |
| Non-recurring operating income | 76A | €45,516 | - | -€45,516 | |
| Remuneration, social security and pensions | 62 | €587,468 | €644,527 | +€57,059 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,503 | €21,435 | +€1,932 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€317 | - | +€317 | |
| Other operating charges | 640/8 | €40,479 | €29,693 | -€10,786 | -26.6% |
| Gross operating margin | 9900 | €1,686,620 | €1,447,335 | -€239,285 | -14.2% |
| Operating profit (loss) | 9901 | €1,039,486 | €751,680 | -€287,807 | -27.7% |
| Financial income | 75/76B | €77,606 | €59,941 | -€17,665 | -22.8% |
| Recurring financial income | 75 | €77,606 | €59,941 | -€17,665 | -22.8% |
| Financial charges | 65/66B | €555 | €1,250 | +€696 | +125.5% |
| Recurring financial charges | 65 | €555 | €1,250 | +€696 | +125.5% |
| Profit (loss) for the period before taxes | 9903 | €1,116,538 | €810,370 | -€306,168 | -27.4% |
| Income taxes | 67/77 | €282,386 | €206,152 | -€76,234 | -27.0% |
| Profit (loss) for the period | 9904 | €834,151 | €604,218 | -€229,934 | -27.6% |
| Transfer from tax-exempt reserves | 789 | €127,672 | - | -€127,672 | |
| Profit (loss) for the period to be appropriated | 9905 | €961,823 | €604,218 | -€357,605 | -37.2% |
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 4 October 2026 via checked.be.