EDISA: 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.
EDISA
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+98.5%), from €2.2m to €4.5m
of which Land and buildings: +€2.1m
- Cash +€1.0m
up €1.0m (+615.3%), from €164,691 to €1.2m
- Current investments +€400,000
new in 2025: €400,000
- Contributions +€1.7m
up €1.7m (+1734.8%), from €100,000 to €1.8m
- Debts after one year +€1.2m
up €1.2m (+111.2%), from €1.1m to €2.3m
- Reserves +€663,246
up €663,246 (+486.4%), from €136,355 to €799,601
of which Distributable reserves: +€667,319
- Profit (loss) carried forward -€175,762
down €175,762 (-270.0%), from -€65,104 to -€240,866
- Other debts +€132,987
up €132,987 (+12.4%), from €1.1m to €1.2m
- Depreciation +€115,658
up €115,658 (+88.7%), from €130,380 to €246,038
- Other operating charges +€88,811
up €88,811 (+428.7%), from €20,717 to €109,528
- Gross operating margin +€83,276
up €83,276 (+30.8%), from €270,118 to €353,395
- Financial charges +€66,926
up €66,926 (+58.9%), from €113,534 to €180,460
of which Financial charges: +€66,099
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,410,901 | €6,048,834 | +€3.6m | +150.9% |
| Fixed assets | 21/28 | €2,244,158 | €4,454,357 | +€2.2m | +98.5% |
| Tangible fixed assets | 22/27 | €2,243,558 | €4,453,757 | +€2.2m | +98.5% |
| Land and buildings | 22 | €2,241,713 | €4,352,974 | +€2.1m | +94.2% |
| Furniture and vehicles | 24 | €1,846 | €100,783 | +€98,937 | +5360.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €166,743 | €1,594,477 | +€1.4m | +856.3% |
| Amounts receivable within one year | 40/41 | €587 | €3,872 | +€3,285 | +559.4% |
| Trade receivables | 40 | €152 | €3,872 | +€3,720 | +2453.6% |
| Other amounts receivable | 41 | €436 | - | -€436 | |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €164,691 | €1,177,967 | +€1.0m | +615.3% |
| Deferred charges and accrued income | 490/1 | €1,464 | €12,638 | +€11,174 | +763.0% |
| Total equity and liabilities | 10/49 | €2,410,901 | €6,048,834 | +€3.6m | +150.9% |
| Equity | 10/15 | €171,251 | €2,393,578 | +€2.2m | +1297.7% |
| Contributions | 10/11 | €100,000 | €1,834,843 | +€1.7m | +1734.8% |
| Reserves | 13 | €136,355 | €799,601 | +€663,246 | +486.4% |
| Tax-exempt reserves | 132 | €43,606 | €39,534 | -€4,072 | -9.3% |
| Distributable reserves | 133 | €92,748 | €760,067 | +€667,319 | +719.5% |
| Profit (loss) carried forward | 14 | -€65,104 | -€240,866 | -€175,762 | -270.0% |
| Provisions and deferred taxes | 16 | €18,317 | €16,606 | -€1,711 | -9.3% |
| Deferred taxes | 168 | €18,317 | €16,606 | -€1,711 | -9.3% |
| Amounts payable | 17/49 | €2,221,333 | €3,638,649 | +€1.4m | +63.8% |
| Amounts payable after more than one year | 17 | €1,096,000 | €2,315,000 | +€1.2m | +111.2% |
| Other amounts payable | 178/9 | €1,096,000 | €2,315,000 | +€1.2m | +111.2% |
| Amounts payable within one year | 42/48 | €1,112,280 | €1,314,169 | +€201,888 | +18.2% |
| Trade debts | 44 | €6,062 | €24,340 | +€18,278 | +301.5% |
| Suppliers | 440/4 | €6,062 | €24,340 | +€18,278 | +301.5% |
| Taxes, remuneration and social security | 45 | €34,089 | €84,711 | +€50,623 | +148.5% |
| Taxes | 450/3 | €34,089 | €84,711 | +€50,623 | +148.5% |
| Other amounts payable | 47/48 | €1,072,130 | €1,205,117 | +€132,987 | +12.4% |
| Accrued charges and deferred income | 492/3 | €13,053 | €9,480 | -€3,573 | -27.4% |
| Non-recurring operating income | 76A | €4,959 | €47,954 | +€42,996 | +867.1% |
| Remuneration, social security and pensions | 62 | - | €698 | +€698 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,380 | €246,038 | +€115,658 | +88.7% |
| Other operating charges | 640/8 | €20,717 | €109,528 | +€88,811 | +428.7% |
| Gross operating margin | 9900 | €270,118 | €353,395 | +€83,276 | +30.8% |
| Operating profit (loss) | 9901 | €119,022 | -€2,869 | -€121,891 | |
| Financial income | 75/76B | €2,771 | €2,685 | -€86 | -3.1% |
| Recurring financial income | 75 | €2,771 | €2,685 | -€86 | -3.1% |
| Financial charges | 65/66B | €113,534 | €180,460 | +€66,926 | +58.9% |
| Recurring financial charges | 65 | €113,534 | €179,633 | +€66,099 | +58.2% |
| Non-recurring financial charges | 66B | - | €828 | +€828 | |
| Profit (loss) for the period before taxes | 9903 | €8,258 | -€180,645 | -€188,903 | |
| Transfer from deferred taxes | 780 | €1,711 | €1,711 | = | 0.0% |
| Income taxes | 67/77 | €396 | €900 | +€505 | +127.5% |
| Profit (loss) for the period | 9904 | €9,573 | -€179,834 | -€189,407 | |
| Transfer from tax-exempt reserves | 789 | €4,072 | €4,072 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,645 | -€175,762 | -€189,407 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.