EDSECON: what changed
Two financial 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.
EDSECON
Largest movements
- Cash -€151,556
down €151,556 (-88.0%), from €172,187 to €20,631
mainly Current investments (-€135,663) and Contributions, distributions and other (-€100,000)
- Current investments +€135,663
new in 2025: €135,663
- Tangible fixed assets +€45,410
up €45,410 (+53.4%), from €85,021 to €130,432
of which Furniture and vehicles: +€42,918
- Receivables within one year +€4,824
up €4,824 (+16.6%), from €29,077 to €33,901
of which Trade receivables: +€4,513
- Other debts +€73,203
up €73,203 (+41.6%), from €176,175 to €249,379
- Reserves -€28,900
down €28,900 (-42.3%), from €68,388 to €39,488
- Trade debts -€7,564
down €7,564 (-70.9%), from €10,675 to €3,111
- Gross operating margin +€26,627
up €26,627 (+16.1%), from €165,515 to €192,141
- Staff costs +€12,220
up €12,220 (+24.0%), from €50,966 to €63,185
- Depreciation +€3,281
up €3,281 (+13.4%), from €24,485 to €27,766
- Financial charges +€3,079
up €3,079 (+32.5%), from €9,476 to €12,555
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.
Derived cash bridge
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 | €295,138 | €331,915 | +€36,776 | +12.5% |
| Fixed assets | 21/28 | €85,021 | €130,432 | +€45,410 | +53.4% |
| Tangible fixed assets | 22/27 | €85,021 | €130,432 | +€45,410 | +53.4% |
| Plant, machinery and equipment | 23 | - | €2,492 | +€2,492 | |
| Furniture and vehicles | 24 | €85,021 | €127,939 | +€42,918 | +50.5% |
| Current assets | 29/58 | €210,117 | €201,483 | -€8,634 | -4.1% |
| Amounts receivable within one year | 40/41 | €29,077 | €33,901 | +€4,824 | +16.6% |
| Trade receivables | 40 | €21,797 | €26,310 | +€4,513 | +20.7% |
| Other amounts receivable | 41 | €7,280 | €7,591 | +€311 | +4.3% |
| Current investments | 50/53 | - | €135,663 | +€135,663 | |
| Cash at bank and in hand | 54/58 | €172,187 | €20,631 | -€151,556 | -88.0% |
| Deferred charges and accrued income | 490/1 | €8,852 | €11,288 | +€2,436 | +27.5% |
| Total equity and liabilities | 10/49 | €295,138 | €331,915 | +€36,776 | +12.5% |
| Equity | 10/15 | €86,988 | €58,088 | -€28,900 | -33.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,388 | €39,488 | -€28,900 | -42.3% |
| Distributable reserves | 133 | €68,388 | €39,488 | -€28,900 | -42.3% |
| Amounts payable | 17/49 | €208,150 | €273,827 | +€65,676 | +31.6% |
| Amounts payable within one year | 42/48 | €208,150 | €273,827 | +€65,676 | +31.6% |
| Trade debts | 44 | €10,675 | €3,111 | -€7,564 | -70.9% |
| Suppliers | 440/4 | €10,675 | €3,111 | -€7,564 | -70.9% |
| Taxes, remuneration and social security | 45 | €21,300 | €21,337 | +€37 | +0.2% |
| Taxes | 450/3 | €14,908 | €14,718 | -€190 | -1.3% |
| Remuneration and social security | 454/9 | €6,391 | €6,618 | +€227 | +3.5% |
| Other amounts payable | 47/48 | €176,175 | €249,379 | +€73,203 | +41.6% |
| Remuneration, social security and pensions | 62 | €50,966 | €63,185 | +€12,220 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,485 | €27,766 | +€3,281 | +13.4% |
| Other operating charges | 640/8 | €2,287 | €1,616 | -€671 | -29.3% |
| Gross operating margin | 9900 | €165,515 | €192,141 | +€26,627 | +16.1% |
| Operating profit (loss) | 9901 | €87,778 | €99,574 | +€11,797 | +13.4% |
| Financial income | 75/76B | - | €1,322 | +€1,322 | |
| Recurring financial income | 75 | - | €1,322 | +€1,322 | |
| Financial charges | 65/66B | €9,476 | €12,555 | +€3,079 | +32.5% |
| Recurring financial charges | 65 | €9,476 | €12,555 | +€3,079 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €78,302 | €88,342 | +€10,040 | +12.8% |
| Income taxes | 67/77 | €16,720 | €17,242 | +€522 | +3.1% |
| Profit (loss) for the period | 9904 | €61,582 | €71,100 | +€9,518 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,582 | €71,100 | +€9,518 | +15.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.