EDUGAR: 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.
EDUGAR
Largest movements
- Cash -€45,058
down €45,058 (-58.7%), from €76,725 to €31,667
mainly Contributions, distributions and other (-€188,686) and Debts after one year (-€14,697)
- Current investments -€20,530
down €20,530 (-82.1%), from €25,000 to €4,470
- Tangible fixed assets -€17,789
down €17,789 (-22.9%), from €77,584 to €59,794
of which Furniture and vehicles: -€17,040
- Receivables within one year +€10,240
up €10,240 (+66.0%), from €15,518 to €25,758
of which Trade receivables: +€5,881
- Reserves -€80,265
down €80,265 (-92.0%), from €87,265 to €7,000
- Other debts +€16,611
up €16,611 (+235%), from €7,075 to €23,686
- Debts after one year -€14,697
down €14,697 (-29.5%), from €49,786 to €35,088
- Tax, wage and social debts +€4,983
up €4,983 (+14.6%), from €34,170 to €39,153
- Gross operating margin +€30,304
up €30,304 (+23.5%), from €128,836 to €159,140
- Taxes +€7,675
up €7,675 (+33.2%), from €23,150 to €30,825
- Depreciation +€3,840
up €3,840 (+25.6%), from €15,028 to €18,868
- Financial income +€2,075
up €2,075 (+12,066%), from €17 to €2,093
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 | €196,215 | €123,035 | -€73,180 | -37.3% |
| Fixed assets | 21/28 | €77,584 | €59,794 | -€17,789 | -22.9% |
| Tangible fixed assets | 22/27 | €77,584 | €59,794 | -€17,789 | -22.9% |
| Plant, machinery and equipment | 23 | €1,152 | €786 | -€365 | -31.7% |
| Furniture and vehicles | 24 | €74,685 | €57,645 | -€17,040 | -22.8% |
| Other tangible fixed assets | 26 | €1,747 | €1,363 | -€384 | -22.0% |
| Current assets | 29/58 | €118,632 | €63,241 | -€55,391 | -46.7% |
| Amounts receivable within one year | 40/41 | €15,518 | €25,758 | +€10,240 | +66.0% |
| Trade receivables | 40 | €15,518 | €21,399 | +€5,881 | +37.9% |
| Other amounts receivable | 41 | - | €4,359 | +€4,359 | |
| Current investments | 50/53 | €25,000 | €4,470 | -€20,530 | -82.1% |
| Cash at bank and in hand | 54/58 | €76,725 | €31,667 | -€45,058 | -58.7% |
| Deferred charges and accrued income | 490/1 | €1,388 | €1,346 | -€42 | -3.0% |
| Total equity and liabilities | 10/49 | €196,215 | €123,035 | -€73,180 | -37.3% |
| Equity | 10/15 | €90,265 | €10,000 | -€80,265 | -88.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €87,265 | €7,000 | -€80,265 | -92.0% |
| Distributable reserves | 133 | €87,265 | €7,000 | -€80,265 | -92.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,950 | €113,035 | +€7,085 | +6.7% |
| Amounts payable after more than one year | 17 | €49,786 | €35,088 | -€14,697 | -29.5% |
| Financial debts | 170/4 | €49,786 | €35,088 | -€14,697 | -29.5% |
| Amounts payable within one year | 42/48 | €56,159 | €77,934 | +€21,775 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €14,173 | €14,697 | +€525 | +3.7% |
| Trade debts | 44 | €741 | €398 | -€343 | -46.3% |
| Suppliers | 440/4 | €741 | €398 | -€343 | -46.3% |
| Taxes, remuneration and social security | 45 | €34,170 | €39,153 | +€4,983 | +14.6% |
| Taxes | 450/3 | €34,170 | €39,153 | +€4,983 | +14.6% |
| Other amounts payable | 47/48 | €7,075 | €23,686 | +€16,611 | +235% |
| Accrued charges and deferred income | 492/3 | €6 | €13 | +€8 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,028 | €18,868 | +€3,840 | +25.6% |
| Other operating charges | 640/8 | €827 | €673 | -€154 | -18.6% |
| Gross operating margin | 9900 | €128,836 | €159,140 | +€30,304 | +23.5% |
| Operating profit (loss) | 9901 | €112,981 | €139,600 | +€26,618 | +23.6% |
| Financial income | 75/76B | €17 | €2,093 | +€2,075 | +12,066% |
| Recurring financial income | 75 | €17 | €2,093 | +€2,075 | +12,066% |
| Financial charges | 65/66B | €2,276 | €2,446 | +€170 | +7.5% |
| Recurring financial charges | 65 | €2,276 | €2,446 | +€170 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €110,722 | €139,246 | +€28,524 | +25.8% |
| Income taxes | 67/77 | €23,150 | €30,825 | +€7,675 | +33.2% |
| Profit (loss) for the period | 9904 | €87,572 | €108,421 | +€20,849 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,572 | €108,421 | +€20,849 | +23.8% |
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 17 October 2026 via checked.be.