EDWARDS: 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.
EDWARDS
Largest movements
- Receivables within one year -€157,206
down €157,206 (-77.3%), from €203,292 to €46,086
of which Trade receivables: -€159,373
- Tangible fixed assets -€86,135
down €86,135 (-8.3%), from €1.0m to €955,034
of which Land and buildings: -€60,485
- Debts after one year -€95,366
down €95,366 (-18.5%), from €516,709 to €421,343
- Reserves -€47,504
down €47,504 (-11.3%), from €420,216 to €372,712
- Advances received -€42,596
no longer reported in 2024 (was €42,596)
- Trade debts -€35,497
down €35,497 (-15.3%), from €232,650 to €197,153
- Gross operating margin -€84,485
down €84,485 (-21.1%), from €400,834 to €316,349
- Staff costs -€46,203
down €46,203 (-17.3%), from €266,898 to €220,696
- Financial charges +€8,107
up €8,107 (+22.3%), from €36,272 to €44,379
- Depreciation -€6,592
down €6,592 (-7.1%), from €92,727 to €86,135
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,702,755 | €1,452,254 | -€250,501 | -14.7% |
| Fixed assets | 21/28 | €1,048,009 | €961,874 | -€86,135 | -8.2% |
| Tangible fixed assets | 22/27 | €1,041,170 | €955,034 | -€86,135 | -8.3% |
| Land and buildings | 22 | €892,810 | €832,324 | -€60,485 | -6.8% |
| Plant, machinery and equipment | 23 | €139,846 | €116,695 | -€23,151 | -16.6% |
| Furniture and vehicles | 24 | €8,514 | €6,015 | -€2,499 | -29.4% |
| Financial fixed assets | 28 | €6,840 | €6,840 | = | 0.0% |
| Current assets | 29/58 | €654,746 | €490,380 | -€164,366 | -25.1% |
| Stocks and contracts in progress | 3 | €418,238 | €410,008 | -€8,230 | -2.0% |
| Stocks | 30/36 | €418,238 | €410,008 | -€8,230 | -2.0% |
| Amounts receivable within one year | 40/41 | €203,292 | €46,086 | -€157,206 | -77.3% |
| Trade receivables | 40 | €159,373 | - | -€159,373 | |
| Other amounts receivable | 41 | €43,919 | €46,086 | +€2,167 | +4.9% |
| Cash at bank and in hand | 54/58 | €16,453 | €22,640 | +€6,188 | +37.6% |
| Deferred charges and accrued income | 490/1 | €16,763 | €11,646 | -€5,118 | -30.5% |
| Total equity and liabilities | 10/49 | €1,702,755 | €1,452,254 | -€250,501 | -14.7% |
| Equity | 10/15 | €426,886 | €379,382 | -€47,504 | -11.1% |
| Contributions | 10/11 | €6,670 | €6,670 | = | 0.0% |
| Reserves | 13 | €420,216 | €372,712 | -€47,504 | -11.3% |
| Distributable reserves | 133 | €420,216 | €372,712 | -€47,504 | -11.3% |
| Amounts payable | 17/49 | €1,275,869 | €1,072,872 | -€202,997 | -15.9% |
| Amounts payable after more than one year | 17 | €516,709 | €421,343 | -€95,366 | -18.5% |
| Financial debts | 170/4 | €516,709 | €421,343 | -€95,366 | -18.5% |
| Amounts payable within one year | 42/48 | €759,159 | €651,528 | -€107,631 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €101,874 | €95,366 | -€6,508 | -6.4% |
| Financial debts | 43 | €329,832 | €323,442 | -€6,390 | -1.9% |
| Credit institutions | 430/8 | €329,832 | €323,442 | -€6,390 | -1.9% |
| Trade debts | 44 | €232,650 | €197,153 | -€35,497 | -15.3% |
| Suppliers | 440/4 | €232,650 | €197,153 | -€35,497 | -15.3% |
| Advances received on contracts in progress | 46 | €42,596 | - | -€42,596 | |
| Taxes, remuneration and social security | 45 | €15,099 | €348 | -€14,751 | -97.7% |
| Taxes | 450/3 | €2,957 | €348 | -€2,609 | -88.2% |
| Remuneration and social security | 454/9 | €12,142 | - | -€12,142 | |
| Other amounts payable | 47/48 | €37,109 | €35,219 | -€1,889 | -5.1% |
| Non-recurring operating income | 76A | - | €64,740 | +€64,740 | |
| Remuneration, social security and pensions | 62 | €266,898 | €220,696 | -€46,203 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,727 | €86,135 | -€6,592 | -7.1% |
| Other operating charges | 640/8 | €13,599 | €12,990 | -€609 | -4.5% |
| Gross operating margin | 9900 | €400,834 | €316,349 | -€84,485 | -21.1% |
| Operating profit (loss) | 9901 | €27,609 | -€3,472 | -€31,082 | |
| Financial income | 75/76B | €1,205 | €695 | -€510 | -42.3% |
| Recurring financial income | 75 | €1,205 | €695 | -€510 | -42.3% |
| Financial charges | 65/66B | €36,272 | €44,379 | +€8,107 | +22.3% |
| Recurring financial charges | 65 | €36,272 | €44,379 | +€8,107 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,458 | -€47,156 | -€39,698 | -532.3% |
| Income taxes | 67/77 | €338 | €348 | +€10 | +3.0% |
| Profit (loss) for the period | 9904 | -€7,796 | -€47,504 | -€39,708 | -509.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,796 | -€47,504 | -€39,708 | -509.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.