EE: 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.
EE
Largest movements
- Tangible fixed assets -€96,868
down €96,868 (-14.5%), from €669,693 to €572,825
of which Land and buildings: -€94,417
- Receivables within one year +€21,691
up €21,691 (+69.4%), from €31,270 to €52,960
of which Trade receivables: +€21,410
- Cash +€17,177
up €17,177 (+19.3%), from €88,881 to €106,058
mainly Depreciation (+€94,844) and Net result for the year (+€71,893)
- Contributions -€114,425
down €114,425 (-95.4%), from €120,000 to €5,575
- Reserves +€71,893
up €71,893 (+55.4%), from €129,878 to €201,770
- Debts after one year -€19,000
down €19,000 (-5.8%), from €326,838 to €307,838
- Tax, wage and social debts -€16,740
down €16,740 (-35.8%), from €46,744 to €30,004
of which Taxes: -€18,445
- Current portion of long-term debt +€8,529
up €8,529 (+17.2%), from €49,607 to €58,136
- Gross operating margin +€39,703
up €39,703 (+21.4%), from €185,927 to €225,629
- Financial income +€21,024
up €21,024 (+70220.6%), from €30 to €21,054
of which Non-recurring financial income: +€20,970
- Depreciation -€10,268
down €10,268 (-9.8%), from €105,112 to €94,844
- Taxes +€8,844
up €8,844 (+117.1%), from €7,554 to €16,399
- Staff costs +€7,279
up €7,279 (+26.1%), from €27,894 to €35,173
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 | €799,273 | €741,655 | -€57,619 | -7.2% |
| Fixed assets | 21/28 | €669,901 | €572,930 | -€96,971 | -14.5% |
| Intangible fixed assets | 21 | €208 | €105 | -€103 | -49.4% |
| Tangible fixed assets | 22/27 | €669,693 | €572,825 | -€96,868 | -14.5% |
| Land and buildings | 22 | €404,414 | €309,997 | -€94,417 | -23.3% |
| Plant, machinery and equipment | 23 | €201,985 | €189,096 | -€12,889 | -6.4% |
| Furniture and vehicles | 24 | €63,295 | €73,732 | +€10,437 | +16.5% |
| Current assets | 29/58 | €129,372 | €168,724 | +€39,353 | +30.4% |
| Amounts receivable within one year | 40/41 | €31,270 | €52,960 | +€21,691 | +69.4% |
| Trade receivables | 40 | €31,270 | €52,680 | +€21,410 | +68.5% |
| Other amounts receivable | 41 | - | €280 | +€280 | |
| Cash at bank and in hand | 54/58 | €88,881 | €106,058 | +€17,177 | +19.3% |
| Deferred charges and accrued income | 490/1 | €9,221 | €9,706 | +€485 | +5.3% |
| Total equity and liabilities | 10/49 | €799,273 | €741,655 | -€57,619 | -7.2% |
| Equity | 10/15 | €249,878 | €207,345 | -€42,532 | -17.0% |
| Contributions | 10/11 | €120,000 | €5,575 | -€114,425 | -95.4% |
| Reserves | 13 | €129,878 | €201,770 | +€71,893 | +55.4% |
| Distributable reserves | 133 | €129,878 | €201,770 | +€71,893 | +55.4% |
| Amounts payable | 17/49 | €549,396 | €534,309 | -€15,087 | -2.7% |
| Amounts payable after more than one year | 17 | €326,838 | €307,838 | -€19,000 | -5.8% |
| Financial debts | 170/4 | €326,838 | €307,838 | -€19,000 | -5.8% |
| Amounts payable within one year | 42/48 | €222,557 | €226,471 | +€3,913 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €49,607 | €58,136 | +€8,529 | +17.2% |
| Trade debts | 44 | €19,135 | €24,566 | +€5,431 | +28.4% |
| Suppliers | 440/4 | €19,135 | €24,566 | +€5,431 | +28.4% |
| Advances received on contracts in progress | 46 | €140 | - | -€140 | |
| Taxes, remuneration and social security | 45 | €46,744 | €30,004 | -€16,740 | -35.8% |
| Taxes | 450/3 | €44,911 | €26,466 | -€18,445 | -41.1% |
| Remuneration and social security | 454/9 | €1,833 | €3,538 | +€1,705 | +93.0% |
| Other amounts payable | 47/48 | €106,932 | €113,765 | +€6,833 | +6.4% |
| Remuneration, social security and pensions | 62 | €27,894 | €35,173 | +€7,279 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,112 | €94,844 | -€10,268 | -9.8% |
| Other operating charges | 640/8 | €10,432 | €14,363 | +€3,931 | +37.7% |
| Gross operating margin | 9900 | €185,927 | €225,629 | +€39,703 | +21.4% |
| Operating profit (loss) | 9901 | €42,489 | €81,249 | +€38,761 | +91.2% |
| Financial income | 75/76B | €30 | €21,054 | +€21,024 | +70220.6% |
| Recurring financial income | 75 | €30 | €84 | +€54 | +179.3% |
| Non-recurring financial income | 76B | - | €20,970 | +€20,970 | |
| Financial charges | 65/66B | €15,410 | €14,012 | -€1,398 | -9.1% |
| Recurring financial charges | 65 | €15,410 | €14,012 | -€1,398 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €27,109 | €88,291 | +€61,183 | +225.7% |
| Income taxes | 67/77 | €7,554 | €16,399 | +€8,844 | +117.1% |
| Profit (loss) for the period | 9904 | €19,555 | €71,893 | +€52,338 | +267.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,555 | €71,893 | +€52,338 | +267.7% |
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 8 October 2026 via checked.be.