EECKHOUT & TERMOTE: 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.
EECKHOUT & TERMOTE
Largest movements
- Stocks and contracts +€221,221
up €221,221 (+73.1%), from €302,576 to €523,796
- Receivables within one year +€164,852
up €164,852 (+239%), from €68,954 to €233,805
of which Trade receivables: +€164,943
- Cash -€95,356
down €95,356 (-61.9%), from €154,082 to €58,726
mainly Stocks and contracts (-€221,221) and Receivables within one year (-€164,852)
- Tangible fixed assets +€38,590
up €38,590 (+31.1%), from €124,165 to €162,756
of which Furniture and vehicles: +€46,669
- Trade debts +€195,945
up €195,945 (+108%), from €180,945 to €376,891
- Accrued charges and deferred income +€50,990
up €50,990 (+40.3%), from €126,495 to €177,484
- Profit (loss) carried forward +€44,576
up €44,576 (+36.1%), from €123,397 to €167,973
- Short-term financial debts +€17,754
up €17,754 (+20.5%), from €86,413 to €104,167
- Gross operating margin +€41,746
up €41,746 (+21.0%), from €198,693 to €240,439
- Staff costs +€14,708
up €14,708 (+13.8%), from €106,553 to €121,262
- Depreciation +€4,648
up €4,648 (+14.5%), from €31,984 to €36,632
- Taxes +€4,031
up €4,031 (+28.7%), from €14,039 to €18,070
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 | €649,776 | €979,083 | +€329,307 | +50.7% |
| Fixed assets | 21/28 | €124,165 | €162,756 | +€38,590 | +31.1% |
| Tangible fixed assets | 22/27 | €124,165 | €162,756 | +€38,590 | +31.1% |
| Plant, machinery and equipment | 23 | €45,083 | €44,363 | -€720 | -1.6% |
| Furniture and vehicles | 24 | €44,331 | €91,000 | +€46,669 | +105% |
| Other tangible fixed assets | 26 | €34,752 | €27,393 | -€7,359 | -21.2% |
| Current assets | 29/58 | €525,611 | €816,327 | +€290,716 | +55.3% |
| Stocks and contracts in progress | 3 | €302,576 | €523,796 | +€221,221 | +73.1% |
| Stocks | 30/36 | €302,576 | €523,796 | +€221,221 | +73.1% |
| Amounts receivable within one year | 40/41 | €68,954 | €233,805 | +€164,852 | +239% |
| Trade receivables | 40 | €68,862 | €233,805 | +€164,943 | +240% |
| Other amounts receivable | 41 | €91 | - | -€91 | |
| Cash at bank and in hand | 54/58 | €154,082 | €58,726 | -€95,356 | -61.9% |
| Total equity and liabilities | 10/49 | €649,776 | €979,083 | +€329,307 | +50.7% |
| Equity | 10/15 | €142,257 | €186,833 | +€44,576 | +31.3% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Contributions outside capital | 11 | €17,000 | €17,000 | = | 0.0% |
| Other | 1109/19 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,397 | €167,973 | +€44,576 | +36.1% |
| Amounts payable | 17/49 | €507,520 | €792,250 | +€284,731 | +56.1% |
| Amounts payable after more than one year | 17 | €42,636 | €49,866 | +€7,230 | +17.0% |
| Financial debts | 170/4 | €42,636 | €49,866 | +€7,230 | +17.0% |
| Amounts payable within one year | 42/48 | €338,389 | €564,900 | +€226,511 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €40,109 | €46,309 | +€6,200 | +15.5% |
| Financial debts | 43 | €86,413 | €104,167 | +€17,754 | +20.5% |
| Credit institutions | 430/8 | €86,413 | €104,167 | +€17,754 | +20.5% |
| Trade debts | 44 | €180,945 | €376,891 | +€195,945 | +108% |
| Suppliers | 440/4 | €180,945 | €376,891 | +€195,945 | +108% |
| Taxes, remuneration and social security | 45 | €30,921 | €37,533 | +€6,612 | +21.4% |
| Taxes | 450/3 | €15,829 | €23,045 | +€7,217 | +45.6% |
| Remuneration and social security | 454/9 | €15,093 | €14,488 | -€605 | -4.0% |
| Accrued charges and deferred income | 492/3 | €126,495 | €177,484 | +€50,990 | +40.3% |
| Remuneration, social security and pensions | 62 | €106,553 | €121,262 | +€14,708 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,984 | €36,632 | +€4,648 | +14.5% |
| Other operating charges | 640/8 | €7,292 | €9,132 | +€1,840 | +25.2% |
| Gross operating margin | 9900 | €198,693 | €240,439 | +€41,746 | +21.0% |
| Operating profit (loss) | 9901 | €52,863 | €73,413 | +€20,550 | +38.9% |
| Financial income | 75/76B | €972 | €576 | -€395 | -40.7% |
| Recurring financial income | 75 | €972 | €576 | -€395 | -40.7% |
| Financial charges | 65/66B | €11,710 | €11,343 | -€367 | -3.1% |
| Recurring financial charges | 65 | €11,710 | €11,343 | -€367 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €42,125 | €62,646 | +€20,521 | +48.7% |
| Income taxes | 67/77 | €14,039 | €18,070 | +€4,031 | +28.7% |
| Profit (loss) for the period | 9904 | €28,086 | €44,576 | +€16,490 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,086 | €44,576 | +€16,490 | +58.7% |
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 18 October 2026 via checked.be.