EEEN: 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.
EEEN
Largest movements
- Tangible fixed assets -€213,858
down €213,858 (-29.3%), from €730,054 to €516,196
of which Land and buildings: -€203,736
- Receivables within one year -€212,506
down €212,506 (-61.2%), from €346,994 to €134,488
of which Other amounts receivable: -€192,207
- Cash +€59,859
up €59,859 (+7,890%), from €759 to €60,618
mainly Receivables within one year (+€212,506) and Investment in fixed assets (net) (+€174,627)
- Reserves -€256,945
down €256,945 (-44.4%), from €578,947 to €322,003
of which Distributable reserves: -€254,593
- Debts after one year -€144,090
down €144,090 (-39.0%), from €369,587 to €225,497
- Tax, wage and social debts +€87,285
up €87,285 (+5,815%), from €1,501 to €88,786
- Short-term financial debts -€24,625
no longer reported in 2025 (was €24,625)
- Trade debts -€15,181
down €15,181 (-82.9%), from €18,319 to €3,139
- Gross operating margin +€177,509
up €177,509 (+389%), from €45,642 to €223,151
- Taxes +€62,762
up €62,762 (+769%), from €8,159 to €70,921
- Other operating charges +€11,787
up €11,787 (+364%), from €3,239 to €15,025
- Depreciation +€10,119
up €10,119 (+34.8%), from €29,113 to €39,231
- Financial charges +€4,927
up €4,927 (+49.3%), from €9,986 to €14,913
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 | €1,078,707 | €721,202 | -€357,505 | -33.1% |
| Fixed assets | 21/28 | €730,954 | €517,096 | -€213,858 | -29.3% |
| Tangible fixed assets | 22/27 | €730,054 | €516,196 | -€213,858 | -29.3% |
| Land and buildings | 22 | €607,243 | €403,508 | -€203,736 | -33.6% |
| Plant, machinery and equipment | 23 | €5,134 | €1,721 | -€3,414 | -66.5% |
| Furniture and vehicles | 24 | €117,676 | €102,339 | -€15,338 | -13.0% |
| Other tangible fixed assets | 26 | - | €8,629 | +€8,629 | |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €347,753 | €204,106 | -€143,647 | -41.3% |
| Amounts receivable within one year | 40/41 | €346,994 | €134,488 | -€212,506 | -61.2% |
| Trade receivables | 40 | €36,059 | €15,760 | -€20,299 | -56.3% |
| Other amounts receivable | 41 | €310,936 | €118,728 | -€192,207 | -61.8% |
| Cash at bank and in hand | 54/58 | €759 | €60,618 | +€59,859 | +7,890% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €1,078,707 | €721,202 | -€357,505 | -33.1% |
| Equity | 10/15 | €591,347 | €334,403 | -€256,945 | -43.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €578,947 | €322,003 | -€256,945 | -44.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,164 | €68,812 | -€2,352 | -3.3% |
| Distributable reserves | 133 | €505,924 | €251,331 | -€254,593 | -50.3% |
| Provisions and deferred taxes | 16 | €23,721 | €22,937 | -€784 | -3.3% |
| Deferred taxes | 168 | €23,721 | €22,937 | -€784 | -3.3% |
| Amounts payable | 17/49 | €463,639 | €363,862 | -€99,777 | -21.5% |
| Amounts payable after more than one year | 17 | €369,587 | €225,497 | -€144,090 | -39.0% |
| Financial debts | 170/4 | €369,587 | €225,497 | -€144,090 | -39.0% |
| Amounts payable within one year | 42/48 | €93,652 | €138,366 | +€44,714 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €46,931 | €33,426 | -€13,505 | -28.8% |
| Financial debts | 43 | €24,625 | - | -€24,625 | |
| Credit institutions | 430/8 | €24,625 | - | -€24,625 | |
| Trade debts | 44 | €18,319 | €3,139 | -€15,181 | -82.9% |
| Suppliers | 440/4 | €18,319 | €3,139 | -€15,181 | -82.9% |
| Advances received on contracts in progress | 46 | €150 | €10,890 | +€10,740 | +7,160% |
| Taxes, remuneration and social security | 45 | €1,501 | €88,786 | +€87,285 | +5,815% |
| Taxes | 450/3 | €1,501 | €88,786 | +€87,285 | +5,815% |
| Other amounts payable | 47/48 | €2,126 | €2,126 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Non-recurring operating income | 76A | - | €144,363 | +€144,363 | |
| Remuneration, social security and pensions | 62 | €1,920 | €1,920 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,113 | €39,231 | +€10,119 | +34.8% |
| Other operating charges | 640/8 | €3,239 | €15,025 | +€11,787 | +364% |
| Gross operating margin | 9900 | €45,642 | €223,151 | +€177,509 | +389% |
| Operating profit (loss) | 9901 | €11,370 | €166,974 | +€155,604 | +1,369% |
| Financial income | 75/76B | €1,936 | €23 | -€1,913 | -98.8% |
| Recurring financial income | 75 | €1,936 | €23 | -€1,913 | -98.8% |
| Financial charges | 65/66B | €9,986 | €14,913 | +€4,927 | +49.3% |
| Recurring financial charges | 65 | €9,986 | €14,913 | +€4,927 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €3,320 | €152,083 | +€148,764 | +4,481% |
| Transfer from deferred taxes | 780 | €784 | €784 | = | 0.0% |
| Income taxes | 67/77 | €8,159 | €70,921 | +€62,762 | +769% |
| Profit (loss) for the period | 9904 | -€4,056 | €81,946 | +€86,002 | |
| Transfer from tax-exempt reserves | 789 | €2,352 | €2,352 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,704 | €84,298 | +€86,002 |
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 28 October 2026 via checked.be.