EEG: 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.
What changed
EEG
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€158,286
2024 · -€1.2m+€1.4m
Equity
€26.3m
2024 · €26.1m+€158,286
Cash
€2.3m
2024 · €958,435+€1.3m
Balance sheet total
€84.0m
2024 · €84.4m-€346,188
Largest movements
Assets
- Stocks and contracts -€4.0m
down €4.0m (-24.8%), from €16.0m to €12.0m
of which Contracts in progress: -€3.6m
- Financial fixed assets +€3.1m
up €3.1m (+598.5%), from €511,666 to €3.6m
of which Affiliated companies: +€3.1m
- Receivables within one year +€2.6m
up €2.6m (+5.0%), from €52.7m to €55.4m
of which Other amounts receivable: +€3.6m
- Intangible fixed assets -€1.9m
down €1.9m (-21.1%), from €9.0m to €7.1m
- Cash +€1.3m
up €1.3m (+135.4%), from €958,435 to €2.3m
mainly Advances received (+€6.5m) and Stocks and contracts (+€4.0m)
Equity and liabilities
- Short-term financial debts -€7.4m
down €7.4m (-46.2%), from €16.1m to €8.7m
- Advances received +€6.5m
up €6.5m (+175.5%), from €3.7m to €10.3m
- Trade debts +€3.1m
up €3.1m (+13.2%), from €23.1m to €26.2m
- Debts after one year +€3.1m
up €3.1m (+184.9%), from €1.6m to €4.7m
- Other debts -€2.1m
down €2.1m (-90.0%), from €2.3m to €228,158
Income statement
- Turnover +€15.5m
up €15.5m (+10.8%), from €143.2m to €158.7m
- Goods and materials +€12.1m
up €12.1m (+14.1%), from €85.8m to €97.9m
of which Purchases: +€12.9m
- Provisions -€3.6m
down €3.6m, from €1.6m to -€2.0m
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.
Result 2024
-€1.2m
Turnover
+€15.5m
Other operating income
+€1.2m
Goods and materials
-€12.1m
Services and other goods
-€771,020
Staff costs
-€496,219
Depreciation
-€295,481
Write-downs
-€668,040
Provisions
+€3.6m
Other operating charges
-€262,331
Other operating items
-€3.2m
Financial income
-€1.1m
Financial charges
+€330,704
Taxes
-€408,329
Deferred taxes and other
-€7,590
Result 2025
€158,286
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.
From operations
+€9.7m
Investment
-€3.4m
Financing
-€5.0m
Cash 2024
€958,435
From operations (derived)
+€9.7m
Net result for the year
+€158,286
Depreciation
+€3.4m
Receivables after one year
+€12,154
Stocks and contracts
+€4.0m
Receivables within one year
-€2.6m
Deferred charges and accrued income
+€279,164
Provisions
-€2.0m
Trade debts
+€3.1m
Tax, wage and social debts
-€1.2m
Advances received
+€6.5m
Other debts
-€2.1m
Accrued charges and deferred income
+€125,927
Investment (derived)
-€3.4m
Investment in fixed assets (net)
-€3.4m
Financing
-€5.0m
Debts after one year
+€3.1m
Current portion of long-term debt
-€613,314
Short-term financial debts
-€7.4m
Cash 2025
€2.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,353,762 | €84,007,574 | -€346,188 | -0.4% |
| Fixed assets | 21/28 | €13,796,247 | €13,766,231 | -€30,016 | -0.2% |
| Intangible fixed assets | 21 | €8,981,068 | €7,084,773 | -€1.9m | -21.1% |
| Tangible fixed assets | 22/27 | €4,303,513 | €3,107,233 | -€1.2m | -27.8% |
| Land and buildings | 22 | €36,156 | €20,868 | -€15,287 | -42.3% |
| Plant, machinery and equipment | 23 | €932,457 | €610,477 | -€321,980 | -34.5% |
| Furniture and vehicles | 24 | €1,220,801 | €1,093,858 | -€126,943 | -10.4% |
| Leasing and similar rights | 25 | €1,181,442 | €469,255 | -€712,188 | -60.3% |
| Other tangible fixed assets | 26 | €834,751 | €790,911 | -€43,840 | -5.3% |
| Assets under construction and advance payments | 27 | €97,906 | €121,863 | +€23,957 | +24.5% |
| Financial fixed assets | 28 | €511,666 | €3,574,226 | +€3.1m | +598.5% |
| Affiliated companies | 280/1 | €45,750 | €3,108,250 | +€3.1m | +6694.0% |
| Participating interests | 280 | €45,750 | €3,108,250 | +€3.1m | +6694.0% |
| Companies linked by participating interests | 282/3 | €7,688 | €7,688 | = | 0.0% |
| Participating interests | 282 | €7,688 | €7,688 | = | 0.0% |
| Other financial fixed assets | 284/8 | €458,228 | €458,288 | +€60 | 0.0% |
| Shares | 284 | €85,625 | €62,725 | -€22,900 | -26.7% |
| Amounts receivable and cash guarantees | 285/8 | €372,603 | €395,563 | +€22,960 | +6.2% |
| Current assets | 29/58 | €70,557,515 | €70,241,343 | -€316,171 | -0.4% |
| Amounts receivable after more than one year | 29 | €12,154 | - | -€12,154 | |
| Other amounts receivable | 291 | €12,154 | - | -€12,154 | |
| Stocks and contracts in progress | 3 | €15,999,858 | €12,033,900 | -€4.0m | -24.8% |
| Stocks | 30/36 | €4,581,366 | €4,190,139 | -€391,227 | -8.5% |
| Raw materials and consumables | 30/31 | €4,337,401 | €4,008,475 | -€328,926 | -7.6% |
| Work in progress | 32 | €243,964 | €181,664 | -€62,301 | -25.5% |
| Contracts in progress | 37 | €11,418,492 | €7,843,761 | -€3.6m | -31.3% |
| Amounts receivable within one year | 40/41 | €52,741,426 | €55,385,087 | +€2.6m | +5.0% |
| Trade receivables | 40 | €46,466,827 | €45,473,834 | -€992,993 | -2.1% |
| Other amounts receivable | 41 | €6,274,599 | €9,911,253 | +€3.6m | +58.0% |
| Cash at bank and in hand | 54/58 | €958,435 | €2,255,879 | +€1.3m | +135.4% |
| Deferred charges and accrued income | 490/1 | €845,641 | €566,477 | -€279,164 | -33.0% |
| Total equity and liabilities | 10/49 | €84,353,762 | €84,007,574 | -€346,188 | -0.4% |
| Equity | 10/15 | €26,122,364 | €26,280,650 | +€158,286 | +0.6% |
| Contributions | 10/11 | €1,028,356 | €1,028,356 | = | 0.0% |
| Capital | 10 | €1,028,219 | €1,028,219 | = | 0.0% |
| Issued capital | 100 | €1,028,219 | €1,028,219 | = | 0.0% |
| Outside capital | 11 | €138 | €138 | = | 0.0% |
| Share premium | 1100/10 | €138 | €138 | = | 0.0% |
| Reserves | 13 | €25,094,008 | €25,094,008 | = | 0.0% |
| Non-distributable reserves | 130/1 | €102,822 | €102,822 | = | 0.0% |
| Legal reserve | 130 | €102,822 | €102,822 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,702,277 | €17,702,277 | = | 0.0% |
| Distributable reserves | 133 | €7,288,909 | €7,288,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €158,286 | +€158,286 | |
| Provisions and deferred taxes | 16 | €2,588,876 | €585,623 | -€2.0m | -77.4% |
| Provisions for liabilities and charges | 160/5 | €2,588,876 | €585,623 | -€2.0m | -77.4% |
| Other liabilities and charges | 164/5 | €2,588,876 | €585,623 | -€2.0m | -77.4% |
| Amounts payable | 17/49 | €55,642,522 | €57,141,301 | +€1.5m | +2.7% |
| Amounts payable after more than one year | 17 | €1,649,444 | €4,699,467 | +€3.1m | +184.9% |
| Financial debts | 170/4 | €1,649,444 | €4,699,467 | +€3.1m | +184.9% |
| Leasing and similar obligations | 172 | €438,849 | €353,944 | -€84,906 | -19.3% |
| Credit institutions | 173 | €1,210,595 | €4,345,524 | +€3.1m | +259.0% |
| Amounts payable within one year | 42/48 | €52,242,153 | €50,564,982 | -€1.7m | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €1,396,804 | €783,491 | -€613,314 | -43.9% |
| Financial debts | 43 | €16,087,932 | €8,660,324 | -€7.4m | -46.2% |
| Credit institutions | 430/8 | €16,087,932 | €8,660,324 | -€7.4m | -46.2% |
| Trade debts | 44 | €23,114,779 | €26,165,894 | +€3.1m | +13.2% |
| Suppliers | 440/4 | €23,114,779 | €26,165,894 | +€3.1m | +13.2% |
| Advances received on contracts in progress | 46 | €3,726,243 | €10,267,459 | +€6.5m | +175.5% |
| Taxes, remuneration and social security | 45 | €5,632,748 | €4,459,657 | -€1.2m | -20.8% |
| Taxes | 450/3 | €1,136,046 | €520,796 | -€615,251 | -54.2% |
| Remuneration and social security | 454/9 | €4,496,701 | €3,938,861 | -€557,841 | -12.4% |
| Other amounts payable | 47/48 | €2,283,647 | €228,158 | -€2.1m | -90.0% |
| Accrued charges and deferred income | 492/3 | €1,750,925 | €1,876,851 | +€125,927 | +7.2% |
| Operating income | 70/76A | €147,906,396 | €161,027,482 | +€13.1m | +8.9% |
| Turnover | 70 | €143,165,325 | €158,677,832 | +€15.5m | +10.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €87,087 | -€3,637,032 | -€3.7m | |
| Own construction capitalised | 72 | - | €61,118 | +€61,118 | |
| Other operating income | 74 | €4,653,984 | €5,865,146 | +€1.2m | +26.0% |
| Non-recurring operating income | 76A | - | €60,418 | +€60,418 | |
| Operating charges | 60/66A | €148,766,991 | €159,380,466 | +€10.6m | +7.1% |
| Goods for resale, raw materials and consumables | 60 | €85,797,129 | €97,902,320 | +€12.1m | +14.1% |
| Purchases | 600/8 | €84,667,621 | €97,573,394 | +€12.9m | +15.2% |
| Change in stocks: decrease (increase) | 609 | €1,129,508 | €328,926 | -€800,582 | -70.9% |
| Services and other goods | 61 | €17,327,070 | €18,098,090 | +€771,020 | +4.4% |
| Remuneration, social security and pensions | 62 | €39,970,178 | €40,466,396 | +€496,219 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,097,640 | €3,393,122 | +€295,481 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€56,719 | €611,321 | +€668,040 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,593,646 | -€2,003,253 | -€3.6m | |
| Other operating charges | 640/8 | €149,975 | €412,306 | +€262,331 | +174.9% |
| Non-recurring operating charges | 66A | €888,071 | €500,163 | -€387,909 | -43.7% |
| Operating profit (loss) | 9901 | -€860,595 | €1,647,016 | +€2.5m | |
| Financial income | 75/76B | €1,179,146 | €116,505 | -€1.1m | -90.1% |
| Recurring financial income | 75 | €190,834 | €116,505 | -€74,329 | -38.9% |
| Income from current assets | 751 | €127,665 | €13,040 | -€114,626 | -89.8% |
| Other financial income | 752/9 | €63,169 | €103,465 | +€40,297 | +63.8% |
| Non-recurring financial income | 76B | €988,312 | - | -€988,312 | |
| Financial charges | 65/66B | €1,199,472 | €868,768 | -€330,704 | -27.6% |
| Recurring financial charges | 65 | €1,199,472 | €853,768 | -€345,704 | -28.8% |
| Debt charges | 650 | €1,010,390 | €643,989 | -€366,402 | -36.3% |
| Other financial charges | 652/9 | €189,082 | €209,779 | +€20,698 | +10.9% |
| Non-recurring financial charges | 66B | - | €15,000 | +€15,000 | |
| Profit (loss) for the period before taxes | 9903 | -€880,921 | €894,753 | +€1.8m | |
| Transfer from deferred taxes | 780 | €7,590 | - | -€7,590 | |
| Income taxes | 67/77 | €328,137 | €736,467 | +€408,329 | +124.4% |
| Taxes | 670/3 | €328,137 | €736,467 | +€408,329 | +124.4% |
| Profit (loss) for the period | 9904 | -€1,201,468 | €158,286 | +€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,201,468 | €158,286 | +€1.4m |
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 30 September 2026 via checked.be.