EETCLUSIEF: 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.
EETCLUSIEF
Largest movements
- Tangible fixed assets -€56,168
down €56,168 (-18.0%), from €312,765 to €256,597
of which Furniture and vehicles: -€29,051
- Cash -€36,432
down €36,432 (-33.8%), from €107,771 to €71,339
mainly Net result for the year (-€88,109) and Other debts (-€50,208)
- Receivables within one year -€13,978
down €13,978 (-5.0%), from €281,301 to €267,324
of which Trade receivables: -€24,367
- Deferred charges and accrued income -€13,797
down €13,797 (-76.0%), from €18,150 to €4,353
- Profit (loss) carried forward -€88,109
new in 2025: -€88,109
- Tax, wage and social debts +€55,172
up €55,172 (+94.9%), from €58,138 to €113,310
of which Taxes: +€28,038
- Other debts -€50,208
down €50,208 (-99.4%), from €50,505 to €298
- Debts after one year -€41,350
down €41,350 (-22.6%), from €183,217 to €141,866
- Trade debts +€13,459
up €13,459 (+14.8%), from €90,834 to €104,293
- Staff costs +€110,770
up €110,770 (+22.0%), from €504,543 to €615,313
- Gross operating margin -€75,259
down €75,259 (-11.0%), from €682,491 to €607,231
- Taxes -€19,538
down €19,538 (-72.9%), from €26,793 to €7,255
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 | €731,676 | €609,387 | -€122,289 | -16.7% |
| Fixed assets | 21/28 | €312,889 | €256,721 | -€56,168 | -18.0% |
| Tangible fixed assets | 22/27 | €312,765 | €256,597 | -€56,168 | -18.0% |
| Land and buildings | 22 | €189,827 | €175,127 | -€14,700 | -7.7% |
| Plant, machinery and equipment | 23 | €51,165 | €38,747 | -€12,417 | -24.3% |
| Furniture and vehicles | 24 | €71,773 | €42,722 | -€29,051 | -40.5% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €418,787 | €352,667 | -€66,121 | -15.8% |
| Stocks and contracts in progress | 3 | €11,565 | €9,651 | -€1,914 | -16.5% |
| Stocks | 30/36 | €11,565 | €9,651 | -€1,914 | -16.5% |
| Amounts receivable within one year | 40/41 | €281,301 | €267,324 | -€13,978 | -5.0% |
| Trade receivables | 40 | €271,656 | €247,289 | -€24,367 | -9.0% |
| Other amounts receivable | 41 | €9,646 | €20,035 | +€10,389 | +107.7% |
| Cash at bank and in hand | 54/58 | €107,771 | €71,339 | -€36,432 | -33.8% |
| Deferred charges and accrued income | 490/1 | €18,150 | €4,353 | -€13,797 | -76.0% |
| Total equity and liabilities | 10/49 | €731,676 | €609,387 | -€122,289 | -16.7% |
| Equity | 10/15 | €287,179 | €199,070 | -€88,109 | -30.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €256,192 | €256,192 | = | 0.0% |
| Distributable reserves | 133 | €256,192 | €256,192 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€88,109 | -€88,109 | |
| Provisions and deferred taxes | 16 | €9,000 | €9,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,000 | €9,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable | 17/49 | €435,498 | €401,318 | -€34,180 | -7.8% |
| Amounts payable after more than one year | 17 | €183,217 | €141,866 | -€41,350 | -22.6% |
| Financial debts | 170/4 | €183,217 | €141,866 | -€41,350 | -22.6% |
| Amounts payable within one year | 42/48 | €240,281 | €259,251 | +€18,970 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €40,803 | €41,350 | +€547 | +1.3% |
| Trade debts | 44 | €90,834 | €104,293 | +€13,459 | +14.8% |
| Suppliers | 440/4 | €90,834 | €104,293 | +€13,459 | +14.8% |
| Taxes, remuneration and social security | 45 | €58,138 | €113,310 | +€55,172 | +94.9% |
| Taxes | 450/3 | €4,608 | €32,647 | +€28,038 | +608.4% |
| Remuneration and social security | 454/9 | €53,530 | €80,663 | +€27,133 | +50.7% |
| Other amounts payable | 47/48 | €50,505 | €298 | -€50,208 | -99.4% |
| Accrued charges and deferred income | 492/3 | €12,000 | €201 | -€11,799 | -98.3% |
| Non-recurring operating income | 76A | €4,200 | - | -€4,200 | |
| Remuneration, social security and pensions | 62 | €504,543 | €615,313 | +€110,770 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,156 | €56,168 | +€3,012 | +5.7% |
| Other operating charges | 640/8 | €6,663 | €6,130 | -€533 | -8.0% |
| Gross operating margin | 9900 | €682,491 | €607,231 | -€75,259 | -11.0% |
| Operating profit (loss) | 9901 | €118,129 | -€70,380 | -€188,509 | |
| Financial income | 75/76B | €548 | €226 | -€322 | -58.8% |
| Recurring financial income | 75 | €548 | €226 | -€322 | -58.8% |
| Financial charges | 65/66B | €12,641 | €10,700 | -€1,941 | -15.4% |
| Recurring financial charges | 65 | €12,641 | €10,700 | -€1,941 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €106,036 | -€80,854 | -€186,890 | |
| Income taxes | 67/77 | €26,793 | €7,255 | -€19,538 | -72.9% |
| Profit (loss) for the period | 9904 | €79,243 | -€88,109 | -€167,352 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,243 | -€88,109 | -€167,352 |
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 4 October 2026 via checked.be.