EGA: 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.
EGA
Largest movements
- Stocks and contracts +€74,230
up €74,230 (+46.7%), from €158,833 to €233,063
- Tangible fixed assets +€53,735
up €53,735 (+146%), from €36,902 to €90,637
of which Other tangible fixed assets: +€36,400
- Cash -€31,640
down €31,640 (-43.1%), from €73,381 to €41,741
mainly Investment in fixed assets (net) (-€92,825) and Stocks and contracts (-€74,230)
- Intangible fixed assets +€13,765
new in 2025: €13,765
- Other debts +€69,440
up €69,440, from €0 to €69,440
- Reserves +€48,954
up €48,954 (+14.3%), from €341,264 to €390,218
of which Distributable reserves: +€50,814
- Trade debts -€16,077
down €16,077 (-38.7%), from €41,594 to €25,516
- Tax, wage and social debts +€8,640
up €8,640 (+25.8%), from €33,477 to €42,117
of which Taxes: +€6,179
- Gross operating margin +€70,163
up €70,163 (+37.8%), from €185,647 to €255,810
- Other operating charges -€61,106
down €61,106 (-95.1%), from €64,285 to €3,179
- Staff costs +€28,558
up €28,558 (+66.5%), from €42,975 to €71,533
- Taxes +€27,196
up €27,196 (+129%), from €21,052 to €48,247
- Write-downs -€25,379
down €25,379 (-96.6%), from €26,271 to €892
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 | €435,247 | €546,859 | +€111,612 | +25.6% |
| Fixed assets | 21/28 | €36,902 | €107,777 | +€70,875 | +192% |
| Intangible fixed assets | 21 | - | €13,765 | +€13,765 | |
| Tangible fixed assets | 22/27 | €36,902 | €90,637 | +€53,735 | +146% |
| Plant, machinery and equipment | 23 | €2,031 | €1,260 | -€771 | -37.9% |
| Furniture and vehicles | 24 | €3,292 | €21,398 | +€18,106 | +550% |
| Other tangible fixed assets | 26 | €31,579 | €67,979 | +€36,400 | +115% |
| Financial fixed assets | 28 | - | €3,375 | +€3,375 | |
| Current assets | 29/58 | €398,345 | €439,082 | +€40,737 | +10.2% |
| Stocks and contracts in progress | 3 | €158,833 | €233,063 | +€74,230 | +46.7% |
| Stocks | 30/36 | €158,833 | €233,063 | +€74,230 | +46.7% |
| Amounts receivable within one year | 40/41 | €161,883 | €159,736 | -€2,147 | -1.3% |
| Trade receivables | 40 | €130,152 | €113,233 | -€16,919 | -13.0% |
| Other amounts receivable | 41 | €31,731 | €46,502 | +€14,771 | +46.6% |
| Cash at bank and in hand | 54/58 | €73,381 | €41,741 | -€31,640 | -43.1% |
| Deferred charges and accrued income | 490/1 | €4,247 | €4,542 | +€294 | +6.9% |
| Total equity and liabilities | 10/49 | €435,247 | €546,859 | +€111,612 | +25.6% |
| Equity | 10/15 | €359,856 | €408,810 | +€48,954 | +13.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €341,264 | €390,218 | +€48,954 | +14.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €339,404 | €390,218 | +€50,814 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €75,391 | €138,049 | +€62,658 | +83.1% |
| Amounts payable within one year | 42/48 | €75,071 | €137,073 | +€62,002 | +82.6% |
| Trade debts | 44 | €41,594 | €25,516 | -€16,077 | -38.7% |
| Suppliers | 440/4 | €41,594 | €25,516 | -€16,077 | -38.7% |
| Taxes, remuneration and social security | 45 | €33,477 | €42,117 | +€8,640 | +25.8% |
| Taxes | 450/3 | €26,685 | €32,864 | +€6,179 | +23.2% |
| Remuneration and social security | 454/9 | €6,792 | €9,253 | +€2,461 | +36.2% |
| Other amounts payable | 47/48 | €0 | €69,440 | +€69,440 | |
| Accrued charges and deferred income | 492/3 | €320 | €976 | +€656 | +205% |
| Non-recurring operating income | 76A | €5,612 | €0 | -€5,612 | -100% |
| Remuneration, social security and pensions | 62 | €42,975 | €71,533 | +€28,558 | +66.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,448 | €21,949 | +€18,501 | +536% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,271 | €892 | -€25,379 | -96.6% |
| Other operating charges | 640/8 | €64,285 | €3,179 | -€61,106 | -95.1% |
| Gross operating margin | 9900 | €185,647 | €255,810 | +€70,163 | +37.8% |
| Operating profit (loss) | 9901 | €48,668 | €158,257 | +€109,589 | +225% |
| Financial income | 75/76B | €14,307 | €12,060 | -€2,247 | -15.7% |
| Recurring financial income | 75 | €14,307 | €12,060 | -€2,247 | -15.7% |
| Financial charges | 65/66B | €706 | €3,676 | +€2,970 | +421% |
| Recurring financial charges | 65 | €706 | €3,676 | +€2,970 | +421% |
| Profit (loss) for the period before taxes | 9903 | €62,269 | €166,641 | +€104,372 | +168% |
| Income taxes | 67/77 | €21,052 | €48,247 | +€27,196 | +129% |
| Profit (loss) for the period | 9904 | €41,218 | €118,394 | +€77,176 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | €41,218 | €118,394 | +€77,176 | +187% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.