EGM: 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.
EGM
Largest movements
- Tangible fixed assets +€25,790
up €25,790 (+639.0%), from €4,036 to €29,826
- Cash -€21,724
down €21,724 (-26.4%), from €82,391 to €60,667
mainly Investment in fixed assets (net) (-€28,877) and Contributions, distributions and other (-€16,000)
- Receivables within one year +€14,485
up €14,485 (+78.1%), from €18,541 to €33,026
of which Other amounts receivable: +€14,531
- Intangible fixed assets -€6,166
down €6,166 (-43.5%), from €14,163 to €7,996
- Deferred charges and accrued income +€1,986
new in 2025: €1,986
- Profit (loss) carried forward +€14,177
up €14,177 (+22.1%), from €64,294 to €78,470
- Trade debts +€9,744
up €9,744 (+2280.5%), from €427 to €10,172
- Other debts -€7,817
down €7,817 (-24.6%), from €31,717 to €23,900
- Tax, wage and social debts -€2,233
no longer reported in 2025 (was €2,233)
- Gross operating margin +€17,141
up €17,141 (+62.4%), from €27,448 to €44,588
- Depreciation -€4,679
down €4,679 (-33.6%), from €13,932 to €9,253
- Taxes +€2,638
up €2,638 (+1177.9%), from €224 to €2,862
- Other operating charges +€907
up €907 (+67.7%), from €1,341 to €2,248
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 | €119,131 | €133,501 | +€14,371 | +12.1% |
| Fixed assets | 21/28 | €18,199 | €37,823 | +€19,624 | +107.8% |
| Intangible fixed assets | 21 | €14,163 | €7,996 | -€6,166 | -43.5% |
| Tangible fixed assets | 22/27 | €4,036 | €29,826 | +€25,790 | +639.0% |
| Furniture and vehicles | 24 | €4,036 | €29,826 | +€25,790 | +639.0% |
| Current assets | 29/58 | €100,932 | €95,679 | -€5,253 | -5.2% |
| Amounts receivable within one year | 40/41 | €18,541 | €33,026 | +€14,485 | +78.1% |
| Trade receivables | 40 | €46 | - | -€46 | |
| Other amounts receivable | 41 | €18,495 | €33,026 | +€14,531 | +78.6% |
| Cash at bank and in hand | 54/58 | €82,391 | €60,667 | -€21,724 | -26.4% |
| Deferred charges and accrued income | 490/1 | - | €1,986 | +€1,986 | |
| Total equity and liabilities | 10/49 | €119,131 | €133,501 | +€14,371 | +12.1% |
| Equity | 10/15 | €84,754 | €98,930 | +€14,177 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,294 | €78,470 | +€14,177 | +22.1% |
| Amounts payable | 17/49 | €34,377 | €34,571 | +€194 | +0.6% |
| Amounts payable within one year | 42/48 | €34,377 | €34,071 | -€306 | -0.9% |
| Trade debts | 44 | €427 | €10,172 | +€9,744 | +2280.5% |
| Suppliers | 440/4 | €427 | €10,172 | +€9,744 | +2280.5% |
| Taxes, remuneration and social security | 45 | €2,233 | - | -€2,233 | |
| Remuneration and social security | 454/9 | €2,233 | - | -€2,233 | |
| Other amounts payable | 47/48 | €31,717 | €23,900 | -€7,817 | -24.6% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,932 | €9,253 | -€4,679 | -33.6% |
| Other operating charges | 640/8 | €1,341 | €2,248 | +€907 | +67.7% |
| Gross operating margin | 9900 | €27,448 | €44,588 | +€17,141 | +62.4% |
| Operating profit (loss) | 9901 | €12,175 | €33,088 | +€20,913 | +171.8% |
| Financial income | 75/76B | €66 | - | -€66 | |
| Recurring financial income | 75 | €66 | - | -€66 | |
| Financial charges | 65/66B | €143 | €49 | -€94 | -65.7% |
| Recurring financial charges | 65 | €143 | €49 | -€94 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €12,098 | €33,038 | +€20,941 | +173.1% |
| Income taxes | 67/77 | €224 | €2,862 | +€2,638 | +1177.9% |
| Profit (loss) for the period | 9904 | €11,874 | €30,177 | +€18,303 | +154.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,874 | €30,177 | +€18,303 | +154.1% |
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 2 October 2026 via checked.be.