EGOPA: 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.
EGOPA
Largest movements
- Stocks and contracts +€124,753
new in 2025: €124,753
- Receivables within one year -€107,158
down €107,158 (-47.8%), from €224,268 to €117,111
of which Trade receivables: -€119,001
- Cash +€37,234
up €37,234 (+58.7%), from €63,378 to €100,611
mainly Receivables within one year (+€107,158) and Net result for the year (+€14,972)
- Tangible fixed assets -€16,152
down €16,152 (-34.2%), from €47,294 to €31,142
of which Furniture and vehicles: -€13,991
- Profit (loss) carried forward +€14,972
up €14,972 (+27.5%), from €54,489 to €69,461
- Tax, wage and social debts +€14,327
up €14,327 (+40.0%), from €35,820 to €50,147
of which Remuneration and social security: +€19,670
- Accrued charges and deferred income +€5,557
up €5,557 (+3.0%), from €183,568 to €189,125
- Other debts +€4,670
up €4,670 (+128%), from €3,636 to €8,306
- Staff costs +€77,123
up €77,123 (+150%), from €51,483 to €128,605
- Gross operating margin +€53,498
up €53,498 (+44.3%), from €120,746 to €174,244
- Depreciation +€9,454
up €9,454 (+217%), from €4,359 to €13,813
- Taxes -€6,407
down €6,407 (-40.6%), from €15,763 to €9,356
- Other operating charges +€3,504
up €3,504 (+52.2%), from €6,708 to €10,212
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 | €349,203 | €386,820 | +€37,616 | +10.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €55,309 | €39,157 | -€16,152 | -29.2% |
| Tangible fixed assets | 22/27 | €47,294 | €31,142 | -€16,152 | -34.2% |
| Furniture and vehicles | 24 | €31,502 | €17,511 | -€13,991 | -44.4% |
| Leasing and similar rights | 25 | €15,791 | €13,631 | -€2,160 | -13.7% |
| Financial fixed assets | 28 | €8,015 | €8,015 | = | 0.0% |
| Current assets | 29/58 | €293,895 | €347,663 | +€53,768 | +18.3% |
| Stocks and contracts in progress | 3 | - | €124,753 | +€124,753 | |
| Stocks | 30/36 | - | €124,753 | +€124,753 | |
| Amounts receivable within one year | 40/41 | €224,268 | €117,111 | -€107,158 | -47.8% |
| Trade receivables | 40 | €216,176 | €97,176 | -€119,001 | -55.0% |
| Other amounts receivable | 41 | €8,092 | €19,935 | +€11,843 | +146% |
| Cash at bank and in hand | 54/58 | €63,378 | €100,611 | +€37,234 | +58.7% |
| Deferred charges and accrued income | 490/1 | €6,249 | €5,188 | -€1,061 | -17.0% |
| Total equity and liabilities | 10/49 | €349,203 | €386,820 | +€37,616 | +10.8% |
| Equity | 10/15 | €73,230 | €88,201 | +€14,972 | +20.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €141 | €141 | = | 0.0% |
| Non-distributable reserves | 130/1 | €141 | €141 | = | 0.0% |
| Reserves not available under the articles | 1311 | €141 | €141 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,489 | €69,461 | +€14,972 | +27.5% |
| Amounts payable | 17/49 | €275,974 | €298,618 | +€22,645 | +8.2% |
| Amounts payable within one year | 42/48 | €92,405 | €109,493 | +€17,088 | +18.5% |
| Trade debts | 44 | €52,950 | €51,041 | -€1,909 | -3.6% |
| Suppliers | 440/4 | €52,950 | €51,041 | -€1,909 | -3.6% |
| Taxes, remuneration and social security | 45 | €35,820 | €50,147 | +€14,327 | +40.0% |
| Taxes | 450/3 | €18,458 | €13,114 | -€5,344 | -29.0% |
| Remuneration and social security | 454/9 | €17,362 | €37,033 | +€19,670 | +113% |
| Other amounts payable | 47/48 | €3,636 | €8,306 | +€4,670 | +128% |
| Accrued charges and deferred income | 492/3 | €183,568 | €189,125 | +€5,557 | +3.0% |
| Remuneration, social security and pensions | 62 | €51,483 | €128,605 | +€77,123 | +150% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,359 | €13,813 | +€9,454 | +217% |
| Other operating charges | 640/8 | €6,708 | €10,212 | +€3,504 | +52.2% |
| Gross operating margin | 9900 | €120,746 | €174,244 | +€53,498 | +44.3% |
| Operating profit (loss) | 9901 | €58,196 | €21,613 | -€36,583 | -62.9% |
| Financial income | 75/76B | €13 | €3,171 | +€3,158 | +23,869% |
| Recurring financial income | 75 | €13 | €3,171 | +€3,158 | +23,869% |
| Financial charges | 65/66B | €1,222 | €457 | -€765 | -62.6% |
| Recurring financial charges | 65 | €1,222 | €457 | -€765 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €56,987 | €24,328 | -€32,660 | -57.3% |
| Income taxes | 67/77 | €15,763 | €9,356 | -€6,407 | -40.6% |
| Profit (loss) for the period | 9904 | €41,225 | €14,972 | -€26,253 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,225 | €14,972 | -€26,253 | -63.7% |
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 14 October 2026 via checked.be.