EGS PROJECTS: 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.
EGS PROJECTS
Largest movements
- Stocks and contracts -€277,158
down €277,158 (-90.4%), from €306,679 to €29,521
- Receivables within one year -€160,427
down €160,427 (-45.4%), from €353,625 to €193,198
of which Trade receivables: -€161,761
- Deferred charges and accrued income -€108,598
no longer reported in 2025 (was €108,598)
- Tangible fixed assets -€34,407
down €34,407 (-21.9%), from €157,077 to €122,670
of which Leasing and similar rights: -€22,546
- Cash -€18,294
down €18,294 (-85.0%), from €21,534 to €3,240
mainly Net result for the year (-€505,954) and Trade debts (-€60,002)
- Profit (loss) carried forward -€505,954
down €505,954, from €5,627 to -€500,328
- Trade debts -€60,002
down €60,002 (-13.4%), from €446,981 to €386,979
- Current portion of long-term debt -€34,651
down €34,651 (-42.3%), from €81,877 to €47,226
- Other debts +€34,600
up €34,600 (+163%), from €21,187 to €55,787
- Short-term financial debts -€27,489
down €27,489 (-9.9%), from €277,489 to €250,000
- Gross operating margin -€248,985
down €248,985, from €114,552 to -€134,433
- Staff costs -€184,967
down €184,967 (-42.2%), from €438,173 to €253,207
- Financial charges +€32,658
up €32,658 (+118%), from €27,603 to €60,262
- Other operating charges -€15,796
down €15,796 (-43.1%), from €36,645 to €20,849
- Depreciation +€3,705
up €3,705 (+10.4%), from €35,582 to €39,287
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 | €947,513 | €348,629 | -€598,884 | -63.2% |
| Fixed assets | 21/28 | €157,077 | €122,670 | -€34,407 | -21.9% |
| Tangible fixed assets | 22/27 | €157,077 | €122,670 | -€34,407 | -21.9% |
| Plant, machinery and equipment | 23 | €18,906 | €11,768 | -€7,138 | -37.8% |
| Furniture and vehicles | 24 | - | €3,660 | +€3,660 | |
| Leasing and similar rights | 25 | €67,746 | €45,200 | -€22,546 | -33.3% |
| Other tangible fixed assets | 26 | €70,425 | €62,042 | -€8,383 | -11.9% |
| Current assets | 29/58 | €790,436 | €225,959 | -€564,476 | -71.4% |
| Stocks and contracts in progress | 3 | €306,679 | €29,521 | -€277,158 | -90.4% |
| Stocks | 30/36 | €306,679 | €29,521 | -€277,158 | -90.4% |
| Amounts receivable within one year | 40/41 | €353,625 | €193,198 | -€160,427 | -45.4% |
| Trade receivables | 40 | €289,083 | €127,323 | -€161,761 | -56.0% |
| Other amounts receivable | 41 | €64,542 | €65,876 | +€1,334 | +2.1% |
| Cash at bank and in hand | 54/58 | €21,534 | €3,240 | -€18,294 | -85.0% |
| Deferred charges and accrued income | 490/1 | €108,598 | - | -€108,598 | |
| Total equity and liabilities | 10/49 | €947,513 | €348,629 | -€598,884 | -63.2% |
| Equity | 10/15 | €26,877 | -€479,078 | -€505,954 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,250 | €1,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,627 | -€500,328 | -€505,954 | |
| Amounts payable | 17/49 | €920,636 | €827,707 | -€92,929 | -10.1% |
| Amounts payable after more than one year | 17 | €38,820 | €39,978 | +€1,157 | +3.0% |
| Financial debts | 170/4 | €38,820 | €39,978 | +€1,157 | +3.0% |
| Amounts payable within one year | 42/48 | €881,816 | €768,229 | -€113,587 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €81,877 | €47,226 | -€34,651 | -42.3% |
| Financial debts | 43 | €277,489 | €250,000 | -€27,489 | -9.9% |
| Other loans | 439 | €277,489 | €250,000 | -€27,489 | -9.9% |
| Trade debts | 44 | €446,981 | €386,979 | -€60,002 | -13.4% |
| Suppliers | 440/4 | €446,981 | €386,979 | -€60,002 | -13.4% |
| Taxes, remuneration and social security | 45 | €54,281 | €28,237 | -€26,044 | -48.0% |
| Taxes | 450/3 | €17,715 | €7,425 | -€10,290 | -58.1% |
| Remuneration and social security | 454/9 | €36,566 | €20,812 | -€15,754 | -43.1% |
| Other amounts payable | 47/48 | €21,187 | €55,787 | +€34,600 | +163% |
| Accrued charges and deferred income | 492/3 | - | €19,500 | +€19,500 | |
| Remuneration, social security and pensions | 62 | €438,173 | €253,207 | -€184,967 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,582 | €39,287 | +€3,705 | +10.4% |
| Other operating charges | 640/8 | €36,645 | €20,849 | -€15,796 | -43.1% |
| Gross operating margin | 9900 | €114,552 | -€134,433 | -€248,985 | |
| Operating profit (loss) | 9901 | -€395,849 | -€447,776 | -€51,927 | -13.1% |
| Financial income | 75/76B | €49 | €2,936 | +€2,887 | +5,846% |
| Recurring financial income | 75 | €49 | €2,936 | +€2,887 | +5,846% |
| Financial charges | 65/66B | €27,603 | €60,262 | +€32,658 | +118% |
| Recurring financial charges | 65 | €27,603 | €60,262 | +€32,658 | +118% |
| Profit (loss) for the period before taxes | 9903 | -€423,403 | -€505,102 | -€81,699 | -19.3% |
| Income taxes | 67/77 | €1,413 | €853 | -€560 | -39.6% |
| Profit (loss) for the period | 9904 | -€424,815 | -€505,954 | -€81,139 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€424,815 | -€505,954 | -€81,139 | -19.1% |
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 16 October 2026 via checked.be.