Ehkam: 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.
What changed
Ehkam
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.6m
2024 · -€1.1m+€4.7m
Equity
€56.0m
2024 · €52.4m+€3.6m
Cash
€879,017
2024 · €413,054+€465,963
Balance sheet total
€64.1m
2024 · €60.5m+€3.6m
Largest movements
Assets
- Tangible fixed assets +€2.9m
up €2.9m (+6.7%), from €43.9m to €46.8m
of which Land and buildings: +€3.0m
- Current investments -€1.4m
down €1.4m (-50.9%), from €2.8m to €1.4m
- Receivables after one year +€790,500
up €790,500 (+9.4%), from €8.4m to €9.2m
Equity and liabilities
- Reserves +€3.6m
up €3.6m (+25.2%), from €14.3m to €17.9m
of which Distributable reserves: +€3.6m
Income statement
- Depreciation -€317,092
down €317,092 (-12.2%), from €2.6m to €2.3m
- Other operating income +€209,451
up €209,451 (+17.0%), from €1.2m to €1.4m
- Staff costs +€88,888
new in 2025: €88,888
- Financial charges +€84,049
up €84,049 (+73.7%), from €114,118 to €198,167
- Turnover +€82,625
up €82,625 (+11.1%), from €745,871 to €828,496
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.
Result 2024
-€1.1m
Turnover
+€82,625
Other operating income
+€209,451
Services and other goods
+€80,390
Staff costs
-€88,888
Depreciation
+€317,092
Other operating charges
-€22,931
Other operating items
+€4.2m
Financial income
+€8,870
Financial charges
-€84,049
Taxes
+€29,217
Result 2025
€3.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.4m
Investment
-€3.7m
Financing
-€181,153
Cash 2024
€413,054
From operations (derived)
+€4.4m
Net result for the year
+€3.6m
Depreciation
+€2.3m
Receivables after one year
-€790,500
Receivables within one year
-€384,961
Deferred charges and accrued income
-€533,338
Trade debts
+€369,819
Tax, wage and social debts
+€28,771
Accrued charges and deferred income
-€175,637
Investment (derived)
-€3.7m
Investment in fixed assets (net)
-€5.2m
Current investments
+€1.4m
Financing
-€181,153
Debts after one year
-€130,506
Current portion of long-term debt
-€50,648
Cash 2025
€879,017
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,496,135 | €64,140,468 | +€3.6m | +6.0% |
| Fixed assets | 21/28 | €44,006,718 | €46,903,286 | +€2.9m | +6.6% |
| Tangible fixed assets | 22/27 | €43,859,717 | €46,803,285 | +€2.9m | +6.7% |
| Land and buildings | 22 | €43,320,844 | €46,344,237 | +€3.0m | +7.0% |
| Leasing and similar rights | 25 | €538,873 | €459,048 | -€79,825 | -14.8% |
| Financial fixed assets | 28 | €147,001 | €100,001 | -€47,000 | -32.0% |
| Affiliated companies | 280/1 | €100,001 | €100,001 | = | 0.0% |
| Participating interests | 280 | €100,001 | €100,001 | = | 0.0% |
| Other financial fixed assets | 284/8 | €47,000 | - | -€47,000 | |
| Amounts receivable and cash guarantees | 285/8 | €47,000 | - | -€47,000 | |
| Current assets | 29/58 | €16,489,416 | €17,237,182 | +€747,765 | +4.5% |
| Amounts receivable after more than one year | 29 | €8,397,917 | €9,188,417 | +€790,500 | +9.4% |
| Other amounts receivable | 291 | €8,397,917 | €9,188,417 | +€790,500 | +9.4% |
| Amounts receivable within one year | 40/41 | €2,838,817 | €3,223,778 | +€384,961 | +13.6% |
| Trade receivables | 40 | €773,891 | €1,129,568 | +€355,677 | +46.0% |
| Other amounts receivable | 41 | €2,064,927 | €2,094,210 | +€29,283 | +1.4% |
| Current investments | 50/53 | €2,803,883 | €1,376,887 | -€1.4m | -50.9% |
| Other investments | 51/53 | €2,803,883 | €1,376,887 | -€1.4m | -50.9% |
| Cash at bank and in hand | 54/58 | €413,054 | €879,017 | +€465,963 | +113% |
| Deferred charges and accrued income | 490/1 | €2,035,745 | €2,569,083 | +€533,338 | +26.2% |
| Total equity and liabilities | 10/49 | €60,496,135 | €64,140,468 | +€3.6m | +6.0% |
| Equity | 10/15 | €52,381,217 | €55,983,750 | +€3.6m | +6.9% |
| Contributions | 10/11 | €38,092,894 | €38,092,894 | = | 0.0% |
| Capital | 10 | €514,386 | €514,386 | = | 0.0% |
| Issued capital | 100 | €514,386 | €514,386 | = | 0.0% |
| Contributions outside capital | 11 | €37,578,508 | €37,578,508 | = | 0.0% |
| Share premium | 1100/10 | €37,578,508 | €37,578,508 | = | 0.0% |
| Reserves | 13 | €14,288,323 | €17,890,857 | +€3.6m | +25.2% |
| Non-distributable reserves | 130/1 | €34,789 | €51,439 | +€16,649 | +47.9% |
| Legal reserve | 130 | €34,789 | €51,439 | +€16,649 | +47.9% |
| Tax-exempt reserves | 132 | €13,103 | €13,944 | +€841 | +6.4% |
| Distributable reserves | 133 | €14,240,431 | €17,825,474 | +€3.6m | +25.2% |
| Amounts payable | 17/49 | €8,114,918 | €8,156,717 | +€41,800 | +0.5% |
| Amounts payable after more than one year | 17 | €6,381,380 | €6,250,874 | -€130,506 | -2.0% |
| Financial debts | 170/4 | €6,381,380 | €6,250,874 | -€130,506 | -2.0% |
| Leasing and similar obligations | 172 | €129,841 | - | -€129,841 | |
| Credit institutions | 173 | €6,251,539 | €6,250,874 | -€665 | 0.0% |
| Amounts payable within one year | 42/48 | €1,459,018 | €1,806,961 | +€347,943 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €1,251,501 | €1,200,853 | -€50,648 | -4.0% |
| Trade debts | 44 | €188,005 | €557,824 | +€369,819 | +197% |
| Suppliers | 440/4 | €188,005 | €557,824 | +€369,819 | +197% |
| Taxes, remuneration and social security | 45 | €19,513 | €48,284 | +€28,771 | +147% |
| Taxes | 450/3 | €19,513 | €39,435 | +€19,923 | +102% |
| Remuneration and social security | 454/9 | - | €8,849 | +€8,849 | |
| Accrued charges and deferred income | 492/3 | €274,519 | €98,882 | -€175,637 | -64.0% |
| Operating income | 70/76A | €1,977,410 | €6,481,459 | +€4.5m | +228% |
| Turnover | 70 | €745,871 | €828,496 | +€82,625 | +11.1% |
| Other operating income | 74 | €1,231,539 | €1,440,990 | +€209,451 | +17.0% |
| Non-recurring operating income | 76A | - | €4,211,973 | +€4.2m | |
| Operating charges | 60/66A | €3,394,647 | €3,108,985 | -€285,662 | -8.4% |
| Services and other goods | 61 | €395,299 | €314,909 | -€80,390 | -20.3% |
| Remuneration, social security and pensions | 62 | - | €88,888 | +€88,888 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,596,643 | €2,279,551 | -€317,092 | -12.2% |
| Other operating charges | 640/8 | €402,705 | €425,637 | +€22,931 | +5.7% |
| Operating profit (loss) | 9901 | -€1,417,237 | €3,372,474 | +€4.8m | |
| Financial income | 75/76B | €414,969 | €423,839 | +€8,870 | +2.1% |
| Recurring financial income | 75 | €414,969 | €423,839 | +€8,870 | +2.1% |
| Income from current assets | 751 | €387,279 | €343,818 | -€43,461 | -11.2% |
| Other financial income | 752/9 | €27,691 | €80,021 | +€52,330 | +189% |
| Financial charges | 65/66B | €114,118 | €198,167 | +€84,049 | +73.7% |
| Recurring financial charges | 65 | €114,118 | €198,167 | +€84,049 | +73.7% |
| Debt charges | 650 | €96,687 | €137,339 | +€40,652 | +42.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€17,994 | -€159,900 | -€141,906 | -789% |
| Other financial charges | 652/9 | €35,425 | €220,728 | +€185,303 | +523% |
| Profit (loss) for the period before taxes | 9903 | -€1,116,386 | €3,598,146 | +€4.7m | |
| Income taxes | 67/77 | €24,830 | -€4,388 | -€29,217 | |
| Taxes | 670/3 | €24,830 | €20,361 | -€4,469 | -18.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €24,748 | +€24,748 | |
| Profit (loss) for the period | 9904 | -€1,141,216 | €3,602,534 | +€4.7m | |
| Transfer to tax-exempt reserves | 689 | €815 | €841 | +€26 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,142,031 | €3,601,693 | +€4.7m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.