EIKOFIN: 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
EIKOFIN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€964,777
2024 · -€28,466+€993,243
Equity
€11.0m
2024 · €10.0m+€964,777
Cash
€835,512
2024 · €22,235+€813,277
Balance sheet total
€12.0m
2024 · €11.3m+€764,955
Largest movements
Assets
- Current investments +€999,969
new in 2025: €999,969
- Cash +€813,277
up €813,277 (+3,658%), from €22,235 to €835,512
mainly Net result for the year (+€964,777) and Investment in fixed assets (net) (+€576,702)
- Tangible fixed assets -€577,514
down €577,514 (-98.5%), from €586,507 to €8,994
of which Land and buildings: -€576,702
- Receivables within one year -€485,806
down €485,806 (-32.4%), from €1.5m to €1.0m
of which Trade receivables: -€263,927
Equity and liabilities
- Profit (loss) carried forward +€964,777
up €964,777, from -€152,738 to €812,039
- Debts after one year -€215,277
down €215,277 (-100%), from €215,277 to €0
Income statement
- Gross operating margin +€1.7m
up €1.7m, from -€5,158 to €1.7m
- Other operating charges +€497,050
up €497,050 (+4,994%), from €9,953 to €507,003
- Write-downs +€181,032
new in 2025: €181,032
- Taxes +€27,165
up €27,165 (+4,072%), from €667 to €27,832
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
-€28,466
Gross operating margin
+€1.7m
Staff costs
-€1,072
Depreciation
+€11,863
Write-downs
-€181,032
Other operating charges
-€497,050
Other operating items
+€1,242
Financial income
+€12,813
Financial charges
-€1,908
Taxes
-€27,165
Result 2025
€964,777
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
+€1.5m
Investment
-€423,267
Financing
-€252,182
Cash 2024
€22,235
From operations (derived)
+€1.5m
Net result for the year
+€964,777
Depreciation
+€812
Receivables within one year
+€485,806
Deferred charges and accrued income
-€15,030
Trade debts
-€10,792
Tax, wage and social debts
+€3,747
Other debts
+€59,406
Investment (derived)
-€423,267
Investment in fixed assets (net)
+€576,702
Current investments
-€999,969
Financing
-€252,182
Debts after one year
-€215,277
Current portion of long-term debt
-€36,905
Cash 2025
€835,512
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,283,925 | €12,048,880 | +€764,955 | +6.8% |
| Fixed assets | 21/28 | €8,723,150 | €8,145,636 | -€577,514 | -6.6% |
| Tangible fixed assets | 22/27 | €586,507 | €8,994 | -€577,514 | -98.5% |
| Land and buildings | 22 | €576,702 | €0 | -€576,702 | -100% |
| Furniture and vehicles | 24 | €9,806 | €8,994 | -€812 | -8.3% |
| Financial fixed assets | 28 | €8,136,642 | €8,136,642 | = | 0.0% |
| Current assets | 29/58 | €2,560,775 | €3,903,245 | +€1.3m | +52.4% |
| Amounts receivable after more than one year | 29 | €975,000 | €975,000 | = | 0.0% |
| Other amounts receivable | 291 | €975,000 | €975,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,500,529 | €1,014,722 | -€485,806 | -32.4% |
| Trade receivables | 40 | €551,165 | €287,238 | -€263,927 | -47.9% |
| Other amounts receivable | 41 | €949,364 | €727,484 | -€221,880 | -23.4% |
| Current investments | 50/53 | - | €999,969 | +€999,969 | |
| Cash at bank and in hand | 54/58 | €22,235 | €835,512 | +€813,277 | +3,658% |
| Deferred charges and accrued income | 490/1 | €63,011 | €78,041 | +€15,030 | +23.9% |
| Total equity and liabilities | 10/49 | €11,283,925 | €12,048,880 | +€764,955 | +6.8% |
| Equity | 10/15 | €10,004,077 | €10,968,853 | +€964,777 | +9.6% |
| Contributions | 10/11 | €8,528,332 | €8,528,332 | = | 0.0% |
| Reserves | 13 | €1,628,482 | €1,628,482 | = | 0.0% |
| Non-distributable reserves | 130/1 | €917,833 | €917,833 | = | 0.0% |
| Reserves not available under the articles | 1311 | €917,833 | €917,833 | = | 0.0% |
| Distributable reserves | 133 | €710,649 | €710,649 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,738 | €812,039 | +€964,777 | |
| Amounts payable | 17/49 | €1,279,848 | €1,080,027 | -€199,821 | -15.6% |
| Amounts payable after more than one year | 17 | €215,277 | €0 | -€215,277 | -100% |
| Financial debts | 170/4 | €215,277 | €0 | -€215,277 | -100% |
| Amounts payable within one year | 42/48 | €1,064,571 | €1,080,027 | +€15,456 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €36,905 | €0 | -€36,905 | -100% |
| Trade debts | 44 | €67,201 | €56,409 | -€10,792 | -16.1% |
| Suppliers | 440/4 | €67,201 | €56,409 | -€10,792 | -16.1% |
| Taxes, remuneration and social security | 45 | €1,616 | €5,363 | +€3,747 | +232% |
| Taxes | 450/3 | €667 | €3,499 | +€2,832 | +424% |
| Remuneration and social security | 454/9 | €948 | €1,864 | +€915 | +96.5% |
| Other amounts payable | 47/48 | €958,850 | €1,018,256 | +€59,406 | +6.2% |
| Non-recurring operating income | 76A | - | €1,728,976 | +€1.7m | |
| Remuneration, social security and pensions | 62 | €23,241 | €24,313 | +€1,072 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,675 | €812 | -€11,863 | -93.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €181,032 | +€181,032 | |
| Other operating charges | 640/8 | €9,953 | €507,003 | +€497,050 | +4,994% |
| Non-recurring operating charges | 66A | €1,242 | €0 | -€1,242 | -100% |
| Gross operating margin | 9900 | -€5,158 | €1,670,396 | +€1.7m | |
| Operating profit (loss) | 9901 | -€52,268 | €957,236 | +€1.0m | |
| Financial income | 75/76B | €37,228 | €50,041 | +€12,813 | +34.4% |
| Recurring financial income | 75 | €37,228 | €50,041 | +€12,813 | +34.4% |
| Financial charges | 65/66B | €12,759 | €14,667 | +€1,908 | +15.0% |
| Recurring financial charges | 65 | €12,759 | €14,667 | +€1,908 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | -€27,799 | €992,609 | +€1.0m | |
| Income taxes | 67/77 | €667 | €27,832 | +€27,165 | +4,072% |
| Profit (loss) for the period | 9904 | -€28,466 | €964,777 | +€993,243 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,466 | €964,777 | +€993,243 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.