EIW: 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.
What changed
EIW
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€104,327
2024 · €87,840+€16,487
Equity
€765,985
2024 · €786,530-€20,545
Cash
€302,408
2024 · €300,085+€2,322
Balance sheet total
€899,878
2024 · €969,411-€69,533
Largest movements
Assets
- Current investments -€100,000
down €100,000 (-40.0%), from €250,000 to €150,000
- Tangible fixed assets +€28,549
up €28,549 (+9.1%), from €315,257 to €343,806
of which Furniture and vehicles: +€47,009
- Stocks and contracts -€11,487
down €11,487 (-22.4%), from €51,261 to €39,774
Equity and liabilities
- Debts after one year -€43,067
down €43,067 (-41.4%), from €103,936 to €60,869
- Reserves -€20,545
down €20,545 (-2.6%), from €786,530 to €765,985
of which Distributable reserves: -€20,545
Income statement
- Gross operating margin +€35,702
up €35,702 (+10.7%), from €333,794 to €369,496
- Taxes +€7,251
up €7,251 (+19.6%), from €36,993 to €44,244
- Financial income -€5,815
down €5,815 (-42.1%), from €13,817 to €8,002
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
€87,840
Gross operating margin
+€35,702
Staff costs
-€2,118
Depreciation
-€2,708
Other operating charges
-€2,558
Financial income
-€5,815
Financial charges
+€1,235
Taxes
-€7,251
Result 2025
€104,327
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.
From operations
+€143,569
Investment
+€25,788
Financing
-€167,034
Cash 2024
€300,085
From operations (derived)
+€143,569
Net result for the year
+€104,327
Depreciation
+€45,663
Stocks and contracts
+€11,487
Receivables within one year
-€8,863
Deferred charges and accrued income
-€2,220
Trade debts
+€1,997
Tax, wage and social debts
-€8,708
Accrued charges and deferred income
-€116
Investment (derived)
+€25,788
Investment in fixed assets (net)
-€74,212
Current investments
+€100,000
Financing
-€167,034
Debts after one year
-€43,067
Current portion of long-term debt
+€940
Short-term financial debts
-€35
Contributions, distributions and other
-€124,872
Cash 2025
€302,408
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €969,411 | €899,878 | -€69,533 | -7.2% |
| Fixed assets | 21/28 | €315,370 | €343,919 | +€28,549 | +9.1% |
| Tangible fixed assets | 22/27 | €315,257 | €343,806 | +€28,549 | +9.1% |
| Land and buildings | 22 | €244,537 | €225,909 | -€18,628 | -7.6% |
| Plant, machinery and equipment | 23 | €4,814 | €5,141 | +€326 | +6.8% |
| Furniture and vehicles | 24 | €65,527 | €112,535 | +€47,009 | +71.7% |
| Other tangible fixed assets | 26 | €379 | €221 | -€158 | -41.6% |
| Financial fixed assets | 28 | €113 | €113 | = | 0.0% |
| Current assets | 29/58 | €654,041 | €555,959 | -€98,082 | -15.0% |
| Stocks and contracts in progress | 3 | €51,261 | €39,774 | -€11,487 | -22.4% |
| Stocks | 30/36 | €51,261 | €39,774 | -€11,487 | -22.4% |
| Amounts receivable within one year | 40/41 | €51,453 | €60,316 | +€8,863 | +17.2% |
| Trade receivables | 40 | €41,308 | €40,961 | -€346 | -0.8% |
| Other amounts receivable | 41 | €10,146 | €19,354 | +€9,209 | +90.8% |
| Current investments | 50/53 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €300,085 | €302,408 | +€2,322 | +0.8% |
| Deferred charges and accrued income | 490/1 | €1,241 | €3,461 | +€2,220 | +178.9% |
| Total equity and liabilities | 10/49 | €969,411 | €899,878 | -€69,533 | -7.2% |
| Equity | 10/15 | €786,530 | €765,985 | -€20,545 | -2.6% |
| Reserves | 13 | €786,530 | €765,985 | -€20,545 | -2.6% |
| Tax-exempt reserves | 132 | €11,284 | €11,284 | = | 0.0% |
| Distributable reserves | 133 | €775,247 | €754,702 | -€20,545 | -2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €182,880 | €133,892 | -€48,988 | -26.8% |
| Amounts payable after more than one year | 17 | €103,936 | €60,869 | -€43,067 | -41.4% |
| Financial debts | 170/4 | €103,936 | €60,869 | -€43,067 | -41.4% |
| Amounts payable within one year | 42/48 | €78,725 | €72,920 | -€5,805 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €42,127 | €43,067 | +€940 | +2.2% |
| Financial debts | 43 | €11,861 | €11,826 | -€35 | -0.3% |
| Credit institutions | 430/8 | €11,861 | €11,826 | -€35 | -0.3% |
| Trade debts | 44 | €2,882 | €4,879 | +€1,997 | +69.3% |
| Suppliers | 440/4 | €2,882 | €4,879 | +€1,997 | +69.3% |
| Taxes, remuneration and social security | 45 | €21,855 | €13,147 | -€8,708 | -39.8% |
| Taxes | 450/3 | €9,097 | €306 | -€8,791 | -96.6% |
| Remuneration and social security | 454/9 | €12,758 | €12,841 | +€83 | +0.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €219 | €104 | -€116 | -52.7% |
| Remuneration, social security and pensions | 62 | €170,376 | €172,494 | +€2,118 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,955 | €45,663 | +€2,708 | +6.3% |
| Other operating charges | 640/8 | €4,501 | €7,059 | +€2,558 | +56.8% |
| Gross operating margin | 9900 | €333,794 | €369,496 | +€35,702 | +10.7% |
| Operating profit (loss) | 9901 | €115,962 | €144,280 | +€28,318 | +24.4% |
| Financial income | 75/76B | €13,817 | €8,002 | -€5,815 | -42.1% |
| Recurring financial income | 75 | €13,817 | €8,002 | -€5,815 | -42.1% |
| Financial charges | 65/66B | €4,945 | €3,711 | -€1,235 | -25.0% |
| Recurring financial charges | 65 | €4,945 | €3,711 | -€1,235 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €124,834 | €148,571 | +€23,737 | +19.0% |
| Income taxes | 67/77 | €36,993 | €44,244 | +€7,251 | +19.6% |
| Profit (loss) for the period | 9904 | €87,840 | €104,327 | +€16,487 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,840 | €104,327 | +€16,487 | +18.8% |
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 28 September 2026 via checked.be.