EJ9: 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.
EJ9
Largest movements
- Cash +€118,991
up €118,991 (+459%), from €25,939 to €144,930
mainly Net result for the year (+€118,708) and Receivables after one year (+€71,250)
- Receivables after one year -€71,250
down €71,250 (-48.7%), from €146,250 to €75,000
- Receivables within one year -€47,686
down €47,686 (-52.2%), from €91,296 to €43,610
of which Trade receivables: -€52,862
- Tangible fixed assets +€33,431
up €33,431 (+1,719%), from €1,944 to €35,375
- Reserves +€118,708
up €118,708 (+78.1%), from €151,928 to €270,636
of which Distributable reserves: +€118,708
- Trade debts -€63,848
down €63,848 (-95.2%), from €67,079 to €3,231
- Other debts -€18,425
down €18,425 (-100%), from €18,425 to €0
- Tax, wage and social debts -€3,867
down €3,867 (-17.0%), from €22,715 to €18,848
- Gross operating margin +€114,299
up €114,299 (+186%), from €61,463 to €175,762
- Taxes +€37,345
up €37,345 (+218%), from €17,133 to €54,478
- Financial charges -€4,807
down €4,807 (-88.1%), from €5,458 to €651
- Depreciation +€1,900
up €1,900 (+207%), from €917 to €2,818
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 | €266,560 | €298,915 | +€32,355 | +12.1% |
| Fixed assets | 21/28 | €1,944 | €35,375 | +€33,431 | +1,719% |
| Tangible fixed assets | 22/27 | €1,944 | €35,375 | +€33,431 | +1,719% |
| Land and buildings | 22 | - | €12,270 | +€12,270 | |
| Plant, machinery and equipment | 23 | €493 | €5,153 | +€4,660 | +945% |
| Furniture and vehicles | 24 | €1,451 | €17,952 | +€16,500 | +1,137% |
| Current assets | 29/58 | €264,615 | €263,540 | -€1,076 | -0.4% |
| Amounts receivable after more than one year | 29 | €146,250 | €75,000 | -€71,250 | -48.7% |
| Other amounts receivable | 291 | €146,250 | €75,000 | -€71,250 | -48.7% |
| Amounts receivable within one year | 40/41 | €91,296 | €43,610 | -€47,686 | -52.2% |
| Trade receivables | 40 | €89,668 | €36,806 | -€52,862 | -59.0% |
| Other amounts receivable | 41 | €1,628 | €6,804 | +€5,177 | +318% |
| Cash at bank and in hand | 54/58 | €25,939 | €144,930 | +€118,991 | +459% |
| Deferred charges and accrued income | 490/1 | €1,131 | €0 | -€1,131 | -100% |
| Total equity and liabilities | 10/49 | €266,560 | €298,915 | +€32,355 | +12.1% |
| Equity | 10/15 | €158,128 | €276,836 | +€118,708 | +75.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €151,928 | €270,636 | +€118,708 | +78.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €150,068 | €268,776 | +€118,708 | +79.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,432 | €22,079 | -€86,353 | -79.6% |
| Amounts payable within one year | 42/48 | €108,432 | €22,079 | -€86,353 | -79.6% |
| Financial debts | 43 | €213 | €0 | -€213 | -100% |
| Credit institutions | 430/8 | €213 | €0 | -€213 | -100% |
| Trade debts | 44 | €67,079 | €3,231 | -€63,848 | -95.2% |
| Suppliers | 440/4 | €67,079 | €3,231 | -€63,848 | -95.2% |
| Taxes, remuneration and social security | 45 | €22,715 | €18,848 | -€3,867 | -17.0% |
| Taxes | 450/3 | €22,715 | €18,848 | -€3,867 | -17.0% |
| Other amounts payable | 47/48 | €18,425 | €0 | -€18,425 | -100% |
| Non-recurring operating income | 76A | €3,921 | €0 | -€3,921 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €917 | €2,818 | +€1,900 | +207% |
| Other operating charges | 640/8 | €857 | €707 | -€151 | -17.6% |
| Gross operating margin | 9900 | €61,463 | €175,762 | +€114,299 | +186% |
| Operating profit (loss) | 9901 | €59,688 | €172,238 | +€112,549 | +189% |
| Financial income | 75/76B | €1,536 | €1,599 | +€62 | +4.1% |
| Recurring financial income | 75 | €1,536 | €1,599 | +€62 | +4.1% |
| Financial charges | 65/66B | €5,458 | €651 | -€4,807 | -88.1% |
| Recurring financial charges | 65 | €5,458 | €651 | -€4,807 | -88.1% |
| Profit (loss) for the period before taxes | 9903 | €55,767 | €173,186 | +€117,419 | +211% |
| Income taxes | 67/77 | €17,133 | €54,478 | +€37,345 | +218% |
| Profit (loss) for the period | 9904 | €38,633 | €118,708 | +€80,074 | +207% |
| Profit (loss) for the period to be appropriated | 9905 | €38,633 | €118,708 | +€80,074 | +207% |
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 23 October 2026 via checked.be.