EK GROUP: 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.
EK GROUP
Largest movements
- Stocks and contracts -€576,501
down €576,501 (-92.9%), from €620,419 to €43,918
of which Contracts in progress: -€455,750
- Receivables within one year +€187,678
up €187,678 (+20.4%), from €917,813 to €1.1m
of which Trade receivables: +€119,103
- Deferred charges and accrued income -€178,424
down €178,424 (-99.7%), from €178,875 to €451
- Cash -€61,209
down €61,209 (-65.0%), from €94,179 to €32,970
mainly Trade debts (-€837,516) and Receivables within one year (-€187,678)
- Trade debts -€837,516
down €837,516 (-71.9%), from €1.2m to €328,046
- Tax, wage and social debts +€180,120
up €180,120 (+113.4%), from €158,888 to €339,008
of which Taxes: +€126,177
- Reserves +€46,090
up €46,090 (+14.2%), from €324,955 to €371,045
of which Distributable reserves: +€46,090
- Debts after one year -€28,337
down €28,337 (-16.9%), from €167,374 to €139,037
- Current portion of long-term debt +€22,338
up €22,338 (+35.3%), from €63,263 to €85,601
- Gross operating margin +€305,322
up €305,322 (+32.0%), from €953,372 to €1.3m
- Staff costs +€260,785
up €260,785 (+28.9%), from €902,179 to €1.2m
- Taxes +€18,120
up €18,120 (+127.3%), from €14,239 to €32,359
- Depreciation -€15,265
no longer reported in 2025 (was €15,265)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,917,770 | €1,289,314 | -€628,456 | -32.8% |
| Fixed assets | 21/28 | €22,484 | €22,484 | = | 0.0% |
| Financial fixed assets | 28 | €22,484 | €22,484 | = | 0.0% |
| Current assets | 29/58 | €1,895,286 | €1,266,830 | -€628,456 | -33.2% |
| Amounts receivable after more than one year | 29 | €84,000 | €84,000 | = | 0.0% |
| Trade receivables | 290 | - | €84,000 | +€84,000 | |
| Other amounts receivable | 291 | €84,000 | - | -€84,000 | |
| Stocks and contracts in progress | 3 | €620,419 | €43,918 | -€576,501 | -92.9% |
| Stocks | 30/36 | €141,144 | €20,393 | -€120,751 | -85.6% |
| Contracts in progress | 37 | €479,275 | €23,525 | -€455,750 | -95.1% |
| Amounts receivable within one year | 40/41 | €917,813 | €1,105,491 | +€187,678 | +20.4% |
| Trade receivables | 40 | €474,147 | €593,250 | +€119,103 | +25.1% |
| Other amounts receivable | 41 | €443,666 | €512,241 | +€68,575 | +15.5% |
| Cash at bank and in hand | 54/58 | €94,179 | €32,970 | -€61,209 | -65.0% |
| Deferred charges and accrued income | 490/1 | €178,875 | €451 | -€178,424 | -99.7% |
| Total equity and liabilities | 10/49 | €1,917,770 | €1,289,314 | -€628,456 | -32.8% |
| Equity | 10/15 | €346,499 | €392,589 | +€46,090 | +13.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €324,955 | €371,045 | +€46,090 | +14.2% |
| 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 | €323,095 | €369,185 | +€46,090 | +14.3% |
| Profit (loss) carried forward | 14 | €15,344 | €15,344 | = | 0.0% |
| Amounts payable | 17/49 | €1,571,271 | €896,725 | -€674,546 | -42.9% |
| Amounts payable after more than one year | 17 | €167,374 | €139,037 | -€28,337 | -16.9% |
| Financial debts | 170/4 | €167,374 | €139,037 | -€28,337 | -16.9% |
| Amounts payable within one year | 42/48 | €1,403,897 | €757,688 | -€646,209 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €63,263 | €85,601 | +€22,338 | +35.3% |
| Financial debts | 43 | €11,150 | - | -€11,150 | |
| Credit institutions | 430/8 | €11,150 | - | -€11,150 | |
| Trade debts | 44 | €1,165,562 | €328,046 | -€837,516 | -71.9% |
| Suppliers | 440/4 | €1,165,562 | €328,046 | -€837,516 | -71.9% |
| Taxes, remuneration and social security | 45 | €158,888 | €339,008 | +€180,120 | +113.4% |
| Taxes | 450/3 | €117,989 | €244,166 | +€126,177 | +106.9% |
| Remuneration and social security | 454/9 | €40,899 | €94,842 | +€53,943 | +131.9% |
| Other amounts payable | 47/48 | €5,034 | €5,033 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €902,179 | €1,162,964 | +€260,785 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,265 | - | -€15,265 | |
| Other operating charges | 640/8 | €4,509 | €2,572 | -€1,937 | -43.0% |
| Gross operating margin | 9900 | €953,372 | €1,258,694 | +€305,322 | +32.0% |
| Operating profit (loss) | 9901 | €31,419 | €93,158 | +€61,739 | +196.5% |
| Financial income | 75/76B | €2,940 | €9 | -€2,931 | -99.7% |
| Recurring financial income | 75 | €2,940 | €9 | -€2,931 | -99.7% |
| Financial charges | 65/66B | €9,735 | €14,718 | +€4,983 | +51.2% |
| Recurring financial charges | 65 | €9,735 | €14,718 | +€4,983 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €24,624 | €78,449 | +€53,825 | +218.6% |
| Income taxes | 67/77 | €14,239 | €32,359 | +€18,120 | +127.3% |
| Profit (loss) for the period | 9904 | €10,385 | €46,090 | +€35,705 | +343.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,385 | €46,090 | +€35,705 | +343.8% |
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 9 October 2026 via checked.be.