EKELA: 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.
EKELA
Largest movements
- Tangible fixed assets -€168,926
down €168,926 (-32.0%), from €527,151 to €358,225
of which Plant, machinery and equipment: -€156,535
- Cash -€37,038
down €37,038 (-15.7%), from €235,929 to €198,891
mainly Debts after one year (-€157,999) and Deferred charges and accrued income (-€33,335)
- Deferred charges and accrued income +€33,335
up €33,335 (+190.7%), from €17,483 to €50,819
- Receivables within one year +€24,145
up €24,145 (+26.2%), from €92,091 to €116,236
of which Trade receivables: +€16,035
- Debts after one year -€157,999
down €157,999 (-41.0%), from €385,182 to €227,183
- Tax, wage and social debts +€28,458
up €28,458 (+36.7%), from €77,496 to €105,954
of which Remuneration and social security: +€23,665
- Profit (loss) carried forward -€13,661
down €13,661 (-4.0%), from -€344,048 to -€357,708
- Short-term financial debts +€11,748
new in 2025: €11,748
- Current portion of long-term debt -€9,647
down €9,647 (-5.8%), from €167,646 to €157,999
- Gross operating margin +€146,012
up €146,012 (+17.5%), from €834,313 to €980,325
- Staff costs +€127,788
up €127,788 (+19.1%), from €670,030 to €797,817
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 | €891,471 | €746,864 | -€144,608 | -16.2% |
| Fixed assets | 21/28 | €528,277 | €358,820 | -€169,456 | -32.1% |
| Intangible fixed assets | 21 | €531 | - | -€531 | |
| Tangible fixed assets | 22/27 | €527,151 | €358,225 | -€168,926 | -32.0% |
| Land and buildings | 22 | €31,112 | €20,627 | -€10,485 | -33.7% |
| Plant, machinery and equipment | 23 | €493,152 | €336,617 | -€156,535 | -31.7% |
| Furniture and vehicles | 24 | €2,887 | €982 | -€1,905 | -66.0% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €363,195 | €388,043 | +€24,849 | +6.8% |
| Stocks and contracts in progress | 3 | €17,691 | €22,098 | +€4,407 | +24.9% |
| Stocks | 30/36 | €17,691 | €22,098 | +€4,407 | +24.9% |
| Amounts receivable within one year | 40/41 | €92,091 | €116,236 | +€24,145 | +26.2% |
| Trade receivables | 40 | €46,271 | €62,306 | +€16,035 | +34.7% |
| Other amounts receivable | 41 | €45,820 | €53,930 | +€8,109 | +17.7% |
| Cash at bank and in hand | 54/58 | €235,929 | €198,891 | -€37,038 | -15.7% |
| Deferred charges and accrued income | 490/1 | €17,483 | €50,819 | +€33,335 | +190.7% |
| Total equity and liabilities | 10/49 | €891,471 | €746,864 | -€144,608 | -16.2% |
| Equity | 10/15 | -€4,048 | -€17,708 | -€13,661 | -337.5% |
| Contributions | 10/11 | €340,000 | €340,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€344,048 | -€357,708 | -€13,661 | -4.0% |
| Amounts payable | 17/49 | €895,519 | €764,572 | -€130,947 | -14.6% |
| Amounts payable after more than one year | 17 | €385,182 | €227,183 | -€157,999 | -41.0% |
| Financial debts | 170/4 | €385,182 | €227,183 | -€157,999 | -41.0% |
| Amounts payable within one year | 42/48 | €495,305 | €523,072 | +€27,767 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €167,646 | €157,999 | -€9,647 | -5.8% |
| Financial debts | 43 | - | €11,748 | +€11,748 | |
| Credit institutions | 430/8 | - | €11,748 | +€11,748 | |
| Trade debts | 44 | €201,259 | €197,260 | -€3,999 | -2.0% |
| Suppliers | 440/4 | €201,259 | €197,260 | -€3,999 | -2.0% |
| Taxes, remuneration and social security | 45 | €77,496 | €105,954 | +€28,458 | +36.7% |
| Taxes | 450/3 | - | €4,793 | +€4,793 | |
| Remuneration and social security | 454/9 | €77,496 | €101,161 | +€23,665 | +30.5% |
| Other amounts payable | 47/48 | €48,904 | €50,111 | +€1,208 | +2.5% |
| Accrued charges and deferred income | 492/3 | €15,032 | €14,317 | -€715 | -4.8% |
| Remuneration, social security and pensions | 62 | €670,030 | €797,817 | +€127,788 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,219 | €171,519 | +€3,300 | +2.0% |
| Other operating charges | 640/8 | €4,401 | €13,151 | +€8,750 | +198.8% |
| Gross operating margin | 9900 | €834,313 | €980,325 | +€146,012 | +17.5% |
| Operating profit (loss) | 9901 | -€8,337 | -€2,163 | +€6,174 | +74.1% |
| Financial income | 75/76B | €2,740 | €7,490 | +€4,750 | +173.4% |
| Recurring financial income | 75 | €2,740 | €2,046 | -€694 | -25.3% |
| Non-recurring financial income | 76B | - | €5,443 | +€5,443 | |
| Financial charges | 65/66B | €20,154 | €18,851 | -€1,303 | -6.5% |
| Recurring financial charges | 65 | €20,154 | €18,851 | -€1,303 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,751 | -€13,524 | +€12,227 | +47.5% |
| Income taxes | 67/77 | €137 | €136 | -€0 | -0.2% |
| Profit (loss) for the period | 9904 | -€25,888 | -€13,661 | +€12,227 | +47.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,888 | -€13,661 | +€12,227 | +47.2% |
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 7 October 2026 via checked.be.