ELECTRO CHALLENGE: 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.
ELECTRO CHALLENGE
Largest movements
- Current investments +€550,000
new in 2025: €550,000
- Cash -€518,596
down €518,596 (-60.6%), from €855,994 to €337,397
mainly Current investments (-€550,000) and Other debts (-€71,478)
- Financial fixed assets -€65,276
down €65,276 (-97.7%), from €66,826 to €1,550
- Receivables within one year +€58,029
up €58,029 (+179%), from €32,428 to €90,456
of which Other amounts receivable: +€52,633
- Tangible fixed assets -€53,813
down €53,813 (-16.6%), from €324,973 to €271,160
of which Leasing and similar rights: -€49,901
- Reserves +€105,510
up €105,510 (+6.5%), from €1.6m to €1.7m
of which Tax-exempt reserves: +€130,510
- Other debts -€71,478
down €71,478 (-57.8%), from €123,644 to €52,166
- Tax, wage and social debts -€24,582
down €24,582 (-20.1%), from €122,231 to €97,650
of which Taxes: -€42,231
- Advances received +€23,416
up €23,416 (+24.3%), from €96,524 to €119,940
- Gross operating margin -€117,930
down €117,930 (-15.1%), from €781,876 to €663,946
- Financial charges +€64,063
up €64,063 (+521%), from €12,295 to €76,358
of which Non-recurring financial charges: +€65,726
- Write-downs -€30,961
new in 2025: -€30,961
- Taxes -€27,973
down €27,973 (-32.9%), from €84,966 to €56,994
- Staff costs +€26,571
up €26,571 (+7.3%), from €365,552 to €392,123
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 | €2,217,213 | €2,241,934 | +€24,721 | +1.1% |
| Fixed assets | 21/28 | €391,798 | €272,710 | -€119,088 | -30.4% |
| Tangible fixed assets | 22/27 | €324,973 | €271,160 | -€53,813 | -16.6% |
| Furniture and vehicles | 24 | €19,490 | €15,579 | -€3,911 | -20.1% |
| Leasing and similar rights | 25 | €305,483 | €255,581 | -€49,901 | -16.3% |
| Financial fixed assets | 28 | €66,826 | €1,550 | -€65,276 | -97.7% |
| Current assets | 29/58 | €1,825,415 | €1,969,224 | +€143,809 | +7.9% |
| Stocks and contracts in progress | 3 | €925,744 | €952,544 | +€26,801 | +2.9% |
| Stocks | 30/36 | €925,744 | €952,544 | +€26,801 | +2.9% |
| Amounts receivable within one year | 40/41 | €32,428 | €90,456 | +€58,029 | +179% |
| Trade receivables | 40 | €32,428 | €37,823 | +€5,396 | +16.6% |
| Other amounts receivable | 41 | - | €52,633 | +€52,633 | |
| Current investments | 50/53 | - | €550,000 | +€550,000 | |
| Cash at bank and in hand | 54/58 | €855,994 | €337,397 | -€518,596 | -60.6% |
| Deferred charges and accrued income | 490/1 | €11,250 | €38,826 | +€27,576 | +245% |
| Total equity and liabilities | 10/49 | €2,217,213 | €2,241,934 | +€24,721 | +1.1% |
| Equity | 10/15 | €1,835,293 | €1,939,306 | +€104,012 | +5.7% |
| Contributions | 10/11 | €196,100 | €196,100 | = | 0.0% |
| Reserves | 13 | €1,631,250 | €1,736,760 | +€105,510 | +6.5% |
| Tax-exempt reserves | 132 | €56,250 | €186,760 | +€130,510 | +232% |
| Distributable reserves | 133 | €1,575,000 | €1,550,000 | -€25,000 | -1.6% |
| Profit (loss) carried forward | 14 | €7,943 | €6,446 | -€1,498 | -18.9% |
| Amounts payable | 17/49 | €381,920 | €302,628 | -€79,292 | -20.8% |
| Amounts payable within one year | 42/48 | €381,920 | €302,628 | -€79,292 | -20.8% |
| Financial debts | 43 | €8,333 | €8,333 | = | 0.0% |
| Credit institutions | 430/8 | €8,333 | €8,333 | = | 0.0% |
| Trade debts | 44 | €31,187 | €24,539 | -€6,648 | -21.3% |
| Suppliers | 440/4 | €31,187 | €24,539 | -€6,648 | -21.3% |
| Advances received on contracts in progress | 46 | €96,524 | €119,940 | +€23,416 | +24.3% |
| Taxes, remuneration and social security | 45 | €122,231 | €97,650 | -€24,582 | -20.1% |
| Taxes | 450/3 | €74,655 | €32,425 | -€42,231 | -56.6% |
| Remuneration and social security | 454/9 | €47,576 | €65,225 | +€17,649 | +37.1% |
| Other amounts payable | 47/48 | €123,644 | €52,166 | -€71,478 | -57.8% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €365,552 | €392,123 | +€26,571 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,843 | €58,561 | +€2,717 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€30,961 | -€30,961 | |
| Other operating charges | 640/8 | €30,789 | €50,485 | +€19,696 | +64.0% |
| Gross operating margin | 9900 | €781,876 | €663,946 | -€117,930 | -15.1% |
| Operating profit (loss) | 9901 | €329,692 | €193,738 | -€135,954 | -41.2% |
| Financial income | 75/76B | €32,759 | €43,626 | +€10,867 | +33.2% |
| Recurring financial income | 75 | €32,759 | €43,626 | +€10,867 | +33.2% |
| Financial charges | 65/66B | €12,295 | €76,358 | +€64,063 | +521% |
| Recurring financial charges | 65 | €12,295 | €10,632 | -€1,663 | -13.5% |
| Non-recurring financial charges | 66B | - | €65,726 | +€65,726 | |
| Profit (loss) for the period before taxes | 9903 | €350,156 | €161,006 | -€189,150 | -54.0% |
| Income taxes | 67/77 | €84,966 | €56,994 | -€27,973 | -32.9% |
| Profit (loss) for the period | 9904 | €265,190 | €104,012 | -€161,177 | -60.8% |
| Transfer to tax-exempt reserves | 689 | - | €130,510 | +€130,510 | |
| Profit (loss) for the period to be appropriated | 9905 | €265,190 | -€26,498 | -€291,687 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.