EOLUZ: 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.
EOLUZ
Largest movements
- Stocks and contracts -€195,570
down €195,570 (-15.7%), from €1.2m to €1.0m
of which Contracts in progress: -€241,397
- Receivables within one year +€179,345
up €179,345 (+21.9%), from €818,800 to €998,145
of which Trade receivables: +€188,440
- Cash -€42,958
down €42,958 (-74.7%), from €57,470 to €14,512
mainly Trade debts (-€216,820) and Receivables within one year (-€179,345)
- Trade debts -€216,820
down €216,820 (-22.7%), from €955,490 to €738,670
- Other debts +€124,217
up €124,217 (+11326.0%), from €1,097 to €125,313
- Tax, wage and social debts +€52,081
up €52,081 (+46.5%), from €112,003 to €164,084
of which Taxes: +€54,057
- Write-downs +€102,997
up €102,997, from -€98,402 to €4,595
- Gross operating margin +€60,913
up €60,913 (+6.5%), from €939,683 to €1.0m
- Staff costs -€23,929
down €23,929 (-2.9%), from €812,402 to €788,473
- Taxes +€20,987
up €20,987 (+63.5%), from €33,070 to €54,057
- Financial charges -€11,559
down €11,559 (-45.2%), from €25,575 to €14,016
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 | €2,189,401 | €2,148,928 | -€40,472 | -1.8% |
| Fixed assets | 21/28 | €29,961 | €48,883 | +€18,922 | +63.2% |
| Tangible fixed assets | 22/27 | €29,516 | €48,438 | +€18,922 | +64.1% |
| Plant, machinery and equipment | 23 | €23,238 | €27,073 | +€3,835 | +16.5% |
| Furniture and vehicles | 24 | €6,278 | €21,364 | +€15,087 | +240.3% |
| Financial fixed assets | 28 | €445 | €445 | = | 0.0% |
| Current assets | 29/58 | €2,159,440 | €2,100,046 | -€59,394 | -2.8% |
| Stocks and contracts in progress | 3 | €1,242,311 | €1,046,741 | -€195,570 | -15.7% |
| Stocks | 30/36 | €321,408 | €367,235 | +€45,827 | +14.3% |
| Contracts in progress | 37 | €920,904 | €679,506 | -€241,397 | -26.2% |
| Amounts receivable within one year | 40/41 | €818,800 | €998,145 | +€179,345 | +21.9% |
| Trade receivables | 40 | €765,139 | €953,579 | +€188,440 | +24.6% |
| Other amounts receivable | 41 | €53,661 | €44,566 | -€9,095 | -16.9% |
| Cash at bank and in hand | 54/58 | €57,470 | €14,512 | -€42,958 | -74.7% |
| Deferred charges and accrued income | 490/1 | €40,858 | €40,647 | -€211 | -0.5% |
| Total equity and liabilities | 10/49 | €2,189,401 | €2,148,928 | -€40,472 | -1.8% |
| Equity | 10/15 | €1,120,810 | €1,120,861 | +€50 | 0.0% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €520,810 | €520,861 | +€50 | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,050 | €0 | -€21,050 | -100.0% |
| Distributable reserves | 133 | €439,760 | €460,861 | +€21,100 | +4.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,068,590 | €1,028,068 | -€40,523 | -3.8% |
| Amounts payable within one year | 42/48 | €1,068,590 | €1,028,068 | -€40,523 | -3.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €955,490 | €738,670 | -€216,820 | -22.7% |
| Suppliers | 440/4 | €955,490 | €738,670 | -€216,820 | -22.7% |
| Taxes, remuneration and social security | 45 | €112,003 | €164,084 | +€52,081 | +46.5% |
| Taxes | 450/3 | €33,070 | €87,127 | +€54,057 | +163.5% |
| Remuneration and social security | 454/9 | €78,933 | €76,958 | -€1,976 | -2.5% |
| Other amounts payable | 47/48 | €1,097 | €125,313 | +€124,217 | +11326.0% |
| Non-recurring operating income | 76A | €0 | €22,349 | +€22,349 | |
| Remuneration, social security and pensions | 62 | €812,402 | €788,473 | -€23,929 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,755 | €22,081 | +€5,325 | +31.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€98,402 | €4,595 | +€102,997 | |
| Other operating charges | 640/8 | €3,001 | €3,115 | +€114 | +3.8% |
| Non-recurring operating charges | 66A | €98,194 | €0 | -€98,194 | -100.0% |
| Gross operating margin | 9900 | €939,683 | €1,000,595 | +€60,913 | +6.5% |
| Operating profit (loss) | 9901 | €107,732 | €182,332 | +€74,600 | +69.2% |
| Financial income | 75/76B | €0 | €10,291 | +€10,291 | |
| Recurring financial income | 75 | €0 | €10,291 | +€10,291 | |
| Financial charges | 65/66B | €25,575 | €14,016 | -€11,559 | -45.2% |
| Recurring financial charges | 65 | €25,575 | €14,016 | -€11,559 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €82,157 | €178,607 | +€96,450 | +117.4% |
| Income taxes | 67/77 | €33,070 | €54,057 | +€20,987 | +63.5% |
| Profit (loss) for the period | 9904 | €49,087 | €124,550 | +€75,463 | +153.7% |
| Transfer from tax-exempt reserves | 789 | - | €21,050 | +€21,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,087 | €145,600 | +€96,513 | +196.6% |
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.