EOLY: 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.
What changed
EOLY
financial year 2022 compared with 2021filed annual accounts (NBB)
Net result for the year
-€725,524
2021 · €46,604-€772,128
Equity
€44.1m
2021 · €44.8m-€635,334
Cash
€7.2m
2021 · €4,956+€7.2m
Balance sheet total
€62.7m
2021 · €55.0m+€7.7m
Largest movements
Assets
- Receivables within one year +€17.7m
up €17.7m (+79.6%), from €22.3m to €40.0m
of which Trade receivables: +€18.6m
- Tangible fixed assets -€14.3m
down €14.3m (-88.6%), from €16.2m to €1.8m
of which Plant, machinery and equipment: -€13.3m
- Cash +€7.2m
up €7.2m (+144,513%), from €4,956 to €7.2m
mainly Investment in fixed assets (net) (+€12.4m) and Trade debts (+€9.3m)
- Stocks and contracts -€3.1m
down €3.1m (-19.5%), from €15.7m to €12.6m
of which Stocks: -€2.6m
Equity and liabilities
- Trade debts +€9.3m
up €9.3m (+103%), from €9.0m to €18.4m
- Short-term financial debts -€1.0m
no longer reported in 2022 (was €1.0m)
- Profit (loss) carried forward -€725,525
down €725,525 (-38.4%), from €1.9m to €1.2m
Income statement
- Goods and materials +€38.0m
up €38.0m (+47.9%), from €79.4m to €117.4m
of which Purchases: +€34.3m
- Turnover +€35.8m
up €35.8m (+42.3%), from €84.5m to €120.3m
- Other operating income -€2.3m
down €2.3m (-50.4%), from €4.6m to €2.3m
- Staff costs -€1.4m
down €1.4m (-99.3%), from €1.4m to €9,123
From the 2021 result to the 2022 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.
Result 2021
€46,604
Turnover
+€35.8m
Other operating income
-€2.3m
Goods and materials
-€38.0m
Services and other goods
+€1.0m
Staff costs
+€1.4m
Depreciation
+€694,062
Write-downs
-€753,291
Other operating charges
+€60,167
Other operating items
+€775,407
Financial income
+€589,531
Financial charges
+€10,898
Taxes
+€1,990
Result 2022
-€725,524
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€4.3m
Investment
+€12.4m
Financing
-€934,458
Cash 2021
€4,956
From operations (derived)
-€4.3m
Net result for the year
-€725,524
Depreciation
+€2.1m
Stocks and contracts
+€3.1m
Receivables within one year
-€17.7m
Deferred charges and accrued income
-€314,795
Trade debts
+€9.3m
Smaller working-capital items
-€10,598
Investment (derived)
+€12.4m
Investment in fixed assets (net)
+€12.4m
Financing
-€934,458
Short-term financial debts
-€1.0m
Contributions, distributions and other
+€90,191
Cash 2022
€7.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,003,502 | €62,666,394 | +€7.7m | +13.9% |
| Fixed assets | 21/28 | €17,021,466 | €2,524,591 | -€14.5m | -85.2% |
| Intangible fixed assets | 21 | €443,400 | €282,582 | -€160,818 | -36.3% |
| Tangible fixed assets | 22/27 | €16,178,066 | €1,842,008 | -€14.3m | -88.6% |
| Land and buildings | 22 | €225,716 | €396,314 | +€170,598 | +75.6% |
| Plant, machinery and equipment | 23 | €14,771,996 | €1,423,934 | -€13.3m | -90.4% |
| Furniture and vehicles | 24 | €527 | €190 | -€337 | -63.9% |
| Assets under construction and advance payments | 27 | €1,179,827 | €21,570 | -€1.2m | -98.2% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €37,982,036 | €60,141,804 | +€22.2m | +58.3% |
| Stocks and contracts in progress | 3 | €15,665,513 | €12,607,788 | -€3.1m | -19.5% |
| Stocks | 30/36 | €15,255,513 | €12,607,788 | -€2.6m | -17.4% |
| Finished goods | 33 | €12,917,394 | €10,659,708 | -€2.3m | -17.5% |
| Advance payments | 36 | €2,338,119 | €1,948,080 | -€390,040 | -16.7% |
| Contracts in progress | 37 | €410,000 | - | -€410,000 | |
| Amounts receivable within one year | 40/41 | €22,287,159 | €40,027,814 | +€17.7m | +79.6% |
| Trade receivables | 40 | €21,252,666 | €39,856,563 | +€18.6m | +87.5% |
| Other amounts receivable | 41 | €1,034,493 | €171,252 | -€863,241 | -83.4% |
| Cash at bank and in hand | 54/58 | €4,956 | €7,166,999 | +€7.2m | +144,513% |
| Deferred charges and accrued income | 490/1 | €24,408 | €339,203 | +€314,795 | +1,290% |
| Total equity and liabilities | 10/49 | €55,003,502 | €62,666,394 | +€7.7m | +13.9% |
| Equity | 10/15 | €44,774,632 | €44,139,298 | -€635,334 | -1.4% |
| Contributions | 10/11 | €42,137,710 | €42,137,710 | +€0 | 0.0% |
| Capital | 10 | €42,137,710 | €42,137,710 | +€0 | 0.0% |
| Issued capital | 100 | €42,137,710 | €42,137,710 | +€0 | 0.0% |
| Reserves | 13 | €381,403 | €381,403 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €371,633 | €371,633 | +€0 | 0.0% |
| Legal reserve | 130 | €371,633 | €371,633 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €9,770 | €9,770 | -€1 | 0.0% |
| Profit (loss) carried forward | 14 | €1,891,241 | €1,165,716 | -€725,525 | -38.4% |
| Investment grants | 15 | €364,278 | €454,469 | +€90,191 | +24.8% |
| Amounts payable | 17/49 | €10,228,870 | €18,527,096 | +€8.3m | +81.1% |
| Amounts payable within one year | 42/48 | €10,227,762 | €18,527,096 | +€8.3m | +81.1% |
| Financial debts | 43 | €1,024,649 | - | -€1.0m | |
| Credit institutions | 430/8 | €1,024,649 | - | -€1.0m | |
| Trade debts | 44 | €9,038,323 | €18,371,796 | +€9.3m | +103% |
| Suppliers | 440/4 | €9,038,323 | €18,371,796 | +€9.3m | +103% |
| Taxes, remuneration and social security | 45 | €128,790 | €149,300 | +€20,510 | +15.9% |
| Taxes | 450/3 | €127,889 | €149,300 | +€21,411 | +16.7% |
| Remuneration and social security | 454/9 | €901 | - | -€901 | |
| Other amounts payable | 47/48 | €36,000 | €6,000 | -€30,000 | -83.3% |
| Accrued charges and deferred income | 492/3 | €1,108 | - | -€1,108 | |
| Operating income | 70/76A | €88,755,546 | €122,279,863 | +€33.5m | +37.8% |
| Turnover | 70 | €84,525,070 | €120,306,512 | +€35.8m | +42.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€820,922 | -€410,000 | +€410,922 | +50.1% |
| Own construction capitalised | 72 | €66,101 | - | -€66,101 | |
| Other operating income | 74 | €4,624,267 | €2,292,631 | -€2.3m | -50.4% |
| Non-recurring operating income | 76A | €361,030 | €90,720 | -€270,310 | -74.9% |
| Operating charges | 60/66A | €88,877,836 | €123,776,701 | +€34.9m | +39.3% |
| Goods for resale, raw materials and consumables | 60 | €79,380,439 | €117,383,078 | +€38.0m | +47.9% |
| Purchases | 600/8 | €80,871,699 | €115,125,392 | +€34.3m | +42.4% |
| Change in stocks: decrease (increase) | 609 | -€1,491,260 | €2,257,686 | +€3.7m | |
| Services and other goods | 61 | €5,284,896 | €4,243,522 | -€1.0m | -19.7% |
| Remuneration, social security and pensions | 62 | €1,369,689 | €9,123 | -€1.4m | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,797,791 | €2,103,729 | -€694,062 | -24.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€770,003 | -€16,712 | +€753,291 | +97.8% |
| Other operating charges | 640/8 | €112,900 | €52,733 | -€60,167 | -53.3% |
| Non-recurring operating charges | 66A | €702,124 | €1,227 | -€700,897 | -99.8% |
| Operating profit (loss) | 9901 | -€122,290 | -€1,496,838 | -€1.4m | -1,124% |
| Financial income | 75/76B | €190,676 | €780,207 | +€589,531 | +309% |
| Recurring financial income | 75 | €169,354 | €780,207 | +€610,853 | +361% |
| Income from financial fixed assets | 750 | €1,435 | - | -€1,435 | |
| Income from current assets | 751 | €2,516 | €4,978 | +€2,462 | +97.8% |
| Other financial income | 752/9 | €165,403 | €775,230 | +€609,827 | +369% |
| Non-recurring financial income | 76B | €21,322 | - | -€21,322 | |
| Financial charges | 65/66B | €19,792 | €8,894 | -€10,898 | -55.1% |
| Recurring financial charges | 65 | €19,792 | €8,894 | -€10,898 | -55.1% |
| Debt charges | 650 | €7,473 | €2,367 | -€5,106 | -68.3% |
| Other financial charges | 652/9 | €12,319 | €6,526 | -€5,793 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €48,594 | -€725,524 | -€774,118 | |
| Income taxes | 67/77 | €1,990 | - | -€1,990 | |
| Taxes | 670/3 | €1,990 | - | -€1,990 | |
| Profit (loss) for the period | 9904 | €46,604 | -€725,524 | -€772,128 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,604 | -€725,524 | -€772,128 |
Source: filed annual accounts (NBB), financial years ended 31 March 2021 and 31 March 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.