EP Management Services: 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.
EP Management Services
Largest movements
- Tangible fixed assets +€564,778
up €564,778 (+21.8%), from €2.6m to €3.2m
- Cash -€325,387
down €325,387 (-89.0%), from €365,637 to €40,250
mainly Investment in fixed assets (net) (-€736,450) and Current investments (-€299,183)
- Current investments +€299,183
new in 2025: €299,183
- Other debts +€680,000
new in 2025: €680,000
- Debts after one year -€88,871
down €88,871 (-6.5%), from €1.4m to €1.3m
of which Financial debts: -€91,391
- Profit (loss) carried forward -€59,638
down €59,638 (-5.0%), from €1.2m to €1.1m
- Turnover -€328,919
no longer reported in 2025 (was €328,919)
- Gross operating margin -€163,999
down €163,999 (-55.3%), from €296,807 to €132,808
- Depreciation +€91,904
up €91,904 (+115.2%), from €79,768 to €171,672
- Purchases and services -€38,476
no longer reported in 2025 (was €38,476)
- Other operating charges +€11,266
up €11,266 (+638.0%), from €1,766 to €13,032
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 | €3,491,165 | €4,032,587 | +€541,422 | +15.5% |
| Fixed assets | 21/28 | €2,590,786 | €3,155,564 | +€564,778 | +21.8% |
| Tangible fixed assets | 22/27 | €2,590,786 | €3,155,564 | +€564,778 | +21.8% |
| Land and buildings | 22 | €2,590,786 | €3,155,564 | +€564,778 | +21.8% |
| Current assets | 29/58 | €900,379 | €877,023 | -€23,356 | -2.6% |
| Amounts receivable after more than one year | 29 | €525,000 | €525,000 | = | 0.0% |
| Other amounts receivable | 291 | €525,000 | €525,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,575 | €6,531 | +€956 | +17.1% |
| Other amounts receivable | 41 | €5,575 | €6,531 | +€956 | +17.1% |
| Current investments | 50/53 | - | €299,183 | +€299,183 | |
| Cash at bank and in hand | 54/58 | €365,637 | €40,250 | -€325,387 | -89.0% |
| Deferred charges and accrued income | 490/1 | €4,167 | €6,059 | +€1,892 | +45.4% |
| Total equity and liabilities | 10/49 | €3,491,165 | €4,032,587 | +€541,422 | +15.5% |
| Equity | 10/15 | €2,028,451 | €1,968,813 | -€59,638 | -2.9% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Capital | 10 | €45,000 | €45,000 | = | 0.0% |
| Issued capital | 100 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €791,943 | €791,943 | = | 0.0% |
| Non-distributable reserves | 130/1 | €218,193 | €218,193 | = | 0.0% |
| Legal reserve | 130 | €218,193 | €218,193 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €555,000 | €555,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,191,508 | €1,131,870 | -€59,638 | -5.0% |
| Amounts payable | 17/49 | €1,462,714 | €2,063,774 | +€601,060 | +41.1% |
| Amounts payable after more than one year | 17 | €1,371,920 | €1,283,049 | -€88,871 | -6.5% |
| Financial debts | 170/4 | €1,371,920 | €1,280,529 | -€91,391 | -6.7% |
| Other amounts payable | 178/9 | - | €2,520 | +€2,520 | |
| Amounts payable within one year | 42/48 | €90,544 | €775,625 | +€685,081 | +756.6% |
| Current portion of amounts payable after more than one year | 42 | €90,317 | €91,391 | +€1,074 | +1.2% |
| Trade debts | 44 | - | €3,485 | +€3,485 | |
| Suppliers | 440/4 | - | €3,485 | +€3,485 | |
| Taxes, remuneration and social security | 45 | €227 | €749 | +€522 | +230.1% |
| Taxes | 450/3 | €227 | €749 | +€522 | +230.1% |
| Other amounts payable | 47/48 | - | €680,000 | +€680,000 | |
| Accrued charges and deferred income | 492/3 | €250 | €5,100 | +€4,850 | +1940.0% |
| Turnover | 70 | €328,919 | - | -€328,919 | |
| Goods, raw materials, services and sundry goods | 60/61 | €38,476 | - | -€38,476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,768 | €171,672 | +€91,904 | +115.2% |
| Other operating charges | 640/8 | €1,766 | €13,032 | +€11,266 | +638.0% |
| Gross operating margin | 9900 | €296,807 | €132,808 | -€163,999 | -55.3% |
| Operating profit (loss) | 9901 | €215,273 | -€51,896 | -€267,169 | |
| Financial income | 75/76B | €6,562 | €16,288 | +€9,726 | +148.2% |
| Recurring financial income | 75 | €6,562 | €16,288 | +€9,726 | +148.2% |
| Financial charges | 65/66B | €18,515 | €22,476 | +€3,961 | +21.4% |
| Recurring financial charges | 65 | €18,515 | €22,476 | +€3,961 | +21.4% |
| Profit (loss) for the period before taxes | 9903 | €203,320 | -€58,084 | -€261,404 | |
| Income taxes | 67/77 | €812 | €1,553 | +€741 | +91.3% |
| Profit (loss) for the period | 9904 | €202,508 | -€59,637 | -€262,145 | |
| Profit (loss) for the period to be appropriated | 9905 | €202,508 | -€59,637 | -€262,145 |
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 12 October 2026 via checked.be.