EP PLUS: 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 PLUS
Largest movements
- Receivables within one year -€194,711
down €194,711 (-19.1%), from €1.0m to €827,265
of which Trade receivables: -€188,553
- Cash -€147,471
down €147,471 (-53.8%), from €274,364 to €126,893
mainly Trade debts (-€211,358) and Current portion of long-term debt (-€150,000)
- Stocks and contracts -€22,448
down €22,448 (-14.6%), from €153,269 to €130,821
- Deferred charges and accrued income +€20,033
up €20,033 (+590%), from €3,396 to €23,429
- Trade debts -€211,358
down €211,358 (-19.9%), from €1.1m to €848,348
- Current portion of long-term debt -€150,000
no longer reported in 2025 (was €150,000)
- Profit (loss) carried forward +€19,384
up €19,384 (+9.4%), from €205,473 to €224,857
- Gross operating margin -€14,607
down €14,607 (-8.6%), from €169,669 to €155,063
- Taxes -€7,308
down €7,308 (-23.9%), from €30,613 to €23,305
- Staff costs +€5,557
up €5,557 (+14.4%), from €38,692 to €44,248
- Financial charges +€3,658
up €3,658 (+78.8%), from €4,640 to €8,298
- Depreciation +€3,558
up €3,558 (+31.4%), from €11,317 to €14,874
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 | €1,475,405 | €1,135,539 | -€339,865 | -23.0% |
| Fixed assets | 21/28 | €22,401 | €27,132 | +€4,732 | +21.1% |
| Intangible fixed assets | 21 | €6,911 | €2,962 | -€3,949 | -57.1% |
| Tangible fixed assets | 22/27 | €15,310 | €23,990 | +€8,681 | +56.7% |
| Land and buildings | 22 | €9,366 | €8,737 | -€629 | -6.7% |
| Plant, machinery and equipment | 23 | - | €8,825 | +€8,825 | |
| Furniture and vehicles | 24 | €5,944 | €6,428 | +€484 | +8.2% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €1,453,004 | €1,108,407 | -€344,597 | -23.7% |
| Stocks and contracts in progress | 3 | €153,269 | €130,821 | -€22,448 | -14.6% |
| Stocks | 30/36 | €153,269 | €130,821 | -€22,448 | -14.6% |
| Amounts receivable within one year | 40/41 | €1,021,976 | €827,265 | -€194,711 | -19.1% |
| Trade receivables | 40 | €974,042 | €785,489 | -€188,553 | -19.4% |
| Other amounts receivable | 41 | €47,934 | €41,776 | -€6,157 | -12.8% |
| Cash at bank and in hand | 54/58 | €274,364 | €126,893 | -€147,471 | -53.8% |
| Deferred charges and accrued income | 490/1 | €3,396 | €23,429 | +€20,033 | +590% |
| Total equity and liabilities | 10/49 | €1,475,405 | €1,135,539 | -€339,865 | -23.0% |
| Equity | 10/15 | €260,473 | €279,857 | +€19,384 | +7.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,473 | €224,857 | +€19,384 | +9.4% |
| Amounts payable | 17/49 | €1,214,932 | €855,683 | -€359,249 | -29.6% |
| Amounts payable within one year | 42/48 | €1,214,932 | €855,683 | -€359,249 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €1,059,706 | €848,348 | -€211,358 | -19.9% |
| Suppliers | 440/4 | €1,059,706 | €848,348 | -€211,358 | -19.9% |
| Taxes, remuneration and social security | 45 | €4,417 | €6,526 | +€2,109 | +47.8% |
| Taxes | 450/3 | €36 | €36 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,381 | €6,490 | +€2,109 | +48.1% |
| Other amounts payable | 47/48 | €809 | €809 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €38,692 | €44,248 | +€5,557 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,317 | €14,874 | +€3,558 | +31.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,340 | - | -€1,340 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €169,669 | €155,063 | -€14,607 | -8.6% |
| Operating profit (loss) | 9901 | €118,202 | €95,820 | -€22,383 | -18.9% |
| Financial income | 75/76B | €2,857 | €167 | -€2,690 | -94.2% |
| Recurring financial income | 75 | €2,857 | €167 | -€2,690 | -94.2% |
| Financial charges | 65/66B | €4,640 | €8,298 | +€3,658 | +78.8% |
| Recurring financial charges | 65 | €4,640 | €8,298 | +€3,658 | +78.8% |
| Profit (loss) for the period before taxes | 9903 | €116,420 | €87,688 | -€28,731 | -24.7% |
| Income taxes | 67/77 | €30,613 | €23,305 | -€7,308 | -23.9% |
| Profit (loss) for the period | 9904 | €85,807 | €64,384 | -€21,423 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,807 | €64,384 | -€21,423 | -25.0% |
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 16 October 2026 via checked.be.