EP Projects: what changed
EP Projects
Largest movements
- Receivables within one year -€33,815
down €33,815 (-23.5%), from €143,890 to €110,074
of which Other amounts receivable: -€36,656
- Stocks and contracts +€15,677
new in 2025: €15,677
of which Contracts in progress: +€12,677
- Cash -€15,082
down €15,082 (-59.1%), from €25,502 to €10,419
mainly Contributions, distributions and other (-€50,000) and Advances received (-€31,434)
- Tangible fixed assets -€11,143
down €11,143 (-34.8%), from €32,019 to €20,875
of which Furniture and vehicles: -€13,316
- Advances received -€31,434
no longer reported in 2025 (was €31,434)
- Reserves -€14,387
down €14,387 (-14.8%), from €97,488 to €83,101
of which Distributable reserves: -€14,387
- Other debts +€14,310
new in 2025: €14,310
- Debts after one year -€12,481
down €12,481 (-53.6%), from €23,292 to €10,812
- Trade debts +€10,662
up €10,662 (+82.6%), from €12,912 to €23,574
- Staff costs +€10,292
up €10,292 (+48.2%), from €21,352 to €31,644
- Taxes -€2,807
down €2,807 (-21.7%), from €12,916 to €10,109
- Other operating charges +€1,761
up €1,761 (+111%), from €1,591 to €3,352
- Financial income -€1,743
down €1,743 (-52.7%), from €3,304 to €1,561
- Gross operating margin -€1,597
down €1,597 (-1.7%), from €92,234 to €90,637
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,955 | €161,811 | -€43,144 | -21.1% |
| Fixed assets | 21/28 | €34,040 | €22,368 | -€11,672 | -34.3% |
| Intangible fixed assets | 21 | €1,991 | €1,463 | -€528 | -26.5% |
| Tangible fixed assets | 22/27 | €32,019 | €20,875 | -€11,143 | -34.8% |
| Plant, machinery and equipment | 23 | €7,637 | €9,810 | +€2,173 | +28.5% |
| Furniture and vehicles | 24 | €24,382 | €11,065 | -€13,316 | -54.6% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €170,915 | €139,443 | -€31,472 | -18.4% |
| Stocks and contracts in progress | 3 | - | €15,677 | +€15,677 | |
| Stocks | 30/36 | - | €3,000 | +€3,000 | |
| Contracts in progress | 37 | - | €12,677 | +€12,677 | |
| Amounts receivable within one year | 40/41 | €143,890 | €110,074 | -€33,815 | -23.5% |
| Trade receivables | 40 | €98,124 | €100,964 | +€2,840 | +2.9% |
| Other amounts receivable | 41 | €45,766 | €9,110 | -€36,656 | -80.1% |
| Cash at bank and in hand | 54/58 | €25,502 | €10,419 | -€15,082 | -59.1% |
| Deferred charges and accrued income | 490/1 | €1,523 | €3,271 | +€1,748 | +115% |
| Total equity and liabilities | 10/49 | €204,955 | €161,811 | -€43,144 | -21.1% |
| Equity | 10/15 | €103,688 | €89,301 | -€14,387 | -13.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €97,488 | €83,101 | -€14,387 | -14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €95,628 | €81,241 | -€14,387 | -15.0% |
| Amounts payable | 17/49 | €101,267 | €72,510 | -€28,757 | -28.4% |
| Amounts payable after more than one year | 17 | €23,292 | €10,812 | -€12,481 | -53.6% |
| Financial debts | 170/4 | €23,292 | €10,812 | -€12,481 | -53.6% |
| Amounts payable within one year | 42/48 | €77,975 | €61,698 | -€16,276 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €13,312 | €12,481 | -€831 | -6.2% |
| Financial debts | 43 | €6,741 | €6,731 | -€9 | -0.1% |
| Credit institutions | 430/8 | €6,741 | €6,731 | -€9 | -0.1% |
| Trade debts | 44 | €12,912 | €23,574 | +€10,662 | +82.6% |
| Suppliers | 440/4 | €12,912 | €23,574 | +€10,662 | +82.6% |
| Advances received on contracts in progress | 46 | €31,434 | - | -€31,434 | |
| Taxes, remuneration and social security | 45 | €13,577 | €4,602 | -€8,975 | -66.1% |
| Taxes | 450/3 | €4,994 | €1,109 | -€3,885 | -77.8% |
| Remuneration and social security | 454/9 | €8,583 | €3,493 | -€5,091 | -59.3% |
| Other amounts payable | 47/48 | - | €14,310 | +€14,310 | |
| Non-recurring operating income | 76A | - | €42 | +€42 | |
| Remuneration, social security and pensions | 62 | €21,352 | €31,644 | +€10,292 | +48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,928 | €8,511 | -€417 | -4.7% |
| Other operating charges | 640/8 | €1,591 | €3,352 | +€1,761 | +111% |
| Non-recurring operating charges | 66A | €410 | - | -€410 | |
| Gross operating margin | 9900 | €92,234 | €90,637 | -€1,597 | -1.7% |
| Operating profit (loss) | 9901 | €59,954 | €47,130 | -€12,824 | -21.4% |
| Financial income | 75/76B | €3,304 | €1,561 | -€1,743 | -52.7% |
| Recurring financial income | 75 | €3,304 | €1,561 | -€1,743 | -52.7% |
| Financial charges | 65/66B | €1,864 | €2,969 | +€1,105 | +59.3% |
| Recurring financial charges | 65 | €1,864 | €2,969 | +€1,105 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €61,394 | €45,722 | -€15,671 | -25.5% |
| Income taxes | 67/77 | €12,916 | €10,109 | -€2,807 | -21.7% |
| Profit (loss) for the period | 9904 | €48,478 | €35,613 | -€12,865 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,478 | €35,613 | -€12,865 | -26.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.