EPC HQ-VISION: 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.
EPC HQ-VISION
Largest movements
- Current investments +€30,000
new in 2025: €30,000
- Cash -€17,094
down €17,094 (-45.6%), from €37,458 to €20,364
mainly Current investments (-€30,000) and Trade debts (-€11,140)
- Receivables within one year +€2,678
up €2,678 (+10.8%), from €24,727 to €27,405
of which Trade receivables: +€2,442
- Reserves +€19,852
up €19,852 (+97.9%), from €20,272 to €40,124
- Trade debts -€11,140
down €11,140 (-48.6%), from €22,908 to €11,768
- Tax, wage and social debts +€7,083
up €7,083 (+74.2%), from €9,542 to €16,626
- Gross operating margin -€1,769
down €1,769 (-6.1%), from €29,094 to €27,325
- Depreciation -€1,024
down €1,024 (-100%), from €1,024 to €0
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 | €62,186 | €77,769 | +€15,584 | +25.1% |
| Current assets | 29/58 | €62,186 | €77,769 | +€15,584 | +25.1% |
| Amounts receivable within one year | 40/41 | €24,727 | €27,405 | +€2,678 | +10.8% |
| Trade receivables | 40 | €24,727 | €27,170 | +€2,442 | +9.9% |
| Other amounts receivable | 41 | - | €235 | +€235 | |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €37,458 | €20,364 | -€17,094 | -45.6% |
| Total equity and liabilities | 10/49 | €62,186 | €77,769 | +€15,584 | +25.1% |
| Equity | 10/15 | €29,272 | €49,124 | +€19,852 | +67.8% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Capital | 10 | - | €9,000 | +€9,000 | |
| Issued capital | 100 | - | €9,000 | +€9,000 | |
| Reserves | 13 | €20,272 | €40,124 | +€19,852 | +97.9% |
| Distributable reserves | 133 | €20,272 | €40,124 | +€19,852 | +97.9% |
| Amounts payable | 17/49 | €32,914 | €28,646 | -€4,268 | -13.0% |
| Amounts payable within one year | 42/48 | €32,450 | €28,393 | -€4,057 | -12.5% |
| Trade debts | 44 | €22,908 | €11,768 | -€11,140 | -48.6% |
| Suppliers | 440/4 | €22,908 | €11,768 | -€11,140 | -48.6% |
| Taxes, remuneration and social security | 45 | €9,542 | €16,626 | +€7,083 | +74.2% |
| Taxes | 450/3 | €9,542 | €16,626 | +€7,083 | +74.2% |
| Accrued charges and deferred income | 492/3 | €464 | €252 | -€212 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,024 | €0 | -€1,024 | -100% |
| Other operating charges | 640/8 | €6 | €0 | -€6 | -100% |
| Gross operating margin | 9900 | €29,094 | €27,325 | -€1,769 | -6.1% |
| Operating profit (loss) | 9901 | €28,064 | €27,325 | -€739 | -2.6% |
| Financial income | 75/76B | €0 | €136 | +€136 | +79,941% |
| Recurring financial income | 75 | €0 | €136 | +€136 | +79,941% |
| Financial charges | 65/66B | €62 | €110 | +€48 | +77.1% |
| Recurring financial charges | 65 | €62 | €110 | +€48 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €28,002 | €27,351 | -€651 | -2.3% |
| Income taxes | 67/77 | €7,730 | €7,499 | -€231 | -3.0% |
| Profit (loss) for the period | 9904 | €20,272 | €19,852 | -€420 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,272 | €19,852 | -€420 | -2.1% |
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.