EPCnu: 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.
EPCnu
Largest movements
- Financial fixed assets +€184,043
new in 2025: €184,043
- Receivables within one year -€47,625
down €47,625 (-45.3%), from €105,221 to €57,596
of which Trade receivables: -€47,521
- Intangible fixed assets +€23,672
up €23,672 (+98.7%), from €23,983 to €47,655
- Cash -€9,124
down €9,124 (-9.4%), from €97,510 to €88,386
mainly Investment in fixed assets (net) (-€217,193) and Trade debts (-€18,233)
- Debts after one year +€95,091
new in 2025: €95,091
- Current portion of long-term debt +€57,509
new in 2025: €57,509
- Trade debts -€18,233
down €18,233 (-12.9%), from €141,005 to €122,771
- Tax, wage and social debts +€14,648
up €14,648 (+19.4%), from €75,351 to €89,999
of which Remuneration and social security: +€20,630
- Gross operating margin +€51,765
up €51,765 (+21.2%), from €244,075 to €295,841
- Staff costs +€42,628
up €42,628 (+18.6%), from €229,627 to €272,256
- Financial charges +€7,835
up €7,835 (+972.5%), from €806 to €8,640
- Depreciation +€4,582
up €4,582 (+93.6%), from €4,895 to €9,478
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 | €229,534 | €382,736 | +€153,202 | +66.7% |
| Fixed assets | 21/28 | €23,983 | €231,698 | +€207,715 | +866.1% |
| Intangible fixed assets | 21 | €23,983 | €47,655 | +€23,672 | +98.7% |
| Financial fixed assets | 28 | - | €184,043 | +€184,043 | |
| Current assets | 29/58 | €205,551 | €151,038 | -€54,513 | -26.5% |
| Amounts receivable within one year | 40/41 | €105,221 | €57,596 | -€47,625 | -45.3% |
| Trade receivables | 40 | €105,060 | €57,538 | -€47,521 | -45.2% |
| Other amounts receivable | 41 | €161 | €57 | -€104 | -64.5% |
| Cash at bank and in hand | 54/58 | €97,510 | €88,386 | -€9,124 | -9.4% |
| Deferred charges and accrued income | 490/1 | €2,821 | €5,056 | +€2,236 | +79.3% |
| Total equity and liabilities | 10/49 | €229,534 | €382,736 | +€153,202 | +66.7% |
| Equity | 10/15 | €13,178 | €16,040 | +€2,861 | +21.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,678 | €13,540 | +€2,861 | +26.8% |
| Amounts payable | 17/49 | €216,356 | €366,696 | +€150,340 | +69.5% |
| Amounts payable after more than one year | 17 | - | €95,091 | +€95,091 | |
| Financial debts | 170/4 | - | €95,091 | +€95,091 | |
| Amounts payable within one year | 42/48 | €216,356 | €271,605 | +€55,249 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | - | €57,509 | +€57,509 | |
| Trade debts | 44 | €141,005 | €122,771 | -€18,233 | -12.9% |
| Suppliers | 440/4 | €141,005 | €122,771 | -€18,233 | -12.9% |
| Advances received on contracts in progress | 46 | - | €1,325 | +€1,325 | |
| Taxes, remuneration and social security | 45 | €75,351 | €89,999 | +€14,648 | +19.4% |
| Taxes | 450/3 | €45,371 | €39,389 | -€5,982 | -13.2% |
| Remuneration and social security | 454/9 | €29,980 | €50,610 | +€20,630 | +68.8% |
| Remuneration, social security and pensions | 62 | €229,627 | €272,256 | +€42,628 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,895 | €9,478 | +€4,582 | +93.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €871 | €0 | -€871 | -100.0% |
| Other operating charges | 640/8 | €776 | €725 | -€52 | -6.6% |
| Gross operating margin | 9900 | €244,075 | €295,841 | +€51,765 | +21.2% |
| Operating profit (loss) | 9901 | €7,905 | €13,383 | +€5,477 | +69.3% |
| Financial income | 75/76B | €1,353 | €1,457 | +€104 | +7.7% |
| Recurring financial income | 75 | €1,353 | €1,457 | +€104 | +7.7% |
| Financial charges | 65/66B | €806 | €8,640 | +€7,835 | +972.5% |
| Recurring financial charges | 65 | €806 | €8,640 | +€7,835 | +972.5% |
| Profit (loss) for the period before taxes | 9903 | €8,453 | €6,199 | -€2,253 | -26.7% |
| Income taxes | 67/77 | €5,189 | €3,338 | -€1,851 | -35.7% |
| Profit (loss) for the period | 9904 | €3,264 | €2,861 | -€403 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,264 | €2,861 | -€403 | -12.3% |
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 11 October 2026 via checked.be.