Epcon: what changed
Two fiscal 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.
Epcon
Largest movements
- Intangible fixed assets +€52,598
up €52,598 (+32.4%), from €162,553 to €215,151
- Receivables within one year +€37,974
up €37,974 (+11.6%), from €326,167 to €364,142
of which Trade receivables: +€44,964
- Cash +€15,356
up €15,356 (+28.3%), from €54,306 to €69,662
mainly Net result for the year (+€117,098) and Depreciation (+€68,798)
- Deferred charges and accrued income -€14,254
down €14,254 (-92.4%), from €15,426 to €1,172
- Profit (loss) carried forward +€117,098
up €117,098 (+579.4%), from €20,212 to €137,310
- Trade debts -€61,003
down €61,003 (-47.6%), from €128,039 to €67,036
- Accrued charges and deferred income +€46,961
up €46,961 (+116.2%), from €40,431 to €87,393
- Current portion of long-term debt -€13,333
down €13,333 (-100.0%), from €13,333 to €0
- Gross operating margin +€43,936
up €43,936 (+16.0%), from €273,745 to €317,681
- Depreciation +€34,905
up €34,905 (+103.0%), from €33,893 to €68,798
- Financial charges +€15,238
up €15,238 (+238.8%), from €6,382 to €21,620
- Staff costs +€12,147
up €12,147 (+12.2%), from €99,354 to €111,500
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 | €564,601 | €657,161 | +€92,560 | +16.4% |
| Fixed assets | 21/28 | €168,701 | €222,185 | +€53,484 | +31.7% |
| Intangible fixed assets | 21 | €162,553 | €215,151 | +€52,598 | +32.4% |
| Tangible fixed assets | 22/27 | €1,553 | €920 | -€633 | -40.8% |
| Plant, machinery and equipment | 23 | €1,553 | €920 | -€633 | -40.8% |
| Financial fixed assets | 28 | €4,595 | €6,114 | +€1,519 | +33.1% |
| Current assets | 29/58 | €395,899 | €434,976 | +€39,077 | +9.9% |
| Amounts receivable within one year | 40/41 | €326,167 | €364,142 | +€37,974 | +11.6% |
| Trade receivables | 40 | €304,737 | €349,701 | +€44,964 | +14.8% |
| Other amounts receivable | 41 | €21,430 | €14,441 | -€6,990 | -32.6% |
| Cash at bank and in hand | 54/58 | €54,306 | €69,662 | +€15,356 | +28.3% |
| Deferred charges and accrued income | 490/1 | €15,426 | €1,172 | -€14,254 | -92.4% |
| Total equity and liabilities | 10/49 | €564,601 | €657,161 | +€92,560 | +16.4% |
| Equity | 10/15 | €365,812 | €482,910 | +€117,098 | +32.0% |
| Contributions | 10/11 | €345,600 | €345,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,212 | €137,310 | +€117,098 | +579.4% |
| Amounts payable | 17/49 | €198,789 | €174,251 | -€24,538 | -12.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €158,358 | €86,858 | -€71,499 | -45.2% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €0 | -€13,333 | -100.0% |
| Financial debts | 43 | €3,182 | €0 | -€3,182 | -100.0% |
| Credit institutions | 430/8 | €3,182 | €0 | -€3,182 | -100.0% |
| Trade debts | 44 | €128,039 | €67,036 | -€61,003 | -47.6% |
| Suppliers | 440/4 | €128,039 | €67,036 | -€61,003 | -47.6% |
| Taxes, remuneration and social security | 45 | €13,175 | €13,569 | +€395 | +3.0% |
| Taxes | 450/3 | €5 | €215 | +€210 | +4196.6% |
| Remuneration and social security | 454/9 | €13,170 | €13,355 | +€185 | +1.4% |
| Other amounts payable | 47/48 | €629 | €6,253 | +€5,624 | +894.3% |
| Accrued charges and deferred income | 492/3 | €40,431 | €87,393 | +€46,961 | +116.2% |
| Remuneration, social security and pensions | 62 | €99,354 | €111,500 | +€12,147 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,893 | €68,798 | +€34,905 | +103.0% |
| Other operating charges | 640/8 | €565 | €520 | -€46 | -8.1% |
| Gross operating margin | 9900 | €273,745 | €317,681 | +€43,936 | +16.0% |
| Operating profit (loss) | 9901 | €139,933 | €136,862 | -€3,071 | -2.2% |
| Financial income | 75/76B | €3,370 | €2,066 | -€1,304 | -38.7% |
| Recurring financial income | 75 | €3,370 | €2,066 | -€1,304 | -38.7% |
| Financial charges | 65/66B | €6,382 | €21,620 | +€15,238 | +238.8% |
| Recurring financial charges | 65 | €6,382 | €21,620 | +€15,238 | +238.8% |
| Profit (loss) for the period before taxes | 9903 | €136,921 | €117,308 | -€19,613 | -14.3% |
| Income taxes | 67/77 | €5 | €210 | +€205 | +4096.6% |
| Profit (loss) for the period | 9904 | €136,916 | €117,098 | -€19,818 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €136,916 | €117,098 | -€19,818 | -14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.