ePD-GROUP: 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.
ePD-GROUP
Largest movements
- Deferred charges and accrued income +€38,655
up €38,655 (+5084.5%), from €760 to €39,415
- Cash +€22,891
up €22,891 (+43.3%), from €52,882 to €75,773
mainly Trade debts (+€44,763) and Stocks and contracts (+€16,961)
- Stocks and contracts -€16,961
down €16,961 (-43.0%), from €39,477 to €22,517
- Receivables within one year -€12,574
down €12,574 (-54.6%), from €23,009 to €10,435
of which Trade receivables: -€13,294
- Tangible fixed assets -€8,397
down €8,397 (-9.6%), from €87,193 to €78,795
of which Furniture and vehicles: -€7,734
- Trade debts +€44,763
up €44,763 (+330.3%), from €13,554 to €58,317
- Other debts -€16,294
down €16,294 (-13.0%), from €125,656 to €109,362
- Tax, wage and social debts -€7,645
no longer reported in 2025 (was €7,645)
- Reserves +€2,391
up €2,391 (+4.8%), from €50,051 to €52,442
- Gross operating margin -€30,965
down €30,965 (-59.2%), from €52,308 to €21,343
- Taxes -€10,673
down €10,673 (-95.7%), from €11,152 to €479
- Depreciation -€4,301
down €4,301 (-20.4%), from €21,111 to €16,810
- Other operating charges +€828
up €828 (+156.8%), from €528 to €1,356
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 | €203,321 | €226,935 | +€23,614 | +11.6% |
| Fixed assets | 21/28 | €87,193 | €78,795 | -€8,397 | -9.6% |
| Tangible fixed assets | 22/27 | €87,193 | €78,795 | -€8,397 | -9.6% |
| Plant, machinery and equipment | 23 | €949 | €285 | -€663 | -69.9% |
| Furniture and vehicles | 24 | €86,244 | €78,510 | -€7,734 | -9.0% |
| Current assets | 29/58 | €116,129 | €148,140 | +€32,011 | +27.6% |
| Stocks and contracts in progress | 3 | €39,477 | €22,517 | -€16,961 | -43.0% |
| Stocks | 30/36 | €39,477 | €22,517 | -€16,961 | -43.0% |
| Amounts receivable within one year | 40/41 | €23,009 | €10,435 | -€12,574 | -54.6% |
| Trade receivables | 40 | €19,517 | €6,224 | -€13,294 | -68.1% |
| Other amounts receivable | 41 | €3,492 | €4,212 | +€720 | +20.6% |
| Cash at bank and in hand | 54/58 | €52,882 | €75,773 | +€22,891 | +43.3% |
| Deferred charges and accrued income | 490/1 | €760 | €39,415 | +€38,655 | +5084.5% |
| Total equity and liabilities | 10/49 | €203,321 | €226,935 | +€23,614 | +11.6% |
| Equity | 10/15 | €56,451 | €58,842 | +€2,391 | +4.2% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €50,051 | €52,442 | +€2,391 | +4.8% |
| Distributable reserves | 133 | €50,051 | €52,442 | +€2,391 | +4.8% |
| Amounts payable | 17/49 | €146,870 | €168,093 | +€21,223 | +14.5% |
| Amounts payable within one year | 42/48 | €146,870 | €167,693 | +€20,823 | +14.2% |
| Financial debts | 43 | €15 | €15 | = | 0.0% |
| Credit institutions | 430/8 | €15 | €15 | = | 0.0% |
| Trade debts | 44 | €13,554 | €58,317 | +€44,763 | +330.3% |
| Suppliers | 440/4 | €13,554 | €58,317 | +€44,763 | +330.3% |
| Taxes, remuneration and social security | 45 | €7,645 | - | -€7,645 | |
| Taxes | 450/3 | €7,645 | - | -€7,645 | |
| Other amounts payable | 47/48 | €125,656 | €109,362 | -€16,294 | -13.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | - | €5,803 | +€5,803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,111 | €16,810 | -€4,301 | -20.4% |
| Other operating charges | 640/8 | €528 | €1,356 | +€828 | +156.8% |
| Gross operating margin | 9900 | €52,308 | €21,343 | -€30,965 | -59.2% |
| Operating profit (loss) | 9901 | €30,669 | €3,178 | -€27,491 | -89.6% |
| Financial income | 75/76B | €597 | €85 | -€512 | -85.8% |
| Recurring financial income | 75 | €597 | €85 | -€512 | -85.8% |
| Financial charges | 65/66B | €659 | €393 | -€267 | -40.4% |
| Recurring financial charges | 65 | €659 | €393 | -€267 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €30,607 | €2,870 | -€27,737 | -90.6% |
| Income taxes | 67/77 | €11,152 | €479 | -€10,673 | -95.7% |
| Profit (loss) for the period | 9904 | €19,455 | €2,391 | -€17,064 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,455 | €2,391 | -€17,064 | -87.7% |
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 9 October 2026 via checked.be.