EPH & PARTNERS: 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.
EPH & PARTNERS
Largest movements
- Cash +€583,049
up €583,049 (+883.9%), from €65,961 to €649,010
mainly Net result for the year (+€412,090) and Investment in fixed assets (net) (+€153,771)
- Tangible fixed assets -€196,900
down €196,900 (-25.2%), from €782,523 to €585,623
of which Land and buildings: -€224,445
- Reserves +€332,951
up €332,951 (+136.3%), from €244,336 to €577,287
of which Distributable reserves: +€332,950
- Other debts +€64,975
up €64,975 (+433.7%), from €14,980 to €79,955
- Tax, wage and social debts +€31,562
up €31,562 (+1229.9%), from €2,566 to €34,128
- Trade debts -€26,289
down €26,289 (-90.4%), from €29,071 to €2,782
- Debts after one year -€23,186
down €23,186 (-22.6%), from €102,393 to €79,207
- Gross operating margin +€491,537
up €491,537 (+3822.9%), from €12,858 to €504,395
- Taxes +€39,647
up €39,647 (+23914.1%), from €166 to €39,813
- Depreciation -€20,185
down €20,185 (-31.9%), from €63,314 to €43,129
- Write-downs +€8,070
new in 2025: €8,070
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 | €1,308,685 | €1,689,117 | +€380,432 | +29.1% |
| Fixed assets | 21/28 | €782,523 | €585,623 | -€196,900 | -25.2% |
| Tangible fixed assets | 22/27 | €782,523 | €585,623 | -€196,900 | -25.2% |
| Land and buildings | 22 | €751,332 | €526,887 | -€224,445 | -29.9% |
| Plant, machinery and equipment | 23 | €3,356 | €921 | -€2,435 | -72.6% |
| Furniture and vehicles | 24 | €27,836 | €14,334 | -€13,502 | -48.5% |
| Assets under construction and advance payments | 27 | - | €43,481 | +€43,481 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €526,162 | €1,103,494 | +€577,332 | +109.7% |
| Amounts receivable after more than one year | 29 | €384,093 | €388,754 | +€4,661 | +1.2% |
| Other amounts receivable | 291 | €384,093 | €388,754 | +€4,661 | +1.2% |
| Amounts receivable within one year | 40/41 | €76,011 | €65,730 | -€10,281 | -13.5% |
| Trade receivables | 40 | €32,019 | €10,494 | -€21,525 | -67.2% |
| Other amounts receivable | 41 | €43,992 | €55,236 | +€11,244 | +25.6% |
| Cash at bank and in hand | 54/58 | €65,961 | €649,010 | +€583,049 | +883.9% |
| Deferred charges and accrued income | 490/1 | €97 | - | -€97 | |
| Total equity and liabilities | 10/49 | €1,308,685 | €1,689,117 | +€380,432 | +29.1% |
| Equity | 10/15 | €1,135,818 | €1,468,769 | +€332,951 | +29.3% |
| Contributions | 10/11 | €337,572 | €337,572 | -€0 | 0.0% |
| Reserves | 13 | €244,336 | €577,287 | +€332,951 | +136.3% |
| Non-distributable reserves | 130/1 | €25,530 | €25,530 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €25,530 | €25,530 | +€0 | 0.0% |
| Distributable reserves | 133 | €218,807 | €551,757 | +€332,950 | +152.2% |
| Profit (loss) carried forward | 14 | €553,910 | €553,910 | -€0 | 0.0% |
| Amounts payable | 17/49 | €172,867 | €220,348 | +€47,481 | +27.5% |
| Amounts payable after more than one year | 17 | €102,393 | €79,207 | -€23,186 | -22.6% |
| Financial debts | 170/4 | €102,393 | €79,207 | -€23,186 | -22.6% |
| Amounts payable within one year | 42/48 | €70,218 | €141,141 | +€70,923 | +101.0% |
| Current portion of amounts payable after more than one year | 42 | €22,511 | €23,186 | +€675 | +3.0% |
| Trade debts | 44 | €29,071 | €2,782 | -€26,289 | -90.4% |
| Suppliers | 440/4 | €29,071 | €2,782 | -€26,289 | -90.4% |
| Advances received on contracts in progress | 46 | €1,090 | €1,090 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,566 | €34,128 | +€31,562 | +1229.9% |
| Taxes | 450/3 | €2,566 | €34,128 | +€31,562 | +1229.9% |
| Other amounts payable | 47/48 | €14,980 | €79,955 | +€64,975 | +433.7% |
| Accrued charges and deferred income | 492/3 | €256 | - | -€256 | |
| Non-recurring operating income | 76A | - | €427,747 | +€427,747 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,314 | €43,129 | -€20,185 | -31.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,070 | +€8,070 | |
| Other operating charges | 640/8 | €3,291 | €1,094 | -€2,197 | -66.8% |
| Gross operating margin | 9900 | €12,858 | €504,395 | +€491,537 | +3822.9% |
| Operating profit (loss) | 9901 | -€53,747 | €452,102 | +€505,849 | |
| Financial income | 75/76B | €3,532 | €1,608 | -€1,924 | -54.5% |
| Recurring financial income | 75 | €1,782 | €1,608 | -€174 | -9.7% |
| Non-recurring financial income | 76B | €1,750 | - | -€1,750 | |
| Financial charges | 65/66B | €2,339 | €1,807 | -€532 | -22.7% |
| Recurring financial charges | 65 | €2,339 | €1,807 | -€532 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€52,555 | €451,903 | +€504,458 | |
| Income taxes | 67/77 | €166 | €39,813 | +€39,647 | +23914.1% |
| Profit (loss) for the period | 9904 | -€52,720 | €412,090 | +€464,810 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,720 | €412,090 | +€464,810 |
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 6 October 2026 via checked.be.