EPICURE: 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.
EPICURE
Largest movements
- Receivables after one year +€55,153
up €55,153 (+35.3%), from €156,330 to €211,483
- Cash +€6,002
up €6,002 (+1193.0%), from €503 to €6,505
- Reserves +€43,700
up €43,700 (+30.8%), from €142,000 to €185,700
- Other debts +€18,550
up €18,550, from €0 to €18,550
- Gross operating margin +€5,019
up €5,019 (+10.0%), from €50,380 to €55,399
- Taxes +€2,240
up €2,240 (+11.9%), from €18,833 to €21,073
- Financial income +€1,916
up €1,916 (+22.6%), from €8,498 to €10,415
- Depreciation +€561
up €561 (+254.4%), from €221 to €782
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,825 | €222,170 | +€63,345 | +39.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,806 | €1,272 | -€534 | -29.6% |
| Tangible fixed assets | 22/27 | €1,806 | €1,272 | -€534 | -29.6% |
| Furniture and vehicles | 24 | €1,806 | €1,272 | -€534 | -29.6% |
| Current assets | 29/58 | €157,019 | €220,898 | +€63,879 | +40.7% |
| Amounts receivable after more than one year | 29 | €156,330 | €211,483 | +€55,153 | +35.3% |
| Other amounts receivable | 291 | €156,330 | €211,483 | +€55,153 | +35.3% |
| Amounts receivable within one year | 40/41 | €0 | €1,371 | +€1,371 | |
| Other amounts receivable | 41 | €0 | €1,371 | +€1,371 | |
| Cash at bank and in hand | 54/58 | €503 | €6,505 | +€6,002 | +1193.0% |
| Deferred charges and accrued income | 490/1 | €186 | €1,539 | +€1,353 | +727.1% |
| Total equity and liabilities | 10/49 | €158,825 | €222,170 | +€63,345 | +39.9% |
| Equity | 10/15 | €144,120 | €188,796 | +€44,676 | +31.0% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €142,000 | €185,700 | +€43,700 | +30.8% |
| Distributable reserves | 133 | €142,000 | €185,700 | +€43,700 | +30.8% |
| Profit (loss) carried forward | 14 | €2,120 | €3,096 | +€976 | +46.1% |
| Amounts payable | 17/49 | €14,705 | €33,374 | +€18,668 | +127.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €14,705 | €33,374 | +€18,668 | +127.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €205 | - | -€205 | |
| Credit institutions | 430/8 | €205 | - | -€205 | |
| Trade debts | 44 | €1,415 | €736 | -€679 | -48.0% |
| Suppliers | 440/4 | €1,415 | €736 | -€679 | -48.0% |
| Taxes, remuneration and social security | 45 | €13,085 | €14,087 | +€1,003 | +7.7% |
| Taxes | 450/3 | €13,085 | €14,087 | +€1,003 | +7.7% |
| Other amounts payable | 47/48 | €0 | €18,550 | +€18,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221 | €782 | +€561 | +254.4% |
| Other operating charges | 640/8 | €236 | - | -€236 | |
| Gross operating margin | 9900 | €50,380 | €55,399 | +€5,019 | +10.0% |
| Operating profit (loss) | 9901 | €49,924 | €54,617 | +€4,694 | +9.4% |
| Financial income | 75/76B | €8,498 | €10,415 | +€1,916 | +22.6% |
| Recurring financial income | 75 | €8,498 | €10,415 | +€1,916 | +22.6% |
| Financial charges | 65/66B | €1,561 | €1,163 | -€398 | -25.5% |
| Recurring financial charges | 65 | €1,561 | €1,163 | -€398 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €56,861 | €63,869 | +€7,008 | +12.3% |
| Income taxes | 67/77 | €18,833 | €21,073 | +€2,240 | +11.9% |
| Profit (loss) for the period | 9904 | €38,028 | €42,796 | +€4,768 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,028 | €42,796 | +€4,768 | +12.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 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.