EPICURIAL: 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.
EPICURIAL
Largest movements
- Tangible fixed assets +€325,814
up €325,814 (+295%), from €110,362 to €436,176
of which Land and buildings: +€327,423
- Cash -€136,631
down €136,631 (-51.1%), from €267,548 to €130,917
mainly Investment in fixed assets (net) (-€338,800) and Net result for the year (-€43,508)
- Stocks and contracts +€15,000
up €15,000 (+577%), from €2,598 to €17,598
- Receivables within one year -€13,711
down €13,711 (-85.7%), from €16,008 to €2,297
of which Other amounts receivable: -€7,759
- Debts after one year +€234,217
up €234,217 (+89.9%), from €260,428 to €494,645
of which Financial debts: +€333,117
- Profit (loss) carried forward -€43,509
down €43,509, from €41,791 to -€1,718
- Current portion of long-term debt +€9,052
up €9,052 (+90.3%), from €10,019 to €19,071
- Financial charges +€15,763
up €15,763 (+1,316%), from €1,198 to €16,961
- Depreciation +€4,948
up €4,948 (+61.6%), from €8,038 to €12,986
- Gross operating margin +€4,289
up €4,289 (+43.9%), from -€9,767 to -€5,478
- Other operating charges +€1,773
up €1,773 (+75.7%), from €2,342 to €4,115
- Financial income -€380
no longer reported in 2025 (was €380)
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.
Derived cash bridge
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 | €397,923 | €588,448 | +€190,525 | +47.9% |
| Fixed assets | 21/28 | €110,362 | €436,176 | +€325,814 | +295% |
| Tangible fixed assets | 22/27 | €110,362 | €436,176 | +€325,814 | +295% |
| Land and buildings | 22 | €104,917 | €432,340 | +€327,423 | +312% |
| Furniture and vehicles | 24 | €5,445 | €3,836 | -€1,609 | -29.6% |
| Current assets | 29/58 | €287,561 | €152,272 | -€135,289 | -47.0% |
| Stocks and contracts in progress | 3 | €2,598 | €17,598 | +€15,000 | +577% |
| Stocks | 30/36 | €2,598 | €17,598 | +€15,000 | +577% |
| Amounts receivable within one year | 40/41 | €16,008 | €2,297 | -€13,711 | -85.7% |
| Trade receivables | 40 | €6,897 | €945 | -€5,952 | -86.3% |
| Other amounts receivable | 41 | €9,111 | €1,352 | -€7,759 | -85.2% |
| Cash at bank and in hand | 54/58 | €267,548 | €130,917 | -€136,631 | -51.1% |
| Deferred charges and accrued income | 490/1 | €1,407 | €1,460 | +€53 | +3.8% |
| Total equity and liabilities | 10/49 | €397,923 | €588,448 | +€190,525 | +47.9% |
| Equity | 10/15 | €103,551 | €60,042 | -€43,509 | -42.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €49,360 | €49,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,500 | €47,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,791 | -€1,718 | -€43,509 | |
| Amounts payable | 17/49 | €294,372 | €528,406 | +€234,034 | +79.5% |
| Amounts payable after more than one year | 17 | €260,428 | €494,645 | +€234,217 | +89.9% |
| Financial debts | 170/4 | €10,428 | €343,545 | +€333,117 | +3,194% |
| Other amounts payable | 178/9 | €250,000 | €151,100 | -€98,900 | -39.6% |
| Amounts payable within one year | 42/48 | €33,094 | €31,936 | -€1,158 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €10,019 | €19,071 | +€9,052 | +90.3% |
| Trade debts | 44 | €7,161 | €8,083 | +€922 | +12.9% |
| Suppliers | 440/4 | €7,161 | €8,083 | +€922 | +12.9% |
| Advances received on contracts in progress | 46 | €5,700 | - | -€5,700 | |
| Taxes, remuneration and social security | 45 | €295 | €385 | +€90 | +30.5% |
| Taxes | 450/3 | €295 | €385 | +€90 | +30.5% |
| Other amounts payable | 47/48 | €9,919 | €4,397 | -€5,522 | -55.7% |
| Accrued charges and deferred income | 492/3 | €850 | €1,825 | +€975 | +115% |
| Remuneration, social security and pensions | 62 | €3,562 | €3,593 | +€31 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,038 | €12,986 | +€4,948 | +61.6% |
| Other operating charges | 640/8 | €2,342 | €4,115 | +€1,773 | +75.7% |
| Gross operating margin | 9900 | -€9,767 | -€5,478 | +€4,289 | +43.9% |
| Operating profit (loss) | 9901 | -€23,709 | -€26,172 | -€2,463 | -10.4% |
| Financial income | 75/76B | €380 | - | -€380 | |
| Recurring financial income | 75 | €380 | - | -€380 | |
| Financial charges | 65/66B | €1,198 | €16,961 | +€15,763 | +1,316% |
| Recurring financial charges | 65 | €1,198 | €16,961 | +€15,763 | +1,316% |
| Profit (loss) for the period before taxes | 9903 | -€24,527 | -€43,133 | -€18,606 | -75.9% |
| Income taxes | 67/77 | €408 | €375 | -€33 | -8.1% |
| Profit (loss) for the period | 9904 | -€24,935 | -€43,508 | -€18,573 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,935 | -€43,508 | -€18,573 | -74.5% |
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 19 October 2026 via checked.be.