EPICUROS: 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.
EPICUROS
Largest movements
- Receivables after one year -€25,074
down €25,074 (-21.1%), from €119,100 to €94,026
- Current investments +€19,341
up €19,341 (+12.0%), from €160,977 to €180,318
- Receivables within one year -€7,340
down €7,340 (-20.3%), from €36,173 to €28,833
of which Trade receivables: -€8,172
- Reserves -€8,721
down €8,721 (-9.1%), from €95,661 to €86,939
of which Distributable reserves: -€8,721
- Tax, wage and social debts -€7,343
no longer reported in 2025 (was €7,343)
- Other debts -€5,106
down €5,106 (-7.0%), from €73,022 to €67,917
- Gross operating margin +€3,760
up €3,760 (+64.5%), from -€5,828 to -€2,067
- Other operating charges -€295
down €295 (-8.8%), from €3,364 to €3,069
- Financial charges +€289
up €289 (+28.6%), from €1,010 to €1,299
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 | €433,836 | €412,666 | -€21,170 | -4.9% |
| Fixed assets | 21/28 | €111,337 | €107,216 | -€4,121 | -3.7% |
| Tangible fixed assets | 22/27 | €111,337 | €107,216 | -€4,121 | -3.7% |
| Land and buildings | 22 | €111,337 | €107,216 | -€4,121 | -3.7% |
| Current assets | 29/58 | €322,499 | €305,450 | -€17,049 | -5.3% |
| Amounts receivable after more than one year | 29 | €119,100 | €94,026 | -€25,074 | -21.1% |
| Other amounts receivable | 291 | €119,100 | €94,026 | -€25,074 | -21.1% |
| Amounts receivable within one year | 40/41 | €36,173 | €28,833 | -€7,340 | -20.3% |
| Trade receivables | 40 | €8,993 | €821 | -€8,172 | -90.9% |
| Other amounts receivable | 41 | €27,180 | €28,012 | +€832 | +3.1% |
| Current investments | 50/53 | €160,977 | €180,318 | +€19,341 | +12.0% |
| Cash at bank and in hand | 54/58 | €6,250 | €2,050 | -€4,199 | -67.2% |
| Deferred charges and accrued income | 490/1 | - | €223 | +€223 | |
| Total equity and liabilities | 10/49 | €433,836 | €412,666 | -€21,170 | -4.9% |
| Equity | 10/15 | €353,471 | €344,749 | -€8,721 | -2.5% |
| Contributions | 10/11 | €257,810 | €257,810 | = | 0.0% |
| Capital | 10 | €257,810 | €257,810 | = | 0.0% |
| Issued capital | 100 | €257,810 | €257,810 | = | 0.0% |
| Reserves | 13 | €95,661 | €86,939 | -€8,721 | -9.1% |
| Non-distributable reserves | 130/1 | €25,781 | €25,781 | = | 0.0% |
| Legal reserve | 130 | €25,781 | €25,781 | = | 0.0% |
| Distributable reserves | 133 | €69,880 | €61,158 | -€8,721 | -12.5% |
| Amounts payable | 17/49 | €80,365 | €67,917 | -€12,448 | -15.5% |
| Amounts payable within one year | 42/48 | €80,365 | €67,917 | -€12,448 | -15.5% |
| Taxes, remuneration and social security | 45 | €7,343 | - | -€7,343 | |
| Taxes | 450/3 | €7,343 | - | -€7,343 | |
| Other amounts payable | 47/48 | €73,022 | €67,917 | -€5,106 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,121 | €4,121 | = | 0.0% |
| Other operating charges | 640/8 | €3,364 | €3,069 | -€295 | -8.8% |
| Non-recurring operating charges | 66A | - | €2,217 | +€2,217 | |
| Gross operating margin | 9900 | -€5,828 | -€2,067 | +€3,760 | +64.5% |
| Operating profit (loss) | 9901 | -€13,312 | -€11,474 | +€1,838 | +13.8% |
| Financial income | 75/76B | €4,029 | €4,052 | +€23 | +0.6% |
| Recurring financial income | 75 | €4,029 | €4,052 | +€23 | +0.6% |
| Financial charges | 65/66B | €1,010 | €1,299 | +€289 | +28.6% |
| Recurring financial charges | 65 | €1,010 | €1,299 | +€289 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,293 | -€8,721 | +€1,572 | +15.3% |
| Profit (loss) for the period | 9904 | -€10,293 | -€8,721 | +€1,572 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,293 | -€8,721 | +€1,572 | +15.3% |
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 21 October 2026 via checked.be.