EPIMO: 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.
EPIMO
Largest movements
- Cash -€325,890
down €325,890 (-52.1%), from €625,244 to €299,354
mainly Receivables within one year (-€257,070) and Contributions, distributions and other (-€129,100)
- Receivables within one year +€257,070
up €257,070 (+51.1%), from €502,927 to €759,998
of which Other amounts receivable: +€237,983
- Tangible fixed assets -€168,073
down €168,073 (-23.4%), from €717,460 to €549,387
of which Plant, machinery and equipment: -€90,906
- Stocks and contracts +€35,433
up €35,433 (+10.9%), from €324,232 to €359,665
- Reserves -€154,208
down €154,208 (-18.1%), from €853,194 to €698,987
of which Distributable reserves: -€110,692
- Debts after one year -€111,948
down €111,948 (-34.7%), from €322,515 to €210,567
- Other debts +€58,603
up €58,603 (+43.4%), from €135,000 to €193,603
- Short-term financial debts +€56,278
up €56,278 (+48.0%), from €117,285 to €173,563
- Trade debts -€27,838
down €27,838 (-4.4%), from €636,139 to €608,301
- Staff costs +€57,888
up €57,888 (+10.8%), from €537,929 to €595,818
- Gross operating margin +€50,279
up €50,279 (+7.0%), from €716,134 to €766,413
- Financial income +€22,393
up €22,393 (+88.2%), from €25,389 to €47,782
- Depreciation +€18,000
up €18,000 (+10.9%), from €164,956 to €182,956
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 | €2,400,004 | €2,216,780 | -€183,224 | -7.6% |
| Fixed assets | 21/28 | €719,307 | €551,234 | -€168,073 | -23.4% |
| Tangible fixed assets | 22/27 | €717,460 | €549,387 | -€168,073 | -23.4% |
| Plant, machinery and equipment | 23 | €226,496 | €135,590 | -€90,906 | -40.1% |
| Furniture and vehicles | 24 | €4,124 | €3,005 | -€1,119 | -27.1% |
| Other tangible fixed assets | 26 | €486,840 | €410,792 | -€76,048 | -15.6% |
| Financial fixed assets | 28 | €1,847 | €1,847 | = | 0.0% |
| Current assets | 29/58 | €1,680,698 | €1,665,546 | -€15,151 | -0.9% |
| Stocks and contracts in progress | 3 | €324,232 | €359,665 | +€35,433 | +10.9% |
| Stocks | 30/36 | €324,232 | €359,665 | +€35,433 | +10.9% |
| Amounts receivable within one year | 40/41 | €502,927 | €759,998 | +€257,070 | +51.1% |
| Trade receivables | 40 | €89,608 | €108,696 | +€19,087 | +21.3% |
| Other amounts receivable | 41 | €413,319 | €651,302 | +€237,983 | +57.6% |
| Current investments | 50/53 | €207,993 | €207,993 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €625,244 | €299,354 | -€325,890 | -52.1% |
| Deferred charges and accrued income | 490/1 | €20,301 | €38,537 | +€18,235 | +89.8% |
| Total equity and liabilities | 10/49 | €2,400,004 | €2,216,780 | -€183,224 | -7.6% |
| Equity | 10/15 | €921,394 | €767,187 | -€154,208 | -16.7% |
| Contributions | 10/11 | €68,200 | €68,200 | = | 0.0% |
| Reserves | 13 | €853,194 | €698,987 | -€154,208 | -18.1% |
| Tax-exempt reserves | 132 | €109,788 | €66,272 | -€43,516 | -39.6% |
| Distributable reserves | 133 | €743,406 | €632,714 | -€110,692 | -14.9% |
| Provisions and deferred taxes | 16 | €28,137 | €16,984 | -€11,152 | -39.6% |
| Deferred taxes | 168 | €28,137 | €16,984 | -€11,152 | -39.6% |
| Amounts payable | 17/49 | €1,450,473 | €1,432,609 | -€17,864 | -1.2% |
| Amounts payable after more than one year | 17 | €322,515 | €210,567 | -€111,948 | -34.7% |
| Financial debts | 170/4 | €322,515 | €210,567 | -€111,948 | -34.7% |
| Amounts payable within one year | 42/48 | €1,122,669 | €1,200,998 | +€78,329 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €129,333 | €111,948 | -€17,386 | -13.4% |
| Financial debts | 43 | €117,285 | €173,563 | +€56,278 | +48.0% |
| Credit institutions | 430/8 | €117,285 | €173,563 | +€56,278 | +48.0% |
| Trade debts | 44 | €636,139 | €608,301 | -€27,838 | -4.4% |
| Suppliers | 440/4 | €636,139 | €608,301 | -€27,838 | -4.4% |
| Taxes, remuneration and social security | 45 | €104,912 | €113,583 | +€8,671 | +8.3% |
| Taxes | 450/3 | €9,409 | €5,246 | -€4,163 | -44.2% |
| Remuneration and social security | 454/9 | €95,503 | €108,337 | +€12,834 | +13.4% |
| Other amounts payable | 47/48 | €135,000 | €193,603 | +€58,603 | +43.4% |
| Accrued charges and deferred income | 492/3 | €5,289 | €21,044 | +€15,755 | +297.9% |
| Remuneration, social security and pensions | 62 | €537,929 | €595,818 | +€57,888 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,956 | €182,956 | +€18,000 | +10.9% |
| Other operating charges | 640/8 | €23,222 | €19,390 | -€3,831 | -16.5% |
| Non-recurring operating charges | 66A | - | €380 | +€380 | |
| Gross operating margin | 9900 | €716,134 | €766,413 | +€50,279 | +7.0% |
| Operating profit (loss) | 9901 | -€9,973 | -€32,130 | -€22,157 | -222.2% |
| Financial income | 75/76B | €25,389 | €47,782 | +€22,393 | +88.2% |
| Recurring financial income | 75 | €25,389 | €47,782 | +€22,393 | +88.2% |
| Financial charges | 65/66B | €37,940 | €42,841 | +€4,901 | +12.9% |
| Recurring financial charges | 65 | €37,940 | €42,841 | +€4,901 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,524 | -€27,189 | -€4,665 | -20.7% |
| Transfer from deferred taxes | 780 | €11,200 | €11,152 | -€48 | -0.4% |
| Income taxes | 67/77 | €6,629 | €9,071 | +€2,441 | +36.8% |
| Profit (loss) for the period | 9904 | -€17,953 | -€25,108 | -€7,154 | -39.8% |
| Transfer from tax-exempt reserves | 789 | €43,702 | €43,516 | -€186 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,749 | €18,408 | -€7,341 | -28.5% |
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 11 October 2026 via checked.be.