EPISTATES: 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.
EPISTATES
Largest movements
- Tangible fixed assets +€138,727
up €138,727 (+14.4%), from €962,666 to €1.1m
of which Land and buildings: +€143,321
- Cash +€35,133
up €35,133 (+50.1%), from €70,182 to €105,315
mainly Debts after one year (+€105,415) and Depreciation (+€84,327)
- Debts after one year +€105,415
up €105,415 (+14.2%), from €743,711 to €849,126
- Other debts +€39,990
up €39,990 (+21.5%), from €185,776 to €225,766
- Current portion of long-term debt +€20,481
up €20,481 (+29.7%), from €68,938 to €89,419
- Gross operating margin +€33,638
up €33,638 (+22.1%), from €152,499 to €186,136
- Depreciation +€15,341
up €15,341 (+22.2%), from €68,987 to €84,327
- Other operating charges +€9,045
up €9,045 (+92.9%), from €9,733 to €18,778
- Financial charges +€2,445
up €2,445 (+11.8%), from €20,777 to €23,222
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 | €1,039,083 | €1,217,108 | +€178,025 | +17.1% |
| Fixed assets | 21/28 | €962,666 | €1,101,392 | +€138,727 | +14.4% |
| Tangible fixed assets | 22/27 | €962,666 | €1,101,392 | +€138,727 | +14.4% |
| Land and buildings | 22 | €950,719 | €1,094,040 | +€143,321 | +15.1% |
| Furniture and vehicles | 24 | €11,947 | €7,353 | -€4,595 | -38.5% |
| Current assets | 29/58 | €76,417 | €115,716 | +€39,298 | +51.4% |
| Amounts receivable within one year | 40/41 | €284 | €968 | +€684 | +241.2% |
| Trade receivables | 40 | €232 | €0 | -€232 | -100.0% |
| Other amounts receivable | 41 | €51 | €968 | +€916 | +1785.8% |
| Cash at bank and in hand | 54/58 | €70,182 | €105,315 | +€35,133 | +50.1% |
| Deferred charges and accrued income | 490/1 | €5,952 | €9,433 | +€3,481 | +58.5% |
| Total equity and liabilities | 10/49 | €1,039,083 | €1,217,108 | +€178,025 | +17.1% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,020,483 | €1,198,508 | +€178,025 | +17.4% |
| Amounts payable after more than one year | 17 | €743,711 | €849,126 | +€105,415 | +14.2% |
| Financial debts | 170/4 | €743,711 | €849,126 | +€105,415 | +14.2% |
| Amounts payable within one year | 42/48 | €273,792 | €344,456 | +€70,664 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €68,938 | €89,419 | +€20,481 | +29.7% |
| Trade debts | 44 | €4,933 | €12,118 | +€7,185 | +145.6% |
| Suppliers | 440/4 | €4,933 | €12,118 | +€7,185 | +145.6% |
| Taxes, remuneration and social security | 45 | €14,145 | €17,153 | +€3,008 | +21.3% |
| Taxes | 450/3 | €14,145 | €17,153 | +€3,008 | +21.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €185,776 | €225,766 | +€39,990 | +21.5% |
| Accrued charges and deferred income | 492/3 | €2,981 | €4,926 | +€1,945 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,987 | €84,327 | +€15,341 | +22.2% |
| Other operating charges | 640/8 | €9,733 | €18,778 | +€9,045 | +92.9% |
| Gross operating margin | 9900 | €152,499 | €186,136 | +€33,638 | +22.1% |
| Operating profit (loss) | 9901 | €73,779 | €83,031 | +€9,252 | +12.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €20,777 | €23,222 | +€2,445 | +11.8% |
| Recurring financial charges | 65 | €20,777 | €23,222 | +€2,445 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €53,002 | €59,809 | +€6,807 | +12.8% |
| Income taxes | 67/77 | €14,431 | €13,032 | -€1,399 | -9.7% |
| Profit (loss) for the period | 9904 | €38,571 | €46,777 | +€8,206 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,571 | €46,777 | +€8,206 | +21.3% |
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 4 October 2026 via checked.be.