EPITAS: 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.
EPITAS
Largest movements
- Receivables within one year +€66,742
up €66,742 (+180384.5%), from €37 to €66,779
of which Trade receivables: +€49,668
- Cash -€4,633
down €4,633 (-27.3%), from €16,982 to €12,349
mainly Receivables within one year (-€66,742) and Investment in fixed assets (net) (-€4,334)
- Tangible fixed assets +€4,158
new in 2025: €4,158
- Stocks and contracts +€3,205
up €3,205 (+24.2%), from €13,217 to €16,422
- Trade debts +€32,084
up €32,084 (+597.2%), from €5,373 to €37,457
- Profit (loss) carried forward +€23,868
up €23,868 (+379.1%), from €6,296 to €30,164
- Other debts +€6,782
up €6,782 (+47.2%), from €14,374 to €21,155
- Tax, wage and social debts +€5,602
up €5,602 (+275.2%), from €2,035 to €7,637
- Current portion of long-term debt +€3,146
new in 2025: €3,146
- Gross operating margin +€24,532
up €24,532 (+369.2%), from €6,645 to €31,178
- Taxes +€4,468
up €4,468 (+289.3%), from €1,545 to €6,013
- Staff costs -€560
no longer reported in 2025 (was €560)
- Financial charges +€529
up €529 (+492.0%), from €108 to €637
- Depreciation +€428
new in 2025: €428
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 | €31,223 | €100,444 | +€69,220 | +221.7% |
| Fixed assets | 21/28 | €987 | €4,893 | +€3,906 | +395.7% |
| Intangible fixed assets | 21 | €987 | €735 | -€252 | -25.5% |
| Tangible fixed assets | 22/27 | - | €4,158 | +€4,158 | |
| Plant, machinery and equipment | 23 | - | €4,158 | +€4,158 | |
| Current assets | 29/58 | €30,236 | €95,551 | +€65,314 | +216.0% |
| Stocks and contracts in progress | 3 | €13,217 | €16,422 | +€3,205 | +24.2% |
| Stocks | 30/36 | €13,217 | €16,422 | +€3,205 | +24.2% |
| Amounts receivable within one year | 40/41 | €37 | €66,779 | +€66,742 | +180384.5% |
| Trade receivables | 40 | - | €49,668 | +€49,668 | |
| Other amounts receivable | 41 | €37 | €17,111 | +€17,074 | +46147.3% |
| Cash at bank and in hand | 54/58 | €16,982 | €12,349 | -€4,633 | -27.3% |
| Total equity and liabilities | 10/49 | €31,223 | €100,444 | +€69,220 | +221.7% |
| Equity | 10/15 | €6,296 | €30,164 | +€23,868 | +379.1% |
| Profit (loss) carried forward | 14 | €6,296 | €30,164 | +€23,868 | +379.1% |
| Amounts payable | 17/49 | €24,928 | €70,280 | +€45,352 | +181.9% |
| Amounts payable within one year | 42/48 | €24,928 | €69,395 | +€44,468 | +178.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,146 | +€3,146 | |
| Financial debts | 43 | €3,146 | - | -€3,146 | |
| Other loans | 439 | €3,146 | - | -€3,146 | |
| Trade debts | 44 | €5,373 | €37,457 | +€32,084 | +597.2% |
| Suppliers | 440/4 | €5,373 | €37,457 | +€32,084 | +597.2% |
| Taxes, remuneration and social security | 45 | €2,035 | €7,637 | +€5,602 | +275.2% |
| Taxes | 450/3 | €2,035 | €7,637 | +€5,602 | +275.2% |
| Other amounts payable | 47/48 | €14,374 | €21,155 | +€6,782 | +47.2% |
| Accrued charges and deferred income | 492/3 | - | €884 | +€884 | |
| Remuneration, social security and pensions | 62 | €560 | - | -€560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €428 | +€428 | |
| Other operating charges | 640/8 | - | €231 | +€231 | |
| Gross operating margin | 9900 | €6,645 | €31,178 | +€24,532 | +369.2% |
| Operating profit (loss) | 9901 | €6,085 | €30,518 | +€24,433 | +401.5% |
| Financial charges | 65/66B | €108 | €637 | +€529 | +492.0% |
| Recurring financial charges | 65 | €108 | €637 | +€529 | +492.0% |
| Profit (loss) for the period before taxes | 9903 | €5,978 | €29,881 | +€23,903 | +399.9% |
| Income taxes | 67/77 | €1,545 | €6,013 | +€4,468 | +289.3% |
| Profit (loss) for the period | 9904 | €4,433 | €23,868 | +€19,435 | +438.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,433 | €23,868 | +€19,435 | +438.4% |
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 9 October 2026 via checked.be.