Epitech Research: 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.
Epitech Research
Largest movements
- Cash +€28,187
up €28,187 (+42.4%), from €66,465 to €94,651
mainly Net result for the year (+€42,836) and Tax, wage and social debts (+€5,074)
- Receivables within one year +€22,241
up €22,241 (+241.7%), from €9,202 to €31,442
of which Trade receivables: +€22,850
- Profit (loss) carried forward +€42,836
up €42,836 (+61.1%), from €70,063 to €112,899
- Tax, wage and social debts +€5,074
up €5,074 (+268.3%), from €1,891 to €6,965
- Trade debts +€3,410
up €3,410 (+50.2%), from €6,800 to €10,210
- Gross operating margin +€15,359
up €15,359 (+34.7%), from €44,299 to €59,658
- Taxes +€3,800
up €3,800 (+33.7%), from €11,274 to €15,074
- Financial charges -€602
down €602 (-78.1%), from €771 to €169
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 | €82,373 | €132,574 | +€50,201 | +60.9% |
| Fixed assets | 21/28 | €6,310 | €4,959 | -€1,351 | -21.4% |
| Intangible fixed assets | 21 | €1,128 | €852 | -€276 | -24.5% |
| Tangible fixed assets | 22/27 | €5,182 | €4,107 | -€1,075 | -20.7% |
| Furniture and vehicles | 24 | €5,182 | €4,107 | -€1,075 | -20.7% |
| Current assets | 29/58 | €76,063 | €127,615 | +€51,552 | +67.8% |
| Amounts receivable within one year | 40/41 | €9,202 | €31,442 | +€22,241 | +241.7% |
| Trade receivables | 40 | - | €22,850 | +€22,850 | |
| Other amounts receivable | 41 | €9,202 | €8,592 | -€609 | -6.6% |
| Cash at bank and in hand | 54/58 | €66,465 | €94,651 | +€28,187 | +42.4% |
| Deferred charges and accrued income | 490/1 | €397 | €1,521 | +€1,124 | +283.1% |
| Total equity and liabilities | 10/49 | €82,373 | €132,574 | +€50,201 | +60.9% |
| Equity | 10/15 | €72,563 | €115,399 | +€42,836 | +59.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,063 | €112,899 | +€42,836 | +61.1% |
| Amounts payable | 17/49 | €9,810 | €17,175 | +€7,365 | +75.1% |
| Amounts payable within one year | 42/48 | €9,810 | €17,175 | +€7,365 | +75.1% |
| Trade debts | 44 | €6,800 | €10,210 | +€3,410 | +50.2% |
| Suppliers | 440/4 | €6,800 | €10,210 | +€3,410 | +50.2% |
| Taxes, remuneration and social security | 45 | €1,891 | €6,965 | +€5,074 | +268.3% |
| Taxes | 450/3 | €1,891 | €6,965 | +€5,074 | +268.3% |
| Other amounts payable | 47/48 | €1,119 | - | -€1,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,316 | €1,656 | +€341 | +25.9% |
| Gross operating margin | 9900 | €44,299 | €59,658 | +€15,359 | +34.7% |
| Operating profit (loss) | 9901 | €42,984 | €58,001 | +€15,018 | +34.9% |
| Financial income | 75/76B | €4 | €77 | +€73 | +1812.7% |
| Recurring financial income | 75 | €4 | €77 | +€73 | +1812.7% |
| Financial charges | 65/66B | €771 | €169 | -€602 | -78.1% |
| Recurring financial charges | 65 | €771 | €169 | -€602 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | €42,217 | €57,910 | +€15,693 | +37.2% |
| Income taxes | 67/77 | €11,274 | €15,074 | +€3,800 | +33.7% |
| Profit (loss) for the period | 9904 | €30,943 | €42,836 | +€11,893 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,943 | €42,836 | +€11,893 | +38.4% |
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 6 October 2026 via checked.be.