EPITHETE: 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.
EPITHETE
Largest movements
- Current investments +€12,247
up €12,247 (+59.7%), from €20,514 to €32,761
- Cash -€12,122
down €12,122 (-14.4%), from €84,332 to €72,210
mainly Current investments (-€12,247) and Debts after one year (-€12,000)
- Tangible fixed assets -€11,069
down €11,069 (-45.3%), from €24,420 to €13,351
of which Furniture and vehicles: -€10,334
- Receivables within one year +€6,660
up €6,660 (+39.9%), from €16,702 to €23,362
of which Other amounts receivable: +€6,660
- Reserves +€15,487
up €15,487 (+16.4%), from €94,291 to €109,777
- Debts after one year -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts -€8,719
down €8,719 (-35.2%), from €24,764 to €16,046
of which Taxes: -€8,719
- Gross operating margin -€19,234
down €19,234 (-38.9%), from €49,390 to €30,156
- Taxes -€4,082
down €4,082 (-49.0%), from €8,326 to €4,244
- Financial income +€1,291
up €1,291 (+236.6%), from €546 to €1,836
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 | €146,475 | €142,351 | -€4,124 | -2.8% |
| Fixed assets | 21/28 | €24,420 | €13,351 | -€11,069 | -45.3% |
| Tangible fixed assets | 22/27 | €24,420 | €13,351 | -€11,069 | -45.3% |
| Plant, machinery and equipment | 23 | €1,748 | €1,013 | -€735 | -42.0% |
| Furniture and vehicles | 24 | €22,672 | €12,338 | -€10,334 | -45.6% |
| Current assets | 29/58 | €122,055 | €129,001 | +€6,945 | +5.7% |
| Amounts receivable within one year | 40/41 | €16,702 | €23,362 | +€6,660 | +39.9% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €4,602 | €11,262 | +€6,660 | +144.7% |
| Current investments | 50/53 | €20,514 | €32,761 | +€12,247 | +59.7% |
| Cash at bank and in hand | 54/58 | €84,332 | €72,210 | -€12,122 | -14.4% |
| Deferred charges and accrued income | 490/1 | €508 | €668 | +€161 | +31.7% |
| Total equity and liabilities | 10/49 | €146,475 | €142,351 | -€4,124 | -2.8% |
| Equity | 10/15 | €98,291 | €113,777 | +€15,487 | +15.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €94,291 | €109,777 | +€15,487 | +16.4% |
| Distributable reserves | 133 | €94,291 | €109,777 | +€15,487 | +16.4% |
| Amounts payable | 17/49 | €48,184 | €28,574 | -€19,610 | -40.7% |
| Amounts payable after more than one year | 17 | €12,000 | - | -€12,000 | |
| Financial debts | 170/4 | €12,000 | - | -€12,000 | |
| Amounts payable within one year | 42/48 | €36,184 | €28,574 | -€7,610 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €10,606 | €11,410 | +€805 | +7.6% |
| Trade debts | 44 | €815 | €1,118 | +€303 | +37.3% |
| Suppliers | 440/4 | €815 | €1,118 | +€303 | +37.3% |
| Taxes, remuneration and social security | 45 | €24,764 | €16,046 | -€8,719 | -35.2% |
| Taxes | 450/3 | €22,114 | €13,396 | -€8,719 | -39.4% |
| Remuneration and social security | 454/9 | €2,650 | €2,650 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,774 | €11,069 | +€295 | +2.7% |
| Other operating charges | 640/8 | - | €233 | +€233 | |
| Gross operating margin | 9900 | €49,390 | €30,156 | -€19,234 | -38.9% |
| Operating profit (loss) | 9901 | €38,616 | €18,855 | -€19,761 | -51.2% |
| Financial income | 75/76B | €546 | €1,836 | +€1,291 | +236.6% |
| Recurring financial income | 75 | €546 | €1,836 | +€1,291 | +236.6% |
| Financial charges | 65/66B | €945 | €960 | +€15 | +1.5% |
| Recurring financial charges | 65 | €945 | €960 | +€15 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €38,216 | €19,731 | -€18,485 | -48.4% |
| Income taxes | 67/77 | €8,326 | €4,244 | -€4,082 | -49.0% |
| Profit (loss) for the period | 9904 | €29,890 | €15,487 | -€14,404 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,890 | €15,487 | -€14,404 | -48.2% |
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.