EPL PROJECTS: 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.
EPL PROJECTS
Largest movements
- Receivables within one year +€164,059
up €164,059 (+192%), from €85,599 to €249,658
of which Trade receivables: +€188,190
- Receivables after one year -€52,000
down €52,000 (-16.8%), from €310,000 to €258,000
- Debts after one year -€96,807
down €96,807 (-35.0%), from €276,793 to €179,986
- Profit (loss) carried forward +€67,507
up €67,507 (+50.8%), from -€132,925 to -€65,418
- Trade debts +€55,921
up €55,921 (+146%), from €38,313 to €94,234
- Tax, wage and social debts +€42,103
up €42,103 (+61.3%), from €68,719 to €110,821
of which Taxes: +€44,610
- Other debts +€38,212
up €38,212 (+11.7%), from €326,395 to €364,607
- Gross operating margin +€61,380
up €61,380 (+90.4%), from €67,864 to €129,244
- Financial income +€38,019
up €38,019 (+190,095,600%), from €0 to €38,019
of which Non-recurring financial income: +€33,647
- Write-downs +€35,694
new in 2025: €35,694
- Taxes +€31,357
up €31,357 (+166%), from €18,914 to €50,271
- Staff costs -€5,782
down €5,782 (-98.0%), from €5,897 to €116
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.
Derived cash bridge
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 | €1,091,041 | €1,198,686 | +€107,644 | +9.9% |
| Fixed assets | 21/28 | €693,659 | €690,301 | -€3,359 | -0.5% |
| Tangible fixed assets | 22/27 | €6,909 | €3,551 | -€3,359 | -48.6% |
| Plant, machinery and equipment | 23 | €2,904 | €1,448 | -€1,456 | -50.1% |
| Furniture and vehicles | 24 | €3,651 | €2,072 | -€1,579 | -43.3% |
| Other tangible fixed assets | 26 | €354 | €31 | -€323 | -91.2% |
| Financial fixed assets | 28 | €686,750 | €686,750 | = | 0.0% |
| Current assets | 29/58 | €397,382 | €508,385 | +€111,003 | +27.9% |
| Amounts receivable after more than one year | 29 | €310,000 | €258,000 | -€52,000 | -16.8% |
| Other amounts receivable | 291 | €310,000 | €258,000 | -€52,000 | -16.8% |
| Amounts receivable within one year | 40/41 | €85,599 | €249,658 | +€164,059 | +192% |
| Trade receivables | 40 | €40,719 | €228,909 | +€188,190 | +462% |
| Other amounts receivable | 41 | €44,880 | €20,749 | -€24,131 | -53.8% |
| Cash at bank and in hand | 54/58 | €916 | €727 | -€189 | -20.6% |
| Deferred charges and accrued income | 490/1 | €868 | - | -€868 | |
| Total equity and liabilities | 10/49 | €1,091,041 | €1,198,686 | +€107,644 | +9.9% |
| Equity | 10/15 | €276,698 | €344,206 | +€67,507 | +24.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €403,424 | €403,424 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €401,564 | €401,564 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,925 | -€65,418 | +€67,507 | +50.8% |
| Amounts payable | 17/49 | €814,343 | €854,480 | +€40,137 | +4.9% |
| Amounts payable after more than one year | 17 | €276,793 | €179,986 | -€96,807 | -35.0% |
| Financial debts | 170/4 | €276,793 | €179,986 | -€96,807 | -35.0% |
| Amounts payable within one year | 42/48 | €529,280 | €674,494 | +€145,214 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €95,854 | €104,831 | +€8,977 | +9.4% |
| Trade debts | 44 | €38,313 | €94,234 | +€55,921 | +146% |
| Suppliers | 440/4 | €38,313 | €94,234 | +€55,921 | +146% |
| Taxes, remuneration and social security | 45 | €68,719 | €110,821 | +€42,103 | +61.3% |
| Taxes | 450/3 | €66,211 | €110,821 | +€44,610 | +67.4% |
| Remuneration and social security | 454/9 | €2,507 | - | -€2,507 | |
| Other amounts payable | 47/48 | €326,395 | €364,607 | +€38,212 | +11.7% |
| Accrued charges and deferred income | 492/3 | €8,270 | - | -€8,270 | |
| Remuneration, social security and pensions | 62 | €5,897 | €116 | -€5,782 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,170 | €3,779 | -€390 | -9.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,694 | +€35,694 | |
| Other operating charges | 640/8 | €563 | €4,754 | +€4,190 | +744% |
| Gross operating margin | 9900 | €67,864 | €129,244 | +€61,380 | +90.4% |
| Operating profit (loss) | 9901 | €57,233 | €84,902 | +€27,668 | +48.3% |
| Financial income | 75/76B | €0 | €38,019 | +€38,019 | +190,095,600% |
| Recurring financial income | 75 | €0 | €4,373 | +€4,373 | +21,862,750% |
| Non-recurring financial income | 76B | - | €33,647 | +€33,647 | |
| Financial charges | 65/66B | €6,356 | €5,143 | -€1,214 | -19.1% |
| Recurring financial charges | 65 | €6,356 | €5,143 | -€1,214 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €50,877 | €117,778 | +€66,901 | +131% |
| Income taxes | 67/77 | €18,914 | €50,271 | +€31,357 | +166% |
| Profit (loss) for the period | 9904 | €31,963 | €67,507 | +€35,544 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €31,963 | €67,507 | +€35,544 | +111% |
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 29 October 2026 via checked.be.