EPONA: 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.
EPONA
Largest movements
- Tangible fixed assets +€43,732
up €43,732 (+23.1%), from €189,052 to €232,784
of which Furniture and vehicles: +€52,144
- Receivables within one year +€13,329
up €13,329 (+523.8%), from €2,544 to €15,874
of which Other amounts receivable: +€8,526
- Cash -€4,899
down €4,899 (-31.6%), from €15,493 to €10,594
mainly Investment in fixed assets (net) (-€66,810) and Receivables within one year (-€13,329)
- Stocks and contracts +€4,164
up €4,164 (+32.9%), from €12,644 to €16,807
- Other debts +€50,074
up €50,074 (+200.3%), from €25,002 to €75,076
- Debts after one year +€12,500
up €12,500 (+7.8%), from €160,000 to €172,500
- Profit (loss) carried forward -€6,944
down €6,944 (-161.1%), from -€4,309 to -€11,253
- Tax, wage and social debts -€3,910
down €3,910 (-56.2%), from €6,957 to €3,047
of which Taxes: -€4,135
- Current portion of long-term debt +€3,000
up €3,000 (+17.1%), from €17,500 to €20,500
- Gross operating margin -€15,716
down €15,716 (-47.2%), from €33,298 to €17,582
- Depreciation -€7,396
down €7,396 (-24.3%), from €30,492 to €23,096
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 | €223,683 | €279,366 | +€55,683 | +24.9% |
| Fixed assets | 21/28 | €189,133 | €232,847 | +€43,714 | +23.1% |
| Tangible fixed assets | 22/27 | €189,052 | €232,784 | +€43,732 | +23.1% |
| Land and buildings | 22 | €183,062 | €170,064 | -€12,998 | -7.1% |
| Plant, machinery and equipment | 23 | - | €4,586 | +€4,586 | |
| Furniture and vehicles | 24 | €5,990 | €58,134 | +€52,144 | +870.5% |
| Financial fixed assets | 28 | €81 | €63 | -€18 | -22.2% |
| Current assets | 29/58 | €34,550 | €46,519 | +€11,969 | +34.6% |
| Stocks and contracts in progress | 3 | €12,644 | €16,807 | +€4,164 | +32.9% |
| Stocks | 30/36 | €12,644 | €16,807 | +€4,164 | +32.9% |
| Amounts receivable within one year | 40/41 | €2,544 | €15,874 | +€13,329 | +523.8% |
| Trade receivables | 40 | €2,540 | €7,343 | +€4,803 | +189.1% |
| Other amounts receivable | 41 | €4 | €8,531 | +€8,526 | +191606.3% |
| Cash at bank and in hand | 54/58 | €15,493 | €10,594 | -€4,899 | -31.6% |
| Deferred charges and accrued income | 490/1 | €3,869 | €3,245 | -€625 | -16.1% |
| Total equity and liabilities | 10/49 | €223,683 | €279,366 | +€55,683 | +24.9% |
| Equity | 10/15 | €4,224 | -€3,188 | -€7,412 | |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €2,328 | €1,860 | -€468 | -20.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €468 | - | -€468 | |
| Profit (loss) carried forward | 14 | -€4,309 | -€11,253 | -€6,944 | -161.1% |
| Provisions and deferred taxes | 16 | €117 | - | -€117 | |
| Deferred taxes | 168 | €117 | - | -€117 | |
| Amounts payable | 17/49 | €219,342 | €282,554 | +€63,212 | +28.8% |
| Amounts payable after more than one year | 17 | €160,000 | €172,500 | +€12,500 | +7.8% |
| Financial debts | 170/4 | €160,000 | €172,500 | +€12,500 | +7.8% |
| Amounts payable within one year | 42/48 | €58,432 | €110,037 | +€51,606 | +88.3% |
| Current portion of amounts payable after more than one year | 42 | €17,500 | €20,500 | +€3,000 | +17.1% |
| Trade debts | 44 | €8,973 | €11,414 | +€2,441 | +27.2% |
| Suppliers | 440/4 | €8,973 | €11,414 | +€2,441 | +27.2% |
| Taxes, remuneration and social security | 45 | €6,957 | €3,047 | -€3,910 | -56.2% |
| Taxes | 450/3 | €4,627 | €492 | -€4,135 | -89.4% |
| Remuneration and social security | 454/9 | €2,330 | €2,555 | +€225 | +9.7% |
| Other amounts payable | 47/48 | €25,002 | €75,076 | +€50,074 | +200.3% |
| Accrued charges and deferred income | 492/3 | €910 | €17 | -€894 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,492 | €23,096 | -€7,396 | -24.3% |
| Other operating charges | 640/8 | €859 | €858 | -€2 | -0.2% |
| Gross operating margin | 9900 | €33,298 | €17,582 | -€15,716 | -47.2% |
| Operating profit (loss) | 9901 | €1,947 | -€6,372 | -€8,319 | |
| Financial income | 75/76B | €108 | €30 | -€79 | -72.7% |
| Recurring financial income | 75 | €108 | €30 | -€79 | -72.7% |
| Financial charges | 65/66B | €1,408 | €1,186 | -€221 | -15.7% |
| Recurring financial charges | 65 | €1,408 | €1,186 | -€221 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €647 | -€7,529 | -€8,176 | |
| Transfer from deferred taxes | 780 | €439 | €117 | -€322 | -73.3% |
| Profit (loss) for the period | 9904 | €1,086 | -€7,412 | -€8,498 | |
| Transfer from tax-exempt reserves | 789 | €1,755 | €468 | -€1,287 | -73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,841 | -€6,944 | -€9,785 |
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.