EPS-PROTECTION: 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.
EPS-PROTECTION
Largest movements
- Cash +€37,813
up €37,813 (+14.1%), from €267,417 to €305,230
mainly Net result for the year (+€55,620) and Depreciation (+€19,558)
- Tangible fixed assets +€14,895
up €14,895 (+28.1%), from €53,035 to €67,930
of which Furniture and vehicles: +€19,995
- Reserves +€55,620
up €55,620 (+17.4%), from €320,289 to €375,909
- Tax, wage and social debts +€4,797
up €4,797 (+30.4%), from €15,753 to €20,550
- Gross operating margin +€11,925
up €11,925 (+14.0%), from €85,244 to €97,170
- Depreciation +€5,036
up €5,036 (+34.7%), from €14,522 to €19,558
- Financial income +€3,696
up €3,696 (+483%), from €766 to €4,462
- Taxes +€2,265
up €2,265 (+11.4%), from €19,951 to €22,216
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 | €392,879 | €450,448 | +€57,568 | +14.7% |
| Fixed assets | 21/28 | €53,035 | €67,930 | +€14,895 | +28.1% |
| Tangible fixed assets | 22/27 | €53,035 | €67,930 | +€14,895 | +28.1% |
| Land and buildings | 22 | €28,500 | €23,750 | -€4,750 | -16.7% |
| Plant, machinery and equipment | 23 | €548 | €198 | -€350 | -63.9% |
| Furniture and vehicles | 24 | €23,987 | €43,983 | +€19,995 | +83.4% |
| Current assets | 29/58 | €339,845 | €382,517 | +€42,673 | +12.6% |
| Stocks and contracts in progress | 3 | €7,189 | €7,152 | -€36 | -0.5% |
| Stocks | 30/36 | €7,189 | €7,152 | -€36 | -0.5% |
| Amounts receivable within one year | 40/41 | €13,347 | €15,286 | +€1,939 | +14.5% |
| Trade receivables | 40 | €13,347 | €13,396 | +€49 | +0.4% |
| Other amounts receivable | 41 | - | €1,890 | +€1,890 | |
| Current investments | 50/53 | €50,000 | €51,861 | +€1,861 | +3.7% |
| Cash at bank and in hand | 54/58 | €267,417 | €305,230 | +€37,813 | +14.1% |
| Deferred charges and accrued income | 490/1 | €1,892 | €2,989 | +€1,097 | +58.0% |
| Total equity and liabilities | 10/49 | €392,879 | €450,448 | +€57,568 | +14.7% |
| Equity | 10/15 | €340,836 | €396,456 | +€55,620 | +16.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €320,289 | €375,909 | +€55,620 | +17.4% |
| Distributable reserves | 133 | €320,289 | €375,909 | +€55,620 | +17.4% |
| Profit (loss) carried forward | 14 | €547 | €547 | = | 0.0% |
| Amounts payable | 17/49 | €52,043 | €53,991 | +€1,948 | +3.7% |
| Amounts payable within one year | 42/48 | €52,043 | €53,991 | +€1,948 | +3.7% |
| Trade debts | 44 | €1,821 | €258 | -€1,563 | -85.8% |
| Suppliers | 440/4 | €1,821 | €258 | -€1,563 | -85.8% |
| Taxes, remuneration and social security | 45 | €15,753 | €20,550 | +€4,797 | +30.4% |
| Taxes | 450/3 | €15,753 | €20,550 | +€4,797 | +30.4% |
| Other amounts payable | 47/48 | €34,468 | €33,183 | -€1,285 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,522 | €19,558 | +€5,036 | +34.7% |
| Other operating charges | 640/8 | €2,004 | €1,515 | -€490 | -24.4% |
| Non-recurring operating charges | 66A | - | €58 | +€58 | |
| Gross operating margin | 9900 | €85,244 | €97,170 | +€11,925 | +14.0% |
| Operating profit (loss) | 9901 | €68,718 | €76,039 | +€7,321 | +10.7% |
| Financial income | 75/76B | €766 | €4,462 | +€3,696 | +483% |
| Recurring financial income | 75 | €766 | €4,462 | +€3,696 | +483% |
| Financial charges | 65/66B | €2,650 | €2,665 | +€15 | +0.6% |
| Recurring financial charges | 65 | €2,650 | €2,665 | +€15 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €66,834 | €77,836 | +€11,003 | +16.5% |
| Income taxes | 67/77 | €19,951 | €22,216 | +€2,265 | +11.4% |
| Profit (loss) for the period | 9904 | €46,882 | €55,620 | +€8,738 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,882 | €55,620 | +€8,738 | +18.6% |
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 21 October 2026 via checked.be.