EPSILON: 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.
What changed
EPSILON
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2,479
2024 · €124,071-€126,550
Equity
€1.9m
2024 · €1.9m-€2,479
Cash
€74,423
2024 · €100,302-€25,879
Balance sheet total
€4.1m
2024 · €4.4m-€262,527
Largest movements
Assets
- Receivables within one year -€114,340
down €114,340 (-68.3%), from €167,299 to €52,959
of which Other amounts receivable: -€83,991
- Tangible fixed assets -€98,107
down €98,107 (-8.2%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€99,816
Equity and liabilities
- Trade debts -€216,422
down €216,422 (-28.2%), from €766,870 to €550,448
- Other debts -€129,216
down €129,216 (-8.7%), from €1.5m to €1.4m
- Tax, wage and social debts +€65,333
up €65,333 (+40.0%), from €163,349 to €228,681
of which Taxes: +€44,189
Income statement
- Staff costs +€283,363
up €283,363 (+27.6%), from €1.0m to €1.3m
- Gross operating margin +€218,561
up €218,561 (+15.5%), from €1.4m to €1.6m
- Depreciation +€97,413
up €97,413 (+68.4%), from €142,450 to €239,863
- Taxes -€66,822
down €66,822, from €57,911 to -€8,911
- Write-downs +€20,779
up €20,779, from -€6,926 to €13,853
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.
Result 2024
€124,071
Gross operating margin
+€218,561
Staff costs
-€283,363
Depreciation
-€97,413
Write-downs
-€20,779
Other operating charges
+€19,837
Financial income
-€12,997
Financial charges
-€17,218
Taxes
+€66,822
Result 2025
-€2,479
raises the resultlowers the result
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.
From operations
+€93,758
Investment
-€141,756
Financing
+€22,119
Cash 2024
€100,302
From operations (derived)
+€93,758
Net result for the year
-€2,479
Depreciation
+€239,863
Stocks and contracts
+€22,202
Receivables within one year
+€114,340
Deferred charges and accrued income
+€1,999
Trade debts
-€216,422
Tax, wage and social debts
+€65,333
Advances received
-€1,619
Other debts
-€129,216
Accrued charges and deferred income
-€242
Investment (derived)
-€141,756
Investment in fixed assets (net)
-€141,756
Financing
+€22,119
Debts after one year
+€9,487
Current portion of long-term debt
+€12,632
Cash 2025
€74,423
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,374,476 | €4,111,949 | -€262,527 | -6.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,196,347 | €1,098,240 | -€98,107 | -8.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,194,361 | €1,096,254 | -€98,107 | -8.2% |
| Land and buildings | 22 | - | €20,315 | +€20,315 | |
| Plant, machinery and equipment | 23 | €462,898 | €363,082 | -€99,816 | -21.6% |
| Furniture and vehicles | 24 | €82,737 | €67,391 | -€15,346 | -18.5% |
| Leasing and similar rights | 25 | €36,957 | €64,773 | +€27,816 | +75.3% |
| Other tangible fixed assets | 26 | €611,769 | €580,693 | -€31,076 | -5.1% |
| Financial fixed assets | 28 | €1,986 | €1,986 | = | 0.0% |
| Current assets | 29/58 | €3,178,129 | €3,013,710 | -€164,420 | -5.2% |
| Stocks and contracts in progress | 3 | €2,897,400 | €2,875,197 | -€22,202 | -0.8% |
| Stocks | 30/36 | €2,897,400 | €2,875,197 | -€22,202 | -0.8% |
| Amounts receivable within one year | 40/41 | €167,299 | €52,959 | -€114,340 | -68.3% |
| Trade receivables | 40 | €48,308 | €17,959 | -€30,349 | -62.8% |
| Other amounts receivable | 41 | €118,991 | €35,000 | -€83,991 | -70.6% |
| Cash at bank and in hand | 54/58 | €100,302 | €74,423 | -€25,879 | -25.8% |
| Deferred charges and accrued income | 490/1 | €13,129 | €11,130 | -€1,999 | -15.2% |
| Total equity and liabilities | 10/49 | €4,374,476 | €4,111,949 | -€262,527 | -6.0% |
| Equity | 10/15 | €1,896,772 | €1,894,293 | -€2,479 | -0.1% |
| Contributions | 10/11 | €896,946 | €896,946 | = | 0.0% |
| Capital | 10 | €896,946 | €896,946 | = | 0.0% |
| Issued capital | 100 | €896,946 | €896,946 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €89,695 | €89,695 | = | 0.0% |
| Non-distributable reserves | 130/1 | €89,695 | €89,695 | = | 0.0% |
| Legal reserve | 130 | €89,695 | €89,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | €710,132 | €707,653 | -€2,479 | -0.3% |
| Amounts payable | 17/49 | €2,477,704 | €2,217,657 | -€260,048 | -10.5% |
| Amounts payable after more than one year | 17 | €21,675 | €31,162 | +€9,487 | +43.8% |
| Financial debts | 170/4 | €21,675 | €31,162 | +€9,487 | +43.8% |
| Amounts payable within one year | 42/48 | €2,436,342 | €2,167,049 | -€269,292 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €12,875 | €25,507 | +€12,632 | +98.1% |
| Trade debts | 44 | €766,870 | €550,448 | -€216,422 | -28.2% |
| Suppliers | 440/4 | €766,870 | €550,448 | -€216,422 | -28.2% |
| Advances received on contracts in progress | 46 | €11,799 | €10,180 | -€1,619 | -13.7% |
| Taxes, remuneration and social security | 45 | €163,349 | €228,681 | +€65,333 | +40.0% |
| Taxes | 450/3 | - | €44,189 | +€44,189 | |
| Remuneration and social security | 454/9 | €163,349 | €184,492 | +€21,143 | +12.9% |
| Other amounts payable | 47/48 | €1,481,450 | €1,352,234 | -€129,216 | -8.7% |
| Accrued charges and deferred income | 492/3 | €19,688 | €19,445 | -€242 | -1.2% |
| Remuneration, social security and pensions | 62 | €1,026,894 | €1,310,257 | +€283,363 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,450 | €239,863 | +€97,413 | +68.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,926 | €13,853 | +€20,779 | |
| Other operating charges | 640/8 | €113,492 | €93,655 | -€19,837 | -17.5% |
| Gross operating margin | 9900 | €1,406,899 | €1,625,459 | +€218,561 | +15.5% |
| Operating profit (loss) | 9901 | €130,989 | -€32,168 | -€163,157 | |
| Financial income | 75/76B | €100,424 | €87,427 | -€12,997 | -12.9% |
| Recurring financial income | 75 | €100,374 | €87,427 | -€12,947 | -12.9% |
| Non-recurring financial income | 76B | €50 | - | -€50 | |
| Financial charges | 65/66B | €49,430 | €66,649 | +€17,218 | +34.8% |
| Recurring financial charges | 65 | €49,430 | €66,649 | +€17,218 | +34.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €181,982 | -€11,390 | -€193,372 | |
| Income taxes | 67/77 | €57,911 | -€8,911 | -€66,822 | |
| Profit (loss) for the period | 9904 | €124,071 | -€2,479 | -€126,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,071 | -€2,479 | -€126,550 |
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 14 October 2026 via checked.be.