Epsilon BS: 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.
Epsilon BS
Largest movements
- Receivables within one year +€67,976
up €67,976 (+53.6%), from €126,930 to €194,906
of which Trade receivables: +€56,015
- Cash +€37,063
up €37,063 (+1,904%), from €1,947 to €39,010
mainly Trade debts (+€78,368) and Tax, wage and social debts (+€18,609)
- Deferred charges and accrued income +€13,862
new in 2025: €13,862
- Trade debts +€78,368
up €78,368 (+832%), from €9,421 to €87,789
- Tax, wage and social debts +€18,609
up €18,609 (+46.9%), from €39,676 to €58,285
of which Taxes: +€16,725
- Reserves +€14,849
up €14,849 (+16.8%), from €88,347 to €103,196
- Other debts +€5,770
up €5,770 (+4,113%), from €140 to €5,910
- Gross operating margin -€83,539
down €83,539 (-70.8%), from €117,990 to €34,451
- Taxes -€18,798
down €18,798 (-77.5%), from €24,270 to €5,472
- Staff costs +€7,549
new in 2025: €7,549
- Depreciation +€1,447
up €1,447 (+36.1%), from €4,008 to €5,456
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 | €140,584 | €258,180 | +€117,595 | +83.6% |
| Fixed assets | 21/28 | €11,708 | €10,402 | -€1,306 | -11.2% |
| Tangible fixed assets | 22/27 | €11,708 | €10,402 | -€1,306 | -11.2% |
| Plant, machinery and equipment | 23 | - | €2,492 | +€2,492 | |
| Furniture and vehicles | 24 | €11,708 | €7,911 | -€3,797 | -32.4% |
| Current assets | 29/58 | €128,877 | €247,778 | +€118,901 | +92.3% |
| Amounts receivable within one year | 40/41 | €126,930 | €194,906 | +€67,976 | +53.6% |
| Trade receivables | 40 | €111,025 | €167,041 | +€56,015 | +50.5% |
| Other amounts receivable | 41 | €15,904 | €27,865 | +€11,961 | +75.2% |
| Cash at bank and in hand | 54/58 | €1,947 | €39,010 | +€37,063 | +1,904% |
| Deferred charges and accrued income | 490/1 | - | €13,862 | +€13,862 | |
| Total equity and liabilities | 10/49 | €140,584 | €258,180 | +€117,595 | +83.6% |
| Equity | 10/15 | €91,347 | €106,196 | +€14,849 | +16.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €88,347 | €103,196 | +€14,849 | +16.8% |
| Distributable reserves | 133 | €88,347 | €103,196 | +€14,849 | +16.8% |
| Amounts payable | 17/49 | €49,237 | €151,984 | +€102,747 | +209% |
| Amounts payable within one year | 42/48 | €49,237 | €151,984 | +€102,747 | +209% |
| Trade debts | 44 | €9,421 | €87,789 | +€78,368 | +832% |
| Suppliers | 440/4 | €9,421 | €87,789 | +€78,368 | +832% |
| Taxes, remuneration and social security | 45 | €39,676 | €58,285 | +€18,609 | +46.9% |
| Taxes | 450/3 | €39,676 | €56,401 | +€16,725 | +42.2% |
| Remuneration and social security | 454/9 | - | €1,884 | +€1,884 | |
| Other amounts payable | 47/48 | €140 | €5,910 | +€5,770 | +4,113% |
| Remuneration, social security and pensions | 62 | - | €7,549 | +€7,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,008 | €5,456 | +€1,447 | +36.1% |
| Other operating charges | 640/8 | €1,359 | €866 | -€493 | -36.3% |
| Gross operating margin | 9900 | €117,990 | €34,451 | -€83,539 | -70.8% |
| Operating profit (loss) | 9901 | €112,623 | €20,581 | -€92,042 | -81.7% |
| Financial charges | 65/66B | €6 | €261 | +€254 | +4,143% |
| Recurring financial charges | 65 | €6 | €261 | +€254 | +4,143% |
| Profit (loss) for the period before taxes | 9903 | €112,617 | €20,320 | -€92,296 | -82.0% |
| Income taxes | 67/77 | €24,270 | €5,472 | -€18,798 | -77.5% |
| Profit (loss) for the period | 9904 | €88,347 | €14,849 | -€73,498 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,347 | €14,849 | -€73,498 | -83.2% |
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 21 October 2026 via checked.be.