EPSILON PROJECT: 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 PROJECT
Largest movements
- Cash +€51,006
up €51,006 (+432%), from €11,804 to €62,810
mainly Net result for the year (+€65,522) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2024 (was €50,000)
- Receivables within one year +€36,997
up €36,997 (+48.5%), from €76,286 to €113,282
of which Other amounts receivable: +€52,484
- Financial fixed assets +€6,500
new in 2024: €6,500
- Deferred charges and accrued income -€4,588
down €4,588 (-55.0%), from €8,338 to €3,750
- Profit (loss) carried forward +€65,522
up €65,522 (+78.7%), from €83,305 to €148,827
- Other debts -€11,869
down €11,869 (-73.4%), from €16,172 to €4,303
- Tax, wage and social debts -€8,332
down €8,332 (-19.9%), from €41,819 to €33,487
of which Taxes: -€5,668
- Trade debts -€6,610
down €6,610 (-92.5%), from €7,149 to €539
- Gross operating margin -€15,863
down €15,863 (-14.5%), from €109,765 to €93,901
- Other operating charges +€4,082
up €4,082 (+215%), from €1,896 to €5,979
- Financial income +€3,223
up €3,223 (+16,961%), from €19 to €3,242
- Depreciation +€1,490
up €1,490 (+115%), from €1,293 to €2,783
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,445 | €192,156 | +€38,710 | +25.2% |
| Fixed assets | 21/28 | €7,017 | €12,313 | +€5,296 | +75.5% |
| Tangible fixed assets | 22/27 | €7,017 | €5,813 | -€1,204 | -17.2% |
| Plant, machinery and equipment | 23 | €1,281 | €820 | -€461 | -36.0% |
| Furniture and vehicles | 24 | €5,736 | €4,993 | -€744 | -13.0% |
| Financial fixed assets | 28 | - | €6,500 | +€6,500 | |
| Current assets | 29/58 | €146,428 | €179,843 | +€33,415 | +22.8% |
| Amounts receivable within one year | 40/41 | €76,286 | €113,282 | +€36,997 | +48.5% |
| Trade receivables | 40 | €48,399 | €32,912 | -€15,487 | -32.0% |
| Other amounts receivable | 41 | €27,886 | €80,370 | +€52,484 | +188% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €11,804 | €62,810 | +€51,006 | +432% |
| Deferred charges and accrued income | 490/1 | €8,338 | €3,750 | -€4,588 | -55.0% |
| Total equity and liabilities | 10/49 | €153,445 | €192,156 | +€38,710 | +25.2% |
| Equity | 10/15 | €88,305 | €153,827 | +€65,522 | +74.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,305 | €148,827 | +€65,522 | +78.7% |
| Amounts payable | 17/49 | €65,140 | €38,328 | -€26,811 | -41.2% |
| Amounts payable within one year | 42/48 | €65,140 | €38,328 | -€26,811 | -41.2% |
| Trade debts | 44 | €7,149 | €539 | -€6,610 | -92.5% |
| Suppliers | 440/4 | €7,149 | €539 | -€6,610 | -92.5% |
| Taxes, remuneration and social security | 45 | €41,819 | €33,487 | -€8,332 | -19.9% |
| Taxes | 450/3 | €39,154 | €33,487 | -€5,668 | -14.5% |
| Remuneration and social security | 454/9 | €2,665 | €0 | -€2,665 | -100.0% |
| Other amounts payable | 47/48 | €16,172 | €4,303 | -€11,869 | -73.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,293 | €2,783 | +€1,490 | +115% |
| Other operating charges | 640/8 | €1,896 | €5,979 | +€4,082 | +215% |
| Non-recurring operating charges | 66A | - | €129 | +€129 | |
| Gross operating margin | 9900 | €109,765 | €93,901 | -€15,863 | -14.5% |
| Operating profit (loss) | 9901 | €106,576 | €85,011 | -€21,565 | -20.2% |
| Financial income | 75/76B | €19 | €3,242 | +€3,223 | +16,961% |
| Recurring financial income | 75 | €19 | €3,242 | +€3,223 | +16,961% |
| Financial charges | 65/66B | €96 | €142 | +€46 | +47.7% |
| Recurring financial charges | 65 | €96 | €142 | +€46 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | €106,498 | €88,110 | -€18,389 | -17.3% |
| Income taxes | 67/77 | €23,193 | €22,588 | -€605 | -2.6% |
| Profit (loss) for the period | 9904 | €83,305 | €65,522 | -€17,783 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,305 | €65,522 | -€17,783 | -21.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.