EPUR: 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.
EPUR
Largest movements
- Stocks and contracts -€490,965
down €490,965 (-34.1%), from €1.4m to €949,844
- Receivables within one year +€428,788
up €428,788 (+34.0%), from €1.3m to €1.7m
of which Other amounts receivable: +€373,154
- Tangible fixed assets -€149,424
down €149,424 (-41.0%), from €364,118 to €214,695
of which Assets under construction and advance payments: -€77,431
- Trade debts -€642,338
down €642,338 (-67.3%), from €953,998 to €311,660
- Profit (loss) carried forward +€381,064
up €381,064 (+25.8%), from €1.5m to €1.9m
- Tax, wage and social debts +€53,441
up €53,441 (+23.9%), from €223,574 to €277,015
of which Taxes: +€45,563
- Provisions -€39,228
down €39,228 (-20.1%), from €195,138 to €155,910
- Gross operating margin +€687,199
up €687,199 (+75.7%), from €908,168 to €1.6m
- Depreciation -€71,054
down €71,054 (-47.2%), from €150,685 to €79,631
- Financial charges -€70,179
down €70,179, from €61,027 to -€9,152
- Staff costs +€46,095
up €46,095 (+4.4%), from €1.0m to €1.1m
- Provisions -€39,228
down €39,228, from €0 to -€39,228
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,151,829 | €2,893,749 | -€258,079 | -8.2% |
| Fixed assets | 21/28 | €440,460 | €244,854 | -€195,606 | -44.4% |
| Intangible fixed assets | 21 | €56,091 | €30,160 | -€25,931 | -46.2% |
| Tangible fixed assets | 22/27 | €364,118 | €214,695 | -€149,424 | -41.0% |
| Land and buildings | 22 | €142,051 | €121,001 | -€21,050 | -14.8% |
| Plant, machinery and equipment | 23 | €141,178 | €92,414 | -€48,764 | -34.5% |
| Furniture and vehicles | 24 | €3,459 | €1,280 | -€2,179 | -63.0% |
| Assets under construction and advance payments | 27 | €77,431 | €0 | -€77,431 | -100% |
| Financial fixed assets | 28 | €20,251 | €0 | -€20,251 | -100% |
| Current assets | 29/58 | €2,711,368 | €2,648,895 | -€62,473 | -2.3% |
| Stocks and contracts in progress | 3 | €1,440,809 | €949,844 | -€490,965 | -34.1% |
| Stocks | 30/36 | €1,440,809 | €949,844 | -€490,965 | -34.1% |
| Amounts receivable within one year | 40/41 | €1,262,115 | €1,690,903 | +€428,788 | +34.0% |
| Trade receivables | 40 | €359,938 | €415,572 | +€55,634 | +15.5% |
| Other amounts receivable | 41 | €902,177 | €1,275,331 | +€373,154 | +41.4% |
| Deferred charges and accrued income | 490/1 | €8,444 | €8,148 | -€296 | -3.5% |
| Total equity and liabilities | 10/49 | €3,151,829 | €2,893,749 | -€258,079 | -8.2% |
| Equity | 10/15 | €1,752,784 | €2,133,847 | +€381,064 | +21.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,477,784 | €1,858,847 | +€381,064 | +25.8% |
| Provisions and deferred taxes | 16 | €195,138 | €155,910 | -€39,228 | -20.1% |
| Provisions for liabilities and charges | 160/5 | €195,138 | €155,910 | -€39,228 | -20.1% |
| Environmental obligations | 163 | €45,138 | €5,910 | -€39,228 | -86.9% |
| Other liabilities and charges | 164/5 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,203,907 | €603,992 | -€599,915 | -49.8% |
| Amounts payable within one year | 42/48 | €1,177,572 | €588,675 | -€588,897 | -50.0% |
| Trade debts | 44 | €953,998 | €311,660 | -€642,338 | -67.3% |
| Suppliers | 440/4 | €953,998 | €311,660 | -€642,338 | -67.3% |
| Taxes, remuneration and social security | 45 | €223,574 | €277,015 | +€53,441 | +23.9% |
| Taxes | 450/3 | €47,557 | €93,119 | +€45,563 | +95.8% |
| Remuneration and social security | 454/9 | €176,017 | €183,896 | +€7,879 | +4.5% |
| Accrued charges and deferred income | 492/3 | €26,335 | €15,317 | -€11,018 | -41.8% |
| Non-recurring operating income | 76A | - | €125,983 | +€125,983 | |
| Remuneration, social security and pensions | 62 | €1,046,298 | €1,092,394 | +€46,095 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,685 | €79,631 | -€71,054 | -47.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,398 | -€8,355 | -€29,753 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€39,228 | -€39,228 | |
| Other operating charges | 640/8 | €23,176 | €32,211 | +€9,034 | +39.0% |
| Non-recurring operating charges | 66A | €57,417 | €2,197 | -€55,219 | -96.2% |
| Gross operating margin | 9900 | €908,168 | €1,595,367 | +€687,199 | +75.7% |
| Operating profit (loss) | 9901 | -€390,806 | €436,518 | +€827,324 | |
| Financial charges | 65/66B | €61,027 | -€9,152 | -€70,179 | |
| Recurring financial charges | 65 | €61,027 | -€9,152 | -€70,179 | |
| Profit (loss) for the period before taxes | 9903 | -€451,833 | €445,669 | +€897,503 | |
| Income taxes | 67/77 | €37,531 | €64,606 | +€27,075 | +72.1% |
| Profit (loss) for the period | 9904 | -€489,364 | €381,064 | +€870,428 | |
| Profit (loss) for the period to be appropriated | 9905 | -€489,364 | €381,064 | +€870,428 |
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.