EPUR'AUBEL: 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'AUBEL
Largest movements
- Tangible fixed assets -€183,018
down €183,018 (-27.0%), from €679,020 to €496,003
of which Plant, machinery and equipment: -€179,685
- Receivables within one year +€41,742
up €41,742 (+46.7%), from €89,475 to €131,218
- Debts after one year -€106,429
down €106,429 (-46.1%), from €231,051 to €124,622
- Current portion of long-term debt -€45,283
down €45,283 (-29.8%), from €151,712 to €106,429
- Short-term financial debts +€18,502
up €18,502 (+475%), from €3,895 to €22,397
- Trade debts +€9,601
up €9,601 (+3.4%), from €278,704 to €288,306
- Investment grants -€9,024
down €9,024 (-62.8%), from €14,371 to €5,348
- Turnover +€79,702
up €79,702 (+10.6%), from €752,683 to €832,385
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 | €790,338 | €649,547 | -€140,791 | -17.8% |
| Fixed assets | 21/28 | €682,979 | €497,461 | -€185,518 | -27.2% |
| Intangible fixed assets | 21 | €3,958 | €1,459 | -€2,500 | -63.2% |
| Tangible fixed assets | 22/27 | €679,020 | €496,003 | -€183,018 | -27.0% |
| Land and buildings | 22 | €89,189 | €85,856 | -€3,333 | -3.7% |
| Plant, machinery and equipment | 23 | €589,831 | €410,146 | -€179,685 | -30.5% |
| Current assets | 29/58 | €107,360 | €152,086 | +€44,726 | +41.7% |
| Stocks and contracts in progress | 3 | €17,098 | €19,910 | +€2,811 | +16.4% |
| Stocks | 30/36 | €17,098 | €19,910 | +€2,811 | +16.4% |
| Amounts receivable within one year | 40/41 | €89,475 | €131,218 | +€41,742 | +46.7% |
| Trade receivables | 40 | €89,475 | €131,218 | +€41,742 | +46.7% |
| Deferred charges and accrued income | 490/1 | €786 | €959 | +€173 | +22.0% |
| Total equity and liabilities | 10/49 | €790,338 | €649,547 | -€140,791 | -17.8% |
| Equity | 10/15 | €93,332 | €84,660 | -€8,672 | -9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,501 | €33,853 | +€352 | +1.1% |
| Investment grants | 15 | €14,371 | €5,348 | -€9,024 | -62.8% |
| Amounts payable | 17/49 | €697,006 | €564,887 | -€132,120 | -19.0% |
| Amounts payable after more than one year | 17 | €231,051 | €124,622 | -€106,429 | -46.1% |
| Financial debts | 170/4 | €231,051 | €124,622 | -€106,429 | -46.1% |
| Amounts payable within one year | 42/48 | €442,567 | €425,430 | -€17,136 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €151,712 | €106,429 | -€45,283 | -29.8% |
| Financial debts | 43 | €3,895 | €22,397 | +€18,502 | +475% |
| Credit institutions | 430/8 | €3,895 | €22,397 | +€18,502 | +475% |
| Trade debts | 44 | €278,704 | €288,306 | +€9,601 | +3.4% |
| Suppliers | 440/4 | €278,704 | €288,306 | +€9,601 | +3.4% |
| Taxes, remuneration and social security | 45 | €8,255 | €8,299 | +€44 | +0.5% |
| Taxes | 450/3 | €8,255 | €8,299 | +€44 | +0.5% |
| Accrued charges and deferred income | 492/3 | €23,389 | €14,834 | -€8,555 | -36.6% |
| Turnover | 70 | €752,683 | €832,385 | +€79,702 | +10.6% |
| Non-recurring operating income | 76A | €6,000 | - | -€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212,941 | €214,267 | +€1,327 | +0.6% |
| Other operating charges | 640/8 | €10,060 | €8,544 | -€1,515 | -15.1% |
| Gross operating margin | 9900 | €226,093 | €223,131 | -€2,962 | -1.3% |
| Operating profit (loss) | 9901 | €3,093 | €319 | -€2,774 | -89.7% |
| Financial income | 75/76B | €9,024 | €9,024 | +€0 | 0.0% |
| Recurring financial income | 75 | €9,024 | €9,024 | +€0 | 0.0% |
| Financial charges | 65/66B | €11,442 | €8,991 | -€2,451 | -21.4% |
| Recurring financial charges | 65 | €11,442 | €8,991 | -€2,451 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €674 | €352 | -€322 | -47.8% |
| Profit (loss) for the period | 9904 | €674 | €352 | -€322 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €674 | €352 | -€322 | -47.8% |
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 19 October 2026 via checked.be.