EPV: 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.
EPV
Largest movements
- Receivables within one year -€75,520
down €75,520 (-50.8%), from €148,655 to €73,135
of which Trade receivables: -€80,084
- Cash +€66,260
up €66,260 (+139%), from €47,777 to €114,037
mainly Receivables within one year (+€75,520) and Depreciation (+€36,339)
- Tangible fixed assets +€8,259
up €8,259 (+10.8%), from €76,792 to €85,050
of which Furniture and vehicles: +€8,483
- Deferred charges and accrued income +€3,303
up €3,303 (+58.8%), from €5,615 to €8,918
- Other debts +€17,911
up €17,911 (+109%), from €16,433 to €34,344
- Tax, wage and social debts -€16,286
down €16,286 (-97.8%), from €16,651 to €365
of which Taxes: -€14,286
- Current portion of long-term debt +€5,767
up €5,767 (+45.8%), from €12,598 to €18,365
- Gross operating margin -€87,954
down €87,954 (-44.0%), from €199,749 to €111,795
- Taxes -€21,412
down €21,412, from €17,930 to -€3,482
- Staff costs -€19,516
down €19,516 (-20.5%), from €94,985 to €75,469
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 | €282,589 | €284,891 | +€2,302 | +0.8% |
| Fixed assets | 21/28 | €80,542 | €88,800 | +€8,259 | +10.3% |
| Tangible fixed assets | 22/27 | €76,792 | €85,050 | +€8,259 | +10.8% |
| Plant, machinery and equipment | 23 | - | €1,209 | +€1,209 | |
| Furniture and vehicles | 24 | €74,612 | €83,095 | +€8,483 | +11.4% |
| Leasing and similar rights | 25 | €2,180 | €746 | -€1,433 | -65.8% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €202,047 | €196,090 | -€5,957 | -2.9% |
| Amounts receivable within one year | 40/41 | €148,655 | €73,135 | -€75,520 | -50.8% |
| Trade receivables | 40 | €130,713 | €50,630 | -€80,084 | -61.3% |
| Other amounts receivable | 41 | €17,942 | €22,506 | +€4,564 | +25.4% |
| Cash at bank and in hand | 54/58 | €47,777 | €114,037 | +€66,260 | +139% |
| Deferred charges and accrued income | 490/1 | €5,615 | €8,918 | +€3,303 | +58.8% |
| Total equity and liabilities | 10/49 | €282,589 | €284,891 | +€2,302 | +0.8% |
| Equity | 10/15 | €216,633 | €214,552 | -€2,081 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €195,000 | €195,000 | = | 0.0% |
| Distributable reserves | 133 | €195,000 | €195,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,033 | €952 | -€2,081 | -68.6% |
| Amounts payable | 17/49 | €65,956 | €70,339 | +€4,383 | +6.6% |
| Amounts payable after more than one year | 17 | €13,191 | €11,717 | -€1,474 | -11.2% |
| Financial debts | 170/4 | €13,191 | €11,717 | -€1,474 | -11.2% |
| Amounts payable within one year | 42/48 | €52,765 | €58,622 | +€5,857 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €12,598 | €18,365 | +€5,767 | +45.8% |
| Trade debts | 44 | €7,083 | €5,548 | -€1,535 | -21.7% |
| Suppliers | 440/4 | €7,083 | €5,548 | -€1,535 | -21.7% |
| Taxes, remuneration and social security | 45 | €16,651 | €365 | -€16,286 | -97.8% |
| Taxes | 450/3 | €14,651 | €365 | -€14,286 | -97.5% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €16,433 | €34,344 | +€17,911 | +109% |
| Remuneration, social security and pensions | 62 | €94,985 | €75,469 | -€19,516 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,437 | €36,339 | -€98 | -0.3% |
| Other operating charges | 640/8 | €1,853 | €3,482 | +€1,629 | +87.9% |
| Gross operating margin | 9900 | €199,749 | €111,795 | -€87,954 | -44.0% |
| Operating profit (loss) | 9901 | €66,474 | -€3,495 | -€69,969 | |
| Financial income | 75/76B | €186 | €0 | -€186 | -100.0% |
| Recurring financial income | 75 | €186 | €0 | -€186 | -100.0% |
| Financial charges | 65/66B | €2,040 | €2,068 | +€28 | +1.4% |
| Recurring financial charges | 65 | €2,040 | €2,068 | +€28 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €64,620 | -€5,563 | -€70,183 | |
| Income taxes | 67/77 | €17,930 | -€3,482 | -€21,412 | |
| Profit (loss) for the period | 9904 | €46,690 | -€2,081 | -€48,771 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,690 | -€2,081 | -€48,771 |
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.