EQT: what changed
Two fiscal 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.
EQT
Largest movements
- Cash +€40,928
up €40,928 (+161.9%), from €25,277 to €66,205
mainly Depreciation (+€36,983) and Other debts (+€22,689)
- Tangible fixed assets -€18,133
down €18,133 (-13.5%), from €134,163 to €116,030
of which Plant, machinery and equipment: -€16,969
- Receivables within one year +€10,169
up €10,169 (+26.8%), from €37,917 to €48,087
of which Other amounts receivable: +€7,943
- Deferred charges and accrued income -€5,301
down €5,301 (-71.8%), from €7,388 to €2,087
- Other debts +€22,689
new in 2025: €22,689
- Reserves +€21,726
up €21,726 (+13.9%), from €155,958 to €177,684
- Trade debts -€7,766
down €7,766 (-50.3%), from €15,450 to €7,685
- Current portion of long-term debt -€6,761
no longer reported in 2025 (was €6,761)
- Gross operating margin -€30,115
down €30,115 (-30.5%), from €98,636 to €68,521
- Depreciation +€20,450
up €20,450 (+123.7%), from €16,533 to €36,983
- Taxes -€14,370
down €14,370 (-59.4%), from €24,207 to €9,837
- Financial charges -€1,580
down €1,580 (-62.2%), from €2,542 to €962
- Financial income -€1,077
down €1,077 (-52.2%), from €2,065 to €988
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.
Cash bridge derived
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 | €204,746 | €232,409 | +€27,663 | +13.5% |
| Fixed assets | 21/28 | €134,163 | €116,030 | -€18,133 | -13.5% |
| Tangible fixed assets | 22/27 | €134,163 | €116,030 | -€18,133 | -13.5% |
| Plant, machinery and equipment | 23 | €107,981 | €91,011 | -€16,969 | -15.7% |
| Furniture and vehicles | 24 | €26,183 | €25,019 | -€1,164 | -4.4% |
| Current assets | 29/58 | €70,582 | €116,379 | +€45,796 | +64.9% |
| Amounts receivable within one year | 40/41 | €37,917 | €48,087 | +€10,169 | +26.8% |
| Trade receivables | 40 | €27,465 | €29,691 | +€2,226 | +8.1% |
| Other amounts receivable | 41 | €10,452 | €18,396 | +€7,943 | +76.0% |
| Cash at bank and in hand | 54/58 | €25,277 | €66,205 | +€40,928 | +161.9% |
| Deferred charges and accrued income | 490/1 | €7,388 | €2,087 | -€5,301 | -71.8% |
| Total equity and liabilities | 10/49 | €204,746 | €232,409 | +€27,663 | +13.5% |
| Equity | 10/15 | €174,558 | €196,284 | +€21,726 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,958 | €177,684 | +€21,726 | +13.9% |
| Distributable reserves | 133 | €155,958 | €177,684 | +€21,726 | +13.9% |
| Amounts payable | 17/49 | €30,188 | €36,125 | +€5,937 | +19.7% |
| Amounts payable within one year | 42/48 | €22,262 | €30,424 | +€8,162 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €6,761 | - | -€6,761 | |
| Trade debts | 44 | €15,450 | €7,685 | -€7,766 | -50.3% |
| Suppliers | 440/4 | €15,450 | €7,685 | -€7,766 | -50.3% |
| Taxes, remuneration and social security | 45 | €51 | €51 | = | 0.0% |
| Remuneration and social security | 454/9 | €51 | €51 | = | 0.0% |
| Other amounts payable | 47/48 | - | €22,689 | +€22,689 | |
| Accrued charges and deferred income | 492/3 | €7,926 | €5,701 | -€2,225 | -28.1% |
| Remuneration, social security and pensions | 62 | €241 | - | -€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,533 | €36,983 | +€20,450 | +123.7% |
| Non-recurring operating charges | 66A | €549 | - | -€549 | |
| Gross operating margin | 9900 | €98,636 | €68,521 | -€30,115 | -30.5% |
| Operating profit (loss) | 9901 | €81,313 | €31,537 | -€49,775 | -61.2% |
| Financial income | 75/76B | €2,065 | €988 | -€1,077 | -52.2% |
| Recurring financial income | 75 | €2,065 | €988 | -€1,077 | -52.2% |
| Financial charges | 65/66B | €2,542 | €962 | -€1,580 | -62.2% |
| Recurring financial charges | 65 | €2,542 | €962 | -€1,580 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €80,836 | €31,564 | -€49,273 | -61.0% |
| Income taxes | 67/77 | €24,207 | €9,837 | -€14,370 | -59.4% |
| Profit (loss) for the period | 9904 | €56,629 | €21,726 | -€34,903 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,629 | €21,726 | -€34,903 | -61.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.