EQUA: 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.
EQUA
Largest movements
- Tangible fixed assets +€193,020
up €193,020 (+333.2%), from €57,923 to €250,942
of which Land and buildings: +€197,472
- Cash -€36,026
down €36,026 (-50.5%), from €71,394 to €35,367
mainly Investment in fixed assets (net) (-€217,014) and Trade debts (-€31,125)
- Receivables within one year +€15,487
up €15,487 (+16.9%), from €91,855 to €107,342
of which Other amounts receivable: +€31,827
- Debts after one year +€183,150
up €183,150 (+407.0%), from €45,000 to €228,150
of which Other amounts payable: +€114,580
- Trade debts -€31,125
down €31,125 (-79.4%), from €39,194 to €8,069
- Reserves +€29,424
up €29,424 (+27.8%), from €105,794 to €135,218
- Tax, wage and social debts -€8,614
down €8,614 (-49.7%), from €17,341 to €8,727
of which Remuneration and social security: -€5,877
- Current portion of long-term debt +€4,973
up €4,973 (+341.5%), from €1,456 to €6,430
- Gross operating margin +€14,757
up €14,757 (+18.2%), from €80,870 to €95,627
- Taxes +€2,153
up €2,153 (+21.3%), from €10,094 to €12,247
- Staff costs -€2,114
down €2,114 (-11.1%), from €19,117 to €17,004
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 | €225,960 | €400,824 | +€174,864 | +77.4% |
| Fixed assets | 21/28 | €58,011 | €251,030 | +€193,020 | +332.7% |
| Tangible fixed assets | 22/27 | €57,923 | €250,942 | +€193,020 | +333.2% |
| Land and buildings | 22 | - | €197,472 | +€197,472 | |
| Plant, machinery and equipment | 23 | €24,745 | €27,596 | +€2,851 | +11.5% |
| Furniture and vehicles | 24 | €33,178 | €25,874 | -€7,304 | -22.0% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €167,949 | €149,794 | -€18,156 | -10.8% |
| Amounts receivable within one year | 40/41 | €91,855 | €107,342 | +€15,487 | +16.9% |
| Trade receivables | 40 | €91,014 | €74,674 | -€16,340 | -18.0% |
| Other amounts receivable | 41 | €841 | €32,667 | +€31,827 | +3785.6% |
| Cash at bank and in hand | 54/58 | €71,394 | €35,367 | -€36,026 | -50.5% |
| Deferred charges and accrued income | 490/1 | €4,701 | €7,085 | +€2,384 | +50.7% |
| Total equity and liabilities | 10/49 | €225,960 | €400,824 | +€174,864 | +77.4% |
| Equity | 10/15 | €118,194 | €147,618 | +€29,424 | +24.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €105,794 | €135,218 | +€29,424 | +27.8% |
| Distributable reserves | 133 | €105,794 | €135,218 | +€29,424 | +27.8% |
| Amounts payable | 17/49 | €107,766 | €253,206 | +€145,440 | +135.0% |
| Amounts payable after more than one year | 17 | €45,000 | €228,150 | +€183,150 | +407.0% |
| Financial debts | 170/4 | - | €68,570 | +€68,570 | |
| Other amounts payable | 178/9 | €45,000 | €159,580 | +€114,580 | +254.6% |
| Amounts payable within one year | 42/48 | €58,081 | €25,055 | -€33,025 | -56.9% |
| Current portion of amounts payable after more than one year | 42 | €1,456 | €6,430 | +€4,973 | +341.5% |
| Financial debts | 43 | - | €1,741 | +€1,741 | |
| Other loans | 439 | - | €1,741 | +€1,741 | |
| Trade debts | 44 | €39,194 | €8,069 | -€31,125 | -79.4% |
| Suppliers | 440/4 | €39,194 | €8,069 | -€31,125 | -79.4% |
| Taxes, remuneration and social security | 45 | €17,341 | €8,727 | -€8,614 | -49.7% |
| Taxes | 450/3 | €11,039 | €8,302 | -€2,737 | -24.8% |
| Remuneration and social security | 454/9 | €6,302 | €425 | -€5,877 | -93.3% |
| Other amounts payable | 47/48 | €89 | €89 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,685 | - | -€4,685 | |
| Remuneration, social security and pensions | 62 | €19,117 | €17,004 | -€2,114 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,918 | €23,994 | +€76 | +0.3% |
| Other operating charges | 640/8 | €817 | €838 | +€21 | +2.5% |
| Gross operating margin | 9900 | €80,870 | €95,627 | +€14,757 | +18.2% |
| Operating profit (loss) | 9901 | €37,017 | €53,791 | +€16,774 | +45.3% |
| Financial income | 75/76B | €118 | €50 | -€68 | -57.6% |
| Recurring financial income | 75 | €118 | €50 | -€68 | -57.6% |
| Financial charges | 65/66B | €1,823 | €2,645 | +€822 | +45.1% |
| Recurring financial charges | 65 | €1,823 | €2,645 | +€822 | +45.1% |
| Profit (loss) for the period before taxes | 9903 | €35,312 | €51,196 | +€15,884 | +45.0% |
| Income taxes | 67/77 | €10,094 | €12,247 | +€2,153 | +21.3% |
| Profit (loss) for the period | 9904 | €25,218 | €38,950 | +€13,732 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,218 | €38,950 | +€13,732 | +54.5% |
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 2 October 2026 via checked.be.