EQUALIS: 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.
EQUALIS
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+283.2%), from €774,246 to €3.0m
of which Land and buildings: +€2.2m
- Cash -€800,656
down €800,656 (-28.7%), from €2.8m to €2.0m
mainly Investment in fixed assets (net) (-€2.4m) and Contributions, distributions and other (-€1.4m)
- Debts after one year +€1.9m
up €1.9m (+715.8%), from €263,855 to €2.2m
- Other debts -€891,038
down €891,038 (-34.2%), from €2.6m to €1.7m
- Advances received -€500,662
down €500,662 (-97.6%), from €513,184 to €12,522
- Reserves +€358,458
up €358,458 (+16.6%), from €2.2m to €2.5m
of which Distributable reserves: +€233,280
- Trade debts +€215,516
up €215,516 (+33.0%), from €653,099 to €868,615
- Gross operating margin +€655,299
up €655,299 (+17.7%), from €3.7m to €4.4m
- Depreciation +€91,646
up €91,646 (+86.9%), from €105,414 to €197,060
- Financial charges +€51,296
up €51,296 (+176.6%), from €29,042 to €80,338
- Taxes +€49,094
up €49,094 (+10.1%), from €486,146 to €535,241
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 | €6,912,784 | €8,264,646 | +€1.4m | +19.6% |
| Fixed assets | 21/28 | €815,746 | €3,015,058 | +€2.2m | +269.6% |
| Intangible fixed assets | 21 | €39,320 | €45,642 | +€6,322 | +16.1% |
| Tangible fixed assets | 22/27 | €774,246 | €2,967,236 | +€2.2m | +283.2% |
| Land and buildings | 22 | €681,420 | €2,880,164 | +€2.2m | +322.7% |
| Plant, machinery and equipment | 23 | €43,257 | €36,351 | -€6,907 | -16.0% |
| Furniture and vehicles | 24 | €45,335 | €45,178 | -€157 | -0.3% |
| Other tangible fixed assets | 26 | €4,234 | €5,544 | +€1,309 | +30.9% |
| Financial fixed assets | 28 | €2,180 | €2,180 | = | 0.0% |
| Current assets | 29/58 | €6,097,038 | €5,249,588 | -€847,450 | -13.9% |
| Amounts receivable within one year | 40/41 | €3,270,026 | €3,214,729 | -€55,297 | -1.7% |
| Trade receivables | 40 | €3,263,284 | €3,214,729 | -€48,555 | -1.5% |
| Other amounts receivable | 41 | €6,742 | €0 | -€6,742 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,785,667 | €1,985,011 | -€800,656 | -28.7% |
| Deferred charges and accrued income | 490/1 | €41,345 | €49,848 | +€8,504 | +20.6% |
| Total equity and liabilities | 10/49 | €6,912,784 | €8,264,646 | +€1.4m | +19.6% |
| Equity | 10/15 | €2,187,648 | €2,546,107 | +€358,458 | +16.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €2,157,648 | €2,516,107 | +€358,458 | +16.6% |
| Tax-exempt reserves | 132 | - | €125,178 | +€125,178 | |
| Distributable reserves | 133 | €2,157,648 | €2,390,929 | +€233,280 | +10.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €41,726 | +€41,726 | |
| Deferred taxes | 168 | - | €41,726 | +€41,726 | |
| Amounts payable | 17/49 | €4,725,136 | €5,676,813 | +€951,677 | +20.1% |
| Amounts payable after more than one year | 17 | €263,855 | €2,152,558 | +€1.9m | +715.8% |
| Financial debts | 170/4 | €263,855 | €2,152,558 | +€1.9m | +715.8% |
| Amounts payable within one year | 42/48 | €4,459,524 | €3,495,525 | -€963,999 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €132,886 | €141,377 | +€8,491 | +6.4% |
| Financial debts | 43 | €191,432 | €270,298 | +€78,867 | +41.2% |
| Credit institutions | 430/8 | €191,432 | €270,298 | +€78,867 | +41.2% |
| Trade debts | 44 | €653,099 | €868,615 | +€215,516 | +33.0% |
| Suppliers | 440/4 | €653,099 | €868,615 | +€215,516 | +33.0% |
| Advances received on contracts in progress | 46 | €513,184 | €12,522 | -€500,662 | -97.6% |
| Taxes, remuneration and social security | 45 | €365,885 | €490,712 | +€124,827 | +34.1% |
| Taxes | 450/3 | €151,629 | €285,004 | +€133,375 | +88.0% |
| Remuneration and social security | 454/9 | €214,256 | €205,708 | -€8,548 | -4.0% |
| Other amounts payable | 47/48 | €2,603,038 | €1,712,000 | -€891,038 | -34.2% |
| Accrued charges and deferred income | 492/3 | €1,757 | €28,731 | +€26,974 | +1535.1% |
| Non-recurring operating income | 76A | €7,800 | €172,742 | +€164,942 | +2114.6% |
| Remuneration, social security and pensions | 62 | €1,703,774 | €1,747,049 | +€43,275 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,414 | €197,060 | +€91,646 | +86.9% |
| Other operating charges | 640/8 | €3,602 | €31,138 | +€27,537 | +764.6% |
| Gross operating margin | 9900 | €3,710,071 | €4,365,370 | +€655,299 | +17.7% |
| Operating profit (loss) | 9901 | €1,897,282 | €2,390,122 | +€492,840 | +26.0% |
| Financial income | 75/76B | €17,894 | €17,641 | -€253 | -1.4% |
| Recurring financial income | 75 | €17,894 | €17,641 | -€253 | -1.4% |
| Financial charges | 65/66B | €29,042 | €80,338 | +€51,296 | +176.6% |
| Recurring financial charges | 65 | €29,042 | €80,338 | +€51,296 | +176.6% |
| Profit (loss) for the period before taxes | 9903 | €1,886,133 | €2,327,425 | +€441,292 | +23.4% |
| Transfer from deferred taxes | 780 | - | €1,175 | +€1,175 | |
| Transfer to deferred taxes | 680 | - | €42,901 | +€42,901 | |
| Income taxes | 67/77 | €486,146 | €535,241 | +€49,094 | +10.1% |
| Profit (loss) for the period | 9904 | €1,399,987 | €1,750,458 | +€350,472 | +25.0% |
| Transfer from tax-exempt reserves | 789 | - | €3,526 | +€3,526 | |
| Transfer to tax-exempt reserves | 689 | - | €128,704 | +€128,704 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,399,987 | €1,625,280 | +€225,294 | +16.1% |
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 11 October 2026 via checked.be.