EQUANS Services: 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.
What changed
EQUANS Services
NACE 81.100, Combined facilities support activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15.6m
2024 · €18.8m-€3.2m
Equity
€56.8m
2024 · €53.7m+€3.1m
Cash
€617,547
2024 · €603,794+€13,754
Balance sheet total
€250.1m
2024 · €237.3m+€12.9m
Largest movements
Assets
- Current investments +€27.8m
up €27.8m (+47.8%), from €58.1m to €85.9m
- Receivables within one year -€11.2m
down €11.2m (-7.2%), from €155.6m to €144.5m
of which Trade receivables: -€9.9m
Equity and liabilities
- Trade debts +€5.3m
up €5.3m (+9.1%), from €58.5m to €63.8m
- Tax, wage and social debts +€4.9m
up €4.9m (+16.8%), from €29.4m to €34.3m
of which Remuneration and social security: +€4.2m
- Profit (loss) carried forward +€3.1m
up €3.1m (+7.4%), from €42.3m to €45.4m
- Other debts -€2.7m
down €2.7m (-17.6%), from €15.5m to €12.8m
Income statement
- Turnover +€14.8m
up €14.8m (+2.9%), from €513.1m to €527.9m
- Services and other goods +€7.4m
up €7.4m (+9.8%), from €75.5m to €82.9m
- Staff costs +€6.6m
up €6.6m (+3.8%), from €173.9m to €180.5m
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.
Result 2024
€18.8m
Turnover
+€14.8m
Other operating income
-€4.3m
Goods and materials
-€3.8m
Services and other goods
-€7.4m
Staff costs
-€6.6m
Depreciation
+€216,058
Write-downs
+€545,628
Provisions
-€326,722
Other operating charges
+€773,148
Other operating items
-€164,643
Financial income
+€1.6m
Financial charges
-€357,150
Taxes
+€1.7m
Result 2025
€15.6m
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.
From operations
+€39.9m
Investment
-€27.4m
Financing
-€12.5m
Cash 2024
€603,794
From operations (derived)
+€39.9m
Net result for the year
+€15.6m
Depreciation
+€2.4m
Receivables after one year
+€116,441
Stocks and contracts
+€417,905
Receivables within one year
+€11.2m
Deferred charges and accrued income
+€428,791
Provisions
-€379,779
Trade debts
+€5.3m
Tax, wage and social debts
+€4.9m
Advances received
+€114,915
Other debts
-€2.7m
Accrued charges and deferred income
+€2.5m
Investment (derived)
-€27.4m
Investment in fixed assets (net)
+€383,361
Current investments
-€27.8m
Financing
-€12.5m
Contributions, distributions and other
-€12.5m
Cash 2025
€617,547
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,273,826 | €250,126,092 | +€12.9m | +5.4% |
| Fixed assets | 21/28 | €11,571,848 | €8,747,924 | -€2.8m | -24.4% |
| Intangible fixed assets | 21 | €4,401,291 | €2,386,990 | -€2.0m | -45.8% |
| Tangible fixed assets | 22/27 | €1,967,528 | €1,212,870 | -€754,658 | -38.4% |
| Land and buildings | 22 | €1,363,006 | €723,261 | -€639,745 | -46.9% |
| Plant, machinery and equipment | 23 | €209,410 | €280,421 | +€71,011 | +33.9% |
| Furniture and vehicles | 24 | €381,635 | €209,188 | -€172,447 | -45.2% |
| Assets under construction and advance payments | 27 | €13,477 | - | -€13,477 | |
| Financial fixed assets | 28 | €5,203,029 | €5,148,064 | -€54,965 | -1.1% |
| Affiliated companies | 280/1 | €5,146,814 | €5,146,814 | = | 0.0% |
| Participating interests | 280 | €5,146,814 | €5,146,814 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €100 | - | -€100 | |
| Participating interests | 282 | €100 | - | -€100 | |
| Other financial fixed assets | 284/8 | €56,115 | €1,250 | -€54,865 | -97.8% |
| Shares | 284 | €1,250 | €1,250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €54,865 | - | -€54,865 | |
| Current assets | 29/58 | €225,701,977 | €241,378,167 | +€15.7m | +6.9% |
| Amounts receivable after more than one year | 29 | €594,789 | €478,348 | -€116,441 | -19.6% |
| Trade receivables | 290 | €594,789 | €478,348 | -€116,441 | -19.6% |
| Stocks and contracts in progress | 3 | €1,058,232 | €640,327 | -€417,905 | -39.5% |
| Stocks | 30/36 | €1,058,232 | €640,327 | -€417,905 | -39.5% |
| Raw materials and consumables | 30/31 | €960,169 | €542,265 | -€417,905 | -43.5% |
| Goods purchased for resale | 34 | €98,063 | €98,063 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €155,635,582 | €144,474,654 | -€11.2m | -7.2% |
| Trade receivables | 40 | €151,349,309 | €141,434,400 | -€9.9m | -6.6% |
| Other amounts receivable | 41 | €4,286,273 | €3,040,254 | -€1.2m | -29.1% |
| Current investments | 50/53 | €58,076,596 | €85,863,097 | +€27.8m | +47.8% |
| Other investments | 51/53 | €58,076,596 | €85,863,097 | +€27.8m | +47.8% |
| Cash at bank and in hand | 54/58 | €603,794 | €617,547 | +€13,754 | +2.3% |
| Deferred charges and accrued income | 490/1 | €9,732,984 | €9,304,193 | -€428,791 | -4.4% |
| Total equity and liabilities | 10/49 | €237,273,826 | €250,126,092 | +€12.9m | +5.4% |
| Equity | 10/15 | €53,724,955 | €56,847,627 | +€3.1m | +5.8% |
| Contributions | 10/11 | €6,566,350 | €6,566,350 | = | 0.0% |
| Capital | 10 | €6,566,350 | €6,566,350 | = | 0.0% |
| Issued capital | 100 | €6,566,350 | €6,566,350 | = | 0.0% |
| Reserves | 13 | €4,868,984 | €4,868,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €679,409 | €679,409 | = | 0.0% |
| Legal reserve | 130 | €656,635 | €656,635 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,774 | €22,774 | = | 0.0% |
| Tax-exempt reserves | 132 | €223,104 | €223,104 | = | 0.0% |
| Distributable reserves | 133 | €3,966,471 | €3,966,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,289,621 | €45,412,293 | +€3.1m | +7.4% |
| Provisions and deferred taxes | 16 | €3,666,558 | €3,286,780 | -€379,779 | -10.4% |
| Provisions for liabilities and charges | 160/5 | €3,666,558 | €3,286,780 | -€379,779 | -10.4% |
| Pensions and similar obligations | 160 | €198,000 | €87,000 | -€111,000 | -56.1% |
| Other liabilities and charges | 164/5 | €3,468,558 | €3,199,780 | -€268,779 | -7.7% |
| Amounts payable | 17/49 | €179,882,312 | €189,991,684 | +€10.1m | +5.6% |
| Amounts payable within one year | 42/48 | €138,692,181 | €146,340,398 | +€7.6m | +5.5% |
| Trade debts | 44 | €58,511,157 | €63,839,774 | +€5.3m | +9.1% |
| Suppliers | 440/4 | €58,511,157 | €63,839,774 | +€5.3m | +9.1% |
| Advances received on contracts in progress | 46 | €35,277,893 | €35,392,808 | +€114,915 | +0.3% |
| Taxes, remuneration and social security | 45 | €29,360,411 | €34,300,491 | +€4.9m | +16.8% |
| Taxes | 450/3 | €3,020,259 | €3,713,189 | +€692,930 | +22.9% |
| Remuneration and social security | 454/9 | €26,340,152 | €30,587,303 | +€4.2m | +16.1% |
| Other amounts payable | 47/48 | €15,542,720 | €12,807,324 | -€2.7m | -17.6% |
| Accrued charges and deferred income | 492/3 | €41,190,131 | €43,651,287 | +€2.5m | +6.0% |
| Operating income | 70/76A | €522,765,455 | €533,179,220 | +€10.4m | +2.0% |
| Turnover | 70 | €513,147,803 | €527,939,533 | +€14.8m | +2.9% |
| Own construction capitalised | 72 | €37,405 | €7,452 | -€29,953 | -80.1% |
| Other operating income | 74 | €9,580,248 | €5,232,234 | -€4.3m | -45.4% |
| Operating charges | 60/66A | €496,564,608 | €513,196,400 | +€16.6m | +3.3% |
| Goods for resale, raw materials and consumables | 60 | €241,648,664 | €245,424,614 | +€3.8m | +1.6% |
| Purchases | 600/8 | €241,385,658 | €245,006,709 | +€3.6m | +1.5% |
| Change in stocks: decrease (increase) | 609 | €263,006 | €417,905 | +€154,899 | +58.9% |
| Services and other goods | 61 | €75,487,558 | €82,857,116 | +€7.4m | +9.8% |
| Remuneration, social security and pensions | 62 | €173,934,815 | €180,494,522 | +€6.6m | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,656,621 | €2,440,563 | -€216,058 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €516,229 | -€29,399 | -€545,628 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€541,501 | -€214,779 | +€326,722 | +60.3% |
| Other operating charges | 640/8 | €1,669,125 | €895,977 | -€773,148 | -46.3% |
| Non-recurring operating charges | 66A | €1,193,096 | €1,327,786 | +€134,690 | +11.3% |
| Operating profit (loss) | 9901 | €26,200,847 | €19,982,819 | -€6.2m | -23.7% |
| Financial income | 75/76B | €2,493,921 | €4,108,418 | +€1.6m | +64.7% |
| Recurring financial income | 75 | €2,491,817 | €4,108,418 | +€1.6m | +64.9% |
| Income from financial fixed assets | 750 | €824,926 | €2,604,713 | +€1.8m | +215.8% |
| Income from current assets | 751 | €1,604,783 | €1,468,116 | -€136,667 | -8.5% |
| Other financial income | 752/9 | €62,108 | €35,589 | -€26,519 | -42.7% |
| Non-recurring financial income | 76B | €2,103 | - | -€2,103 | |
| Financial charges | 65/66B | €753,480 | €1,110,630 | +€357,150 | +47.4% |
| Recurring financial charges | 65 | €753,480 | €1,110,530 | +€357,050 | +47.4% |
| Debt charges | 650 | €325,133 | €553,292 | +€228,159 | +70.2% |
| Other financial charges | 652/9 | €428,347 | €557,239 | +€128,892 | +30.1% |
| Non-recurring financial charges | 66B | - | €100 | +€100 | |
| Profit (loss) for the period before taxes | 9903 | €27,941,288 | €22,980,607 | -€5.0m | -17.8% |
| Income taxes | 67/77 | €9,142,594 | €7,403,935 | -€1.7m | -19.0% |
| Taxes | 670/3 | €9,142,594 | €7,403,935 | -€1.7m | -19.0% |
| Profit (loss) for the period | 9904 | €18,798,694 | €15,576,672 | -€3.2m | -17.1% |
| Transfer from tax-exempt reserves | 789 | €1,999,750 | - | -€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €20,798,444 | €15,576,672 | -€5.2m | -25.1% |
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 1 October 2026 via checked.be.