EQUATOR BELGIUM: 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.
EQUATOR BELGIUM
Largest movements
- Receivables within one year -€102,951
down €102,951 (-85.3%), from €120,639 to €17,687
- Financial fixed assets -€99,000
down €99,000 (-99.0%), from €100,000 to €1,000
- Tangible fixed assets -€22,465
down €22,465 (-33.3%), from €67,396 to €44,931
- Cash -€11,397
down €11,397 (-49.4%), from €23,062 to €11,665
mainly Net result for the year (-€156,239) and Advances received (-€37,639)
- Profit (loss) carried forward -€156,239
down €156,239 (-11.9%), from -€1.3m to -€1.5m
- Advances received -€37,639
down €37,639 (-63.8%), from €59,038 to €21,399
- Other debts -€25,207
down €25,207 (-23.7%), from €106,500 to €81,293
- Trade debts -€16,967
down €16,967 (-93.8%), from €18,082 to €1,115
- Financial charges -€3.4m
down €3.4m (-97.1%), from €3.5m to €99,444
of which Non-recurring financial charges: -€3.4m
- Financial income -€3.0m
down €3.0m (-100.0%), from €3.0m to €216
of which Non-recurring financial income: -€3.0m
- Gross operating margin -€123,940
down €123,940, from €93,034 to -€30,906
- Depreciation -€984
down €984 (-4.2%), from €23,449 to €22,465
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 | €311,096 | €75,283 | -€235,814 | -75.8% |
| Fixed assets | 21/28 | €167,396 | €45,931 | -€121,465 | -72.6% |
| Tangible fixed assets | 22/27 | €67,396 | €44,931 | -€22,465 | -33.3% |
| Furniture and vehicles | 24 | €67,396 | €44,931 | -€22,465 | -33.3% |
| Financial fixed assets | 28 | €100,000 | €1,000 | -€99,000 | -99.0% |
| Current assets | 29/58 | €143,701 | €29,352 | -€114,349 | -79.6% |
| Amounts receivable within one year | 40/41 | €120,639 | €17,687 | -€102,951 | -85.3% |
| Trade receivables | 40 | €120,639 | €17,687 | -€102,951 | -85.3% |
| Cash at bank and in hand | 54/58 | €23,062 | €11,665 | -€11,397 | -49.4% |
| Total equity and liabilities | 10/49 | €311,096 | €75,283 | -€235,814 | -75.8% |
| Equity | 10/15 | -€1,206,209 | -€1,362,448 | -€156,239 | -13.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €11,683 | €11,683 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,683 | €11,683 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,683 | €11,683 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,317,892 | -€1,474,131 | -€156,239 | -11.9% |
| Amounts payable | 17/49 | €1,517,305 | €1,437,730 | -€79,575 | -5.2% |
| Amounts payable after more than one year | 17 | €1,322,994 | €1,322,994 | = | 0.0% |
| Financial debts | 170/4 | €1,322,994 | €1,322,994 | = | 0.0% |
| Amounts payable within one year | 42/48 | €194,311 | €114,736 | -€79,575 | -41.0% |
| Trade debts | 44 | €18,082 | €1,115 | -€16,967 | -93.8% |
| Suppliers | 440/4 | €18,082 | €1,115 | -€16,967 | -93.8% |
| Advances received on contracts in progress | 46 | €59,038 | €21,399 | -€37,639 | -63.8% |
| Taxes, remuneration and social security | 45 | €10,691 | €10,930 | +€239 | +2.2% |
| Taxes | 450/3 | €10,691 | €10,930 | +€239 | +2.2% |
| Other amounts payable | 47/48 | €106,500 | €81,293 | -€25,207 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,449 | €22,465 | -€984 | -4.2% |
| Other operating charges | 640/8 | €2,667 | €2,192 | -€475 | -17.8% |
| Gross operating margin | 9900 | €93,034 | -€30,906 | -€123,940 | |
| Operating profit (loss) | 9901 | €66,918 | -€55,563 | -€122,481 | |
| Financial income | 75/76B | €2,990,618 | €216 | -€3.0m | -100.0% |
| Recurring financial income | 75 | €618 | €216 | -€402 | -65.0% |
| Non-recurring financial income | 76B | €2,990,000 | - | -€3.0m | |
| Financial charges | 65/66B | €3,486,889 | €99,444 | -€3.4m | -97.1% |
| Recurring financial charges | 65 | €13,506 | €444 | -€13,062 | -96.7% |
| Non-recurring financial charges | 66B | €3,473,384 | €99,000 | -€3.4m | -97.1% |
| Profit (loss) for the period before taxes | 9903 | -€429,354 | -€154,791 | +€274,563 | +63.9% |
| Income taxes | 67/77 | €1,581 | €1,448 | -€133 | -8.4% |
| Profit (loss) for the period | 9904 | -€430,935 | -€156,239 | +€274,696 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€430,935 | -€156,239 | +€274,696 | +63.7% |
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 25 October 2026 via checked.be.