EQUINO: 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.
EQUINO
Largest movements
- Tangible fixed assets -€42,698
down €42,698 (-15.6%), from €274,180 to €231,482
of which Furniture and vehicles: -€40,561
- Cash -€26,059
down €26,059 (-40.5%), from €64,363 to €38,305
mainly Trade debts (-€128,612) and Debts after one year (-€30,716)
- Stocks and contracts +€12,040
up €12,040 (+1.5%), from €821,790 to €833,830
- Trade debts -€128,612
down €128,612 (-83.0%), from €154,964 to €26,351
- Reserves +€87,750
up €87,750 (+70.7%), from €124,052 to €211,802
of which Distributable reserves: +€89,610
- Tax, wage and social debts +€45,275
up €45,275 (+105.7%), from €42,822 to €88,097
of which Taxes: +€41,669
- Debts after one year -€30,716
down €30,716 (-14.8%), from €207,427 to €176,711
- Current portion of long-term debt -€27,571
down €27,571 (-47.3%), from €58,288 to €30,716
- Staff costs +€59,491
up €59,491 (+100.4%), from €59,228 to €118,719
- Gross operating margin +€21,383
up €21,383 (+7.7%), from €276,880 to €298,262
- Write-downs -€13,200
new in 2025: -€13,200
- Depreciation +€12,441
up €12,441 (+41.1%), from €30,257 to €42,698
- Financial charges -€8,804
down €8,804 (-34.8%), from €25,326 to €16,523
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 | €1,165,384 | €1,104,603 | -€60,781 | -5.2% |
| Fixed assets | 21/28 | €275,166 | €232,468 | -€42,698 | -15.5% |
| Tangible fixed assets | 22/27 | €274,180 | €231,482 | -€42,698 | -15.6% |
| Land and buildings | 22 | €139,077 | €139,077 | = | 0.0% |
| Plant, machinery and equipment | 23 | €616 | - | -€616 | |
| Furniture and vehicles | 24 | €131,294 | €90,733 | -€40,561 | -30.9% |
| Other tangible fixed assets | 26 | €3,194 | €1,672 | -€1,522 | -47.6% |
| Financial fixed assets | 28 | €987 | €987 | = | 0.0% |
| Current assets | 29/58 | €890,217 | €872,135 | -€18,083 | -2.0% |
| Stocks and contracts in progress | 3 | €821,790 | €833,830 | +€12,040 | +1.5% |
| Stocks | 30/36 | €821,790 | €833,830 | +€12,040 | +1.5% |
| Amounts receivable within one year | 40/41 | €4,064 | - | -€4,064 | |
| Trade receivables | 40 | €4,064 | - | -€4,064 | |
| Cash at bank and in hand | 54/58 | €64,363 | €38,305 | -€26,059 | -40.5% |
| Total equity and liabilities | 10/49 | €1,165,384 | €1,104,603 | -€60,781 | -5.2% |
| Equity | 10/15 | €641,802 | €729,596 | +€87,794 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €124,052 | €211,802 | +€87,750 | +70.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €22,192 | €22,192 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €189,610 | +€89,610 | +89.6% |
| Profit (loss) carried forward | 14 | €499,150 | €499,195 | +€44 | 0.0% |
| Amounts payable | 17/49 | €523,582 | €375,007 | -€148,575 | -28.4% |
| Amounts payable after more than one year | 17 | €207,427 | €176,711 | -€30,716 | -14.8% |
| Financial debts | 170/4 | €207,427 | €176,711 | -€30,716 | -14.8% |
| Amounts payable within one year | 42/48 | €316,155 | €198,296 | -€117,859 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €58,288 | €30,716 | -€27,571 | -47.3% |
| Financial debts | 43 | €47,250 | €37,250 | -€10,000 | -21.2% |
| Credit institutions | 430/8 | €47,250 | - | -€47,250 | |
| Other loans | 439 | - | €37,250 | +€37,250 | |
| Trade debts | 44 | €154,964 | €26,351 | -€128,612 | -83.0% |
| Suppliers | 440/4 | €154,964 | €26,351 | -€128,612 | -83.0% |
| Taxes, remuneration and social security | 45 | €42,822 | €88,097 | +€45,275 | +105.7% |
| Taxes | 450/3 | €39,539 | €81,208 | +€41,669 | +105.4% |
| Remuneration and social security | 454/9 | €3,284 | €6,889 | +€3,606 | +109.8% |
| Other amounts payable | 47/48 | €12,831 | €15,881 | +€3,051 | +23.8% |
| Remuneration, social security and pensions | 62 | €59,228 | €118,719 | +€59,491 | +100.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,257 | €42,698 | +€12,441 | +41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€13,200 | -€13,200 | |
| Other operating charges | 640/8 | €5,423 | €2,164 | -€3,259 | -60.1% |
| Gross operating margin | 9900 | €276,880 | €298,262 | +€21,383 | +7.7% |
| Operating profit (loss) | 9901 | €181,972 | €147,881 | -€34,091 | -18.7% |
| Financial charges | 65/66B | €25,326 | €16,523 | -€8,804 | -34.8% |
| Recurring financial charges | 65 | €25,326 | €16,523 | -€8,804 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €156,646 | €131,359 | -€25,287 | -16.1% |
| Income taxes | 67/77 | €39,539 | €43,564 | +€4,026 | +10.2% |
| Profit (loss) for the period | 9904 | €117,107 | €87,794 | -€29,313 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €117,107 | €87,794 | -€29,313 | -25.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.