Eurag: 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.
Eurag
Largest movements
- Receivables within one year +€5,660
up €5,660 (+556.5%), from €1,017 to €6,678
of which Other amounts receivable: +€5,213
- Cash -€4,946
down €4,946 (-63.5%), from €7,783 to €2,837
mainly Debts after one year (-€24,000) and Investment in fixed assets (net) (-€9,469)
- Tangible fixed assets -€4,720
down €4,720 (-8.5%), from €55,701 to €50,981
of which Plant, machinery and equipment: -€3,062
- Deferred charges and accrued income +€1,211
up €1,211 (+59.8%), from €2,024 to €3,235
- Debts after one year -€24,000
down €24,000 (-17.3%), from €139,000 to €115,000
- Profit (loss) carried forward +€12,226
up €12,226 (+8.3%), from -€147,855 to -€135,629
- Trade debts +€8,212
up €8,212 (+364.2%), from €2,255 to €10,466
- Gross operating margin +€1,777
up €1,777 (+6.3%), from €28,218 to €29,995
- Depreciation +€1,297
up €1,297 (+9.6%), from €13,511 to €14,808
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 | €67,443 | €64,030 | -€3,413 | -5.1% |
| Fixed assets | 21/28 | €56,619 | €51,281 | -€5,339 | -9.4% |
| Intangible fixed assets | 21 | €671 | €52 | -€619 | -92.3% |
| Tangible fixed assets | 22/27 | €55,701 | €50,981 | -€4,720 | -8.5% |
| Plant, machinery and equipment | 23 | €19,827 | €16,765 | -€3,062 | -15.4% |
| Furniture and vehicles | 24 | €824 | €275 | -€550 | -66.7% |
| Other tangible fixed assets | 26 | €35,050 | €33,942 | -€1,108 | -3.2% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €10,824 | €12,749 | +€1,925 | +17.8% |
| Amounts receivable within one year | 40/41 | €1,017 | €6,678 | +€5,660 | +556.5% |
| Trade receivables | 40 | - | €447 | +€447 | |
| Other amounts receivable | 41 | €1,017 | €6,231 | +€5,213 | +512.5% |
| Cash at bank and in hand | 54/58 | €7,783 | €2,837 | -€4,946 | -63.5% |
| Deferred charges and accrued income | 490/1 | €2,024 | €3,235 | +€1,211 | +59.8% |
| Total equity and liabilities | 10/49 | €67,443 | €64,030 | -€3,413 | -5.1% |
| Equity | 10/15 | -€80,182 | -€67,957 | +€12,226 | +15.2% |
| Contributions | 10/11 | €20,997 | €20,997 | = | 0.0% |
| Reserves | 13 | €46,676 | €46,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,541 | €1,541 | = | 0.0% |
| Distributable reserves | 133 | €45,135 | €45,135 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,855 | -€135,629 | +€12,226 | +8.3% |
| Amounts payable | 17/49 | €147,626 | €131,987 | -€15,639 | -10.6% |
| Amounts payable after more than one year | 17 | €139,000 | €115,000 | -€24,000 | -17.3% |
| Financial debts | 170/4 | €139,000 | €115,000 | -€24,000 | -17.3% |
| Amounts payable within one year | 42/48 | €8,626 | €16,987 | +€8,361 | +96.9% |
| Trade debts | 44 | €2,255 | €10,466 | +€8,212 | +364.2% |
| Suppliers | 440/4 | €2,255 | €10,466 | +€8,212 | +364.2% |
| Advances received on contracts in progress | 46 | €5,149 | €5,010 | -€139 | -2.7% |
| Taxes, remuneration and social security | 45 | €565 | €1,169 | +€604 | +106.9% |
| Taxes | 450/3 | €565 | €1,169 | +€604 | +106.9% |
| Other amounts payable | 47/48 | €657 | €342 | -€315 | -48.0% |
| Non-recurring operating income | 76A | €2,426 | €133 | -€2,293 | -94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,511 | €14,808 | +€1,297 | +9.6% |
| Other operating charges | 640/8 | €2,081 | €2,261 | +€181 | +8.7% |
| Gross operating margin | 9900 | €28,218 | €29,995 | +€1,777 | +6.3% |
| Operating profit (loss) | 9901 | €12,627 | €12,926 | +€299 | +2.4% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €40 | €46 | +€6 | +13.9% |
| Recurring financial charges | 65 | €40 | €46 | +€6 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €12,595 | €12,880 | +€286 | +2.3% |
| Income taxes | 67/77 | €514 | €655 | +€141 | +27.4% |
| Profit (loss) for the period | 9904 | €12,081 | €12,226 | +€145 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,081 | €12,226 | +€145 | +1.2% |
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 10 October 2026 via checked.be.