EUROCIRCUITS: 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.
What changed
EUROCIRCUITS
NACE 26.120, Manufacture of computer, electronic and optical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5.4m
2024 · €4.6m+€858,194
Equity
€20.1m
2024 · €18.7m+€1.4m
Cash
€7.7m
2024 · €3.8m+€3.9m
Balance sheet total
€24.6m
2024 · €21.2m+€3.4m
Largest movements
Assets
- Cash +€3.9m
up €3.9m (+101%), from €3.8m to €7.7m
mainly Net result for the year (+€5.4m) and Receivables after one year (+€1.9m)
- Receivables after one year -€1.9m
no longer reported in 2025 (was €1.9m)
- Financial fixed assets +€1.9m
up €1.9m (+17.0%), from €11.1m to €13.0m
- Current investments -€497,150
down €497,150 (-100%), from €497,150 to €0
Equity and liabilities
- Trade debts +€1.7m
up €1.7m (+85.6%), from €2.0m to €3.7m
- Reserves +€1.4m
up €1.4m (+8.5%), from €16.8m to €18.2m
of which Distributable reserves: +€1.4m
Income statement
- Turnover +€6.7m
up €6.7m (+19.2%), from €34.7m to €41.4m
- Goods and materials +€5.9m
up €5.9m (+19.6%), from €29.9m to €35.7m
- Financial income +€539,002
up €539,002 (+18.7%), from €2.9m to €3.4m
of which Financial income: +€590,538
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
€4.6m
Turnover
+€6.7m
Other operating income
-€105,383
Goods and materials
-€5.9m
Services and other goods
-€336,236
Staff costs
-€43,552
Depreciation
+€51,791
Write-downs
+€34,968
Provisions
-€12,439
Other operating charges
+€38,312
Other operating items
-€12,217
Financial income
+€539,002
Financial charges
-€26,764
Taxes
-€89,637
Result 2025
€5.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.5m
Investment
-€1.6m
Financing
-€4.0m
Cash 2024
€3.8m
From operations (derived)
+€9.5m
Net result for the year
+€5.4m
Depreciation
+€248,880
Receivables after one year
+€1.9m
Receivables within one year
-€95,723
Deferred charges and accrued income
+€40,051
Provisions
+€33,910
Trade debts
+€1.7m
Tax, wage and social debts
+€19,542
Advances received
+€220,988
Other debts
+€41,556
Accrued charges and deferred income
-€43,342
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€2.1m
Current investments
+€497,150
Financing
-€4.0m
Contributions, distributions and other
-€4.0m
Cash 2025
€7.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,243,388 | €24,629,505 | +€3.4m | +15.9% |
| Fixed assets | 21/28 | €11,883,357 | €13,756,919 | +€1.9m | +15.8% |
| Intangible fixed assets | 21 | €344,389 | €340,753 | -€3,636 | -1.1% |
| Tangible fixed assets | 22/27 | €438,401 | €424,328 | -€14,073 | -3.2% |
| Land and buildings | 22 | €353,580 | €346,882 | -€6,697 | -1.9% |
| Plant, machinery and equipment | 23 | €47,946 | €39,048 | -€8,898 | -18.6% |
| Furniture and vehicles | 24 | €36,876 | €38,398 | +€1,522 | +4.1% |
| Financial fixed assets | 28 | €11,100,567 | €12,991,838 | +€1.9m | +17.0% |
| Affiliated companies | 280/1 | €11,100,567 | €12,991,838 | +€1.9m | +17.0% |
| Participating interests | 280 | €11,100,567 | €11,100,567 | = | 0.0% |
| Amounts receivable | 281 | - | €1,891,271 | +€1.9m | |
| Current assets | 29/58 | €9,360,031 | €10,872,586 | +€1.5m | +16.2% |
| Amounts receivable after more than one year | 29 | €1,913,248 | - | -€1.9m | |
| Other amounts receivable | 291 | €1,913,248 | - | -€1.9m | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,933,476 | €3,029,199 | +€95,723 | +3.3% |
| Trade receivables | 40 | €2,816,475 | €2,930,406 | +€113,931 | +4.0% |
| Other amounts receivable | 41 | €117,001 | €98,793 | -€18,208 | -15.6% |
| Current investments | 50/53 | €497,150 | €0 | -€497,150 | -100% |
| Other investments | 51/53 | €497,150 | €0 | -€497,150 | -100% |
| Cash at bank and in hand | 54/58 | €3,818,798 | €7,686,078 | +€3.9m | +101% |
| Deferred charges and accrued income | 490/1 | €197,360 | €157,309 | -€40,051 | -20.3% |
| Total equity and liabilities | 10/49 | €21,243,388 | €24,629,505 | +€3.4m | +15.9% |
| Equity | 10/15 | €18,672,402 | €20,101,582 | +€1.4m | +7.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,609,100 | €1,609,100 | = | 0.0% |
| Reserves | 13 | €16,813,302 | €18,242,482 | +€1.4m | +8.5% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €16,788,302 | €18,217,482 | +€1.4m | +8.5% |
| Provisions and deferred taxes | 16 | €172,516 | €206,426 | +€33,910 | +19.7% |
| Provisions for liabilities and charges | 160/5 | €172,516 | €206,426 | +€33,910 | +19.7% |
| Other liabilities and charges | 164/5 | €172,516 | €206,426 | +€33,910 | +19.7% |
| Amounts payable | 17/49 | €2,398,470 | €4,321,497 | +€1.9m | +80.2% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,273,648 | €4,240,017 | +€2.0m | +86.5% |
| Trade debts | 44 | €1,967,845 | €3,652,127 | +€1.7m | +85.6% |
| Suppliers | 440/4 | €1,967,845 | €3,652,127 | +€1.7m | +85.6% |
| Advances received on contracts in progress | 46 | €32,012 | €253,001 | +€220,988 | +690% |
| Taxes, remuneration and social security | 45 | €239,050 | €258,593 | +€19,542 | +8.2% |
| Taxes | 450/3 | €141,180 | €147,615 | +€6,435 | +4.6% |
| Remuneration and social security | 454/9 | €97,870 | €110,978 | +€13,108 | +13.4% |
| Other amounts payable | 47/48 | €34,740 | €76,296 | +€41,556 | +120% |
| Accrued charges and deferred income | 492/3 | €64,822 | €21,480 | -€43,342 | -66.9% |
| Operating income | 70/76A | €34,896,916 | €41,463,121 | +€6.6m | +18.8% |
| Turnover | 70 | €34,746,665 | €41,418,254 | +€6.7m | +19.2% |
| Other operating income | 74 | €150,251 | €44,868 | -€105,383 | -70.1% |
| Operating charges | 60/66A | €32,523,566 | €38,654,179 | +€6.1m | +18.8% |
| Goods for resale, raw materials and consumables | 60 | €29,898,697 | €35,749,937 | +€5.9m | +19.6% |
| Purchases | 600/8 | €29,898,697 | €35,749,937 | +€5.9m | +19.6% |
| Services and other goods | 61 | €1,521,008 | €1,857,245 | +€336,236 | +22.1% |
| Remuneration, social security and pensions | 62 | €685,970 | €729,522 | +€43,552 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300,671 | €248,880 | -€51,791 | -17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,968 | €0 | -€34,968 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €21,472 | €33,910 | +€12,439 | +57.9% |
| Other operating charges | 640/8 | €60,780 | €22,468 | -€38,312 | -63.0% |
| Non-recurring operating charges | 66A | - | €12,217 | +€12,217 | |
| Operating profit (loss) | 9901 | €2,373,349 | €2,808,942 | +€435,593 | +18.4% |
| Financial income | 75/76B | €2,882,817 | €3,421,818 | +€539,002 | +18.7% |
| Recurring financial income | 75 | €2,831,281 | €3,421,818 | +€590,538 | +20.9% |
| Income from financial fixed assets | 750 | €2,729,618 | €3,300,000 | +€570,382 | +20.9% |
| Income from current assets | 751 | €101,455 | €121,767 | +€20,312 | +20.0% |
| Other financial income | 752/9 | €208 | €51 | -€157 | -75.4% |
| Non-recurring financial income | 76B | €51,536 | €0 | -€51,536 | -100% |
| Financial charges | 65/66B | €69,966 | €96,730 | +€26,764 | +38.3% |
| Recurring financial charges | 65 | €69,966 | €96,730 | +€26,764 | +38.3% |
| Other financial charges | 652/9 | €69,966 | €96,730 | +€26,764 | +38.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €5,186,201 | €6,134,031 | +€947,831 | +18.3% |
| Income taxes | 67/77 | €615,214 | €704,851 | +€89,637 | +14.6% |
| Taxes | 670/3 | €615,287 | €705,019 | +€89,733 | +14.6% |
| Tax adjustments and reversals of tax provisions | 77 | €73 | €168 | +€96 | +132% |
| Profit (loss) for the period | 9904 | €4,570,987 | €5,429,180 | +€858,194 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,570,987 | €5,429,180 | +€858,194 | +18.8% |
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 20 October 2026 via checked.be.