EUSCO: 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.
EUSCO
Largest movements
- Cash -€233,227
down €233,227 (-74.5%), from €312,990 to €79,763
mainly Receivables after one year (-€231,000) and Accrued charges and deferred income (-€121,250)
- Receivables after one year +€231,000
up €231,000 (+46.8%), from €494,000 to €725,000
- Tangible fixed assets -€59,260
down €59,260 (-13.7%), from €431,421 to €372,161
of which Plant, machinery and equipment: -€53,830
- Intangible fixed assets -€34,253
down €34,253 (-39.2%), from €87,451 to €53,198
- Short-term financial debts +€170,763
new in 2025: €170,763
- Accrued charges and deferred income -€121,250
down €121,250 (-72.9%), from €166,246 to €44,996
- Trade debts -€105,890
down €105,890 (-12.5%), from €849,032 to €743,142
- Profit (loss) carried forward +€85,053
up €85,053 (+27.0%), from €315,531 to €400,584
- Debts after one year -€72,207
down €72,207 (-46.1%), from €156,511 to €84,304
- Gross operating margin +€134,965
up €134,965 (+12.9%), from €1.0m to €1.2m
- Staff costs +€101,121
up €101,121 (+14.4%), from €701,957 to €803,078
- Depreciation +€12,246
up €12,246 (+8.7%), from €140,881 to €153,127
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 | €2,195,817 | €2,102,786 | -€93,031 | -4.2% |
| Fixed assets | 21/28 | €524,322 | €430,809 | -€93,513 | -17.8% |
| Intangible fixed assets | 21 | €87,451 | €53,198 | -€34,253 | -39.2% |
| Tangible fixed assets | 22/27 | €431,421 | €372,161 | -€59,260 | -13.7% |
| Plant, machinery and equipment | 23 | €411,189 | €357,358 | -€53,830 | -13.1% |
| Leasing and similar rights | 25 | €20,232 | €14,803 | -€5,430 | -26.8% |
| Financial fixed assets | 28 | €5,450 | €5,450 | = | 0.0% |
| Current assets | 29/58 | €1,671,495 | €1,671,977 | +€482 | 0.0% |
| Amounts receivable after more than one year | 29 | €494,000 | €725,000 | +€231,000 | +46.8% |
| Other amounts receivable | 291 | €494,000 | €725,000 | +€231,000 | +46.8% |
| Stocks and contracts in progress | 3 | €774,991 | €786,940 | +€11,950 | +1.5% |
| Stocks | 30/36 | €774,991 | €786,940 | +€11,950 | +1.5% |
| Amounts receivable within one year | 40/41 | €74,015 | €62,974 | -€11,041 | -14.9% |
| Trade receivables | 40 | €31,867 | €27,185 | -€4,682 | -14.7% |
| Other amounts receivable | 41 | €42,147 | €35,789 | -€6,359 | -15.1% |
| Cash at bank and in hand | 54/58 | €312,990 | €79,763 | -€233,227 | -74.5% |
| Deferred charges and accrued income | 490/1 | €15,500 | €17,300 | +€1,800 | +11.6% |
| Total equity and liabilities | 10/49 | €2,195,817 | €2,102,786 | -€93,031 | -4.2% |
| Equity | 10/15 | €741,658 | €831,187 | +€89,530 | +12.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €26,127 | €30,604 | +€4,476 | +17.1% |
| Non-distributable reserves | 130/1 | €26,127 | €30,604 | +€4,476 | +17.1% |
| Legal reserve | 130 | €26,127 | €30,604 | +€4,476 | +17.1% |
| Profit (loss) carried forward | 14 | €315,531 | €400,584 | +€85,053 | +27.0% |
| Amounts payable | 17/49 | €1,454,159 | €1,271,599 | -€182,560 | -12.6% |
| Amounts payable after more than one year | 17 | €156,511 | €84,304 | -€72,207 | -46.1% |
| Financial debts | 170/4 | €156,511 | €84,304 | -€72,207 | -46.1% |
| Amounts payable within one year | 42/48 | €1,131,402 | €1,142,299 | +€10,897 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €126,772 | €72,207 | -€54,565 | -43.0% |
| Financial debts | 43 | - | €170,763 | +€170,763 | |
| Credit institutions | 430/8 | - | €170,763 | +€170,763 | |
| Trade debts | 44 | €849,032 | €743,142 | -€105,890 | -12.5% |
| Suppliers | 440/4 | €849,032 | €743,142 | -€105,890 | -12.5% |
| Taxes, remuneration and social security | 45 | €144,270 | €146,128 | +€1,858 | +1.3% |
| Taxes | 450/3 | €39,403 | €42,879 | +€3,476 | +8.8% |
| Remuneration and social security | 454/9 | €104,867 | €103,249 | -€1,619 | -1.5% |
| Other amounts payable | 47/48 | €11,327 | €10,059 | -€1,268 | -11.2% |
| Accrued charges and deferred income | 492/3 | €166,246 | €44,996 | -€121,250 | -72.9% |
| Non-recurring operating income | 76A | €756 | €0 | -€756 | -100.0% |
| Remuneration, social security and pensions | 62 | €701,957 | €803,078 | +€101,121 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,881 | €153,127 | +€12,246 | +8.7% |
| Other operating charges | 640/8 | €43,561 | €40,450 | -€3,112 | -7.1% |
| Non-recurring operating charges | 66A | €0 | €7,204 | +€7,204 | |
| Gross operating margin | 9900 | €1,048,154 | €1,183,119 | +€134,965 | +12.9% |
| Operating profit (loss) | 9901 | €161,755 | €179,260 | +€17,506 | +10.8% |
| Financial income | 75/76B | €1,422 | €4,616 | +€3,195 | +224.7% |
| Recurring financial income | 75 | €1,422 | €4,616 | +€3,195 | +224.7% |
| Financial charges | 65/66B | €52,950 | €54,793 | +€1,843 | +3.5% |
| Recurring financial charges | 65 | €52,950 | €54,793 | +€1,843 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €110,226 | €129,084 | +€18,858 | +17.1% |
| Income taxes | 67/77 | €33,770 | €39,554 | +€5,784 | +17.1% |
| Profit (loss) for the period | 9904 | €76,456 | €89,530 | +€13,073 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €76,456 | €89,530 | +€13,073 | +17.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.