EUSSA: what changed
EUSSA
Largest movements
- Current investments -€1.5m
down €1.5m (-72.5%), from €2.0m to €553,200
- Financial fixed assets +€1.0m
up €1.0m (+304%), from €329,189 to €1.3m
- Intangible fixed assets -€411,716
down €411,716 (-50.0%), from €823,433 to €411,716
- Receivables within one year +€285,993
up €285,993 (+14.9%), from €1.9m to €2.2m
of which Other amounts receivable: +€360,180
- Cash -€99,427
down €99,427 (-47.4%), from €209,909 to €110,482
mainly Investment in fixed assets (net) (-€1.0m) and Net result for the year (-€559,131)
- Profit (loss) carried forward -€559,131
down €559,131 (-2.4%), from -€23.4m to -€24.0m
- Other debts -€239,544
down €239,544 (-26.7%), from €897,037 to €657,493
- Short-term financial debts +€56,602
new in 2025: €56,602
- Depreciation -€1.6m
down €1.6m (-79.3%), from €2.1m to €425,084
- Financial income -€888,090
down €888,090 (-76.3%), from €1.2m to €276,385
of which Non-recurring financial income: -€996,098
- Financial charges +€336,726
up €336,726 (+4,338%), from €7,762 to €344,488
- Gross operating margin +€194,399
up €194,399, from -€183,971 to €10,428
- Other operating charges +€74,242
up €74,242 (+3,780%), from €1,964 to €76,206
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,479,771 | €4,787,518 | -€692,253 | -12.6% |
| Fixed assets | 21/28 | €1,330,953 | €1,906,666 | +€575,714 | +43.3% |
| Intangible fixed assets | 21 | €823,433 | €411,716 | -€411,716 | -50.0% |
| Tangible fixed assets | 22/27 | €178,331 | €165,761 | -€12,570 | -7.0% |
| Furniture and vehicles | 24 | €31,018 | €18,448 | -€12,570 | -40.5% |
| Other tangible fixed assets | 26 | €147,313 | €147,313 | = | 0.0% |
| Financial fixed assets | 28 | €329,189 | €1,329,189 | +€1.0m | +304% |
| Current assets | 29/58 | €4,148,818 | €2,880,851 | -€1.3m | -30.6% |
| Stocks and contracts in progress | 3 | - | €5,972 | +€5,972 | |
| Stocks | 30/36 | - | €5,972 | +€5,972 | |
| Amounts receivable within one year | 40/41 | €1,924,119 | €2,210,112 | +€285,993 | +14.9% |
| Trade receivables | 40 | €426,881 | €352,694 | -€74,187 | -17.4% |
| Other amounts receivable | 41 | €1,497,238 | €1,857,417 | +€360,180 | +24.1% |
| Current investments | 50/53 | €2,013,429 | €553,200 | -€1.5m | -72.5% |
| Cash at bank and in hand | 54/58 | €209,909 | €110,482 | -€99,427 | -47.4% |
| Deferred charges and accrued income | 490/1 | €1,361 | €1,086 | -€275 | -20.2% |
| Total equity and liabilities | 10/49 | €5,479,771 | €4,787,518 | -€692,253 | -12.6% |
| Equity | 10/15 | €4,569,208 | €4,010,077 | -€559,131 | -12.2% |
| Contributions | 10/11 | €28,000,000 | €28,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,430,792 | -€23,989,923 | -€559,131 | -2.4% |
| Amounts payable | 17/49 | €910,563 | €777,441 | -€133,122 | -14.6% |
| Amounts payable within one year | 42/48 | €907,729 | €775,373 | -€132,356 | -14.6% |
| Financial debts | 43 | - | €56,602 | +€56,602 | |
| Credit institutions | 430/8 | - | €56,602 | +€56,602 | |
| Trade debts | 44 | €10,692 | €60,265 | +€49,573 | +464% |
| Suppliers | 440/4 | €10,692 | €60,265 | +€49,573 | +464% |
| Taxes, remuneration and social security | 45 | - | €1,013 | +€1,013 | |
| Taxes | 450/3 | - | €1,013 | +€1,013 | |
| Other amounts payable | 47/48 | €897,037 | €657,493 | -€239,544 | -26.7% |
| Accrued charges and deferred income | 492/3 | €2,834 | €2,068 | -€766 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,053,053 | €425,084 | -€1.6m | -79.3% |
| Other operating charges | 640/8 | €1,964 | €76,206 | +€74,242 | +3,780% |
| Non-recurring operating charges | 66A | €448 | - | -€448 | |
| Gross operating margin | 9900 | -€183,971 | €10,428 | +€194,399 | |
| Operating profit (loss) | 9901 | -€2,239,435 | -€490,862 | +€1.7m | +78.1% |
| Financial income | 75/76B | €1,164,475 | €276,385 | -€888,090 | -76.3% |
| Recurring financial income | 75 | €168,377 | €276,385 | +€108,008 | +64.1% |
| Non-recurring financial income | 76B | €996,098 | - | -€996,098 | |
| Financial charges | 65/66B | €7,762 | €344,488 | +€336,726 | +4,338% |
| Recurring financial charges | 65 | €7,762 | €344,488 | +€336,726 | +4,338% |
| Profit (loss) for the period before taxes | 9903 | -€1,082,723 | -€558,966 | +€523,757 | +48.4% |
| Income taxes | 67/77 | €170 | €165 | -€5 | -2.8% |
| Profit (loss) for the period | 9904 | -€1,082,892 | -€559,131 | +€523,761 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,082,892 | -€559,131 | +€523,761 | +48.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.