EUZEO: 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.
EUZEO
Largest movements
- Cash -€14,155
down €14,155 (-23.5%), from €60,261 to €46,106
mainly Contributions, distributions and other (-€79,000) and Investment in fixed assets (net) (-€11,600)
- Receivables within one year -€13,084
down €13,084 (-32.9%), from €39,830 to €26,745
of which Trade receivables: -€12,455
- Tangible fixed assets +€1,397
up €1,397 (+7.2%), from €19,293 to €20,691
of which Other tangible fixed assets: +€9,516
- Reserves -€28,000
down €28,000 (-34.6%), from €81,000 to €53,000
- Tax, wage and social debts -€4,581
down €4,581 (-14.4%), from €31,762 to €27,182
of which Taxes: -€4,394
- Other debts +€4,030
new in 2025: €4,030
- Trade debts +€1,983
up €1,983 (+285.9%), from €694 to €2,677
- Gross operating margin +€8,710
up €8,710 (+12.7%), from €68,426 to €77,136
- Taxes +€1,759
up €1,759 (+13.2%), from €13,323 to €15,081
- Financial income -€1,614
down €1,614 (-67.3%), from €2,399 to €785
- Depreciation +€772
up €772 (+8.2%), from €9,431 to €10,203
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 | €121,671 | €95,430 | -€26,242 | -21.6% |
| Fixed assets | 21/28 | €19,293 | €20,691 | +€1,397 | +7.2% |
| Tangible fixed assets | 22/27 | €19,293 | €20,691 | +€1,397 | +7.2% |
| Plant, machinery and equipment | 23 | €6,140 | €3,024 | -€3,115 | -50.7% |
| Furniture and vehicles | 24 | €11,781 | €6,778 | -€5,003 | -42.5% |
| Other tangible fixed assets | 26 | €1,373 | €10,888 | +€9,516 | +693.3% |
| Current assets | 29/58 | €102,378 | €74,739 | -€27,639 | -27.0% |
| Amounts receivable within one year | 40/41 | €39,830 | €26,745 | -€13,084 | -32.9% |
| Trade receivables | 40 | €25,728 | €13,272 | -€12,455 | -48.4% |
| Other amounts receivable | 41 | €14,102 | €13,473 | -€629 | -4.5% |
| Cash at bank and in hand | 54/58 | €60,261 | €46,106 | -€14,155 | -23.5% |
| Deferred charges and accrued income | 490/1 | €2,287 | €1,888 | -€400 | -17.5% |
| Total equity and liabilities | 10/49 | €121,671 | €95,430 | -€26,242 | -21.6% |
| Equity | 10/15 | €89,216 | €61,541 | -€27,674 | -31.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,000 | €53,000 | -€28,000 | -34.6% |
| Distributable reserves | 133 | €81,000 | €53,000 | -€28,000 | -34.6% |
| Profit (loss) carried forward | 14 | €3,216 | €3,541 | +€326 | +10.1% |
| Amounts payable | 17/49 | €32,456 | €33,888 | +€1,433 | +4.4% |
| Amounts payable within one year | 42/48 | €32,456 | €33,888 | +€1,433 | +4.4% |
| Trade debts | 44 | €694 | €2,677 | +€1,983 | +285.9% |
| Suppliers | 440/4 | €694 | €2,677 | +€1,983 | +285.9% |
| Taxes, remuneration and social security | 45 | €31,762 | €27,182 | -€4,581 | -14.4% |
| Taxes | 450/3 | €31,576 | €27,182 | -€4,394 | -13.9% |
| Remuneration and social security | 454/9 | €186 | - | -€186 | |
| Other amounts payable | 47/48 | - | €4,030 | +€4,030 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,431 | €10,203 | +€772 | +8.2% |
| Other operating charges | 640/8 | €987 | €840 | -€147 | -14.9% |
| Gross operating margin | 9900 | €68,426 | €77,136 | +€8,710 | +12.7% |
| Operating profit (loss) | 9901 | €58,008 | €66,093 | +€8,086 | +13.9% |
| Financial income | 75/76B | €2,399 | €785 | -€1,614 | -67.3% |
| Recurring financial income | 75 | €2,399 | €785 | -€1,614 | -67.3% |
| Financial charges | 65/66B | €757 | €472 | -€285 | -37.7% |
| Recurring financial charges | 65 | €757 | €472 | -€285 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €59,650 | €66,407 | +€6,757 | +11.3% |
| Income taxes | 67/77 | €13,323 | €15,081 | +€1,759 | +13.2% |
| Profit (loss) for the period | 9904 | €46,327 | €51,326 | +€4,999 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,327 | €51,326 | +€4,999 | +10.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.