EV-TRADING: 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
EV-TRADING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€694,639
2024 · €639,489+€55,150
Equity
€2.1m
2024 · €1.4m+€720,468
Cash
€1.5m
2024 · €79,694+€1.5m
Balance sheet total
€7.4m
2024 · €6.9m+€535,618
Largest movements
Assets
- Cash +€1.5m
up €1.5m (+1,840%), from €79,694 to €1.5m
mainly Current investments (+€882,338) and Net result for the year (+€694,639)
- Current investments -€882,338
down €882,338 (-22.8%), from €3.9m to €3.0m
Equity and liabilities
- Reserves +€528,967
up €528,967 (+285%), from €185,429 to €714,396
of which Distributable reserves: +€385,881
- Profit (loss) carried forward +€191,501
up €191,501, from -€157,388 to €34,113
- Other debts -€163,723
down €163,723 (-3.0%), from €5.4m to €5.2m
Income statement
- Financial income +€753,757
up €753,757 (+796%), from €94,665 to €848,422
- Gross operating margin -€632,025
down €632,025 (-98.3%), from €643,090 to €11,065
- Financial charges +€79,014
up €79,014, from -€39,056 to €39,958
- Depreciation -€17,689
down €17,689 (-13.9%), from €127,200 to €109,511
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
€639,489
Gross operating margin
-€632,025
Depreciation
+€17,689
Other operating charges
+€4,140
Other operating items
-€2,974
Financial income
+€753,757
Financial charges
-€79,014
Taxes
-€5,676
Deferred taxes and other
-€748
Result 2025
€694,639
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
+€606,574
Investment
+€833,939
Financing
+€25,830
Cash 2024
€79,694
From operations (derived)
+€606,574
Net result for the year
+€694,639
Depreciation
+€109,511
Receivables within one year
-€12,760
Smaller working-capital items
+€1,516
Provisions
-€27,911
Tax, wage and social debts
+€5,304
Other debts
-€163,723
Investment (derived)
+€833,939
Investment in fixed assets (net)
-€48,398
Current investments
+€882,338
Financing
+€25,830
Contributions, distributions and other
+€25,830
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,850,878 | €7,386,496 | +€535,618 | +7.8% |
| Fixed assets | 21/28 | €2,863,352 | €2,802,239 | -€61,112 | -2.1% |
| Tangible fixed assets | 22/27 | €2,863,256 | €2,802,144 | -€61,112 | -2.1% |
| Land and buildings | 22 | €2,858,381 | €2,760,898 | -€97,483 | -3.4% |
| Plant, machinery and equipment | 23 | €3,130 | €0 | -€3,130 | -100% |
| Furniture and vehicles | 24 | €1,744 | €41,246 | +€39,501 | +2,265% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €3,987,527 | €4,584,257 | +€596,730 | +15.0% |
| Amounts receivable within one year | 40/41 | €23,658 | €36,418 | +€12,760 | +53.9% |
| Trade receivables | 40 | €2,241 | €2,179 | -€62 | -2.8% |
| Other amounts receivable | 41 | €21,417 | €34,239 | +€12,822 | +59.9% |
| Current investments | 50/53 | €3,874,416 | €2,992,078 | -€882,338 | -22.8% |
| Cash at bank and in hand | 54/58 | €79,694 | €1,546,038 | +€1.5m | +1,840% |
| Deferred charges and accrued income | 490/1 | €9,758 | €9,722 | -€36 | -0.4% |
| Total equity and liabilities | 10/49 | €6,850,878 | €7,386,496 | +€535,618 | +7.8% |
| Equity | 10/15 | €1,400,570 | €2,121,038 | +€720,468 | +51.4% |
| Contributions | 10/11 | €1,372,529 | €1,372,529 | = | 0.0% |
| Capital | 10 | €1,372,529 | €1,372,529 | = | 0.0% |
| Issued capital | 100 | €1,372,529 | €1,372,529 | = | 0.0% |
| Reserves | 13 | €185,429 | €714,396 | +€528,967 | +285% |
| Non-distributable reserves | 130/1 | €13,753 | €137,253 | +€123,500 | +898% |
| Legal reserve | 130 | €13,753 | €137,253 | +€123,500 | +898% |
| Tax-exempt reserves | 132 | €108,486 | €128,072 | +€19,586 | +18.1% |
| Distributable reserves | 133 | €63,190 | €449,071 | +€385,881 | +611% |
| Profit (loss) carried forward | 14 | -€157,388 | €34,113 | +€191,501 | |
| Provisions and deferred taxes | 16 | €55,862 | €27,951 | -€27,911 | -50.0% |
| Deferred taxes | 168 | €55,862 | €27,951 | -€27,911 | -50.0% |
| Amounts payable | 17/49 | €5,394,447 | €5,237,507 | -€156,939 | -2.9% |
| Amounts payable after more than one year | 17 | €1,200 | €1,200 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,393,247 | €5,236,307 | -€156,939 | -2.9% |
| Trade debts | 44 | €11,946 | €13,426 | +€1,480 | +12.4% |
| Suppliers | 440/4 | €11,946 | €13,426 | +€1,480 | +12.4% |
| Taxes, remuneration and social security | 45 | €1,835 | €7,139 | +€5,304 | +289% |
| Taxes | 450/3 | €1,835 | €7,139 | +€5,304 | +289% |
| Other amounts payable | 47/48 | €5,379,465 | €5,215,742 | -€163,723 | -3.0% |
| Non-recurring operating income | 76A | €697,593 | €0 | -€697,593 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,200 | €109,511 | -€17,689 | -13.9% |
| Other operating charges | 640/8 | €12,524 | €8,384 | -€4,140 | -33.1% |
| Non-recurring operating charges | 66A | €156 | €3,130 | +€2,974 | +1,902% |
| Gross operating margin | 9900 | €643,090 | €11,065 | -€632,025 | -98.3% |
| Operating profit (loss) | 9901 | €503,210 | -€109,960 | -€613,170 | |
| Financial income | 75/76B | €94,665 | €848,422 | +€753,757 | +796% |
| Recurring financial income | 75 | €94,665 | €848,422 | +€753,757 | +796% |
| Financial charges | 65/66B | -€39,056 | €39,958 | +€79,014 | |
| Recurring financial charges | 65 | -€39,056 | €39,958 | +€79,014 | |
| Profit (loss) for the period before taxes | 9903 | €636,930 | €698,504 | +€61,574 | +9.7% |
| Transfer from deferred taxes | 780 | €2,830 | €2,081 | -€748 | -26.4% |
| Income taxes | 67/77 | €271 | €5,947 | +€5,676 | +2,092% |
| Profit (loss) for the period | 9904 | €639,489 | €694,639 | +€55,150 | +8.6% |
| Transfer from tax-exempt reserves | 789 | €5,495 | €6,244 | +€748 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €644,984 | €700,882 | +€55,898 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.