Ewaco: 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.
Ewaco
Largest movements
- Current investments -€700,000
down €700,000 (-100%), from €700,000 to €0
- Cash -€54,488
down €54,488 (-37.9%), from €143,949 to €89,461
mainly Contributions, distributions and other (-€858,137) and Investment in fixed assets (net) (-€50,701)
- Contributions -€591,699
down €591,699 (-90.6%), from €653,199 to €61,500
- Profit (loss) carried forward -€252,422
down €252,422 (-21.4%), from €1.2m to €928,982
- Other debts +€160,818
up €160,818 (+2,912%), from €5,522 to €166,340
- Debts after one year -€32,829
down €32,829 (-11.9%), from €276,964 to €244,136
- Reserves -€30,300
down €30,300 (-47.6%), from €63,620 to €33,320
of which Non-distributable reserves: -€30,300
- Gross operating margin -€1.3m
down €1.3m (-95.9%), from €1.3m to €54,002
- Taxes -€278,984
down €278,984 (-99.2%), from €281,180 to €2,196
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,238,919 | €1,477,046 | -€761,873 | -34.0% |
| Fixed assets | 21/28 | €1,286,647 | €1,297,891 | +€11,244 | +0.9% |
| Tangible fixed assets | 22/27 | €1,212,588 | €1,223,832 | +€11,244 | +0.9% |
| Land and buildings | 22 | €1,201,650 | €1,204,890 | +€3,240 | +0.3% |
| Plant, machinery and equipment | 23 | €10,938 | €18,942 | +€8,004 | +73.2% |
| Financial fixed assets | 28 | €74,060 | €74,060 | = | 0.0% |
| Current assets | 29/58 | €952,272 | €179,155 | -€773,117 | -81.2% |
| Amounts receivable within one year | 40/41 | €108,323 | €89,694 | -€18,629 | -17.2% |
| Trade receivables | 40 | - | €602 | +€602 | |
| Other amounts receivable | 41 | €108,323 | €89,093 | -€19,230 | -17.8% |
| Current investments | 50/53 | €700,000 | €0 | -€700,000 | -100% |
| Cash at bank and in hand | 54/58 | €143,949 | €89,461 | -€54,488 | -37.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,238,919 | €1,477,046 | -€761,873 | -34.0% |
| Equity | 10/15 | €1,898,223 | €1,023,801 | -€874,421 | -46.1% |
| Contributions | 10/11 | €653,199 | €61,500 | -€591,699 | -90.6% |
| Capital | 10 | €653,199 | €61,500 | -€591,699 | -90.6% |
| Issued capital | 100 | €653,199 | €61,500 | -€591,699 | -90.6% |
| Reserves | 13 | €63,620 | €33,320 | -€30,300 | -47.6% |
| Non-distributable reserves | 130/1 | €36,450 | €6,150 | -€30,300 | -83.1% |
| Legal reserve | 130 | €36,450 | €6,150 | -€30,300 | -83.1% |
| Tax-exempt reserves | 132 | €27,170 | €27,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,181,404 | €928,982 | -€252,422 | -21.4% |
| Amounts payable | 17/49 | €340,696 | €453,245 | +€112,549 | +33.0% |
| Amounts payable after more than one year | 17 | €276,964 | €244,136 | -€32,829 | -11.9% |
| Financial debts | 170/4 | €276,964 | €244,136 | -€32,829 | -11.9% |
| Amounts payable within one year | 42/48 | €63,732 | €209,109 | +€145,377 | +228% |
| Current portion of amounts payable after more than one year | 42 | €38,971 | €32,829 | -€6,143 | -15.8% |
| Trade debts | 44 | €19,238 | €9,837 | -€9,401 | -48.9% |
| Suppliers | 440/4 | €19,238 | €9,837 | -€9,401 | -48.9% |
| Taxes, remuneration and social security | 45 | - | €104 | +€104 | |
| Taxes | 450/3 | - | €104 | +€104 | |
| Other amounts payable | 47/48 | €5,522 | €166,340 | +€160,818 | +2,912% |
| Non-recurring operating income | 76A | €1,350,899 | €0 | -€1.4m | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,805 | €39,456 | -€8,349 | -17.5% |
| Other operating charges | 640/8 | €39,710 | €28,531 | -€11,180 | -28.2% |
| Gross operating margin | 9900 | €1,305,162 | €54,002 | -€1.3m | -95.9% |
| Operating profit (loss) | 9901 | €1,217,647 | -€13,985 | -€1.2m | |
| Financial income | 75/76B | €9,172 | €7,037 | -€2,135 | -23.3% |
| Recurring financial income | 75 | €9,172 | €7,037 | -€2,135 | -23.3% |
| Financial charges | 65/66B | €372 | €7,142 | +€6,770 | +1,821% |
| Recurring financial charges | 65 | €372 | €7,142 | +€6,770 | +1,821% |
| Profit (loss) for the period before taxes | 9903 | €1,226,447 | -€14,089 | -€1.2m | |
| Income taxes | 67/77 | €281,180 | €2,196 | -€278,984 | -99.2% |
| Profit (loss) for the period | 9904 | €945,267 | -€16,285 | -€961,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €945,267 | -€16,285 | -€961,552 |
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 16 October 2026 via checked.be.