EWAL: 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.
EWAL
Largest movements
- Receivables within one year +€75,735
up €75,735 (+14.7%), from €516,571 to €592,305
of which Other amounts receivable: +€304,873
- Tangible fixed assets -€46,579
down €46,579 (-24.0%), from €194,000 to €147,421
of which Furniture and vehicles: -€37,726
- Profit (loss) carried forward +€60,103
up €60,103 (+13.7%), from €438,022 to €498,125
- Other debts -€16,138
down €16,138 (-94.5%), from €17,081 to €943
- Debts after one year -€14,413
down €14,413 (-64.3%), from €22,418 to €8,005
- Tax, wage and social debts +€11,862
up €11,862 (+33.9%), from €34,969 to €46,832
- Gross operating margin +€35,509
up €35,509 (+26.1%), from €136,257 to €171,766
- Taxes +€5,861
up €5,861 (+68.0%), from €8,622 to €14,484
- Depreciation +€5,439
up €5,439 (+6.2%), from €88,032 to €93,471
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 | €724,951 | €762,078 | +€37,127 | +5.1% |
| Fixed assets | 21/28 | €194,620 | €147,957 | -€46,663 | -24.0% |
| Tangible fixed assets | 22/27 | €194,000 | €147,421 | -€46,579 | -24.0% |
| Land and buildings | 22 | €27,696 | €27,696 | = | 0.0% |
| Plant, machinery and equipment | 23 | €86,728 | €77,874 | -€8,853 | -10.2% |
| Furniture and vehicles | 24 | €79,577 | €41,851 | -€37,726 | -47.4% |
| Financial fixed assets | 28 | €620 | €537 | -€83 | -13.5% |
| Current assets | 29/58 | €530,331 | €614,121 | +€83,789 | +15.8% |
| Amounts receivable within one year | 40/41 | €516,571 | €592,305 | +€75,735 | +14.7% |
| Trade receivables | 40 | €230,871 | €1,733 | -€229,138 | -99.2% |
| Other amounts receivable | 41 | €285,700 | €590,573 | +€304,873 | +106.7% |
| Cash at bank and in hand | 54/58 | €9,720 | €15,200 | +€5,481 | +56.4% |
| Deferred charges and accrued income | 490/1 | €4,041 | €6,615 | +€2,574 | +63.7% |
| Total equity and liabilities | 10/49 | €724,951 | €762,078 | +€37,127 | +5.1% |
| Equity | 10/15 | €625,413 | €685,516 | +€60,103 | +9.6% |
| Contributions | 10/11 | €48,339 | €48,750 | +€411 | +0.8% |
| Reserves | 13 | €139,052 | €138,641 | -€411 | -0.3% |
| Tax-exempt reserves | 132 | €15,300 | €15,300 | = | 0.0% |
| Distributable reserves | 133 | €123,752 | €123,341 | -€411 | -0.3% |
| Profit (loss) carried forward | 14 | €438,022 | €498,125 | +€60,103 | +13.7% |
| Amounts payable | 17/49 | €99,537 | €76,562 | -€22,976 | -23.1% |
| Amounts payable after more than one year | 17 | €22,418 | €8,005 | -€14,413 | -64.3% |
| Financial debts | 170/4 | €22,418 | €8,005 | -€14,413 | -64.3% |
| Amounts payable within one year | 42/48 | €77,119 | €68,557 | -€8,563 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €18,038 | €14,413 | -€3,625 | -20.1% |
| Trade debts | 44 | €7,031 | €6,369 | -€662 | -9.4% |
| Suppliers | 440/4 | €7,031 | €6,369 | -€662 | -9.4% |
| Taxes, remuneration and social security | 45 | €34,969 | €46,832 | +€11,862 | +33.9% |
| Taxes | 450/3 | €34,969 | €46,832 | +€11,862 | +33.9% |
| Other amounts payable | 47/48 | €17,081 | €943 | -€16,138 | -94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,032 | €93,471 | +€5,439 | +6.2% |
| Other operating charges | 640/8 | €758 | €2,229 | +€1,471 | +194.0% |
| Gross operating margin | 9900 | €136,257 | €171,766 | +€35,509 | +26.1% |
| Operating profit (loss) | 9901 | €47,467 | €76,066 | +€28,599 | +60.3% |
| Financial income | 75/76B | €1,026 | €834 | -€193 | -18.8% |
| Recurring financial income | 75 | €1,026 | €834 | -€193 | -18.8% |
| Financial charges | 65/66B | €3,346 | €2,314 | -€1,032 | -30.9% |
| Recurring financial charges | 65 | €3,346 | €2,314 | -€1,032 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €45,147 | €74,586 | +€29,439 | +65.2% |
| Income taxes | 67/77 | €8,622 | €14,484 | +€5,861 | +68.0% |
| Profit (loss) for the period | 9904 | €36,525 | €60,103 | +€23,578 | +64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,525 | €60,103 | +€23,578 | +64.6% |
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 9 October 2026 via checked.be.