EZA: 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.
EZA
Largest movements
- Cash -€51,382
down €51,382 (-91.6%), from €56,095 to €4,713
mainly Receivables after one year (-€36,096) and Debts after one year (-€27,870)
- Receivables after one year +€36,096
up €36,096 (+26.8%), from €134,493 to €170,589
- Debts after one year -€27,870
down €27,870 (-8.0%), from €349,117 to €321,248
- Profit (loss) carried forward +€19,076
up €19,076 (+36.8%), from €51,798 to €70,874
- Trade debts -€6,800
down €6,800 (-83.7%), from €8,126 to €1,326
- Depreciation -€12,060
down €12,060 (-61.1%), from €19,727 to €7,667
- Financial income -€9,995
down €9,995 (-57.2%), from €17,462 to €7,467
- Other operating charges -€3,595
down €3,595 (-59.9%), from €6,006 to €2,411
- Gross operating margin +€3,551
up €3,551 (+12.4%), from €28,589 to €32,140
- Financial charges -€1,420
down €1,420 (-12.0%), from €11,831 to €10,411
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 | €601,210 | €582,504 | -€18,705 | -3.1% |
| Fixed assets | 21/28 | €404,259 | €403,959 | -€299 | -0.1% |
| Tangible fixed assets | 22/27 | €404,159 | €403,859 | -€299 | -0.1% |
| Land and buildings | 22 | €284,221 | €278,002 | -€6,219 | -2.2% |
| Plant, machinery and equipment | 23 | €23,851 | €22,402 | -€1,449 | -6.1% |
| Furniture and vehicles | 24 | €53,232 | €60,600 | +€7,368 | +13.8% |
| Other tangible fixed assets | 26 | €42,855 | €42,855 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €196,951 | €178,545 | -€18,406 | -9.3% |
| Amounts receivable after more than one year | 29 | €134,493 | €170,589 | +€36,096 | +26.8% |
| Other amounts receivable | 291 | €134,493 | €170,589 | +€36,096 | +26.8% |
| Amounts receivable within one year | 40/41 | €6,310 | €3,191 | -€3,119 | -49.4% |
| Other amounts receivable | 41 | €6,310 | €3,191 | -€3,119 | -49.4% |
| Cash at bank and in hand | 54/58 | €56,095 | €4,713 | -€51,382 | -91.6% |
| Deferred charges and accrued income | 490/1 | €52 | €52 | -€1 | -1.7% |
| Total equity and liabilities | 10/49 | €601,210 | €582,504 | -€18,705 | -3.1% |
| Equity | 10/15 | €200,553 | €219,629 | +€19,076 | +9.5% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €28,756 | €28,756 | = | 0.0% |
| Distributable reserves | 133 | €28,756 | €28,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,798 | €70,874 | +€19,076 | +36.8% |
| Amounts payable | 17/49 | €400,656 | €362,875 | -€37,782 | -9.4% |
| Amounts payable after more than one year | 17 | €349,117 | €321,248 | -€27,870 | -8.0% |
| Financial debts | 170/4 | €349,117 | €321,248 | -€27,870 | -8.0% |
| Amounts payable within one year | 42/48 | €48,120 | €37,808 | -€10,312 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €33,874 | €30,362 | -€3,512 | -10.4% |
| Trade debts | 44 | €8,126 | €1,326 | -€6,800 | -83.7% |
| Suppliers | 440/4 | €8,126 | €1,326 | -€6,800 | -83.7% |
| Other amounts payable | 47/48 | €6,120 | €6,120 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,420 | €3,819 | +€400 | +11.7% |
| Remuneration, social security and pensions | 62 | €1,124 | €42 | -€1,082 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,727 | €7,667 | -€12,060 | -61.1% |
| Other operating charges | 640/8 | €6,006 | €2,411 | -€3,595 | -59.9% |
| Gross operating margin | 9900 | €28,589 | €32,140 | +€3,551 | +12.4% |
| Operating profit (loss) | 9901 | €1,732 | €22,020 | +€20,288 | +1171.5% |
| Financial income | 75/76B | €17,462 | €7,467 | -€9,995 | -57.2% |
| Recurring financial income | 75 | €17,462 | €7,467 | -€9,995 | -57.2% |
| Financial charges | 65/66B | €11,831 | €10,411 | -€1,420 | -12.0% |
| Recurring financial charges | 65 | €11,831 | €10,411 | -€1,420 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €7,363 | €19,076 | +€11,713 | +159.1% |
| Profit (loss) for the period | 9904 | €7,363 | €19,076 | +€11,713 | +159.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,363 | €19,076 | +€11,713 | +159.1% |
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 2 October 2026 via checked.be.