IMMO J. ECKELMANS: 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.
IMMO J. ECKELMANS
Largest movements
- Receivables within one year +€333,847
up €333,847 (+45.3%), from €736,784 to €1.1m
of which Trade receivables: +€355,118
- Tangible fixed assets -€96,434
down €96,434 (-16.8%), from €574,160 to €477,726
of which Furniture and vehicles: -€66,519
- Cash +€92,521
up €92,521 (+5.5%), from €1.7m to €1.8m
mainly Other debts (+€272,064) and Trade debts (+€231,585)
- Reserves -€310,821
down €310,821 (-26.2%), from €1.2m to €875,081
of which Distributable reserves: -€245,771
- Other debts +€272,064
up €272,064 (+285%), from €95,369 to €367,433
- Trade debts +€231,585
up €231,585 (+137%), from €169,513 to €401,098
- Accrued charges and deferred income +€137,691
up €137,691 (+9.7%), from €1.4m to €1.6m
- Staff costs -€48,116
down €48,116 (-8.5%), from €564,652 to €516,536
- Gross operating margin -€26,512
down €26,512 (-3.1%), from €866,837 to €840,325
- Taxes +€18,502
up €18,502 (+68.9%), from €26,849 to €45,350
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 | €3,032,023 | €3,355,527 | +€323,504 | +10.7% |
| Fixed assets | 21/28 | €591,408 | €490,402 | -€101,006 | -17.1% |
| Intangible fixed assets | 21 | €17,248 | €12,676 | -€4,572 | -26.5% |
| Tangible fixed assets | 22/27 | €574,160 | €477,726 | -€96,434 | -16.8% |
| Land and buildings | 22 | €5,051 | €0 | -€5,051 | -100% |
| Plant, machinery and equipment | 23 | €102,941 | €94,374 | -€8,566 | -8.3% |
| Furniture and vehicles | 24 | €148,217 | €81,698 | -€66,519 | -44.9% |
| Leasing and similar rights | 25 | €317,951 | €301,654 | -€16,297 | -5.1% |
| Current assets | 29/58 | €2,440,615 | €2,865,125 | +€424,510 | +17.4% |
| Amounts receivable within one year | 40/41 | €736,784 | €1,070,632 | +€333,847 | +45.3% |
| Trade receivables | 40 | €715,513 | €1,070,632 | +€355,118 | +49.6% |
| Other amounts receivable | 41 | €21,271 | €0 | -€21,271 | -100% |
| Cash at bank and in hand | 54/58 | €1,681,391 | €1,773,912 | +€92,521 | +5.5% |
| Deferred charges and accrued income | 490/1 | €22,439 | €20,581 | -€1,858 | -8.3% |
| Total equity and liabilities | 10/49 | €3,032,023 | €3,355,527 | +€323,504 | +10.7% |
| Equity | 10/15 | €1,204,502 | €893,681 | -€310,821 | -25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,185,902 | €875,081 | -€310,821 | -26.2% |
| Non-distributable reserves | 130/1 | €65,050 | €0 | -€65,050 | -100% |
| Reserves not available under the articles | 1311 | €65,050 | €0 | -€65,050 | -100% |
| Tax-exempt reserves | 132 | €5,249 | €5,249 | = | 0.0% |
| Distributable reserves | 133 | €1,115,602 | €869,832 | -€245,771 | -22.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,827,521 | €2,461,846 | +€634,325 | +34.7% |
| Amounts payable within one year | 42/48 | €405,128 | €901,761 | +€496,633 | +123% |
| Trade debts | 44 | €169,513 | €401,098 | +€231,585 | +137% |
| Suppliers | 440/4 | €169,513 | €401,098 | +€231,585 | +137% |
| Taxes, remuneration and social security | 45 | €140,247 | €133,230 | -€7,016 | -5.0% |
| Taxes | 450/3 | €24,857 | €28,077 | +€3,221 | +13.0% |
| Remuneration and social security | 454/9 | €115,390 | €105,153 | -€10,237 | -8.9% |
| Other amounts payable | 47/48 | €95,369 | €367,433 | +€272,064 | +285% |
| Accrued charges and deferred income | 492/3 | €1,422,393 | €1,560,085 | +€137,691 | +9.7% |
| Remuneration, social security and pensions | 62 | €564,652 | €516,536 | -€48,116 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,564 | €180,688 | +€3,124 | +1.8% |
| Other operating charges | 640/8 | €6,955 | €7,368 | +€413 | +5.9% |
| Gross operating margin | 9900 | €866,837 | €840,325 | -€26,512 | -3.1% |
| Operating profit (loss) | 9901 | €117,666 | €135,732 | +€18,066 | +15.4% |
| Financial income | 75/76B | €132 | €204 | +€71 | +53.9% |
| Recurring financial income | 75 | €132 | €204 | +€71 | +53.9% |
| Financial charges | 65/66B | €8,851 | €8,826 | -€25 | -0.3% |
| Recurring financial charges | 65 | €8,851 | €8,826 | -€25 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €108,948 | €127,110 | +€18,162 | +16.7% |
| Income taxes | 67/77 | €26,849 | €45,350 | +€18,502 | +68.9% |
| Profit (loss) for the period | 9904 | €82,099 | €81,760 | -€340 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,099 | €81,760 | -€340 | -0.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.