Julien Echement: 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.
Julien Echement
Largest movements
- Cash +€71,381
up €71,381 (+155%), from €46,043 to €117,424
mainly Depreciation (+€94,825) and Trade debts (+€26,318)
- Tangible fixed assets -€34,848
down €34,848 (-7.7%), from €454,776 to €419,928
of which Furniture and vehicles: -€18,223
- Receivables within one year +€7,707
up €7,707 (+22.5%), from €34,294 to €42,002
of which Other amounts receivable: +€5,639
- Trade debts +€26,318
up €26,318 (+5,068%), from €519 to €26,837
- Reserves +€23,942
up €23,942 (+24.6%), from €97,272 to €121,215
- Debts after one year -€12,014
down €12,014 (-12.0%), from €100,067 to €88,053
- Current portion of long-term debt +€7,800
up €7,800 (+18.6%), from €41,989 to €49,789
- Gross operating margin +€20,685
up €20,685 (+8.3%), from €249,125 to €269,810
- Taxes +€5,968
up €5,968 (+97.2%), from €6,141 to €12,109
- Depreciation +€4,081
up €4,081 (+4.5%), from €90,745 to €94,825
- Financial charges -€3,984
down €3,984 (-38.2%), from €10,416 to €6,432
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 | €538,318 | €583,374 | +€45,056 | +8.4% |
| Fixed assets | 21/28 | €454,776 | €419,928 | -€34,848 | -7.7% |
| Tangible fixed assets | 22/27 | €454,776 | €419,928 | -€34,848 | -7.7% |
| Land and buildings | 22 | €228,560 | €211,935 | -€16,625 | -7.3% |
| Furniture and vehicles | 24 | €226,216 | €207,993 | -€18,223 | -8.1% |
| Current assets | 29/58 | €83,543 | €163,446 | +€79,904 | +95.6% |
| Amounts receivable within one year | 40/41 | €34,294 | €42,002 | +€7,707 | +22.5% |
| Trade receivables | 40 | €21,677 | €23,745 | +€2,069 | +9.5% |
| Other amounts receivable | 41 | €12,618 | €18,256 | +€5,639 | +44.7% |
| Cash at bank and in hand | 54/58 | €46,043 | €117,424 | +€71,381 | +155% |
| Deferred charges and accrued income | 490/1 | €3,206 | €4,021 | +€815 | +25.4% |
| Total equity and liabilities | 10/49 | €538,318 | €583,374 | +€45,056 | +8.4% |
| Equity | 10/15 | €368,272 | €392,215 | +€23,942 | +6.5% |
| Contributions | 10/11 | €271,000 | €271,000 | = | 0.0% |
| Reserves | 13 | €97,272 | €121,215 | +€23,942 | +24.6% |
| Distributable reserves | 133 | €97,272 | €121,215 | +€23,942 | +24.6% |
| Amounts payable | 17/49 | €170,046 | €191,160 | +€21,114 | +12.4% |
| Amounts payable after more than one year | 17 | €100,067 | €88,053 | -€12,014 | -12.0% |
| Financial debts | 170/4 | €100,067 | €88,053 | -€12,014 | -12.0% |
| Amounts payable within one year | 42/48 | €68,479 | €101,606 | +€33,127 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €41,989 | €49,789 | +€7,800 | +18.6% |
| Trade debts | 44 | €519 | €26,837 | +€26,318 | +5,068% |
| Suppliers | 440/4 | €519 | €26,837 | +€26,318 | +5,068% |
| Taxes, remuneration and social security | 45 | €25,971 | €24,980 | -€991 | -3.8% |
| Taxes | 450/3 | €8,873 | €11,419 | +€2,546 | +28.7% |
| Remuneration and social security | 454/9 | €17,097 | €13,561 | -€3,536 | -20.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €128,075 | €129,523 | +€1,448 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,745 | €94,825 | +€4,081 | +4.5% |
| Other operating charges | 640/8 | €7,219 | €6,085 | -€1,134 | -15.7% |
| Gross operating margin | 9900 | €249,125 | €269,810 | +€20,685 | +8.3% |
| Operating profit (loss) | 9901 | €23,087 | €39,377 | +€16,291 | +70.6% |
| Financial income | 75/76B | €2,436 | €3,105 | +€670 | +27.5% |
| Recurring financial income | 75 | €2,436 | €3,105 | +€670 | +27.5% |
| Financial charges | 65/66B | €10,416 | €6,432 | -€3,984 | -38.2% |
| Recurring financial charges | 65 | €10,416 | €6,432 | -€3,984 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €15,107 | €36,051 | +€20,944 | +139% |
| Income taxes | 67/77 | €6,141 | €12,109 | +€5,968 | +97.2% |
| Profit (loss) for the period | 9904 | €8,966 | €23,942 | +€14,976 | +167% |
| Profit (loss) for the period to be appropriated | 9905 | €8,966 | €23,942 | +€14,976 | +167% |
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 17 October 2026 via checked.be.