L'ECOPAIN D'IGNACE: 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.
What changed
L'ECOPAIN D'IGNACE
NACE 10.711, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€29,532
2024 · €105,783-€76,251
Equity
€1.8m
2024 · €1.9m-€129,387
Cash
€14,939
2024 · €7,536+€7,403
Balance sheet total
€13.1m
2024 · €12.9m+€195,983
Largest movements
Assets
- Tangible fixed assets -€694,942
down €694,942 (-9.7%), from €7.2m to €6.5m
of which Land and buildings: -€413,175
- Receivables within one year +€580,470
up €580,470 (+25.6%), from €2.3m to €2.8m
of which Trade receivables: +€780,911
- Stocks and contracts +€163,050
up €163,050 (+6.6%), from €2.5m to €2.6m
- Intangible fixed assets +€143,542
up €143,542 (+27.3%), from €525,296 to €668,838
Equity and liabilities
- Trade debts +€391,281
up €391,281 (+19.2%), from €2.0m to €2.4m
- Investment grants -€158,918
down €158,918 (-14.4%), from €1.1m to €946,211
Income statement
- Staff costs +€371,293
up €371,293 (+9.0%), from €4.1m to €4.5m
- Services and other goods -€358,351
down €358,351 (-11.7%), from €3.1m to €2.7m
- Goods and materials +€158,651
up €158,651 (+2.3%), from €6.9m to €7.1m
of which Purchases: +€177,065
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.
Result 2024
€105,783
Turnover
-€75,305
Other operating income
-€28,784
Goods and materials
-€158,651
Services and other goods
+€358,351
Staff costs
-€371,293
Depreciation
-€45,912
Other operating charges
-€28,247
Other operating items
+€213,279
Financial income
+€2,496
Financial charges
+€57,817
Taxes
-€2
Result 2025
€29,532
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€642,933
Investment
-€400,692
Financing
-€234,839
Cash 2024
€7,536
From operations (derived)
+€642,933
Net result for the year
+€29,532
Depreciation
+€952,092
Stocks and contracts
-€163,050
Receivables within one year
-€580,470
Deferred charges and accrued income
+€3,540
Trade debts
+€391,281
Tax, wage and social debts
+€67,493
Other debts
-€43,257
Accrued charges and deferred income
-€14,227
Investment (derived)
-€400,692
Investment in fixed assets (net)
-€400,692
Financing
-€234,839
Debts after one year
-€6,719
Current portion of long-term debt
-€48,275
Short-term financial debts
-€20,926
Contributions, distributions and other
-€158,918
Cash 2025
€14,939
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,899,603 | €13,095,586 | +€195,983 | +1.5% |
| Fixed assets | 21/28 | €7,716,241 | €7,164,841 | -€551,400 | -7.1% |
| Intangible fixed assets | 21 | €525,296 | €668,838 | +€143,542 | +27.3% |
| Tangible fixed assets | 22/27 | €7,190,945 | €6,496,002 | -€694,942 | -9.7% |
| Land and buildings | 22 | €5,052,791 | €4,639,616 | -€413,175 | -8.2% |
| Plant, machinery and equipment | 23 | €1,845,610 | €1,596,609 | -€249,002 | -13.5% |
| Furniture and vehicles | 24 | €20,762 | €36,720 | +€15,957 | +76.9% |
| Leasing and similar rights | 25 | €271,781 | €223,058 | -€48,723 | -17.9% |
| Current assets | 29/58 | €5,183,362 | €5,930,745 | +€747,383 | +14.4% |
| Amounts receivable after more than one year | 29 | €323,300 | €323,300 | = | 0.0% |
| Other amounts receivable | 291 | €323,300 | €323,300 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,475,119 | €2,638,170 | +€163,050 | +6.6% |
| Stocks | 30/36 | €2,475,119 | €2,638,170 | +€163,050 | +6.6% |
| Raw materials and consumables | 30/31 | €1,284,914 | €1,313,004 | +€28,090 | +2.2% |
| Work in progress | 32 | €197,369 | €351,730 | +€154,361 | +78.2% |
| Finished goods | 33 | €992,836 | €973,435 | -€19,401 | -2.0% |
| Amounts receivable within one year | 40/41 | €2,269,172 | €2,849,642 | +€580,470 | +25.6% |
| Trade receivables | 40 | €1,755,713 | €2,536,624 | +€780,911 | +44.5% |
| Other amounts receivable | 41 | €513,459 | €313,018 | -€200,441 | -39.0% |
| Cash at bank and in hand | 54/58 | €7,536 | €14,939 | +€7,403 | +98.2% |
| Deferred charges and accrued income | 490/1 | €108,235 | €104,695 | -€3,540 | -3.3% |
| Total equity and liabilities | 10/49 | €12,899,603 | €13,095,586 | +€195,983 | +1.5% |
| Equity | 10/15 | €1,891,827 | €1,762,440 | -€129,387 | -6.8% |
| Contributions | 10/11 | €3,700,000 | €3,700,000 | = | 0.0% |
| Revaluation surpluses | 12 | €62,579 | €62,579 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,975,882 | -€2,946,350 | +€29,532 | +1.0% |
| Investment grants | 15 | €1,105,129 | €946,211 | -€158,918 | -14.4% |
| Amounts payable | 17/49 | €11,007,776 | €11,333,146 | +€325,370 | +3.0% |
| Amounts payable after more than one year | 17 | €6,071,248 | €6,064,529 | -€6,719 | -0.1% |
| Financial debts | 170/4 | €6,071,248 | €6,064,529 | -€6,719 | -0.1% |
| Subordinated loans | 170 | €1,168,000 | €1,254,523 | +€86,523 | +7.4% |
| Leasing and similar obligations | 172 | €162,059 | €111,964 | -€50,095 | -30.9% |
| Credit institutions | 173 | €4,595,403 | €4,613,448 | +€18,045 | +0.4% |
| Other loans | 174 | €145,786 | €84,594 | -€61,193 | -42.0% |
| Amounts payable within one year | 42/48 | €4,915,355 | €5,261,671 | +€346,316 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €676,539 | €628,265 | -€48,275 | -7.1% |
| Financial debts | 43 | €1,526,765 | €1,505,839 | -€20,926 | -1.4% |
| Credit institutions | 430/8 | €1,526,765 | €1,505,839 | -€20,926 | -1.4% |
| Trade debts | 44 | €2,034,740 | €2,426,021 | +€391,281 | +19.2% |
| Suppliers | 440/4 | €2,034,740 | €2,426,021 | +€391,281 | +19.2% |
| Taxes, remuneration and social security | 45 | €583,033 | €650,526 | +€67,493 | +11.6% |
| Taxes | 450/3 | €25,971 | €73,083 | +€47,112 | +181% |
| Remuneration and social security | 454/9 | €557,063 | €577,443 | +€20,380 | +3.7% |
| Other amounts payable | 47/48 | €94,277 | €51,020 | -€43,257 | -45.9% |
| Accrued charges and deferred income | 492/3 | €21,173 | €6,945 | -€14,227 | -67.2% |
| Operating income | 70/76A | €15,454,701 | €15,550,323 | +€95,622 | +0.6% |
| Turnover | 70 | €15,012,809 | €14,937,504 | -€75,305 | -0.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €6,947 | €134,960 | +€128,014 | +1,843% |
| Own construction capitalised | 72 | €258,559 | €280,679 | +€22,120 | +8.6% |
| Other operating income | 74 | €169,964 | €141,180 | -€28,784 | -16.9% |
| Non-recurring operating income | 76A | €6,422 | €56,000 | +€49,578 | +772% |
| Operating charges | 60/66A | €15,101,049 | €15,333,234 | +€232,185 | +1.5% |
| Goods for resale, raw materials and consumables | 60 | €6,935,952 | €7,094,602 | +€158,651 | +2.3% |
| Purchases | 600/8 | €6,945,628 | €7,122,692 | +€177,065 | +2.5% |
| Change in stocks: decrease (increase) | 609 | -€9,676 | -€28,090 | -€18,414 | -190% |
| Services and other goods | 61 | €3,072,138 | €2,713,787 | -€358,351 | -11.7% |
| Remuneration, social security and pensions | 62 | €4,133,750 | €4,505,043 | +€371,293 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €906,180 | €952,092 | +€45,912 | +5.1% |
| Other operating charges | 640/8 | €39,462 | €67,709 | +€28,247 | +71.6% |
| Non-recurring operating charges | 66A | €13,568 | - | -€13,568 | |
| Operating profit (loss) | 9901 | €353,653 | €217,089 | -€136,563 | -38.6% |
| Financial income | 75/76B | €158,435 | €160,931 | +€2,496 | +1.6% |
| Recurring financial income | 75 | €158,435 | €160,931 | +€2,496 | +1.6% |
| Other financial income | 752/9 | €158,435 | €160,931 | +€2,496 | +1.6% |
| Financial charges | 65/66B | €405,548 | €347,731 | -€57,817 | -14.3% |
| Recurring financial charges | 65 | €405,548 | €347,731 | -€57,817 | -14.3% |
| Debt charges | 650 | €391,525 | €335,052 | -€56,474 | -14.4% |
| Other financial charges | 652/9 | €14,023 | €12,680 | -€1,344 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €106,539 | €30,289 | -€76,249 | -71.6% |
| Income taxes | 67/77 | €756 | €758 | +€2 | +0.3% |
| Taxes | 670/3 | €756 | €758 | +€2 | +0.3% |
| Profit (loss) for the period | 9904 | €105,783 | €29,532 | -€76,251 | -72.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,783 | €29,532 | -€76,251 | -72.1% |
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 22 October 2026 via checked.be.