L'EEN: 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.
L'EEN
Largest movements
- Cash +€32,262
up €32,262 (+17.0%), from €190,320 to €222,582
mainly Net result for the year (+€60,753) and Debts after one year (+€46,536)
- Receivables within one year -€22,245
down €22,245 (-20.1%), from €110,505 to €88,260
of which Trade receivables: -€25,298
- Tangible fixed assets -€12,188
down €12,188 (-3.3%), from €363,863 to €351,675
of which Land and buildings: -€10,191
- Profit (loss) carried forward -€81,033
down €81,033 (-100%), from €81,033 to €0
- Debts after one year +€46,536
up €46,536 (+25.2%), from €184,446 to €230,982
- Other debts +€24,797
up €24,797 (+7.5%), from €331,458 to €356,255
- Tax, wage and social debts +€14,296
up €14,296 (+164%), from €8,718 to €23,014
of which Taxes: +€14,296
- Trade debts -€7,310
down €7,310 (-72.3%), from €10,106 to €2,797
- Gross operating margin -€25,915
down €25,915 (-20.3%), from €127,748 to €101,832
- Taxes -€5,598
down €5,598 (-26.2%), from €21,398 to €15,800
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 | €664,893 | €662,516 | -€2,377 | -0.4% |
| Fixed assets | 21/28 | €363,863 | €351,675 | -€12,188 | -3.3% |
| Tangible fixed assets | 22/27 | €363,863 | €351,675 | -€12,188 | -3.3% |
| Land and buildings | 22 | €303,325 | €293,133 | -€10,191 | -3.4% |
| Plant, machinery and equipment | 23 | €4,503 | €3,445 | -€1,059 | -23.5% |
| Other tangible fixed assets | 26 | €56,035 | €55,097 | -€938 | -1.7% |
| Current assets | 29/58 | €301,030 | €310,841 | +€9,811 | +3.3% |
| Amounts receivable within one year | 40/41 | €110,505 | €88,260 | -€22,245 | -20.1% |
| Trade receivables | 40 | €109,312 | €84,014 | -€25,298 | -23.1% |
| Other amounts receivable | 41 | €1,193 | €4,246 | +€3,053 | +256% |
| Cash at bank and in hand | 54/58 | €190,320 | €222,582 | +€32,262 | +17.0% |
| Deferred charges and accrued income | 490/1 | €206 | €0 | -€206 | -100% |
| Total equity and liabilities | 10/49 | €664,893 | €662,516 | -€2,377 | -0.4% |
| Equity | 10/15 | €101,493 | €20,460 | -€81,033 | -79.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,033 | €0 | -€81,033 | -100% |
| Amounts payable | 17/49 | €563,400 | €642,056 | +€78,657 | +14.0% |
| Amounts payable after more than one year | 17 | €184,446 | €230,982 | +€46,536 | +25.2% |
| Financial debts | 170/4 | €184,446 | €230,982 | +€46,536 | +25.2% |
| Amounts payable within one year | 42/48 | €378,954 | €411,074 | +€32,120 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €28,672 | €29,008 | +€337 | +1.2% |
| Trade debts | 44 | €10,106 | €2,797 | -€7,310 | -72.3% |
| Suppliers | 440/4 | €10,106 | €2,797 | -€7,310 | -72.3% |
| Taxes, remuneration and social security | 45 | €8,718 | €23,014 | +€14,296 | +164% |
| Taxes | 450/3 | €5,778 | €20,074 | +€14,296 | +247% |
| Remuneration and social security | 454/9 | €2,940 | €2,940 | = | 0.0% |
| Other amounts payable | 47/48 | €331,458 | €356,255 | +€24,797 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,703 | €20,188 | +€485 | +2.5% |
| Other operating charges | 640/8 | €1,236 | €1,279 | +€44 | +3.5% |
| Gross operating margin | 9900 | €127,748 | €101,832 | -€25,915 | -20.3% |
| Operating profit (loss) | 9901 | €106,809 | €80,365 | -€26,444 | -24.8% |
| Financial income | 75/76B | €4 | €4 | +€0 | +7.2% |
| Recurring financial income | 75 | €4 | €4 | +€0 | +7.2% |
| Financial charges | 65/66B | €4,382 | €3,817 | -€565 | -12.9% |
| Recurring financial charges | 65 | €4,382 | €3,817 | -€565 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €102,431 | €76,553 | -€25,878 | -25.3% |
| Income taxes | 67/77 | €21,398 | €15,800 | -€5,598 | -26.2% |
| Profit (loss) for the period | 9904 | €81,033 | €60,753 | -€20,280 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,033 | €60,753 | -€20,280 | -25.0% |
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 20 October 2026 via checked.be.