L'Epi d'Or: 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'Epi d'Or
Largest movements
- Cash +€22,898
up €22,898 (+8.1%), from €283,779 to €306,676
mainly Net result for the year (+€28,033) and Depreciation (+€11,189)
- Tangible fixed assets +€15,973
up €15,973 (+48.7%), from €32,767 to €48,740
of which Furniture and vehicles: +€11,663
- Deferred charges and accrued income -€4,543
down €4,543 (-38.8%), from €11,719 to €7,177
- Reserves +€25,657
up €25,657 (+18.2%), from €140,788 to €166,445
- Other debts +€6,413
up €6,413 (+4.3%), from €150,665 to €157,078
- Trade debts +€4,509
up €4,509 (+43.6%), from €10,344 to €14,854
- Tax, wage and social debts -€4,369
down €4,369 (-12.1%), from €36,230 to €31,861
of which Remuneration and social security: -€10,666
- Staff costs -€37,704
down €37,704 (-15.1%), from €249,703 to €211,999
- Gross operating margin -€11,965
down €11,965 (-4.1%), from €291,605 to €279,639
- Taxes +€6,841
up €6,841 (+108%), from €6,320 to €13,161
- Depreciation +€4,520
up €4,520 (+67.8%), from €6,669 to €11,189
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 | €338,028 | €370,238 | +€32,210 | +9.5% |
| Fixed assets | 21/28 | €32,767 | €48,740 | +€15,973 | +48.7% |
| Tangible fixed assets | 22/27 | €32,767 | €48,740 | +€15,973 | +48.7% |
| Land and buildings | 22 | €19,261 | €19,261 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,909 | €10,219 | +€4,309 | +72.9% |
| Furniture and vehicles | 24 | €7,597 | €19,260 | +€11,663 | +154% |
| Current assets | 29/58 | €305,261 | €321,498 | +€16,237 | +5.3% |
| Stocks and contracts in progress | 3 | €7,007 | €7,386 | +€379 | +5.4% |
| Stocks | 30/36 | €7,007 | €7,386 | +€379 | +5.4% |
| Amounts receivable within one year | 40/41 | €2,756 | €259 | -€2,497 | -90.6% |
| Trade receivables | 40 | €756 | €135 | -€622 | -82.2% |
| Other amounts receivable | 41 | €2,000 | €125 | -€1,875 | -93.8% |
| Cash at bank and in hand | 54/58 | €283,779 | €306,676 | +€22,898 | +8.1% |
| Deferred charges and accrued income | 490/1 | €11,719 | €7,177 | -€4,543 | -38.8% |
| Total equity and liabilities | 10/49 | €338,028 | €370,238 | +€32,210 | +9.5% |
| Equity | 10/15 | €140,788 | €166,445 | +€25,657 | +18.2% |
| Reserves | 13 | €140,788 | €166,445 | +€25,657 | +18.2% |
| Distributable reserves | 133 | €140,788 | €166,445 | +€25,657 | +18.2% |
| Amounts payable | 17/49 | €197,240 | €203,793 | +€6,553 | +3.3% |
| Amounts payable within one year | 42/48 | €197,240 | €203,793 | +€6,553 | +3.3% |
| Trade debts | 44 | €10,344 | €14,854 | +€4,509 | +43.6% |
| Suppliers | 440/4 | €10,344 | €14,854 | +€4,509 | +43.6% |
| Taxes, remuneration and social security | 45 | €36,230 | €31,861 | -€4,369 | -12.1% |
| Taxes | 450/3 | €4,408 | €10,705 | +€6,297 | +143% |
| Remuneration and social security | 454/9 | €31,823 | €21,156 | -€10,666 | -33.5% |
| Other amounts payable | 47/48 | €150,665 | €157,078 | +€6,413 | +4.3% |
| Non-recurring operating income | 76A | - | €1,300 | +€1,300 | |
| Remuneration, social security and pensions | 62 | €249,703 | €211,999 | -€37,704 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,669 | €11,189 | +€4,520 | +67.8% |
| Other operating charges | 640/8 | €5,194 | €6,366 | +€1,172 | +22.6% |
| Gross operating margin | 9900 | €291,605 | €279,639 | -€11,965 | -4.1% |
| Operating profit (loss) | 9901 | €30,039 | €50,086 | +€20,047 | +66.7% |
| Financial income | 75/76B | €3,928 | €3,560 | -€368 | -9.4% |
| Recurring financial income | 75 | €3,928 | €3,560 | -€368 | -9.4% |
| Financial charges | 65/66B | €12,861 | €12,451 | -€409 | -3.2% |
| Recurring financial charges | 65 | €12,861 | €12,451 | -€409 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €21,107 | €41,195 | +€20,088 | +95.2% |
| Income taxes | 67/77 | €6,320 | €13,161 | +€6,841 | +108% |
| Profit (loss) for the period | 9904 | €14,786 | €28,033 | +€13,247 | +89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,786 | €28,033 | +€13,247 | +89.6% |
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 28 October 2026 via checked.be.