E-KR: 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.
E-KR
Largest movements
- Tangible fixed assets +€67,238
up €67,238 (+6.3%), from €1.1m to €1.1m
- Receivables within one year +€65,393
up €65,393 (+512%), from €12,772 to €78,165
of which Trade receivables: +€65,582
- Cash +€40,101
up €40,101 (+4.0%), from €996,407 to €1.0m
mainly Net result for the year (+€209,731) and Depreciation (+€41,713)
- Reserves +€207,541
up €207,541 (+18.0%), from €1.2m to €1.4m
of which Distributable reserves: +€210,000
- Other debts -€49,670
down €49,670 (-6.5%), from €765,359 to €715,689
- Debts after one year -€46,402
no longer reported in 2025 (was €46,402)
- Trade debts +€27,479
up €27,479 (+428%), from €6,423 to €33,902
- Financial income +€46,909
new in 2025: €46,909
- Gross operating margin +€26,880
up €26,880 (+9.7%), from €277,268 to €304,148
- Taxes +€6,855
up €6,855 (+8.3%), from €82,135 to €88,990
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 | €2,088,820 | €2,261,699 | +€172,878 | +8.3% |
| Fixed assets | 21/28 | €1,075,228 | €1,142,466 | +€67,238 | +6.3% |
| Tangible fixed assets | 22/27 | €1,075,228 | €1,142,466 | +€67,238 | +6.3% |
| Land and buildings | 22 | €1,075,228 | €1,142,466 | +€67,238 | +6.3% |
| Current assets | 29/58 | €1,013,593 | €1,119,233 | +€105,640 | +10.4% |
| Amounts receivable within one year | 40/41 | €12,772 | €78,165 | +€65,393 | +512% |
| Trade receivables | 40 | - | €65,582 | +€65,582 | |
| Other amounts receivable | 41 | €12,772 | €12,583 | -€189 | -1.5% |
| Cash at bank and in hand | 54/58 | €996,407 | €1,036,508 | +€40,101 | +4.0% |
| Deferred charges and accrued income | 490/1 | €4,414 | €4,560 | +€146 | +3.3% |
| Total equity and liabilities | 10/49 | €2,088,820 | €2,261,699 | +€172,878 | +8.3% |
| Equity | 10/15 | €1,168,941 | €1,378,672 | +€209,731 | +17.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,151,854 | €1,359,396 | +€207,541 | +18.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,994 | €47,536 | -€2,459 | -4.9% |
| Distributable reserves | 133 | €1,100,000 | €1,310,000 | +€210,000 | +19.1% |
| Profit (loss) carried forward | 14 | €10,887 | €13,076 | +€2,189 | +20.1% |
| Provisions and deferred taxes | 16 | €25,743 | €24,477 | -€1,266 | -4.9% |
| Deferred taxes | 168 | €25,743 | €24,477 | -€1,266 | -4.9% |
| Amounts payable | 17/49 | €894,136 | €858,550 | -€35,587 | -4.0% |
| Amounts payable after more than one year | 17 | €46,402 | - | -€46,402 | |
| Financial debts | 170/4 | €46,402 | - | -€46,402 | |
| Amounts payable within one year | 42/48 | €847,734 | €840,536 | -€7,198 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €41,171 | €46,402 | +€5,230 | +12.7% |
| Trade debts | 44 | €6,423 | €33,902 | +€27,479 | +428% |
| Suppliers | 440/4 | €6,423 | €33,902 | +€27,479 | +428% |
| Taxes, remuneration and social security | 45 | €34,781 | €44,543 | +€9,762 | +28.1% |
| Taxes | 450/3 | €34,781 | €44,543 | +€9,762 | +28.1% |
| Other amounts payable | 47/48 | €765,359 | €715,689 | -€49,670 | -6.5% |
| Accrued charges and deferred income | 492/3 | - | €18,014 | +€18,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,265 | €41,713 | +€449 | +1.1% |
| Other operating charges | 640/8 | €7,727 | €6,972 | -€756 | -9.8% |
| Gross operating margin | 9900 | €277,268 | €304,148 | +€26,880 | +9.7% |
| Operating profit (loss) | 9901 | €228,276 | €255,463 | +€27,187 | +11.9% |
| Financial income | 75/76B | - | €46,909 | +€46,909 | |
| Recurring financial income | 75 | - | €46,909 | +€46,909 | |
| Financial charges | 65/66B | €2,084 | €4,917 | +€2,833 | +136% |
| Recurring financial charges | 65 | €2,084 | €4,917 | +€2,833 | +136% |
| Profit (loss) for the period before taxes | 9903 | €226,193 | €297,455 | +€71,262 | +31.5% |
| Transfer from deferred taxes | 780 | €1,266 | €1,266 | = | 0.0% |
| Income taxes | 67/77 | €82,135 | €88,990 | +€6,855 | +8.3% |
| Profit (loss) for the period | 9904 | €145,324 | €209,731 | +€64,407 | +44.3% |
| Transfer from tax-exempt reserves | 789 | €2,459 | €2,459 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €147,783 | €212,189 | +€64,407 | +43.6% |
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 31 October 2026 via checked.be.