EC-S: 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.
EC-S
Largest movements
- Cash -€175,244
down €175,244 (-92.7%), from €189,032 to €13,788
mainly Contributions, distributions and other (-€241,461) and Deferred charges and accrued income (-€4,013)
- Receivables within one year -€10,732
down €10,732 (-5.1%), from €212,214 to €201,482
of which Other amounts receivable: -€21,498
- Profit (loss) carried forward -€219,379
down €219,379 (-64.3%), from €340,966 to €121,588
- Tax, wage and social debts +€29,476
up €29,476 (+96.4%), from €30,589 to €60,065
of which Taxes: +€37,733
- Trade debts +€5,828
up €5,828 (+21.7%), from €26,906 to €32,734
- Financial charges +€52,296
up €52,296 (+7,798%), from €671 to €52,967
- Gross operating margin +€14,442
up €14,442 (+16.1%), from €89,656 to €104,098
- Taxes -€7,450
down €7,450 (-60.3%), from €12,349 to €4,898
- Financial income +€1,668
up €1,668 (+48.3%), from €3,453 to €5,121
- Depreciation -€1,585
down €1,585 (-37.8%), from €4,197 to €2,612
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €427,421 | €242,847 | -€184,575 | -43.2% |
| Fixed assets | 21/28 | €9,137 | €6,525 | -€2,612 | -28.6% |
| Tangible fixed assets | 22/27 | €8,817 | €6,205 | -€2,612 | -29.6% |
| Plant, machinery and equipment | 23 | €5,932 | €3,962 | -€1,970 | -33.2% |
| Furniture and vehicles | 24 | €2,886 | €2,243 | -€642 | -22.3% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €418,284 | €236,322 | -€181,963 | -43.5% |
| Amounts receivable within one year | 40/41 | €212,214 | €201,482 | -€10,732 | -5.1% |
| Trade receivables | 40 | €68,913 | €79,680 | +€10,766 | +15.6% |
| Other amounts receivable | 41 | €143,301 | €121,802 | -€21,498 | -15.0% |
| Cash at bank and in hand | 54/58 | €189,032 | €13,788 | -€175,244 | -92.7% |
| Deferred charges and accrued income | 490/1 | €17,038 | €21,051 | +€4,013 | +23.6% |
| Total equity and liabilities | 10/49 | €427,421 | €242,847 | -€184,575 | -43.2% |
| Equity | 10/15 | €361,426 | €142,048 | -€219,379 | -60.7% |
| 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 | €340,966 | €121,588 | -€219,379 | -64.3% |
| Amounts payable | 17/49 | €65,995 | €100,799 | +€34,804 | +52.7% |
| Amounts payable within one year | 42/48 | €65,995 | €100,799 | +€34,804 | +52.7% |
| Trade debts | 44 | €26,906 | €32,734 | +€5,828 | +21.7% |
| Suppliers | 440/4 | €26,906 | €32,734 | +€5,828 | +21.7% |
| Taxes, remuneration and social security | 45 | €30,589 | €60,065 | +€29,476 | +96.4% |
| Taxes | 450/3 | €13,215 | €50,947 | +€37,733 | +286% |
| Remuneration and social security | 454/9 | €17,374 | €9,117 | -€8,257 | -47.5% |
| Other amounts payable | 47/48 | €8,500 | €8,000 | -€500 | -5.9% |
| Non-recurring operating income | 76A | €173 | - | -€173 | |
| Remuneration, social security and pensions | 62 | €20,936 | €20,856 | -€80 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,197 | €2,612 | -€1,585 | -37.8% |
| Other operating charges | 640/8 | €758 | €1,404 | +€646 | +85.2% |
| Non-recurring operating charges | 66A | €174 | €4,400 | +€4,226 | +2,436% |
| Gross operating margin | 9900 | €89,656 | €104,098 | +€14,442 | +16.1% |
| Operating profit (loss) | 9901 | €63,591 | €74,826 | +€11,235 | +17.7% |
| Financial income | 75/76B | €3,453 | €5,121 | +€1,668 | +48.3% |
| Recurring financial income | 75 | €3,453 | €5,121 | +€1,668 | +48.3% |
| Financial charges | 65/66B | €671 | €52,967 | +€52,296 | +7,798% |
| Recurring financial charges | 65 | €671 | €52,967 | +€52,296 | +7,798% |
| Profit (loss) for the period before taxes | 9903 | €66,373 | €26,980 | -€39,393 | -59.4% |
| Income taxes | 67/77 | €12,349 | €4,898 | -€7,450 | -60.3% |
| Profit (loss) for the period | 9904 | €54,025 | €22,082 | -€31,943 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,025 | €22,082 | -€31,943 | -59.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.