EDMAN: 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.
EDMAN
Largest movements
- Receivables within one year +€39,331
up €39,331 (+81.5%), from €48,286 to €87,617
of which Other amounts receivable: +€35,503
- Cash +€23,879
up €23,879 (+349%), from €6,841 to €30,720
mainly Other debts (+€140,263) and Trade debts (+€89,051)
- Tangible fixed assets -€5,865
down €5,865 (-9.3%), from €63,317 to €57,452
of which Plant, machinery and equipment: -€9,738
- Financial fixed assets +€2,000
up €2,000 (+100%), from €1,999 to €3,999
- Profit (loss) carried forward -€152,040
down €152,040 (-61.5%), from -€247,238 to -€399,278
- Other debts +€140,263
up €140,263 (+73.0%), from €192,216 to €332,479
- Trade debts +€89,051
up €89,051 (+515%), from €17,276 to €106,327
- Accrued charges and deferred income -€10,364
down €10,364 (-81.6%), from €12,700 to €2,335
- Debts after one year -€7,833
down €7,833 (-5.7%), from €137,208 to €129,375
of which Financial debts: -€7,833
- Gross operating margin -€152,479
down €152,479 (-1,402%), from -€10,877 to -€163,355
- Financial income +€26,704
up €26,704 (+411%), from €6,505 to €33,209
of which Non-recurring financial income: +€26,700
- Other operating charges -€4,500
down €4,500 (-85.7%), from €5,252 to €752
- Financial charges +€2,393
up €2,393 (+37.0%), from €6,475 to €8,868
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 | €125,544 | €184,602 | +€59,058 | +47.0% |
| Fixed assets | 21/28 | €65,316 | €61,451 | -€3,865 | -5.9% |
| Tangible fixed assets | 22/27 | €63,317 | €57,452 | -€5,865 | -9.3% |
| Plant, machinery and equipment | 23 | €59,563 | €49,825 | -€9,738 | -16.3% |
| Furniture and vehicles | 24 | €3,754 | €7,627 | +€3,873 | +103% |
| Financial fixed assets | 28 | €1,999 | €3,999 | +€2,000 | +100% |
| Current assets | 29/58 | €60,227 | €123,150 | +€62,923 | +104% |
| Amounts receivable within one year | 40/41 | €48,286 | €87,617 | +€39,331 | +81.5% |
| Trade receivables | 40 | €42,665 | €46,493 | +€3,828 | +9.0% |
| Other amounts receivable | 41 | €5,621 | €41,124 | +€35,503 | +632% |
| Cash at bank and in hand | 54/58 | €6,841 | €30,720 | +€23,879 | +349% |
| Deferred charges and accrued income | 490/1 | €5,100 | €4,813 | -€286 | -5.6% |
| Total equity and liabilities | 10/49 | €125,544 | €184,602 | +€59,058 | +47.0% |
| Equity | 10/15 | -€242,238 | -€394,278 | -€152,040 | -62.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€247,238 | -€399,278 | -€152,040 | -61.5% |
| Amounts payable | 17/49 | €367,782 | €578,880 | +€211,098 | +57.4% |
| Amounts payable after more than one year | 17 | €137,208 | €129,375 | -€7,833 | -5.7% |
| Financial debts | 170/4 | €37,208 | €29,375 | -€7,833 | -21.1% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €217,874 | €447,169 | +€229,296 | +105% |
| Current portion of amounts payable after more than one year | 42 | €7,833 | €7,833 | = | 0.0% |
| Trade debts | 44 | €17,276 | €106,327 | +€89,051 | +515% |
| Suppliers | 440/4 | €17,276 | €106,327 | +€89,051 | +515% |
| Taxes, remuneration and social security | 45 | €547 | €529 | -€18 | -3.3% |
| Taxes | 450/3 | €547 | €529 | -€18 | -3.3% |
| Other amounts payable | 47/48 | €192,216 | €332,479 | +€140,263 | +73.0% |
| Accrued charges and deferred income | 492/3 | €12,700 | €2,335 | -€10,364 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,967 | €11,392 | +€425 | +3.9% |
| Other operating charges | 640/8 | €5,252 | €752 | -€4,500 | -85.7% |
| Non-recurring operating charges | 66A | €3,244 | €639 | -€2,605 | -80.3% |
| Gross operating margin | 9900 | -€10,877 | -€163,355 | -€152,479 | -1,402% |
| Operating profit (loss) | 9901 | -€30,339 | -€176,137 | -€145,798 | -481% |
| Financial income | 75/76B | €6,505 | €33,209 | +€26,704 | +411% |
| Recurring financial income | 75 | €5 | €9 | +€4 | +88.1% |
| Non-recurring financial income | 76B | €6,500 | €33,200 | +€26,700 | +411% |
| Financial charges | 65/66B | €6,475 | €8,868 | +€2,393 | +37.0% |
| Recurring financial charges | 65 | €6,475 | €8,868 | +€2,393 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,309 | -€151,796 | -€121,487 | -401% |
| Income taxes | 67/77 | €286 | €244 | -€42 | -14.6% |
| Profit (loss) for the period | 9904 | -€30,595 | -€152,040 | -€121,445 | -397% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,595 | -€152,040 | -€121,445 | -397% |
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 24 October 2026 via checked.be.