ECTX: what changed
ECTX
Largest movements
- Current investments -€86,562
down €86,562 (-16.1%), from €539,324 to €452,762
- Receivables within one year +€32,600
up €32,600 (+55.2%), from €59,112 to €91,712
of which Trade receivables: +€33,467
- Cash -€27,126
down €27,126 (-56.8%), from €47,792 to €20,666
mainly Contributions, distributions and other (-€205,000) and Investment in fixed assets (net) (-€46,680)
- Tangible fixed assets +€8,263
up €8,263 (+7.2%), from €114,062 to €122,325
of which Furniture and vehicles: +€25,149
- Reserves -€104,611
down €104,611 (-15.1%), from €690,962 to €586,351
of which Distributable reserves: -€104,611
- Other debts +€18,275
new in 2025: €18,275
- Tax, wage and social debts +€15,379
up €15,379 (+31.1%), from €49,394 to €64,774
- Financial income +€20,531
up €20,531 (+36.0%), from €57,079 to €77,610
- Taxes +€16,090
up €16,090 (+50.1%), from €32,119 to €48,210
- Gross operating margin +€5,961
up €5,961 (+5.6%), from €106,414 to €112,375
- Depreciation +€1,728
up €1,728 (+4.7%), from €36,689 to €38,417
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €761,865 | €688,855 | -€73,011 | -9.6% |
| Fixed assets | 21/28 | €114,062 | €122,325 | +€8,263 | +7.2% |
| Tangible fixed assets | 22/27 | €114,062 | €122,325 | +€8,263 | +7.2% |
| Land and buildings | 22 | €35,137 | €30,415 | -€4,722 | -13.4% |
| Plant, machinery and equipment | 23 | €75,062 | €62,898 | -€12,164 | -16.2% |
| Furniture and vehicles | 24 | €3,863 | €29,012 | +€25,149 | +651% |
| Current assets | 29/58 | €647,803 | €566,529 | -€81,273 | -12.5% |
| Amounts receivable within one year | 40/41 | €59,112 | €91,712 | +€32,600 | +55.2% |
| Trade receivables | 40 | €57,706 | €91,173 | +€33,467 | +58.0% |
| Other amounts receivable | 41 | €1,406 | €539 | -€867 | -61.6% |
| Current investments | 50/53 | €539,324 | €452,762 | -€86,562 | -16.1% |
| Cash at bank and in hand | 54/58 | €47,792 | €20,666 | -€27,126 | -56.8% |
| Deferred charges and accrued income | 490/1 | €1,575 | €1,389 | -€186 | -11.8% |
| Total equity and liabilities | 10/49 | €761,865 | €688,855 | -€73,011 | -9.6% |
| Equity | 10/15 | €709,562 | €604,951 | -€104,611 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €690,962 | €586,351 | -€104,611 | -15.1% |
| 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 | €959 | €959 | = | 0.0% |
| Distributable reserves | 133 | €688,144 | €583,533 | -€104,611 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,303 | €83,903 | +€31,600 | +60.4% |
| Amounts payable within one year | 42/48 | €52,127 | €83,903 | +€31,777 | +61.0% |
| Trade debts | 44 | €2,732 | €855 | -€1,877 | -68.7% |
| Suppliers | 440/4 | €2,732 | €855 | -€1,877 | -68.7% |
| Taxes, remuneration and social security | 45 | €49,394 | €64,774 | +€15,379 | +31.1% |
| Taxes | 450/3 | €49,394 | €64,774 | +€15,379 | +31.1% |
| Other amounts payable | 47/48 | - | €18,275 | +€18,275 | |
| Accrued charges and deferred income | 492/3 | €176 | €0 | -€176 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,689 | €38,417 | +€1,728 | +4.7% |
| Other operating charges | 640/8 | €2,566 | €2,914 | +€348 | +13.6% |
| Gross operating margin | 9900 | €106,414 | €112,375 | +€5,961 | +5.6% |
| Operating profit (loss) | 9901 | €67,159 | €71,044 | +€3,885 | +5.8% |
| Financial income | 75/76B | €57,079 | €77,610 | +€20,531 | +36.0% |
| Recurring financial income | 75 | €57,079 | €77,610 | +€20,531 | +36.0% |
| Financial charges | 65/66B | €160 | €55 | -€105 | -65.7% |
| Recurring financial charges | 65 | €160 | €55 | -€105 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €124,079 | €148,599 | +€24,520 | +19.8% |
| Income taxes | 67/77 | €32,119 | €48,210 | +€16,090 | +50.1% |
| Profit (loss) for the period | 9904 | €91,959 | €100,389 | +€8,430 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €91,959 | €100,389 | +€8,430 | +9.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.