ALAIN ETIENNE: 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.
ALAIN ETIENNE
Largest movements
- Tangible fixed assets -€9,558
down €9,558 (-4.1%), from €234,748 to €225,190
of which Land and buildings: -€10,569
- Cash +€3,986
up €3,986 (+21.4%), from €18,649 to €22,634
mainly Depreciation (+€22,664) and Net result for the year (+€7,424)
- Deferred charges and accrued income -€3,101
down €3,101 (-91.1%), from €3,403 to €302
- Receivables within one year -€3,067
down €3,067 (-13.1%), from €23,388 to €20,321
of which Trade receivables: -€2,044
- Debts after one year -€9,796
down €9,796 (-13.9%), from €70,395 to €60,599
- Profit (loss) carried forward +€7,424
up €7,424 (+5.5%), from €135,995 to €143,419
- Trade debts -€5,862
down €5,862 (-47.7%), from €12,287 to €6,425
- Tax, wage and social debts -€3,384
down €3,384 (-15.5%), from €21,854 to €18,470
of which Remuneration and social security: -€2,600
- Gross operating margin -€4,511
down €4,511 (-11.4%), from €39,505 to €34,994
- Purchases and services +€3,714
up €3,714 (+3.3%), from €112,307 to €116,021
- Taxes +€2,965
new in 2024: €2,965
- Depreciation +€2,604
up €2,604 (+13.0%), from €20,060 to €22,664
- Financial charges -€411
down €411 (-17.5%), from €2,355 to €1,944
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 | €293,291 | €279,358 | -€13,934 | -4.8% |
| Fixed assets | 21/28 | €236,187 | €226,129 | -€10,058 | -4.3% |
| Intangible fixed assets | 21 | €1,208 | €708 | -€500 | -41.4% |
| Tangible fixed assets | 22/27 | €234,748 | €225,190 | -€9,558 | -4.1% |
| Land and buildings | 22 | €164,662 | €154,093 | -€10,569 | -6.4% |
| Plant, machinery and equipment | 23 | €62,993 | €57,890 | -€5,102 | -8.1% |
| Furniture and vehicles | 24 | €7,094 | €13,207 | +€6,113 | +86.2% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €57,105 | €53,229 | -€3,876 | -6.8% |
| Stocks and contracts in progress | 3 | €11,665 | €9,972 | -€1,694 | -14.5% |
| Stocks | 30/36 | €11,665 | €9,972 | -€1,694 | -14.5% |
| Amounts receivable within one year | 40/41 | €23,388 | €20,321 | -€3,067 | -13.1% |
| Trade receivables | 40 | €14,398 | €12,354 | -€2,044 | -14.2% |
| Other amounts receivable | 41 | €8,989 | €7,966 | -€1,023 | -11.4% |
| Cash at bank and in hand | 54/58 | €18,649 | €22,634 | +€3,986 | +21.4% |
| Deferred charges and accrued income | 490/1 | €3,403 | €302 | -€3,101 | -91.1% |
| Total equity and liabilities | 10/49 | €293,291 | €279,358 | -€13,934 | -4.8% |
| Equity | 10/15 | €176,155 | €183,579 | +€7,424 | +4.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Contributions outside capital | 11 | €6,300 | - | -€6,300 | |
| Share premium | 1100/10 | €6,300 | - | -€6,300 | |
| Reserves | 13 | €33,860 | €33,860 | = | 0.0% |
| 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 | €32,000 | €32,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,995 | €143,419 | +€7,424 | +5.5% |
| Amounts payable | 17/49 | €117,137 | €95,779 | -€21,358 | -18.2% |
| Amounts payable after more than one year | 17 | €70,395 | €60,599 | -€9,796 | -13.9% |
| Financial debts | 170/4 | €70,395 | €60,599 | -€9,796 | -13.9% |
| Amounts payable within one year | 42/48 | €43,842 | €35,180 | -€8,662 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €9,701 | €9,822 | +€121 | +1.2% |
| Trade debts | 44 | €12,287 | €6,425 | -€5,862 | -47.7% |
| Suppliers | 440/4 | €12,287 | €6,425 | -€5,862 | -47.7% |
| Taxes, remuneration and social security | 45 | €21,854 | €18,470 | -€3,384 | -15.5% |
| Taxes | 450/3 | €4,565 | €3,781 | -€784 | -17.2% |
| Remuneration and social security | 454/9 | €17,288 | €14,688 | -€2,600 | -15.0% |
| Other amounts payable | 47/48 | - | €462 | +€462 | |
| Accrued charges and deferred income | 492/3 | €2,900 | - | -€2,900 | |
| Goods, raw materials, services and sundry goods | 60/61 | €112,307 | €116,021 | +€3,714 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,060 | €22,664 | +€2,604 | +13.0% |
| Other operating charges | 640/8 | €36 | €1 | -€36 | -98.0% |
| Gross operating margin | 9900 | €39,505 | €34,994 | -€4,511 | -11.4% |
| Operating profit (loss) | 9901 | €19,409 | €12,330 | -€7,079 | -36.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | +8,100% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +8,100% |
| Financial charges | 65/66B | €2,355 | €1,944 | -€411 | -17.5% |
| Recurring financial charges | 65 | €2,355 | €1,944 | -€411 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €17,054 | €10,389 | -€6,665 | -39.1% |
| Income taxes | 67/77 | - | €2,965 | +€2,965 | |
| Profit (loss) for the period | 9904 | €17,054 | €7,424 | -€9,630 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,054 | €7,424 | -€9,630 | -56.5% |
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 26 October 2026 via checked.be.