B'ETHICAL: 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.
B'ETHICAL
Largest movements
- Cash +€7,665
up €7,665 (+6.6%), from €116,743 to €124,408
mainly Net result for the year (+€11,717) and Depreciation (+€907)
- Receivables within one year +€1,640
up €1,640 (+30.0%), from €5,465 to €7,105
of which Trade receivables: +€1,815
- Reserves +€11,500
up €11,500 (+14.9%), from €77,400 to €88,900
- Trade debts -€2,241
down €2,241 (-70.3%), from €3,185 to €944
- Gross operating margin +€3,033
up €3,033 (+19.1%), from €15,882 to €18,915
- Financial charges +€1,385
up €1,385, from -€1,122 to €263
- Other operating charges +€1,250
up €1,250 (+56.1%), from €2,227 to €3,477
- Financial income +€961
up €961 (+51.5%), from €1,865 to €2,826
- Taxes +€409
up €409 (+8.2%), from €4,967 to €5,377
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.
Cash bridge derived
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 | €133,502 | €143,530 | +€10,028 | +7.5% |
| Fixed assets | 21/28 | €3,191 | €2,284 | -€907 | -28.4% |
| Tangible fixed assets | 22/27 | €2,891 | €1,984 | -€907 | -31.4% |
| Furniture and vehicles | 24 | €2,891 | €1,984 | -€907 | -31.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €130,311 | €141,247 | +€10,936 | +8.4% |
| Amounts receivable within one year | 40/41 | €5,465 | €7,105 | +€1,640 | +30.0% |
| Trade receivables | 40 | €5,043 | €6,858 | +€1,815 | +36.0% |
| Other amounts receivable | 41 | €421 | €247 | -€174 | -41.3% |
| Current investments | 50/53 | €8,104 | €9,311 | +€1,207 | +14.9% |
| Cash at bank and in hand | 54/58 | €116,743 | €124,408 | +€7,665 | +6.6% |
| Deferred charges and accrued income | 490/1 | - | €423 | +€423 | |
| Total equity and liabilities | 10/49 | €133,502 | €143,530 | +€10,028 | +7.5% |
| Equity | 10/15 | €125,125 | €136,842 | +€11,717 | +9.4% |
| Contributions | 10/11 | €50,885 | €50,885 | = | 0.0% |
| Reserves | 13 | €77,400 | €88,900 | +€11,500 | +14.9% |
| Distributable reserves | 133 | €77,400 | €88,900 | +€11,500 | +14.9% |
| Profit (loss) carried forward | 14 | -€3,160 | -€2,943 | +€217 | +6.9% |
| Amounts payable | 17/49 | €8,377 | €6,688 | -€1,689 | -20.2% |
| Amounts payable within one year | 42/48 | €8,377 | €6,688 | -€1,689 | -20.2% |
| Trade debts | 44 | €3,185 | €944 | -€2,241 | -70.3% |
| Suppliers | 440/4 | €3,185 | €944 | -€2,241 | -70.3% |
| Taxes, remuneration and social security | 45 | €4,478 | €5,377 | +€899 | +20.1% |
| Taxes | 450/3 | €4,478 | €5,377 | +€899 | +20.1% |
| Other amounts payable | 47/48 | €714 | €367 | -€348 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €907 | €907 | = | 0.0% |
| Other operating charges | 640/8 | €2,227 | €3,477 | +€1,250 | +56.1% |
| Gross operating margin | 9900 | €15,882 | €18,915 | +€3,033 | +19.1% |
| Operating profit (loss) | 9901 | €12,747 | €14,530 | +€1,783 | +14.0% |
| Financial income | 75/76B | €1,865 | €2,826 | +€961 | +51.5% |
| Recurring financial income | 75 | €1,865 | €2,826 | +€961 | +51.5% |
| Financial charges | 65/66B | -€1,122 | €263 | +€1,385 | |
| Recurring financial charges | 65 | -€1,122 | €263 | +€1,385 | |
| Profit (loss) for the period before taxes | 9903 | €15,734 | €17,094 | +€1,360 | +8.6% |
| Income taxes | 67/77 | €4,967 | €5,377 | +€409 | +8.2% |
| Profit (loss) for the period | 9904 | €10,767 | €11,717 | +€950 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,767 | €11,717 | +€950 | +8.8% |
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 12 October 2026 via checked.be.