CABINET ETEOCLE: what changed
CABINET ETEOCLE
Largest movements
- Tangible fixed assets -€49,767
down €49,767 (-6.1%), from €811,535 to €761,768
of which Land and buildings: -€42,041
- Cash -€22,629
down €22,629 (-15.4%), from €147,258 to €124,629
mainly Contributions, distributions and other (-€115,600) and Debts after one year (-€67,844)
- Receivables after one year -€18,807
down €18,807 (-16.9%), from €111,484 to €92,677
- Receivables within one year +€14,091
up €14,091 (+248%), from €5,672 to €19,763
of which Other amounts receivable: +€11,279
- Reserves -€90,000
down €90,000 (-34.5%), from €261,120 to €171,120
- Other debts +€72,700
up €72,700 (+169%), from €42,900 to €115,600
- Debts after one year -€67,844
down €67,844 (-9.8%), from €692,647 to €624,803
of which Financial debts: -€67,244
- Gross operating margin -€30,514
down €30,514 (-17.4%), from €174,872 to €144,358
- Taxes -€8,646
down €8,646 (-43.7%), from €19,795 to €11,149
- Depreciation +€2,102
up €2,102 (+2.4%), from €86,060 to €88,161
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 | €1,114,734 | €1,036,024 | -€78,710 | -7.1% |
| Fixed assets | 21/28 | €811,535 | €761,768 | -€49,767 | -6.1% |
| Tangible fixed assets | 22/27 | €811,535 | €761,768 | -€49,767 | -6.1% |
| Land and buildings | 22 | €609,018 | €566,977 | -€42,041 | -6.9% |
| Plant, machinery and equipment | 23 | €141,632 | €150,777 | +€9,145 | +6.5% |
| Furniture and vehicles | 24 | €60,885 | €44,013 | -€16,872 | -27.7% |
| Current assets | 29/58 | €303,199 | €274,256 | -€28,943 | -9.5% |
| Amounts receivable after more than one year | 29 | €111,484 | €92,677 | -€18,807 | -16.9% |
| Other amounts receivable | 291 | €111,484 | €92,677 | -€18,807 | -16.9% |
| Amounts receivable within one year | 40/41 | €5,672 | €19,763 | +€14,091 | +248% |
| Trade receivables | 40 | €5,540 | €8,353 | +€2,813 | +50.8% |
| Other amounts receivable | 41 | €132 | €11,411 | +€11,279 | +8,557% |
| Cash at bank and in hand | 54/58 | €147,258 | €124,629 | -€22,629 | -15.4% |
| Deferred charges and accrued income | 490/1 | €38,785 | €37,187 | -€1,599 | -4.1% |
| Total equity and liabilities | 10/49 | €1,114,734 | €1,036,024 | -€78,710 | -7.1% |
| Equity | 10/15 | €298,076 | €208,091 | -€89,984 | -30.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €261,120 | €171,120 | -€90,000 | -34.5% |
| Distributable reserves | 133 | €261,120 | €171,120 | -€90,000 | -34.5% |
| Profit (loss) carried forward | 14 | €22,696 | €22,711 | +€16 | +0.1% |
| Amounts payable | 17/49 | €816,658 | €827,932 | +€11,274 | +1.4% |
| Amounts payable after more than one year | 17 | €692,647 | €624,803 | -€67,844 | -9.8% |
| Financial debts | 170/4 | €690,647 | €623,403 | -€67,244 | -9.7% |
| Other amounts payable | 178/9 | €2,000 | €1,400 | -€600 | -30.0% |
| Amounts payable within one year | 42/48 | €124,011 | €203,129 | +€79,118 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | €65,721 | €67,244 | +€1,523 | +2.3% |
| Trade debts | 44 | €7,164 | €14,425 | +€7,262 | +101% |
| Suppliers | 440/4 | €7,164 | €14,425 | +€7,262 | +101% |
| Taxes, remuneration and social security | 45 | €8,227 | €5,860 | -€2,367 | -28.8% |
| Taxes | 450/3 | €8,227 | €5,860 | -€2,367 | -28.8% |
| Other amounts payable | 47/48 | €42,900 | €115,600 | +€72,700 | +169% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,060 | €88,161 | +€2,102 | +2.4% |
| Other operating charges | 640/8 | €7,558 | €7,553 | -€5 | -0.1% |
| Gross operating margin | 9900 | €174,872 | €144,358 | -€30,514 | -17.4% |
| Operating profit (loss) | 9901 | €81,255 | €48,644 | -€32,611 | -40.1% |
| Financial income | 75/76B | €3,587 | €2,446 | -€1,141 | -31.8% |
| Recurring financial income | 75 | €3,587 | €2,446 | -€1,141 | -31.8% |
| Financial charges | 65/66B | €15,771 | €14,325 | -€1,447 | -9.2% |
| Recurring financial charges | 65 | €15,771 | €14,325 | -€1,447 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €69,071 | €36,765 | -€32,305 | -46.8% |
| Income taxes | 67/77 | €19,795 | €11,149 | -€8,646 | -43.7% |
| Profit (loss) for the period | 9904 | €49,276 | €25,616 | -€23,660 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,276 | €25,616 | -€23,660 | -48.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.