E&T: 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.
E&T
Largest movements
- Tangible fixed assets -€14,572
down €14,572 (-16.3%), from €89,238 to €74,665
of which Land and buildings: -€8,163
- Receivables after one year -€6,800
down €6,800 (-12.7%), from €53,432 to €46,633
- Receivables within one year +€4,998
up €4,998 (+63.8%), from €7,837 to €12,835
of which Trade receivables: +€5,377
- Cash +€3,016
up €3,016 (+68.7%), from €4,389 to €7,405
mainly Depreciation (+€15,956) and Receivables after one year (+€6,800)
- Profit (loss) carried forward -€8,568
down €8,568 (-12.8%), from -€66,873 to -€75,441
- Debts after one year -€6,345
down €6,345 (-16.6%), from €38,331 to €31,986
- Other operating charges -€956
down €956 (-34.6%), from €2,768 to €1,812
- Financial charges +€675
up €675 (+67.6%), from €999 to €1,674
- Gross operating margin -€321
down €321 (-3.1%), from €10,520 to €10,199
- Depreciation -€317
down €317 (-1.9%), from €16,273 to €15,956
- Financial income -€303
down €303 (-27.1%), from €1,119 to €815
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 | €157,949 | €143,552 | -€14,397 | -9.1% |
| Fixed assets | 21/28 | €90,053 | €75,280 | -€14,772 | -16.4% |
| Intangible fixed assets | 21 | €800 | €600 | -€200 | -25.0% |
| Tangible fixed assets | 22/27 | €89,238 | €74,665 | -€14,572 | -16.3% |
| Land and buildings | 22 | €40,625 | €32,461 | -€8,163 | -20.1% |
| Plant, machinery and equipment | 23 | €790 | €258 | -€532 | -67.3% |
| Other tangible fixed assets | 26 | €47,824 | €41,946 | -€5,877 | -12.3% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €67,896 | €68,272 | +€376 | +0.6% |
| Amounts receivable after more than one year | 29 | €53,432 | €46,633 | -€6,800 | -12.7% |
| Other amounts receivable | 291 | €53,432 | €46,633 | -€6,800 | -12.7% |
| Amounts receivable within one year | 40/41 | €7,837 | €12,835 | +€4,998 | +63.8% |
| Trade receivables | 40 | €0 | €5,377 | +€5,377 | |
| Other amounts receivable | 41 | €7,837 | €7,458 | -€379 | -4.8% |
| Cash at bank and in hand | 54/58 | €4,389 | €7,405 | +€3,016 | +68.7% |
| Deferred charges and accrued income | 490/1 | €2,238 | €1,399 | -€839 | -37.5% |
| Total equity and liabilities | 10/49 | €157,949 | €143,552 | -€14,397 | -9.1% |
| Equity | 10/15 | €110,123 | €101,555 | -€8,568 | -7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €158,396 | €158,396 | = | 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 | €12,709 | €12,709 | = | 0.0% |
| Distributable reserves | 133 | €143,827 | €143,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,873 | -€75,441 | -€8,568 | -12.8% |
| Amounts payable | 17/49 | €47,826 | €41,997 | -€5,829 | -12.2% |
| Amounts payable after more than one year | 17 | €38,331 | €31,986 | -€6,345 | -16.6% |
| Financial debts | 170/4 | €38,331 | €31,986 | -€6,345 | -16.6% |
| Amounts payable within one year | 42/48 | €8,995 | €8,436 | -€560 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €8,286 | €6,763 | -€1,523 | -18.4% |
| Trade debts | 44 | €303 | €0 | -€303 | -100.0% |
| Suppliers | 440/4 | €303 | €0 | -€303 | -100.0% |
| Taxes, remuneration and social security | 45 | €120 | €1,386 | +€1,266 | +1059.4% |
| Taxes | 450/3 | €120 | €136 | +€16 | +13.7% |
| Remuneration and social security | 454/9 | €0 | €1,250 | +€1,250 | |
| Other amounts payable | 47/48 | €287 | €287 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €500 | €1,576 | +€1,076 | +215.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,273 | €15,956 | -€317 | -1.9% |
| Other operating charges | 640/8 | €2,768 | €1,812 | -€956 | -34.6% |
| Non-recurring operating charges | 66A | €4,046 | €0 | -€4,046 | -100.0% |
| Gross operating margin | 9900 | €10,520 | €10,199 | -€321 | -3.1% |
| Operating profit (loss) | 9901 | -€12,567 | -€7,569 | +€4,998 | +39.8% |
| Financial income | 75/76B | €1,119 | €815 | -€303 | -27.1% |
| Recurring financial income | 75 | €1,119 | €815 | -€303 | -27.1% |
| Financial charges | 65/66B | €999 | €1,674 | +€675 | +67.6% |
| Recurring financial charges | 65 | €999 | €1,674 | +€675 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,448 | -€8,427 | +€4,020 | +32.3% |
| Income taxes | 67/77 | €138 | €141 | +€3 | +2.2% |
| Profit (loss) for the period | 9904 | -€12,585 | -€8,568 | +€4,017 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,585 | -€8,568 | +€4,017 | +31.9% |
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 11 October 2026 via checked.be.