E.T.I. CONSTRUCT: what changed
Two fiscal 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.I. CONSTRUCT
Largest movements
- Stocks and contracts -€956,218
down €956,218 (-33.7%), from €2.8m to €1.9m
of which Stocks: -€956,218
- Receivables within one year +€523,902
up €523,902 (+47.7%), from €1.1m to €1.6m
of which Trade receivables: +€521,445
- Short-term financial debts -€513,895
down €513,895 (-24.5%), from €2.1m to €1.6m
of which Credit institutions: -€1.1m
- Trade debts +€151,947
up €151,947 (+110.1%), from €138,036 to €289,984
- Tax, wage and social debts -€56,357
down €56,357 (-74.8%), from €75,330 to €18,973
of which Remuneration and social security: -€49,550
- Gross operating margin +€49,760
up €49,760 (+9.3%), from €532,366 to €582,126
- Staff costs +€43,961
up €43,961 (+11.0%), from €397,902 to €441,863
- Financial income -€27,573
down €27,573 (-99.0%), from €27,845 to €272
of which Non-recurring financial income: -€27,000
- Financial charges -€24,584
down €24,584 (-20.7%), from €119,037 to €94,453
- Other operating charges -€6,368
down €6,368 (-43.8%), from €14,540 to €8,172
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 | €4,040,608 | €3,642,818 | -€397,790 | -9.8% |
| Fixed assets | 21/28 | €38,072 | €73,024 | +€34,952 | +91.8% |
| Tangible fixed assets | 22/27 | €37,626 | €72,578 | +€34,952 | +92.9% |
| Furniture and vehicles | 24 | €15,510 | €29,022 | +€13,512 | +87.1% |
| Leasing and similar rights | 25 | €22,117 | €43,556 | +€21,440 | +96.9% |
| Financial fixed assets | 28 | €445 | €445 | = | 0.0% |
| Current assets | 29/58 | €4,002,536 | €3,569,794 | -€432,742 | -10.8% |
| Stocks and contracts in progress | 3 | €2,836,482 | €1,880,264 | -€956,218 | -33.7% |
| Stocks | 30/36 | €2,595,001 | €1,638,783 | -€956,218 | -36.8% |
| Contracts in progress | 37 | €241,481 | €241,481 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,098,707 | €1,622,609 | +€523,902 | +47.7% |
| Trade receivables | 40 | €1,085,570 | €1,607,015 | +€521,445 | +48.0% |
| Other amounts receivable | 41 | €13,137 | €15,595 | +€2,458 | +18.7% |
| Current investments | 50/53 | €117 | €118 | +€1 | +0.8% |
| Cash at bank and in hand | 54/58 | €39,223 | €37,802 | -€1,421 | -3.6% |
| Deferred charges and accrued income | 490/1 | €28,007 | €29,002 | +€994 | +3.5% |
| Total equity and liabilities | 10/49 | €4,040,608 | €3,642,818 | -€397,790 | -9.8% |
| Equity | 10/15 | €1,467,794 | €1,481,281 | +€13,487 | +0.9% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €465,544 | €479,019 | +€13,474 | +2.9% |
| Non-distributable reserves | 130/1 | €22,676 | €23,350 | +€674 | +3.0% |
| Legal reserve | 130 | €22,676 | €23,350 | +€674 | +3.0% |
| Distributable reserves | 133 | €442,868 | €455,668 | +€12,800 | +2.9% |
| Profit (loss) carried forward | 14 | €2,249 | €2,262 | +€13 | +0.6% |
| Amounts payable | 17/49 | €2,572,814 | €2,161,537 | -€411,277 | -16.0% |
| Amounts payable after more than one year | 17 | €19,364 | €35,460 | +€16,096 | +83.1% |
| Financial debts | 170/4 | €19,364 | €35,460 | +€16,096 | +83.1% |
| Amounts payable within one year | 42/48 | €2,552,856 | €2,118,351 | -€434,505 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €206,115 | €212,313 | +€6,198 | +3.0% |
| Financial debts | 43 | €2,098,976 | €1,585,081 | -€513,895 | -24.5% |
| Credit institutions | 430/8 | €2,098,840 | €1,020,000 | -€1.1m | -51.4% |
| Other loans | 439 | €136 | €565,081 | +€564,945 | +414364.5% |
| Trade debts | 44 | €138,036 | €289,984 | +€151,947 | +110.1% |
| Suppliers | 440/4 | €138,036 | €289,984 | +€151,947 | +110.1% |
| Advances received on contracts in progress | 46 | €16,399 | - | -€16,399 | |
| Taxes, remuneration and social security | 45 | €75,330 | €18,973 | -€56,357 | -74.8% |
| Taxes | 450/3 | €19,062 | €12,255 | -€6,807 | -35.7% |
| Remuneration and social security | 454/9 | €56,269 | €6,718 | -€49,550 | -88.1% |
| Other amounts payable | 47/48 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Accrued charges and deferred income | 492/3 | €594 | €7,726 | +€7,132 | +1201.4% |
| Remuneration, social security and pensions | 62 | €397,902 | €441,863 | +€43,961 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,979 | €12,143 | +€6,165 | +103.1% |
| Other operating charges | 640/8 | €14,540 | €8,172 | -€6,368 | -43.8% |
| Gross operating margin | 9900 | €532,366 | €582,126 | +€49,760 | +9.3% |
| Operating profit (loss) | 9901 | €113,945 | €119,947 | +€6,002 | +5.3% |
| Financial income | 75/76B | €27,845 | €272 | -€27,573 | -99.0% |
| Recurring financial income | 75 | €845 | €272 | -€573 | -67.8% |
| Non-recurring financial income | 76B | €27,000 | - | -€27,000 | |
| Financial charges | 65/66B | €119,037 | €94,453 | -€24,584 | -20.7% |
| Recurring financial charges | 65 | €119,037 | €94,453 | -€24,584 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €22,753 | €25,766 | +€3,013 | +13.2% |
| Income taxes | 67/77 | €10,996 | €12,279 | +€1,283 | +11.7% |
| Profit (loss) for the period | 9904 | €11,757 | €13,487 | +€1,730 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,757 | €13,487 | +€1,730 | +14.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.