E . T . M .: 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.
What changed
E . T . M .
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4,141
2024 · €44,423-€48,564
Equity
€1.9m
2024 · €1.9m-€4,141
Cash
€1,424
2024 · €206,803-€205,379
Balance sheet total
€4.5m
2024 · €4.9m-€396,492
Largest movements
Assets
- Cash -€205,379
down €205,379 (-99.3%), from €206,803 to €1,424
mainly Other debts (-€359,942) and Debts after one year (-€55,456)
- Tangible fixed assets -€156,441
down €156,441 (-24.7%), from €632,306 to €475,865
of which Other tangible fixed assets: -€137,781
- Receivables within one year -€84,905
down €84,905 (-3.7%), from €2.3m to €2.2m
of which Other amounts receivable: -€94,586
- Stocks and contracts +€50,232
up €50,232 (+4.5%), from €1.1m to €1.2m
Equity and liabilities
- Other debts -€359,942
down €359,942 (-43.3%), from €831,553 to €471,611
- Debts after one year -€55,456
down €55,456 (-8.3%), from €671,818 to €616,362
Income statement
- Turnover -€1.3m
down €1.3m (-15.3%), from €8.2m to €6.9m
- Goods and materials -€1.0m
down €1.0m (-16.3%), from €6.4m to €5.3m
of which Change in stocks: decrease (increase): -€591,508
- Services and other goods -€238,572
down €238,572 (-18.2%), from €1.3m to €1.1m
- Other operating income -€168,402
no longer reported in 2025 (was €168,402)
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.
Result 2024
€44,423
Turnover
-€1.3m
Other operating income
-€168,402
Goods and materials
+€1.0m
Services and other goods
+€238,572
Staff costs
+€37,878
Depreciation
+€37,091
Other operating charges
-€14,132
Financial income
+€770
Financial charges
+€31,567
Result 2025
-€4,141
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.
From operations
-€152,218
Investment
€0
Financing
-€53,161
Cash 2024
€206,803
From operations (derived)
-€152,218
Net result for the year
-€4,141
Depreciation
+€156,441
Stocks and contracts
-€50,232
Receivables within one year
+€84,905
Trade debts
+€5,359
Tax, wage and social debts
+€15,394
Other debts
-€359,942
Financing
-€53,161
Debts after one year
-€55,456
Current portion of long-term debt
+€2,295
Cash 2025
€1,424
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,908,972 | €4,512,480 | -€396,492 | -8.1% |
| Fixed assets | 21/28 | €1,267,838 | €1,111,397 | -€156,441 | -12.3% |
| Tangible fixed assets | 22/27 | €632,306 | €475,865 | -€156,441 | -24.7% |
| Land and buildings | 22 | €106,000 | €105,000 | -€1,000 | -0.9% |
| Plant, machinery and equipment | 23 | €11,788 | €14,030 | +€2,242 | +19.0% |
| Furniture and vehicles | 24 | €68,219 | €48,317 | -€19,902 | -29.2% |
| Other tangible fixed assets | 26 | €446,300 | €308,519 | -€137,781 | -30.9% |
| Financial fixed assets | 28 | €635,532 | €635,532 | = | 0.0% |
| Affiliated companies | 280/1 | €635,532 | €635,532 | = | 0.0% |
| Participating interests | 280 | €635,532 | €635,532 | = | 0.0% |
| Current assets | 29/58 | €3,641,134 | €3,401,083 | -€240,052 | -6.6% |
| Stocks and contracts in progress | 3 | €1,127,700 | €1,177,932 | +€50,232 | +4.5% |
| Stocks | 30/36 | €1,127,700 | €1,177,932 | +€50,232 | +4.5% |
| Goods purchased for resale | 34 | €1,127,700 | €1,177,932 | +€50,232 | +4.5% |
| Amounts receivable within one year | 40/41 | €2,304,956 | €2,220,051 | -€84,905 | -3.7% |
| Trade receivables | 40 | €1,527,245 | €1,536,926 | +€9,681 | +0.6% |
| Other amounts receivable | 41 | €777,710 | €683,124 | -€94,586 | -12.2% |
| Cash at bank and in hand | 54/58 | €206,803 | €1,424 | -€205,379 | -99.3% |
| Deferred charges and accrued income | 490/1 | €1,676 | €1,676 | = | 0.0% |
| Total equity and liabilities | 10/49 | €4,908,972 | €4,512,480 | -€396,492 | -8.1% |
| Equity | 10/15 | €1,921,860 | €1,917,719 | -€4,141 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,901,400 | €1,897,259 | -€4,141 | -0.2% |
| Amounts payable | 17/49 | €2,987,112 | €2,594,761 | -€392,351 | -13.1% |
| Amounts payable after more than one year | 17 | €671,818 | €616,362 | -€55,456 | -8.3% |
| Financial debts | 170/4 | €671,818 | €616,362 | -€55,456 | -8.3% |
| Subordinated loans | 170 | €671,818 | €616,362 | -€55,456 | -8.3% |
| Amounts payable within one year | 42/48 | €2,315,294 | €1,978,400 | -€336,895 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €53,161 | €55,456 | +€2,295 | +4.3% |
| Trade debts | 44 | €754,556 | €759,915 | +€5,359 | +0.7% |
| Suppliers | 440/4 | €754,556 | €759,915 | +€5,359 | +0.7% |
| Advances received on contracts in progress | 46 | €493,519 | €493,519 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €182,506 | €197,899 | +€15,394 | +8.4% |
| Taxes | 450/3 | €103,410 | €142,946 | +€39,537 | +38.2% |
| Remuneration and social security | 454/9 | €79,096 | €54,953 | -€24,143 | -30.5% |
| Other amounts payable | 47/48 | €831,553 | €471,611 | -€359,942 | -43.3% |
| Operating income | 70/76A | €8,364,203 | €6,943,831 | -€1.4m | -17.0% |
| Turnover | 70 | €8,195,800 | €6,943,831 | -€1.3m | -15.3% |
| Other operating income | 74 | €168,402 | - | -€168,402 | |
| Operating charges | 60/66A | €8,169,021 | €6,829,551 | -€1.3m | -16.4% |
| Goods for resale, raw materials and consumables | 60 | €6,373,835 | €5,333,774 | -€1.0m | -16.3% |
| Purchases | 600/8 | €5,832,559 | €5,384,006 | -€448,553 | -7.7% |
| Change in stocks: decrease (increase) | 609 | €541,276 | -€50,232 | -€591,508 | |
| Services and other goods | 61 | €1,307,450 | €1,068,878 | -€238,572 | -18.2% |
| Remuneration, social security and pensions | 62 | €277,146 | €239,268 | -€37,878 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193,532 | €156,441 | -€37,091 | -19.2% |
| Other operating charges | 640/8 | €17,058 | €31,190 | +€14,132 | +82.8% |
| Operating profit (loss) | 9901 | €195,181 | €114,280 | -€80,901 | -41.4% |
| Financial income | 75/76B | €101 | €871 | +€770 | +759.6% |
| Recurring financial income | 75 | €101 | €871 | +€770 | +759.6% |
| Other financial income | 752/9 | €101 | €871 | +€770 | +759.6% |
| Financial charges | 65/66B | €60,860 | €29,293 | -€31,567 | -51.9% |
| Recurring financial charges | 65 | €60,860 | €29,293 | -€31,567 | -51.9% |
| Debt charges | 650 | €45,632 | €20,087 | -€25,545 | -56.0% |
| Other financial charges | 652/9 | €15,228 | €9,206 | -€6,022 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €134,423 | €85,859 | -€48,564 | -36.1% |
| Income taxes | 67/77 | €90,000 | €90,000 | = | 0.0% |
| Taxes | 670/3 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) for the period | 9904 | €44,423 | -€4,141 | -€48,564 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,423 | -€4,141 | -€48,564 |
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 9 October 2026 via checked.be.