E.T. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Cash -€16,969
down €16,969 (-34.2%), from €49,634 to €32,665
mainly Net result for the year (-€17,336) and Other debts (-€1,632)
- Deferred charges and accrued income -€2,256
down €2,256 (-96.1%), from €2,346 to €91
- Receivables within one year +€904
up €904 (+272%), from €333 to €1,237
of which Other amounts receivable: +€817
- Profit (loss) carried forward -€17,336
down €17,336 (-65.0%), from €26,682 to €9,346
- Other debts -€1,632
down €1,632 (-100%), from €1,632 to €0
- Trade debts +€525
up €525 (+79.6%), from €659 to €1,184
- Gross operating margin -€40,103
down €40,103, from €23,846 to -€16,257
- Taxes -€8,416
down €8,416 (-97.8%), from €8,603 to €186
- Other operating charges -€506
down €506 (-44.9%), from €1,127 to €621
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.
Derived cash bridge
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 | €52,313 | €33,992 | -€18,320 | -35.0% |
| Current assets | 29/58 | €52,313 | €33,992 | -€18,320 | -35.0% |
| Amounts receivable within one year | 40/41 | €333 | €1,237 | +€904 | +272% |
| Trade receivables | 40 | €333 | €420 | +€87 | +26.1% |
| Other amounts receivable | 41 | €0 | €817 | +€817 | |
| Cash at bank and in hand | 54/58 | €49,634 | €32,665 | -€16,969 | -34.2% |
| Deferred charges and accrued income | 490/1 | €2,346 | €91 | -€2,256 | -96.1% |
| Total equity and liabilities | 10/49 | €52,313 | €33,992 | -€18,320 | -35.0% |
| Equity | 10/15 | €47,142 | €29,806 | -€17,336 | -36.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,682 | €9,346 | -€17,336 | -65.0% |
| Amounts payable | 17/49 | €5,171 | €4,186 | -€984 | -19.0% |
| Amounts payable within one year | 42/48 | €4,992 | €3,972 | -€1,020 | -20.4% |
| Trade debts | 44 | €659 | €1,184 | +€525 | +79.6% |
| Suppliers | 440/4 | €659 | €1,184 | +€525 | +79.6% |
| Taxes, remuneration and social security | 45 | €2,701 | €2,789 | +€87 | +3.2% |
| Taxes | 450/3 | €2,701 | €2,789 | +€87 | +3.2% |
| Other amounts payable | 47/48 | €1,632 | €0 | -€1,632 | -100% |
| Accrued charges and deferred income | 492/3 | €178 | €214 | +€36 | +19.9% |
| Other operating charges | 640/8 | €1,127 | €621 | -€506 | -44.9% |
| Gross operating margin | 9900 | €23,846 | -€16,257 | -€40,103 | |
| Operating profit (loss) | 9901 | €22,719 | -€16,877 | -€39,597 | |
| Financial income | 75/76B | €21 | €0 | -€21 | -99.0% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -99.0% |
| Financial charges | 65/66B | €316 | €273 | -€43 | -13.7% |
| Recurring financial charges | 65 | €316 | €273 | -€43 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €22,425 | -€17,150 | -€39,574 | |
| Income taxes | 67/77 | €8,603 | €186 | -€8,416 | -97.8% |
| Profit (loss) for the period | 9904 | €13,822 | -€17,336 | -€31,158 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,822 | -€17,336 | -€31,158 |
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 21 October 2026 via checked.be.