E-TEC: 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-TEC
Largest movements
- Cash +€359,329
up €359,329 (+151.3%), from €237,535 to €596,865
mainly Current investments (+€199,774) and Net result for the year (+€187,037)
- Current investments -€199,774
down €199,774 (-85.5%), from €233,777 to €34,003
- Tangible fixed assets -€69,958
down €69,958 (-30.2%), from €231,737 to €161,779
of which Plant, machinery and equipment: -€74,493
- Receivables within one year +€30,687
up €30,687 (+93.2%), from €32,927 to €63,614
of which Trade receivables: +€42,159
- Other debts +€171,948
up €171,948 (+287.9%), from €59,718 to €231,666
- Reserves -€44,000
down €44,000 (-7.0%), from €626,860 to €582,860
- Trade debts -€32,652
down €32,652 (-61.2%), from €53,325 to €20,673
- Accrued charges and deferred income +€29,759
new in 2025: €29,759
- Debts after one year -€15,722
down €15,722 (-62.0%), from €25,353 to €9,631
- Depreciation -€9,878
down €9,878 (-19.5%), from €50,641 to €40,763
- Financial income +€6,175
up €6,175 (+89.0%), from €6,935 to €13,109
- Financial charges +€3,989
up €3,989, from -€995 to €2,994
- Taxes +€3,795
up €3,795 (+4.9%), from €77,165 to €80,959
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 | €793,460 | €907,315 | +€113,854 | +14.3% |
| Fixed assets | 21/28 | €260,994 | €191,037 | -€69,958 | -26.8% |
| Tangible fixed assets | 22/27 | €231,737 | €161,779 | -€69,958 | -30.2% |
| Land and buildings | 22 | €42,470 | €36,836 | -€5,634 | -13.3% |
| Plant, machinery and equipment | 23 | €147,721 | €73,228 | -€74,493 | -50.4% |
| Furniture and vehicles | 24 | €41,547 | €51,715 | +€10,169 | +24.5% |
| Financial fixed assets | 28 | €29,258 | €29,258 | = | 0.0% |
| Current assets | 29/58 | €532,466 | €716,278 | +€183,812 | +34.5% |
| Stocks and contracts in progress | 3 | €10,333 | €12,439 | +€2,106 | +20.4% |
| Stocks | 30/36 | €10,333 | €12,439 | +€2,106 | +20.4% |
| Amounts receivable within one year | 40/41 | €32,927 | €63,614 | +€30,687 | +93.2% |
| Trade receivables | 40 | €20,643 | €62,802 | +€42,159 | +204.2% |
| Other amounts receivable | 41 | €12,285 | €812 | -€11,472 | -93.4% |
| Current investments | 50/53 | €233,777 | €34,003 | -€199,774 | -85.5% |
| Cash at bank and in hand | 54/58 | €237,535 | €596,865 | +€359,329 | +151.3% |
| Deferred charges and accrued income | 490/1 | €17,893 | €9,356 | -€8,536 | -47.7% |
| Total equity and liabilities | 10/49 | €793,460 | €907,315 | +€113,854 | +14.3% |
| Equity | 10/15 | €636,408 | €591,779 | -€44,629 | -7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €626,860 | €582,860 | -€44,000 | -7.0% |
| Distributable reserves | 133 | €626,860 | €582,860 | -€44,000 | -7.0% |
| Profit (loss) carried forward | 14 | €3,348 | €2,719 | -€629 | -18.8% |
| Amounts payable | 17/49 | €157,052 | €315,536 | +€158,484 | +100.9% |
| Amounts payable after more than one year | 17 | €25,353 | €9,631 | -€15,722 | -62.0% |
| Other amounts payable | 178/9 | €25,353 | €9,631 | -€15,722 | -62.0% |
| Amounts payable within one year | 42/48 | €131,699 | €276,146 | +€144,446 | +109.7% |
| Trade debts | 44 | €53,325 | €20,673 | -€32,652 | -61.2% |
| Suppliers | 440/4 | €53,325 | €20,673 | -€32,652 | -61.2% |
| Taxes, remuneration and social security | 45 | €18,656 | €23,807 | +€5,151 | +27.6% |
| Taxes | 450/3 | €18,656 | €23,807 | +€5,151 | +27.6% |
| Other amounts payable | 47/48 | €59,718 | €231,666 | +€171,948 | +287.9% |
| Accrued charges and deferred income | 492/3 | - | €29,759 | +€29,759 | |
| Non-recurring operating income | 76A | - | €23,503 | +€23,503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,641 | €40,763 | -€9,878 | -19.5% |
| Other operating charges | 640/8 | €6,907 | €7,245 | +€337 | +4.9% |
| Gross operating margin | 9900 | €304,037 | €305,888 | +€1,852 | +0.6% |
| Operating profit (loss) | 9901 | €246,488 | €257,881 | +€11,393 | +4.6% |
| Financial income | 75/76B | €6,935 | €13,109 | +€6,175 | +89.0% |
| Recurring financial income | 75 | €6,935 | €13,109 | +€6,175 | +89.0% |
| Financial charges | 65/66B | -€995 | €2,994 | +€3,989 | |
| Recurring financial charges | 65 | -€995 | €2,994 | +€3,989 | |
| Profit (loss) for the period before taxes | 9903 | €254,418 | €267,996 | +€13,578 | +5.3% |
| Income taxes | 67/77 | €77,165 | €80,959 | +€3,795 | +4.9% |
| Profit (loss) for the period | 9904 | €177,253 | €187,037 | +€9,783 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €177,253 | €187,037 | +€9,783 | +5.5% |
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 4 October 2026 via checked.be.