E-TECH: 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-TECH
Largest movements
- Stocks and contracts -€474,194
down €474,194 (-85.0%), from €557,575 to €83,381
of which Contracts in progress: -€476,114
- Tangible fixed assets -€111,781
down €111,781 (-24.9%), from €449,701 to €337,920
of which Furniture and vehicles: -€87,550
- Receivables within one year +€87,657
up €87,657 (+26.0%), from €337,593 to €425,250
of which Trade receivables: +€101,338
- Cash -€53,899
down €53,899 (-37.3%), from €144,550 to €90,651
mainly Advances received (-€504,638) and Receivables within one year (-€87,657)
- Advances received -€504,638
down €504,638 (-98.3%), from €513,501 to €8,863
- Other debts -€75,020
down €75,020 (-58.2%), from €129,000 to €53,980
- Trade debts +€47,944
up €47,944 (+25.6%), from €187,331 to €235,275
- Current portion of long-term debt -€33,986
down €33,986 (-40.3%), from €84,262 to €50,276
- Debts after one year -€21,319
down €21,319 (-6.6%), from €325,319 to €304,000
of which Financial debts: -€71,319
- Depreciation -€29,892
down €29,892 (-30.3%), from €98,534 to €68,643
- Gross operating margin -€19,599
down €19,599 (-2.4%), from €828,378 to €808,779
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 | €1,492,345 | €939,913 | -€552,432 | -37.0% |
| Fixed assets | 21/28 | €449,701 | €337,920 | -€111,781 | -24.9% |
| Tangible fixed assets | 22/27 | €449,701 | €337,920 | -€111,781 | -24.9% |
| Land and buildings | 22 | €253,457 | €245,138 | -€8,318 | -3.3% |
| Plant, machinery and equipment | 23 | €44,479 | €28,566 | -€15,913 | -35.8% |
| Furniture and vehicles | 24 | €151,765 | €64,215 | -€87,550 | -57.7% |
| Current assets | 29/58 | €1,042,644 | €601,993 | -€440,651 | -42.3% |
| Stocks and contracts in progress | 3 | €557,575 | €83,381 | -€474,194 | -85.0% |
| Stocks | 30/36 | €49,257 | €51,177 | +€1,920 | +3.9% |
| Contracts in progress | 37 | €508,318 | €32,203 | -€476,114 | -93.7% |
| Amounts receivable within one year | 40/41 | €337,593 | €425,250 | +€87,657 | +26.0% |
| Trade receivables | 40 | €286,350 | €387,688 | +€101,338 | +35.4% |
| Other amounts receivable | 41 | €51,242 | €37,561 | -€13,681 | -26.7% |
| Cash at bank and in hand | 54/58 | €144,550 | €90,651 | -€53,899 | -37.3% |
| Deferred charges and accrued income | 490/1 | €2,926 | €2,712 | -€214 | -7.3% |
| Total equity and liabilities | 10/49 | €1,492,345 | €939,913 | -€552,432 | -37.0% |
| Equity | 10/15 | €169,156 | €184,089 | +€14,933 | +8.8% |
| Contributions | 10/11 | €57,200 | €57,200 | = | 0.0% |
| Reserves | 13 | €83,500 | €83,500 | = | 0.0% |
| Distributable reserves | 133 | €83,500 | €83,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,783 | €24,349 | +€16,566 | +212.8% |
| Investment grants | 15 | €20,673 | €19,039 | -€1,634 | -7.9% |
| Amounts payable | 17/49 | €1,323,189 | €755,824 | -€567,365 | -42.9% |
| Amounts payable after more than one year | 17 | €325,319 | €304,000 | -€21,319 | -6.6% |
| Financial debts | 170/4 | €125,319 | €54,000 | -€71,319 | -56.9% |
| Trade debts | 175 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Amounts payable within one year | 42/48 | €988,203 | €442,058 | -€546,145 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €84,262 | €50,276 | -€33,986 | -40.3% |
| Trade debts | 44 | €187,331 | €235,275 | +€47,944 | +25.6% |
| Suppliers | 440/4 | €187,331 | €235,275 | +€47,944 | +25.6% |
| Advances received on contracts in progress | 46 | €513,501 | €8,863 | -€504,638 | -98.3% |
| Taxes, remuneration and social security | 45 | €74,109 | €93,664 | +€19,555 | +26.4% |
| Taxes | 450/3 | €16,655 | €1,465 | -€15,190 | -91.2% |
| Remuneration and social security | 454/9 | €57,454 | €92,199 | +€34,745 | +60.5% |
| Other amounts payable | 47/48 | €129,000 | €53,980 | -€75,020 | -58.2% |
| Accrued charges and deferred income | 492/3 | €9,667 | €9,766 | +€99 | +1.0% |
| Remuneration, social security and pensions | 62 | €657,239 | €665,108 | +€7,869 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,534 | €68,643 | -€29,892 | -30.3% |
| Other operating charges | 640/8 | €12,107 | €11,989 | -€118 | -1.0% |
| Non-recurring operating charges | 66A | - | €20,015 | +€20,015 | |
| Gross operating margin | 9900 | €828,378 | €808,779 | -€19,599 | -2.4% |
| Operating profit (loss) | 9901 | €60,498 | €43,025 | -€17,473 | -28.9% |
| Financial income | 75/76B | €5,055 | €2,186 | -€2,869 | -56.7% |
| Recurring financial income | 75 | €5,055 | €2,186 | -€2,869 | -56.7% |
| Financial charges | 65/66B | €22,270 | €18,572 | -€3,698 | -16.6% |
| Recurring financial charges | 65 | €22,270 | €18,572 | -€3,698 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €43,283 | €26,640 | -€16,643 | -38.5% |
| Income taxes | 67/77 | €6,639 | €10,073 | +€3,434 | +51.7% |
| Profit (loss) for the period | 9904 | €36,644 | €16,566 | -€20,078 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,644 | €16,566 | -€20,078 | -54.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.