E-TECH BAJO: 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-TECH BAJO
Largest movements
- Receivables within one year +€39,736
up €39,736 (+175%), from €22,703 to €62,439
of which Trade receivables: +€25,781
- Tangible fixed assets +€25,883
up €25,883 (+5.3%), from €490,717 to €516,600
of which Plant, machinery and equipment: +€19,127
- Cash +€9,093
up €9,093 (+49.4%), from €18,419 to €27,511
mainly Depreciation (+€40,306) and Net result for the year (+€39,209)
- Reserves +€39,209
up €39,209 (+305%), from €12,871 to €52,079
- Trade debts +€36,617
up €36,617 (+331%), from €11,049 to €47,666
- Debts after one year -€9,160
down €9,160 (-2.0%), from €452,480 to €443,320
- Current portion of long-term debt +€8,230
up €8,230 (+18.0%), from €45,612 to €53,842
- Gross operating margin +€21,176
up €21,176 (+26.7%), from €79,207 to €100,383
- Depreciation +€14,866
up €14,866 (+58.4%), from €25,440 to €40,306
- Financial charges -€9,294
down €9,294 (-47.7%), from €19,496 to €10,202
of which Financial charges: -€5,695
- Taxes +€7,040
up €7,040 (+324%), from €2,176 to €9,216
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 | €532,124 | €606,670 | +€74,546 | +14.0% |
| Fixed assets | 21/28 | €490,717 | €516,600 | +€25,883 | +5.3% |
| Tangible fixed assets | 22/27 | €490,717 | €516,600 | +€25,883 | +5.3% |
| Land and buildings | 22 | €362,696 | €354,781 | -€7,914 | -2.2% |
| Plant, machinery and equipment | 23 | €63,564 | €82,691 | +€19,127 | +30.1% |
| Furniture and vehicles | 24 | €2,657 | €6,448 | +€3,791 | +143% |
| Leasing and similar rights | 25 | €61,801 | €72,680 | +€10,879 | +17.6% |
| Current assets | 29/58 | €41,407 | €90,070 | +€48,663 | +118% |
| Amounts receivable within one year | 40/41 | €22,703 | €62,439 | +€39,736 | +175% |
| Trade receivables | 40 | €14,277 | €40,057 | +€25,781 | +181% |
| Other amounts receivable | 41 | €8,427 | €22,382 | +€13,955 | +166% |
| Cash at bank and in hand | 54/58 | €18,419 | €27,511 | +€9,093 | +49.4% |
| Deferred charges and accrued income | 490/1 | €285 | €120 | -€165 | -57.9% |
| Total equity and liabilities | 10/49 | €532,124 | €606,670 | +€74,546 | +14.0% |
| Equity | 10/15 | €13,871 | €53,079 | +€39,209 | +283% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,871 | €52,079 | +€39,209 | +305% |
| Distributable reserves | 133 | €12,871 | €52,079 | +€39,209 | +305% |
| Amounts payable | 17/49 | €518,253 | €553,591 | +€35,338 | +6.8% |
| Amounts payable after more than one year | 17 | €452,480 | €443,320 | -€9,160 | -2.0% |
| Financial debts | 170/4 | €452,480 | €443,320 | -€9,160 | -2.0% |
| Amounts payable within one year | 42/48 | €65,773 | €110,271 | +€44,498 | +67.7% |
| Current portion of amounts payable after more than one year | 42 | €45,612 | €53,842 | +€8,230 | +18.0% |
| Trade debts | 44 | €11,049 | €47,666 | +€36,617 | +331% |
| Suppliers | 440/4 | €11,049 | €47,666 | +€36,617 | +331% |
| Taxes, remuneration and social security | 45 | €8,094 | €4,667 | -€3,427 | -42.3% |
| Taxes | 450/3 | €8,094 | €4,667 | -€3,427 | -42.3% |
| Other amounts payable | 47/48 | €1,018 | €4,097 | +€3,078 | +302% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,440 | €40,306 | +€14,866 | +58.4% |
| Other operating charges | 640/8 | €1,085 | €1,752 | +€667 | +61.5% |
| Non-recurring operating charges | 66A | €18,850 | €0 | -€18,850 | -100% |
| Gross operating margin | 9900 | €79,207 | €100,383 | +€21,176 | +26.7% |
| Operating profit (loss) | 9901 | €33,833 | €58,325 | +€24,492 | +72.4% |
| Financial income | 75/76B | €458 | €301 | -€157 | -34.2% |
| Recurring financial income | 75 | €458 | €301 | -€157 | -34.2% |
| Financial charges | 65/66B | €19,496 | €10,202 | -€9,294 | -47.7% |
| Recurring financial charges | 65 | €15,897 | €10,202 | -€5,695 | -35.8% |
| Non-recurring financial charges | 66B | €3,598 | €0 | -€3,598 | -100% |
| Profit (loss) for the period before taxes | 9903 | €14,795 | €48,424 | +€33,629 | +227% |
| Income taxes | 67/77 | €2,176 | €9,216 | +€7,040 | +324% |
| Profit (loss) for the period | 9904 | €12,620 | €39,209 | +€26,589 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €12,620 | €39,209 | +€26,589 | +211% |
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.