E-TIME: 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-TIME
Largest movements
- Tangible fixed assets -€52,542
down €52,542 (-15.2%), from €346,463 to €293,921
of which Land and buildings: -€26,781
- Stocks and contracts +€30,615
up €30,615 (+17.5%), from €174,861 to €205,476
- Financial fixed assets +€15,750
new in 2025: €15,750
- Receivables within one year -€13,053
down €13,053 (-39.1%), from €33,425 to €20,372
- Reserves -€31,477
down €31,477 (-9.9%), from €319,192 to €287,715
of which Distributable reserves: -€31,477
- Other debts +€16,943
up €16,943 (+12.8%), from €132,216 to €149,159
- Debts after one year -€8,333
down €8,333 (-16.0%), from €52,083 to €43,750
- Gross operating margin -€20,506
down €20,506 (-39.4%), from €51,983 to €31,478
- Depreciation -€2,601
down €2,601 (-4.7%), from €55,143 to €52,542
- Other operating charges -€745
down €745 (-7.7%), from €9,697 to €8,952
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 | €562,056 | €541,401 | -€20,655 | -3.7% |
| Fixed assets | 21/28 | €346,463 | €309,671 | -€36,792 | -10.6% |
| Tangible fixed assets | 22/27 | €346,463 | €293,921 | -€52,542 | -15.2% |
| Land and buildings | 22 | €259,448 | €232,667 | -€26,781 | -10.3% |
| Plant, machinery and equipment | 23 | €70,727 | €49,567 | -€21,160 | -29.9% |
| Furniture and vehicles | 24 | €16,288 | €11,687 | -€4,601 | -28.2% |
| Financial fixed assets | 28 | - | €15,750 | +€15,750 | |
| Current assets | 29/58 | €215,592 | €231,730 | +€16,137 | +7.5% |
| Stocks and contracts in progress | 3 | €174,861 | €205,476 | +€30,615 | +17.5% |
| Stocks | 30/36 | €174,861 | €205,476 | +€30,615 | +17.5% |
| Amounts receivable within one year | 40/41 | €33,425 | €20,372 | -€13,053 | -39.1% |
| Trade receivables | 40 | €33,425 | €20,372 | -€13,053 | -39.1% |
| Cash at bank and in hand | 54/58 | €3,696 | €2,023 | -€1,673 | -45.3% |
| Deferred charges and accrued income | 490/1 | €3,611 | €3,859 | +€248 | +6.9% |
| Total equity and liabilities | 10/49 | €562,056 | €541,401 | -€20,655 | -3.7% |
| Equity | 10/15 | €338,192 | €306,715 | -€31,477 | -9.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €319,192 | €287,715 | -€31,477 | -9.9% |
| Tax-exempt reserves | 132 | €21,718 | €21,718 | = | 0.0% |
| Distributable reserves | 133 | €297,474 | €265,997 | -€31,477 | -10.6% |
| Amounts payable | 17/49 | €223,864 | €234,686 | +€10,822 | +4.8% |
| Amounts payable after more than one year | 17 | €52,083 | €43,750 | -€8,333 | -16.0% |
| Financial debts | 170/4 | €52,083 | €43,750 | -€8,333 | -16.0% |
| Amounts payable within one year | 42/48 | €171,781 | €190,936 | +€19,156 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €8,333 | €8,333 | = | 0.0% |
| Trade debts | 44 | €20,800 | €22,312 | +€1,512 | +7.3% |
| Suppliers | 440/4 | €20,800 | €22,312 | +€1,512 | +7.3% |
| Taxes, remuneration and social security | 45 | €10,431 | €11,131 | +€700 | +6.7% |
| Taxes | 450/3 | €8,181 | €8,881 | +€700 | +8.6% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €132,216 | €149,159 | +€16,943 | +12.8% |
| Non-recurring operating income | 76A | €7,250 | €0 | -€7,250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,143 | €52,542 | -€2,601 | -4.7% |
| Other operating charges | 640/8 | €9,697 | €8,952 | -€745 | -7.7% |
| Gross operating margin | 9900 | €51,983 | €31,478 | -€20,506 | -39.4% |
| Operating profit (loss) | 9901 | -€12,857 | -€30,017 | -€17,160 | -133.5% |
| Financial income | 75/76B | €47 | €64 | +€17 | +36.1% |
| Recurring financial income | 75 | €47 | €64 | +€17 | +36.1% |
| Financial charges | 65/66B | €1,229 | €1,525 | +€295 | +24.0% |
| Recurring financial charges | 65 | €1,229 | €1,525 | +€295 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,039 | -€31,477 | -€17,438 | -124.2% |
| Profit (loss) for the period | 9904 | -€14,039 | -€31,477 | -€17,438 | -124.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,039 | -€31,477 | -€17,438 | -124.2% |
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 29 September 2026 via checked.be.