E&TM Consulting: 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&TM Consulting
Largest movements
- Cash +€158,589
up €158,589 (+89.4%), from €177,330 to €335,919
mainly Net result for the year (+€108,215) and Tax, wage and social debts (+€60,976)
- Tangible fixed assets -€12,326
down €12,326 (-49.7%), from €24,816 to €12,489
- Receivables within one year +€7,583
up €7,583 (+33.7%), from €22,484 to €30,067
of which Other amounts receivable: +€6,116
- Reserves +€257,816
new in 2025: €257,816
- Profit (loss) carried forward -€164,561
no longer reported in 2025 (was €164,561)
- Tax, wage and social debts +€60,976
up €60,976 (+105%), from €58,209 to €119,185
- Gross operating margin -€53,270
down €53,270 (-24.4%), from €218,756 to €165,486
- Depreciation +€12,029
up €12,029 (+1,312%), from €916 to €12,945
- Taxes -€7,519
down €7,519 (-14.6%), from €51,352 to €43,834
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 | €226,478 | €380,512 | +€154,034 | +68.0% |
| Fixed assets | 21/28 | €24,816 | €12,489 | -€12,326 | -49.7% |
| Tangible fixed assets | 22/27 | €24,816 | €12,489 | -€12,326 | -49.7% |
| Furniture and vehicles | 24 | €24,816 | €12,489 | -€12,326 | -49.7% |
| Current assets | 29/58 | €201,662 | €368,023 | +€166,360 | +82.5% |
| Amounts receivable within one year | 40/41 | €22,484 | €30,067 | +€7,583 | +33.7% |
| Trade receivables | 40 | €15,240 | €16,706 | +€1,467 | +9.6% |
| Other amounts receivable | 41 | €7,245 | €13,361 | +€6,116 | +84.4% |
| Cash at bank and in hand | 54/58 | €177,330 | €335,919 | +€158,589 | +89.4% |
| Deferred charges and accrued income | 490/1 | €1,848 | €2,036 | +€188 | +10.2% |
| Total equity and liabilities | 10/49 | €226,478 | €380,512 | +€154,034 | +68.0% |
| Equity | 10/15 | €167,061 | €260,316 | +€93,255 | +55.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €257,816 | +€257,816 | |
| Distributable reserves | 133 | - | €257,816 | +€257,816 | |
| Profit (loss) carried forward | 14 | €164,561 | - | -€164,561 | |
| Amounts payable | 17/49 | €59,417 | €120,196 | +€60,779 | +102% |
| Amounts payable within one year | 42/48 | €59,417 | €120,196 | +€60,779 | +102% |
| Trade debts | 44 | €1,208 | €1,011 | -€197 | -16.3% |
| Suppliers | 440/4 | €1,208 | €1,011 | -€197 | -16.3% |
| Taxes, remuneration and social security | 45 | €58,209 | €119,185 | +€60,976 | +105% |
| Taxes | 450/3 | €58,209 | €119,185 | +€60,976 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €916 | €12,945 | +€12,029 | +1,312% |
| Other operating charges | 640/8 | €2,016 | €746 | -€1,270 | -63.0% |
| Gross operating margin | 9900 | €218,756 | €165,486 | -€53,270 | -24.4% |
| Operating profit (loss) | 9901 | €215,823 | €151,795 | -€64,028 | -29.7% |
| Financial income | 75/76B | €107 | €304 | +€197 | +184% |
| Recurring financial income | 75 | €107 | €304 | +€197 | +184% |
| Financial charges | 65/66B | €16 | €50 | +€33 | +206% |
| Recurring financial charges | 65 | €16 | €50 | +€33 | +206% |
| Profit (loss) for the period before taxes | 9903 | €215,914 | €152,049 | -€63,865 | -29.6% |
| Income taxes | 67/77 | €51,352 | €43,834 | -€7,519 | -14.6% |
| Profit (loss) for the period | 9904 | €164,561 | €108,215 | -€56,346 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €164,561 | €108,215 | -€56,346 | -34.2% |
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 24 October 2026 via checked.be.