EHTSHAM TRADING: 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.
EHTSHAM TRADING
Largest movements
- Receivables within one year +€67,957
up €67,957 (+263%), from €25,798 to €93,755
of which Trade receivables: +€68,612
- Tangible fixed assets +€19,706
up €19,706 (+51.6%), from €38,221 to €57,927
- Stocks and contracts +€11,276
up €11,276 (+13.8%), from €81,592 to €92,867
- Cash +€9,479
up €9,479 (+111%), from €8,536 to €18,016
mainly Trade debts (+€102,182) and Net result for the year (+€14,491)
- Trade debts +€102,182
up €102,182 (+470%), from €21,757 to €123,939
- Profit (loss) carried forward +€14,491
up €14,491 (+28.8%), from €50,368 to €64,858
- Debts after one year -€8,772
down €8,772 (-40.1%), from €21,885 to €13,113
- Tax, wage and social debts +€3,063
up €3,063 (+71.6%), from €4,278 to €7,341
- Other debts -€3,000
down €3,000 (-4.9%), from €61,682 to €58,682
- Gross operating margin +€32,996
up €32,996, from -€7,189 to €25,807
- Depreciation +€4,812
up €4,812 (+84.3%), from €5,707 to €10,519
- Financial charges -€3,109
no longer reported in 2024 (was €3,109)
- Other operating charges -€1,621
down €1,621 (-72.4%), from €2,239 to €618
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,220 | €287,565 | +€108,345 | +60.5% |
| Fixed assets | 21/28 | €63,221 | €82,927 | +€19,706 | +31.2% |
| Tangible fixed assets | 22/27 | €38,221 | €57,927 | +€19,706 | +51.6% |
| Furniture and vehicles | 24 | €38,221 | €57,927 | +€19,706 | +51.6% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €115,999 | €204,638 | +€88,639 | +76.4% |
| Stocks and contracts in progress | 3 | €81,592 | €92,867 | +€11,276 | +13.8% |
| Stocks | 30/36 | €81,592 | €92,867 | +€11,276 | +13.8% |
| Amounts receivable within one year | 40/41 | €25,798 | €93,755 | +€67,957 | +263% |
| Trade receivables | 40 | €25,143 | €93,755 | +€68,612 | +273% |
| Other amounts receivable | 41 | €655 | - | -€655 | |
| Cash at bank and in hand | 54/58 | €8,536 | €18,016 | +€9,479 | +111% |
| Deferred charges and accrued income | 490/1 | €73 | - | -€73 | |
| Total equity and liabilities | 10/49 | €179,220 | €287,565 | +€108,345 | +60.5% |
| Equity | 10/15 | €61,228 | €75,718 | +€14,491 | +23.7% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,368 | €64,858 | +€14,491 | +28.8% |
| Amounts payable | 17/49 | €117,992 | €211,847 | +€93,855 | +79.5% |
| Amounts payable after more than one year | 17 | €21,885 | €13,113 | -€8,772 | -40.1% |
| Financial debts | 170/4 | €21,885 | €13,113 | -€8,772 | -40.1% |
| Amounts payable within one year | 42/48 | €96,108 | €198,734 | +€102,626 | +107% |
| Current portion of amounts payable after more than one year | 42 | €8,390 | €8,772 | +€381 | +4.5% |
| Trade debts | 44 | €21,757 | €123,939 | +€102,182 | +470% |
| Suppliers | 440/4 | €21,757 | €123,939 | +€102,182 | +470% |
| Taxes, remuneration and social security | 45 | €4,278 | €7,341 | +€3,063 | +71.6% |
| Taxes | 450/3 | €4,278 | €7,341 | +€3,063 | +71.6% |
| Other amounts payable | 47/48 | €61,682 | €58,682 | -€3,000 | -4.9% |
| Non-recurring operating income | 76A | - | €27,397 | +€27,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,707 | €10,519 | +€4,812 | +84.3% |
| Other operating charges | 640/8 | €2,239 | €618 | -€1,621 | -72.4% |
| Gross operating margin | 9900 | -€7,189 | €25,807 | +€32,996 | |
| Operating profit (loss) | 9901 | -€15,136 | €14,670 | +€29,805 | |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €3,109 | - | -€3,109 | |
| Recurring financial charges | 65 | €3,109 | - | -€3,109 | |
| Profit (loss) for the period before taxes | 9903 | -€18,223 | €14,670 | +€32,892 | |
| Income taxes | 67/77 | €318 | €179 | -€139 | -43.7% |
| Profit (loss) for the period | 9904 | -€18,541 | €14,491 | +€33,031 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,541 | €14,491 | +€33,031 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.