ET Group: what changed
ET Group
Largest movements
- Receivables within one year -€19,470
down €19,470 (-59.2%), from €32,911 to €13,441
of which Trade receivables: -€21,646
- Cash -€5,959
down €5,959 (-100%), from €5,959 to €0
mainly Other debts (-€14,472) and Trade debts (-€12,411)
- Tangible fixed assets -€5,231
down €5,231 (-25.1%), from €20,881 to €15,650
of which Furniture and vehicles: -€7,096
- Deferred charges and accrued income +€3,445
up €3,445 (+1,335%), from €258 to €3,703
- Other debts -€14,472
down €14,472 (-67.8%), from €21,330 to €6,859
- Trade debts -€12,411
down €12,411 (-59.7%), from €20,774 to €8,363
- Tax, wage and social debts -€6,614
down €6,614 (-86.5%), from €7,647 to €1,033
- Debts after one year +€4,300
up €4,300 (+893%), from €481 to €4,781
- Current portion of long-term debt +€2,800
up €2,800 (+150%), from €1,863 to €4,663
- Gross operating margin +€9,547
up €9,547 (+80.8%), from €11,822 to €21,368
- Depreciation +€5,444
up €5,444 (+290%), from €1,878 to €7,321
- Financial charges +€2,497
up €2,497 (+315%), from €792 to €3,289
- Other operating charges -€1,705
down €1,705 (-46.2%), from €3,693 to €1,988
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,010 | €32,794 | -€27,216 | -45.4% |
| Fixed assets | 21/28 | €20,881 | €15,650 | -€5,231 | -25.1% |
| Tangible fixed assets | 22/27 | €20,881 | €15,650 | -€5,231 | -25.1% |
| Plant, machinery and equipment | 23 | - | €1,864 | +€1,864 | |
| Furniture and vehicles | 24 | €20,881 | €13,785 | -€7,096 | -34.0% |
| Current assets | 29/58 | €39,129 | €17,144 | -€21,984 | -56.2% |
| Amounts receivable within one year | 40/41 | €32,911 | €13,441 | -€19,470 | -59.2% |
| Trade receivables | 40 | €32,911 | €11,265 | -€21,646 | -65.8% |
| Other amounts receivable | 41 | - | €2,176 | +€2,176 | |
| Cash at bank and in hand | 54/58 | €5,959 | €0 | -€5,959 | -100% |
| Deferred charges and accrued income | 490/1 | €258 | €3,703 | +€3,445 | +1,335% |
| Total equity and liabilities | 10/49 | €60,010 | €32,794 | -€27,216 | -45.4% |
| Equity | 10/15 | €7,913 | €5,136 | -€2,777 | -35.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,413 | €2,636 | -€2,777 | -51.3% |
| Amounts payable | 17/49 | €52,096 | €27,657 | -€24,439 | -46.9% |
| Amounts payable after more than one year | 17 | €481 | €4,781 | +€4,300 | +893% |
| Financial debts | 170/4 | €481 | €4,781 | +€4,300 | +893% |
| Amounts payable within one year | 42/48 | €51,615 | €22,876 | -€28,739 | -55.7% |
| Current portion of amounts payable after more than one year | 42 | €1,863 | €4,663 | +€2,800 | +150% |
| Financial debts | 43 | - | €1,958 | +€1,958 | |
| Credit institutions | 430/8 | - | €1,958 | +€1,958 | |
| Trade debts | 44 | €20,774 | €8,363 | -€12,411 | -59.7% |
| Suppliers | 440/4 | €20,774 | €8,363 | -€12,411 | -59.7% |
| Taxes, remuneration and social security | 45 | €7,647 | €1,033 | -€6,614 | -86.5% |
| Taxes | 450/3 | €7,647 | €1,033 | -€6,614 | -86.5% |
| Other amounts payable | 47/48 | €21,330 | €6,859 | -€14,472 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,878 | €7,321 | +€5,444 | +290% |
| Other operating charges | 640/8 | €3,693 | €1,988 | -€1,705 | -46.2% |
| Non-recurring operating charges | 66A | - | €9,175 | +€9,175 | |
| Gross operating margin | 9900 | €11,822 | €21,368 | +€9,547 | +80.8% |
| Operating profit (loss) | 9901 | €6,251 | €2,884 | -€3,367 | -53.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -85.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -85.7% |
| Financial charges | 65/66B | €792 | €3,289 | +€2,497 | +315% |
| Recurring financial charges | 65 | €792 | €3,289 | +€2,497 | +315% |
| Profit (loss) for the period before taxes | 9903 | €5,458 | -€405 | -€5,864 | |
| Income taxes | 67/77 | €2,533 | €2,371 | -€161 | -6.4% |
| Profit (loss) for the period | 9904 | €2,926 | -€2,777 | -€5,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,926 | -€2,777 | -€5,702 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.