ETABO: what changed
ETABO
Largest movements
- Stocks and contracts +€620,597
new in 2025: €620,597
- Cash -€576,758
down €576,758 (-97.5%), from €591,434 to €14,675
mainly Stocks and contracts (-€620,597) and Receivables within one year (-€42,599)
- Receivables within one year +€42,599
up €42,599 (+73.4%), from €58,010 to €100,609
of which Trade receivables: +€47,468
- Other debts +€99,675
up €99,675 (+191%), from €52,097 to €151,773
- Tax, wage and social debts -€29,400
down €29,400 (-80.5%), from €36,528 to €7,128
of which Taxes: -€29,838
- Reserves +€16,069
up €16,069 (+4.1%), from €391,975 to €408,044
of which Distributable reserves: +€16,069
- Gross operating margin -€384,367
down €384,367 (-63.2%), from €607,855 to €223,488
- Taxes -€105,899
down €105,899 (-95.0%), from €111,456 to €5,558
- Staff costs +€21,255
up €21,255 (+12.3%), from €172,480 to €193,735
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 | €651,381 | €737,012 | +€85,631 | +13.1% |
| Fixed assets | 21/28 | €900 | €0 | -€900 | -100% |
| Financial fixed assets | 28 | €900 | €0 | -€900 | -100% |
| Current assets | 29/58 | €650,481 | €737,012 | +€86,531 | +13.3% |
| Stocks and contracts in progress | 3 | - | €620,597 | +€620,597 | |
| Stocks | 30/36 | - | €620,597 | +€620,597 | |
| Amounts receivable within one year | 40/41 | €58,010 | €100,609 | +€42,599 | +73.4% |
| Trade receivables | 40 | €35,032 | €82,500 | +€47,468 | +136% |
| Other amounts receivable | 41 | €22,978 | €18,109 | -€4,869 | -21.2% |
| Cash at bank and in hand | 54/58 | €591,434 | €14,675 | -€576,758 | -97.5% |
| Deferred charges and accrued income | 490/1 | €1,038 | €1,131 | +€93 | +8.9% |
| Total equity and liabilities | 10/49 | €651,381 | €737,012 | +€85,631 | +13.1% |
| Equity | 10/15 | €561,376 | €577,445 | +€16,069 | +2.9% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €391,975 | €408,044 | +€16,069 | +4.1% |
| Tax-exempt reserves | 132 | €6,653 | €6,653 | = | 0.0% |
| Distributable reserves | 133 | €385,321 | €401,391 | +€16,069 | +4.2% |
| Profit (loss) carried forward | 14 | €59,401 | €59,401 | = | 0.0% |
| Amounts payable | 17/49 | €90,005 | €159,567 | +€69,561 | +77.3% |
| Amounts payable within one year | 42/48 | €90,005 | €159,567 | +€69,561 | +77.3% |
| Trade debts | 44 | €1,380 | €666 | -€714 | -51.7% |
| Suppliers | 440/4 | €1,380 | €666 | -€714 | -51.7% |
| Taxes, remuneration and social security | 45 | €36,528 | €7,128 | -€29,400 | -80.5% |
| Taxes | 450/3 | €31,775 | €1,938 | -€29,838 | -93.9% |
| Remuneration and social security | 454/9 | €4,753 | €5,190 | +€437 | +9.2% |
| Other amounts payable | 47/48 | €52,097 | €151,773 | +€99,675 | +191% |
| Non-recurring operating income | 76A | €337 | €50 | -€287 | -85.1% |
| Remuneration, social security and pensions | 62 | €172,480 | €193,735 | +€21,255 | +12.3% |
| Other operating charges | 640/8 | €1,050 | €4,614 | +€3,564 | +339% |
| Gross operating margin | 9900 | €607,855 | €223,488 | -€384,367 | -63.2% |
| Operating profit (loss) | 9901 | €434,325 | €25,140 | -€409,185 | -94.2% |
| Financial income | 75/76B | €338 | €753 | +€415 | +123% |
| Recurring financial income | 75 | €338 | €753 | +€415 | +123% |
| Financial charges | 65/66B | €3,995 | €4,265 | +€270 | +6.8% |
| Recurring financial charges | 65 | €3,995 | €4,265 | +€270 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €430,668 | €21,627 | -€409,041 | -95.0% |
| Income taxes | 67/77 | €111,456 | €5,558 | -€105,899 | -95.0% |
| Profit (loss) for the period | 9904 | €319,211 | €16,069 | -€303,142 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €319,211 | €16,069 | -€303,142 | -95.0% |
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 7 November 2026 via checked.be.