ETAM SERVICES: 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.
ETAM SERVICES
Largest movements
- Cash +€49,200
up €49,200 (+12.4%), from €397,397 to €446,598
mainly Net result for the year (+€79,427) and Receivables within one year (+€6,970)
- Receivables within one year -€6,970
down €6,970 (-28.6%), from €24,394 to €17,424
- Reserves +€79,427
up €79,427 (+22.7%), from €349,641 to €429,068
- Tax, wage and social debts -€22,999
down €22,999 (-47.4%), from €48,492 to €25,493
- Other debts -€13,366
down €13,366 (-58.8%), from €22,748 to €9,382
- Gross operating margin -€113,519
down €113,519 (-49.9%), from €227,284 to €113,765
- Taxes -€36,304
down €36,304 (-54.0%), from €67,230 to €30,925
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 | €421,791 | €464,022 | +€42,231 | +10.0% |
| Current assets | 29/58 | €421,791 | €464,022 | +€42,231 | +10.0% |
| Amounts receivable within one year | 40/41 | €24,394 | €17,424 | -€6,970 | -28.6% |
| Trade receivables | 40 | €24,394 | €17,424 | -€6,970 | -28.6% |
| Cash at bank and in hand | 54/58 | €397,397 | €446,598 | +€49,200 | +12.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €421,791 | €464,022 | +€42,231 | +10.0% |
| Equity | 10/15 | €349,641 | €429,068 | +€79,427 | +22.7% |
| Reserves | 13 | €349,641 | €429,068 | +€79,427 | +22.7% |
| Distributable reserves | 133 | €349,641 | €429,068 | +€79,427 | +22.7% |
| Amounts payable | 17/49 | €72,150 | €34,954 | -€37,197 | -51.6% |
| Amounts payable within one year | 42/48 | €72,150 | €34,954 | -€37,197 | -51.6% |
| Trade debts | 44 | €910 | €78 | -€831 | -91.4% |
| Suppliers | 440/4 | €910 | €78 | -€831 | -91.4% |
| Taxes, remuneration and social security | 45 | €48,492 | €25,493 | -€22,999 | -47.4% |
| Taxes | 450/3 | €48,492 | €25,493 | -€22,999 | -47.4% |
| Other amounts payable | 47/48 | €22,748 | €9,382 | -€13,366 | -58.8% |
| Remuneration, social security and pensions | 62 | €2,243 | €1,915 | -€328 | -14.6% |
| Other operating charges | 640/8 | €451 | €468 | +€16 | +3.6% |
| Gross operating margin | 9900 | €227,284 | €113,765 | -€113,519 | -49.9% |
| Operating profit (loss) | 9901 | €224,590 | €111,383 | -€113,207 | -50.4% |
| Financial charges | 65/66B | €1,835 | €1,030 | -€805 | -43.8% |
| Recurring financial charges | 65 | €1,835 | €1,030 | -€805 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €222,755 | €110,353 | -€112,403 | -50.5% |
| Income taxes | 67/77 | €67,230 | €30,925 | -€36,304 | -54.0% |
| Profit (loss) for the period | 9904 | €155,525 | €79,427 | -€76,098 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €155,525 | €79,427 | -€76,098 | -48.9% |
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 9 October 2026 via checked.be.