ETANCH'TOIT: 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.
ETANCH'TOIT
Largest movements
- Receivables within one year -€68,203
down €68,203 (-86.8%), from €78,609 to €10,406
of which Trade receivables: -€38,451
- Tangible fixed assets -€25,613
down €25,613 (-56.0%), from €45,706 to €20,094
of which Furniture and vehicles: -€23,696
- Financial fixed assets +€4,347
up €4,347 (+3,506%), from €124 to €4,471
- Stocks and contracts +€4,000
new in 2025: €4,000
- Cash -€2,126
down €2,126 (-19.8%), from €10,717 to €8,592
mainly Net result for the year (-€56,795) and Trade debts (-€29,189)
- Profit (loss) carried forward -€56,795
down €56,795, from €19,340 to -€37,455
- Trade debts -€29,189
down €29,189 (-55.0%), from €53,095 to €23,906
- Current portion of long-term debt +€7,209
up €7,209 (+55.1%), from €13,092 to €20,301
- Debts after one year -€5,076
down €5,076 (-14.3%), from €35,541 to €30,464
- Tax, wage and social debts -€3,020
down €3,020 (-73.8%), from €4,089 to €1,069
of which Remuneration and social security: -€4,018
- Gross operating margin -€116,407
down €116,407, from €105,202 to -€11,204
- Staff costs -€95,994
down €95,994 (-92.5%), from €103,725 to €7,730
- Other operating charges +€12,668
up €12,668 (+6,620%), from €191 to €12,859
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 | €135,157 | €48,286 | -€86,871 | -64.3% |
| Fixed assets | 21/28 | €45,830 | €24,565 | -€21,265 | -46.4% |
| Tangible fixed assets | 22/27 | €45,706 | €20,094 | -€25,613 | -56.0% |
| Plant, machinery and equipment | 23 | €2,778 | €861 | -€1,917 | -69.0% |
| Furniture and vehicles | 24 | €42,929 | €19,233 | -€23,696 | -55.2% |
| Financial fixed assets | 28 | €124 | €4,471 | +€4,347 | +3,506% |
| Current assets | 29/58 | €89,326 | €23,721 | -€65,605 | -73.4% |
| Stocks and contracts in progress | 3 | - | €4,000 | +€4,000 | |
| Stocks | 30/36 | - | €4,000 | +€4,000 | |
| Amounts receivable within one year | 40/41 | €78,609 | €10,406 | -€68,203 | -86.8% |
| Trade receivables | 40 | €45,346 | €6,895 | -€38,451 | -84.8% |
| Other amounts receivable | 41 | €33,264 | €3,511 | -€29,752 | -89.4% |
| Cash at bank and in hand | 54/58 | €10,717 | €8,592 | -€2,126 | -19.8% |
| Deferred charges and accrued income | 490/1 | €0 | €723 | +€723 | |
| Total equity and liabilities | 10/49 | €135,157 | €48,286 | -€86,871 | -64.3% |
| Equity | 10/15 | €29,340 | -€27,455 | -€56,795 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,340 | -€37,455 | -€56,795 | |
| Amounts payable | 17/49 | €105,817 | €75,741 | -€30,076 | -28.4% |
| Amounts payable after more than one year | 17 | €35,541 | €30,464 | -€5,076 | -14.3% |
| Financial debts | 170/4 | €35,541 | €30,464 | -€5,076 | -14.3% |
| Amounts payable within one year | 42/48 | €70,276 | €45,276 | -€25,000 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €13,092 | €20,301 | +€7,209 | +55.1% |
| Trade debts | 44 | €53,095 | €23,906 | -€29,189 | -55.0% |
| Suppliers | 440/4 | €53,095 | €23,906 | -€29,189 | -55.0% |
| Taxes, remuneration and social security | 45 | €4,089 | €1,069 | -€3,020 | -73.8% |
| Taxes | 450/3 | €71 | €1,069 | +€998 | +1,403% |
| Remuneration and social security | 454/9 | €4,018 | €0 | -€4,018 | -100% |
| Remuneration, social security and pensions | 62 | €103,725 | €7,730 | -€95,994 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,008 | €23,013 | -€995 | -4.1% |
| Other operating charges | 640/8 | €191 | €12,859 | +€12,668 | +6,620% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €105,202 | -€11,204 | -€116,407 | |
| Operating profit (loss) | 9901 | -€22,722 | -€54,807 | -€32,085 | -141% |
| Financial income | 75/76B | €435 | €838 | +€403 | +92.7% |
| Recurring financial income | 75 | €435 | €338 | -€97 | -22.3% |
| Non-recurring financial income | 76B | - | €500 | +€500 | |
| Financial charges | 65/66B | €2,712 | €2,826 | +€113 | +4.2% |
| Recurring financial charges | 65 | €2,712 | €2,826 | +€113 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€25,000 | -€56,795 | -€31,795 | -127% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€25,000 | -€56,795 | -€31,795 | -127% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,000 | -€56,795 | -€31,795 | -127% |
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 21 October 2026 via checked.be.