ETAS: 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.
ETAS
Largest movements
- Receivables within one year +€56,762
up €56,762 (+282%), from €20,153 to €76,916
of which Other amounts receivable: +€43,581
- Tangible fixed assets -€18,472
down €18,472 (-4.1%), from €448,186 to €429,714
of which Land and buildings: -€17,285
- Cash +€8,693
up €8,693 (+164%), from €5,300 to €13,993
mainly Trade debts (+€35,666) and Depreciation (+€20,977)
- Trade debts +€35,666
up €35,666 (+10.1%), from €353,736 to €389,402
- Reserves +€12,131
up €12,131 (+79.3%), from €15,299 to €27,430
- Tax, wage and social debts +€5,514
up €5,514 (+268%), from €2,054 to €7,568
- Financial charges -€15,737
down €15,737 (-64.2%), from €24,530 to €8,793
- Taxes +€5,476
up €5,476 (+262%), from €2,092 to €7,568
- Gross operating margin -€4,538
down €4,538 (-8.4%), from €53,801 to €49,263
- Financial income +€1,978
up €1,978 (+472%), from €419 to €2,397
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 | €476,217 | €521,880 | +€45,663 | +9.6% |
| Fixed assets | 21/28 | €448,186 | €429,714 | -€18,472 | -4.1% |
| Tangible fixed assets | 22/27 | €448,186 | €429,714 | -€18,472 | -4.1% |
| Land and buildings | 22 | €444,058 | €426,773 | -€17,285 | -3.9% |
| Plant, machinery and equipment | 23 | €33 | €924 | +€891 | +2,718% |
| Furniture and vehicles | 24 | €4,095 | €2,017 | -€2,078 | -50.8% |
| Current assets | 29/58 | €28,031 | €92,166 | +€64,136 | +229% |
| Amounts receivable within one year | 40/41 | €20,153 | €76,916 | +€56,762 | +282% |
| Trade receivables | 40 | €10,315 | €23,496 | +€13,181 | +128% |
| Other amounts receivable | 41 | €9,838 | €53,420 | +€43,581 | +443% |
| Cash at bank and in hand | 54/58 | €5,300 | €13,993 | +€8,693 | +164% |
| Deferred charges and accrued income | 490/1 | €2,577 | €1,258 | -€1,320 | -51.2% |
| Total equity and liabilities | 10/49 | €476,217 | €521,880 | +€45,663 | +9.6% |
| Equity | 10/15 | €33,899 | €46,030 | +€12,131 | +35.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,299 | €27,430 | +€12,131 | +79.3% |
| Distributable reserves | 133 | €15,299 | €27,430 | +€12,131 | +79.3% |
| Amounts payable | 17/49 | €442,317 | €475,850 | +€33,532 | +7.6% |
| Amounts payable after more than one year | 17 | €3,880 | - | -€3,880 | |
| Financial debts | 170/4 | €3,880 | - | -€3,880 | |
| Amounts payable within one year | 42/48 | €438,437 | €475,850 | +€37,413 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €7,647 | €3,880 | -€3,767 | -49.3% |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Credit institutions | 430/8 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €353,736 | €389,402 | +€35,666 | +10.1% |
| Suppliers | 440/4 | €353,736 | €389,402 | +€35,666 | +10.1% |
| Taxes, remuneration and social security | 45 | €2,054 | €7,568 | +€5,514 | +268% |
| Taxes | 450/3 | €2,054 | €7,568 | +€5,514 | +268% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,314 | €20,977 | -€337 | -1.6% |
| Other operating charges | 640/8 | €2,296 | €1,771 | -€525 | -22.9% |
| Non-recurring operating charges | 66A | - | €420 | +€420 | |
| Gross operating margin | 9900 | €53,801 | €49,263 | -€4,538 | -8.4% |
| Operating profit (loss) | 9901 | €30,191 | €26,095 | -€4,096 | -13.6% |
| Financial income | 75/76B | €419 | €2,397 | +€1,978 | +472% |
| Recurring financial income | 75 | €419 | €2,397 | +€1,978 | +472% |
| Financial charges | 65/66B | €24,530 | €8,793 | -€15,737 | -64.2% |
| Recurring financial charges | 65 | €24,530 | €8,793 | -€15,737 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €6,080 | €19,699 | +€13,619 | +224% |
| Income taxes | 67/77 | €2,092 | €7,568 | +€5,476 | +262% |
| Profit (loss) for the period | 9904 | €3,988 | €12,131 | +€8,143 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €3,988 | €12,131 | +€8,143 | +204% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.