ETB MEUBLES: 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.
ETB MEUBLES
Largest movements
- Tangible fixed assets +€596,096
up €596,096 (+1,626%), from €36,666 to €632,762
of which Land and buildings: +€589,413
- Stocks and contracts +€157,411
up €157,411 (+28.7%), from €548,081 to €705,492
- Deferred charges and accrued income -€148,069
down €148,069 (-97.0%), from €152,629 to €4,560
- Cash -€99,288
down €99,288 (-85.8%), from €115,683 to €16,395
mainly Investment in fixed assets (net) (-€613,126) and Stocks and contracts (-€157,411)
- Receivables within one year +€32,699
up €32,699 (+20.2%), from €161,871 to €194,570
of which Trade receivables: +€32,698
- Debts after one year +€457,192
new in 2025: €457,192
- Trade debts -€124,613
down €124,613 (-90.9%), from €137,013 to €12,400
- Other debts +€104,470
new in 2025: €104,470
- Profit (loss) carried forward +€59,192
up €59,192 (+6.9%), from €856,232 to €915,424
- Current portion of long-term debt +€42,808
new in 2025: €42,808
- Gross operating margin +€111,957
up €111,957, from -€6,503 to €105,454
- Write-downs -€7,018
no longer reported in 2025 (was €7,018)
- Financial income +€4,339
up €4,339 (+586%), from €740 to €5,079
of which Financial income: +€4,339
- Other operating charges -€1,339
down €1,339 (-41.1%), from €3,261 to €1,922
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 | €1,026,980 | €1,565,829 | +€538,849 | +52.5% |
| Fixed assets | 21/28 | €48,716 | €644,812 | +€596,096 | +1,224% |
| Tangible fixed assets | 22/27 | €36,666 | €632,762 | +€596,096 | +1,626% |
| Land and buildings | 22 | - | €589,413 | +€589,413 | |
| Plant, machinery and equipment | 23 | €2,149 | €796 | -€1,353 | -63.0% |
| Furniture and vehicles | 24 | €34,517 | €42,553 | +€8,036 | +23.3% |
| Financial fixed assets | 28 | €12,050 | €12,050 | = | 0.0% |
| Current assets | 29/58 | €978,264 | €921,017 | -€57,247 | -5.9% |
| Stocks and contracts in progress | 3 | €548,081 | €705,492 | +€157,411 | +28.7% |
| Stocks | 30/36 | €548,081 | €705,492 | +€157,411 | +28.7% |
| Amounts receivable within one year | 40/41 | €161,871 | €194,570 | +€32,699 | +20.2% |
| Trade receivables | 40 | €152,426 | €185,124 | +€32,698 | +21.5% |
| Other amounts receivable | 41 | €9,445 | €9,446 | +€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €115,683 | €16,395 | -€99,288 | -85.8% |
| Deferred charges and accrued income | 490/1 | €152,629 | €4,560 | -€148,069 | -97.0% |
| Total equity and liabilities | 10/49 | €1,026,980 | €1,565,829 | +€538,849 | +52.5% |
| Equity | 10/15 | €883,732 | €942,924 | +€59,192 | +6.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €856,232 | €915,424 | +€59,192 | +6.9% |
| Amounts payable | 17/49 | €143,248 | €622,905 | +€479,657 | +335% |
| Amounts payable after more than one year | 17 | - | €457,192 | +€457,192 | |
| Financial debts | 170/4 | - | €457,192 | +€457,192 | |
| Amounts payable within one year | 42/48 | €143,135 | €165,713 | +€22,578 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | - | €42,808 | +€42,808 | |
| Trade debts | 44 | €137,013 | €12,400 | -€124,613 | -90.9% |
| Suppliers | 440/4 | €137,013 | €12,400 | -€124,613 | -90.9% |
| Taxes, remuneration and social security | 45 | €6,122 | €6,035 | -€87 | -1.4% |
| Taxes | 450/3 | €2,078 | €6,035 | +€3,957 | +190% |
| Remuneration and social security | 454/9 | €4,044 | - | -€4,044 | |
| Other amounts payable | 47/48 | - | €104,470 | +€104,470 | |
| Accrued charges and deferred income | 492/3 | €113 | - | -€113 | |
| Remuneration, social security and pensions | 62 | €29,257 | €30,116 | +€859 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,022 | €17,030 | -€992 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,018 | - | -€7,018 | |
| Other operating charges | 640/8 | €3,261 | €1,922 | -€1,339 | -41.1% |
| Non-recurring operating charges | 66A | €19,653 | - | -€19,653 | |
| Gross operating margin | 9900 | -€6,503 | €105,454 | +€111,957 | |
| Operating profit (loss) | 9901 | -€83,714 | €56,386 | +€140,100 | |
| Financial income | 75/76B | €740 | €5,079 | +€4,339 | +586% |
| Recurring financial income | 75 | €740 | €5,079 | +€4,339 | +586% |
| Non-recurring financial income | 76B | €740 | €5,079 | +€4,339 | +586% |
| Financial charges | 65/66B | €2,445 | €1,716 | -€729 | -29.8% |
| Recurring financial charges | 65 | €2,445 | €1,716 | -€729 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | -€85,419 | €59,749 | +€145,168 | |
| Income taxes | 67/77 | €554 | €557 | +€3 | +0.5% |
| Profit (loss) for the period | 9904 | -€85,973 | €59,192 | +€145,165 | |
| Profit (loss) for the period to be appropriated | 9905 | -€85,973 | €59,192 | +€145,165 |
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 26 October 2026 via checked.be.