ETC: what changed
Two fiscal 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.
ETC
Largest movements
- Cash -€7,017
down €7,017 (-17.4%), from €40,303 to €33,286
mainly Investment in fixed assets (net) (-€7,000) and Receivables within one year (-€1,748)
- Tangible fixed assets +€7,000
up €7,000 (+6.1%), from €114,493 to €121,493
of which Other tangible fixed assets: +€7,000
- Receivables within one year +€1,748
up €1,748 (+111.8%), from €1,565 to €3,313
of which Trade receivables: +€1,349
- Other debts +€1,663
up €1,663 (+200.9%), from €828 to €2,491
- Gross operating margin -€2,639
down €2,639 (-62.1%), from €4,253 to €1,614
- Other operating charges +€50
up €50 (+3.1%), from €1,622 to €1,672
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 | €157,436 | €159,203 | +€1,768 | +1.1% |
| Fixed assets | 21/28 | €114,543 | €121,543 | +€7,000 | +6.1% |
| Tangible fixed assets | 22/27 | €114,493 | €121,493 | +€7,000 | +6.1% |
| Land and buildings | 22 | €96,266 | €96,266 | = | 0.0% |
| Other tangible fixed assets | 26 | €18,227 | €25,227 | +€7,000 | +38.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €42,893 | €37,660 | -€5,232 | -12.2% |
| Amounts receivable within one year | 40/41 | €1,565 | €3,313 | +€1,748 | +111.8% |
| Trade receivables | 40 | €744 | €2,093 | +€1,349 | +181.2% |
| Other amounts receivable | 41 | €820 | €1,220 | +€400 | +48.7% |
| Cash at bank and in hand | 54/58 | €40,303 | €33,286 | -€7,017 | -17.4% |
| Deferred charges and accrued income | 490/1 | €1,025 | €1,062 | +€36 | +3.5% |
| Total equity and liabilities | 10/49 | €157,436 | €159,203 | +€1,768 | +1.1% |
| Equity | 10/15 | €156,608 | €156,712 | +€104 | +0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,156 | €136,261 | +€104 | +0.1% |
| Amounts payable | 17/49 | €828 | €2,491 | +€1,663 | +200.9% |
| Amounts payable within one year | 42/48 | €828 | €2,491 | +€1,663 | +200.9% |
| Other amounts payable | 47/48 | €828 | €2,491 | +€1,663 | +200.9% |
| Other operating charges | 640/8 | €1,622 | €1,672 | +€50 | +3.1% |
| Gross operating margin | 9900 | €4,253 | €1,614 | -€2,639 | -62.1% |
| Operating profit (loss) | 9901 | €2,631 | -€58 | -€2,689 | |
| Financial income | 75/76B | €227 | €203 | -€24 | -10.8% |
| Recurring financial income | 75 | €227 | €203 | -€24 | -10.8% |
| Financial charges | 65/66B | €35 | €41 | +€5 | +15.5% |
| Recurring financial charges | 65 | €35 | €41 | +€5 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €2,823 | €104 | -€2,719 | -96.3% |
| Profit (loss) for the period | 9904 | €2,823 | €104 | -€2,719 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,823 | €104 | -€2,719 | -96.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.