ETCART: 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.
ETCART
Largest movements
- Receivables within one year -€30,668
down €30,668 (-65.4%), from €46,925 to €16,257
of which Trade receivables: -€22,351
- Intangible fixed assets +€8,389
new in 2024: €8,389
- Cash -€2,632
down €2,632 (-87.2%), from €3,018 to €386
mainly Net result for the year (-€56,095) and Trade debts (-€18,933)
- Tangible fixed assets -€696
down €696 (-64.5%), from €1,079 to €384
- Deferred charges and accrued income -€537
down €537 (-57.8%), from €928 to €391
- Profit (loss) carried forward -€56,095
down €56,095 (-14.8%), from -€377,944 to -€434,039
- Other debts +€39,187
up €39,187 (+10.3%), from €379,541 to €418,728
- Trade debts -€18,933
down €18,933 (-72.8%), from €26,015 to €7,082
- Investment grants +€7,000
new in 2024: €7,000
- Tax, wage and social debts +€2,697
up €2,697 (+22.6%), from €11,915 to €14,612
of which Remuneration and social security: +€3,050
- Staff costs -€28,671
down €28,671 (-34.5%), from €83,013 to €54,342
- Gross operating margin -€7,869
down €7,869, from €7,686 to -€183
- Depreciation -€249
down €249 (-26.3%), from €945 to €696
- Other operating charges +€168
up €168 (+27.8%), from €604 to €771
- Taxes -€136
no longer reported in 2024 (was €136)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,001 | €25,857 | -€26,143 | -50.3% |
| Fixed assets | 21/28 | €1,129 | €8,823 | +€7,694 | +681.3% |
| Intangible fixed assets | 21 | - | €8,389 | +€8,389 | |
| Tangible fixed assets | 22/27 | €1,079 | €384 | -€696 | -64.5% |
| Furniture and vehicles | 24 | €1,079 | €384 | -€696 | -64.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €50,871 | €17,035 | -€33,837 | -66.5% |
| Amounts receivable within one year | 40/41 | €46,925 | €16,257 | -€30,668 | -65.4% |
| Trade receivables | 40 | €36,028 | €13,677 | -€22,351 | -62.0% |
| Other amounts receivable | 41 | €10,896 | €2,580 | -€8,317 | -76.3% |
| Cash at bank and in hand | 54/58 | €3,018 | €386 | -€2,632 | -87.2% |
| Deferred charges and accrued income | 490/1 | €928 | €391 | -€537 | -57.8% |
| Total equity and liabilities | 10/49 | €52,001 | €25,857 | -€26,143 | -50.3% |
| Equity | 10/15 | -€365,470 | -€414,565 | -€49,095 | -13.4% |
| Contributions | 10/11 | €12,400 | €12,474 | +€74 | +0.6% |
| Reserves | 13 | €74 | - | -€74 | |
| Non-distributable reserves | 130/1 | €74 | - | -€74 | |
| Reserves not available under the articles | 1311 | €74 | - | -€74 | |
| Profit (loss) carried forward | 14 | -€377,944 | -€434,039 | -€56,095 | -14.8% |
| Investment grants | 15 | - | €7,000 | +€7,000 | |
| Amounts payable | 17/49 | €417,471 | €440,422 | +€22,951 | +5.5% |
| Amounts payable within one year | 42/48 | €417,471 | €440,422 | +€22,951 | +5.5% |
| Trade debts | 44 | €26,015 | €7,082 | -€18,933 | -72.8% |
| Suppliers | 440/4 | €26,015 | €7,082 | -€18,933 | -72.8% |
| Taxes, remuneration and social security | 45 | €11,915 | €14,612 | +€2,697 | +22.6% |
| Taxes | 450/3 | €443 | €90 | -€353 | -79.7% |
| Remuneration and social security | 454/9 | €11,472 | €14,522 | +€3,050 | +26.6% |
| Other amounts payable | 47/48 | €379,541 | €418,728 | +€39,187 | +10.3% |
| Remuneration, social security and pensions | 62 | €83,013 | €54,342 | -€28,671 | -34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €696 | -€249 | -26.3% |
| Other operating charges | 640/8 | €604 | €771 | +€168 | +27.8% |
| Gross operating margin | 9900 | €7,686 | -€183 | -€7,869 | |
| Operating profit (loss) | 9901 | -€76,875 | -€55,993 | +€20,882 | +27.2% |
| Financial income | 75/76B | €0 | €8 | +€7 | +10700.0% |
| Recurring financial income | 75 | €0 | €8 | +€7 | +10700.0% |
| Financial charges | 65/66B | €117 | €109 | -€7 | -6.3% |
| Recurring financial charges | 65 | €117 | €109 | -€7 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€76,992 | -€56,095 | +€20,897 | +27.1% |
| Income taxes | 67/77 | €136 | - | -€136 | |
| Profit (loss) for the period | 9904 | -€77,128 | -€56,095 | +€21,033 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,128 | -€56,095 | +€21,033 | +27.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.