ETCETERA: 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.
ETCETERA
Largest movements
- Tangible fixed assets +€43,435
up €43,435 (+388.7%), from €11,174 to €54,609
of which Furniture and vehicles: +€43,592
- Stocks and contracts -€11,805
down €11,805 (-20.8%), from €56,778 to €44,973
- Cash -€1,158
down €1,158 (-11.7%), from €9,870 to €8,712
mainly Investment in fixed assets (net) (-€47,948) and Current portion of long-term debt (-€6,500)
- Other debts +€29,799
up €29,799 (+36.5%), from €81,534 to €111,332
- Profit (loss) carried forward +€10,236
up €10,236 (+21.0%), from -€48,844 to -€38,608
- Current portion of long-term debt -€6,500
no longer reported in 2025 (was €6,500)
- Trade debts -€1,512
down €1,512 (-61.3%), from €2,465 to €953
- Tax, wage and social debts -€1,434
down €1,434 (-33.4%), from €4,301 to €2,867
- Gross operating margin +€22,728
up €22,728, from -€4,443 to €18,285
- Depreciation -€4,134
down €4,134 (-47.8%), from €8,647 to €4,513
- Write-downs +€2,804
up €2,804, from -€1,795 to €1,009
- Other operating charges -€1,462
down €1,462 (-73.3%), from €1,995 to €534
- Financial charges +€1,434
up €1,434 (+606.4%), from €237 to €1,671
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 | €78,060 | €108,595 | +€30,534 | +39.1% |
| Fixed assets | 21/28 | €11,174 | €54,609 | +€43,435 | +388.7% |
| Tangible fixed assets | 22/27 | €11,174 | €54,609 | +€43,435 | +388.7% |
| Land and buildings | 22 | €304 | €147 | -€157 | -51.6% |
| Furniture and vehicles | 24 | €10,870 | €54,462 | +€43,592 | +401.0% |
| Current assets | 29/58 | €66,887 | €53,986 | -€12,901 | -19.3% |
| Stocks and contracts in progress | 3 | €56,778 | €44,973 | -€11,805 | -20.8% |
| Stocks | 30/36 | €56,778 | €44,973 | -€11,805 | -20.8% |
| Amounts receivable within one year | 40/41 | €9 | €186 | +€177 | +1961.5% |
| Other amounts receivable | 41 | €9 | €186 | +€177 | +1961.5% |
| Cash at bank and in hand | 54/58 | €9,870 | €8,712 | -€1,158 | -11.7% |
| Deferred charges and accrued income | 490/1 | €230 | €115 | -€116 | -50.2% |
| Total equity and liabilities | 10/49 | €78,060 | €108,595 | +€30,534 | +39.1% |
| Equity | 10/15 | -€16,831 | -€6,595 | +€10,236 | +60.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €13,421 | €13,421 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,233 | €5,233 | = | 0.0% |
| Distributable reserves | 133 | €8,188 | €8,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,844 | -€38,608 | +€10,236 | +21.0% |
| Amounts payable | 17/49 | €94,892 | €115,190 | +€20,298 | +21.4% |
| Amounts payable within one year | 42/48 | €94,800 | €115,152 | +€20,353 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €6,500 | - | -€6,500 | |
| Trade debts | 44 | €2,465 | €953 | -€1,512 | -61.3% |
| Suppliers | 440/4 | €2,465 | €953 | -€1,512 | -61.3% |
| Taxes, remuneration and social security | 45 | €4,301 | €2,867 | -€1,434 | -33.4% |
| Taxes | 450/3 | €4,301 | €2,867 | -€1,434 | -33.4% |
| Other amounts payable | 47/48 | €81,534 | €111,332 | +€29,799 | +36.5% |
| Accrued charges and deferred income | 492/3 | €92 | €37 | -€55 | -59.4% |
| Non-recurring operating income | 76A | - | €13,355 | +€13,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,647 | €4,513 | -€4,134 | -47.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,795 | €1,009 | +€2,804 | |
| Other operating charges | 640/8 | €1,995 | €534 | -€1,462 | -73.3% |
| Gross operating margin | 9900 | -€4,443 | €18,285 | +€22,728 | |
| Operating profit (loss) | 9901 | -€13,290 | €12,230 | +€25,520 | |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €237 | €1,671 | +€1,434 | +606.4% |
| Recurring financial charges | 65 | €237 | €1,671 | +€1,434 | +606.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,522 | €10,559 | +€24,081 | |
| Income taxes | 67/77 | €491 | €323 | -€168 | -34.2% |
| Profit (loss) for the period | 9904 | -€14,013 | €10,236 | +€24,249 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,013 | €10,236 | +€24,249 |
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 5 October 2026 via checked.be.