ETEC ENGINEERING: what changed
What changed
ETEC ENGINEERING
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€55,263
2024 · €40,970+€14,293
Equity
€121,971
2024 · €121,971
Cash
€74,678
2024 · €125,164-€50,486
Balance sheet total
€397,115
2024 · €225,902+€171,213
Largest movements
Assets
- Tangible fixed assets +€222,945
up €222,945 (+294%), from €75,796 to €298,741
of which Land and buildings: +€240,706
- Cash -€50,486
down €50,486 (-40.3%), from €125,164 to €74,678
mainly Investment in fixed assets (net) (-€244,685) and Contributions, distributions and other (-€55,263)
Equity and liabilities
- Debts after one year +€142,059
up €142,059 (+364%), from €38,976 to €181,035
- Other debts +€25,258
up €25,258 (+84.0%), from €30,079 to €55,337
Income statement
- Gross operating margin +€19,006
up €19,006 (+24.0%), from €79,133 to €98,139
- Taxes +€2,077
up €2,077 (+15.0%), from €13,836 to €15,913
- Depreciation +€1,512
up €1,512 (+7.5%), from €20,228 to €21,740
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€40,970
Gross operating margin
+€19,006
Depreciation
-€1,512
Other operating charges
-€201
Financial charges
-€923
Taxes
-€2,077
Result 2025
€55,263
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€103,922
Investment
-€244,685
Financing
+€90,277
Cash 2024
€125,164
From operations (derived)
+€103,922
Net result for the year
+€55,263
Depreciation
+€21,740
Receivables within one year
+€1,418
Smaller working-capital items
+€243
Other debts
+€25,258
Investment (derived)
-€244,685
Investment in fixed assets (net)
-€244,685
Financing
+€90,277
Debts after one year
+€142,059
Current portion of long-term debt
+€3,481
Contributions, distributions and other
-€55,263
Cash 2025
€74,678
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,902 | €397,115 | +€171,213 | +75.8% |
| Fixed assets | 21/28 | €75,841 | €298,786 | +€222,945 | +294% |
| Tangible fixed assets | 22/27 | €75,796 | €298,741 | +€222,945 | +294% |
| Land and buildings | 22 | - | €240,706 | +€240,706 | |
| Plant, machinery and equipment | 23 | - | €863 | +€863 | |
| Furniture and vehicles | 24 | €75,796 | €57,172 | -€18,624 | -24.6% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €150,061 | €98,329 | -€51,732 | -34.5% |
| Amounts receivable within one year | 40/41 | €21,390 | €19,972 | -€1,418 | -6.6% |
| Trade receivables | 40 | €18,227 | €18,675 | +€448 | +2.5% |
| Other amounts receivable | 41 | €3,163 | €1,297 | -€1,866 | -59.0% |
| Cash at bank and in hand | 54/58 | €125,164 | €74,678 | -€50,486 | -40.3% |
| Deferred charges and accrued income | 490/1 | €3,507 | €3,679 | +€172 | +4.9% |
| Total equity and liabilities | 10/49 | €225,902 | €397,115 | +€171,213 | +75.8% |
| Equity | 10/15 | €121,971 | €121,971 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €117,971 | €117,971 | = | 0.0% |
| Distributable reserves | 133 | €117,971 | €117,971 | = | 0.0% |
| Amounts payable | 17/49 | €103,931 | €275,144 | +€171,213 | +165% |
| Amounts payable after more than one year | 17 | €38,976 | €181,035 | +€142,059 | +364% |
| Financial debts | 170/4 | €38,976 | €181,035 | +€142,059 | +364% |
| Amounts payable within one year | 42/48 | €62,964 | €91,742 | +€28,778 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €18,040 | €21,521 | +€3,481 | +19.3% |
| Trade debts | 44 | €2,888 | €3,426 | +€538 | +18.6% |
| Suppliers | 440/4 | €2,888 | €3,426 | +€538 | +18.6% |
| Taxes, remuneration and social security | 45 | €11,957 | €11,458 | -€499 | -4.2% |
| Taxes | 450/3 | €11,957 | €11,458 | -€499 | -4.2% |
| Other amounts payable | 47/48 | €30,079 | €55,337 | +€25,258 | +84.0% |
| Accrued charges and deferred income | 492/3 | €1,991 | €2,367 | +€376 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,228 | €21,740 | +€1,512 | +7.5% |
| Other operating charges | 640/8 | €1,127 | €1,328 | +€201 | +17.8% |
| Gross operating margin | 9900 | €79,133 | €98,139 | +€19,006 | +24.0% |
| Operating profit (loss) | 9901 | €57,778 | €75,071 | +€17,293 | +29.9% |
| Financial charges | 65/66B | €2,972 | €3,895 | +€923 | +31.1% |
| Recurring financial charges | 65 | €2,972 | €3,895 | +€923 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €54,806 | €71,176 | +€16,370 | +29.9% |
| Income taxes | 67/77 | €13,836 | €15,913 | +€2,077 | +15.0% |
| Profit (loss) for the period | 9904 | €40,970 | €55,263 | +€14,293 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,970 | €55,263 | +€14,293 | +34.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.