ETECH: 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.
ETECH
Largest movements
- Cash -€234,722
down €234,722 (-79.2%), from €296,435 to €61,713
mainly Trade debts (-€700,369) and Other debts (-€401,956)
- Receivables within one year -€220,424
down €220,424 (-8.6%), from €2.6m to €2.3m
of which Trade receivables: -€424,189
- Contributions +€900,000
up €900,000 (+4306.2%), from €20,900 to €920,900
- Trade debts -€700,369
down €700,369 (-29.5%), from €2.4m to €1.7m
- Other debts -€401,956
down €401,956 (-70.3%), from €571,460 to €169,505
- Provisions -€391,484
down €391,484 (-93.9%), from €417,113 to €25,629
- Accrued charges and deferred income +€201,468
up €201,468 (+8822.1%), from €2,284 to €203,751
- Provisions -€827,971
down €827,971, from €417,113 to -€410,859
- Gross operating margin +€201,008
up €201,008 (+36.2%), from €555,218 to €756,226
- Other operating charges +€57,839
up €57,839 (+361.0%), from €16,022 to €73,862
- Staff costs +€55,359
up €55,359 (+6.6%), from €841,277 to €896,636
- Financial income -€9,279
down €9,279 (-99.4%), from €9,332 to €53
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 | €3,466,072 | €2,950,783 | -€515,289 | -14.9% |
| Fixed assets | 21/28 | €236,543 | €211,087 | -€25,456 | -10.8% |
| Tangible fixed assets | 22/27 | €217,091 | €191,634 | -€25,456 | -11.7% |
| Plant, machinery and equipment | 23 | €61,272 | €49,140 | -€12,133 | -19.8% |
| Furniture and vehicles | 24 | €15,634 | €19,024 | +€3,391 | +21.7% |
| Other tangible fixed assets | 26 | €140,185 | €123,471 | -€16,714 | -11.9% |
| Financial fixed assets | 28 | €19,452 | €19,452 | = | 0.0% |
| Current assets | 29/58 | €3,229,529 | €2,739,696 | -€489,833 | -15.2% |
| Stocks and contracts in progress | 3 | €330,242 | €303,509 | -€26,732 | -8.1% |
| Stocks | 30/36 | €330,242 | €303,509 | -€26,732 | -8.1% |
| Amounts receivable within one year | 40/41 | €2,564,881 | €2,344,457 | -€220,424 | -8.6% |
| Trade receivables | 40 | €2,473,992 | €2,049,803 | -€424,189 | -17.1% |
| Other amounts receivable | 41 | €90,889 | €294,654 | +€203,765 | +224.2% |
| Cash at bank and in hand | 54/58 | €296,435 | €61,713 | -€234,722 | -79.2% |
| Deferred charges and accrued income | 490/1 | €37,972 | €30,017 | -€7,955 | -20.9% |
| Total equity and liabilities | 10/49 | €3,466,072 | €2,950,783 | -€515,289 | -14.9% |
| Equity | 10/15 | -€1,038,169 | -€48,271 | +€989,898 | +95.4% |
| Contributions | 10/11 | €20,900 | €920,900 | +€900,000 | +4306.2% |
| Reserves | 13 | €229,250 | €229,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €229,250 | €229,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,288,319 | -€1,198,421 | +€89,898 | +7.0% |
| Provisions and deferred taxes | 16 | €417,113 | €25,629 | -€391,484 | -93.9% |
| Provisions for liabilities and charges | 160/5 | €417,113 | €25,629 | -€391,484 | -93.9% |
| Other liabilities and charges | 164/5 | €417,113 | €25,629 | -€391,484 | -93.9% |
| Amounts payable | 17/49 | €4,087,129 | €2,973,425 | -€1.1m | -27.2% |
| Amounts payable after more than one year | 17 | €425,035 | €264,074 | -€160,960 | -37.9% |
| Financial debts | 170/4 | €425,035 | €264,074 | -€160,960 | -37.9% |
| Amounts payable within one year | 42/48 | €3,659,810 | €2,505,599 | -€1.2m | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €199,451 | €160,965 | -€38,485 | -19.3% |
| Financial debts | 43 | €375,000 | €417,348 | +€42,348 | +11.3% |
| Credit institutions | 430/8 | €375,000 | €417,348 | +€42,348 | +11.3% |
| Trade debts | 44 | €2,375,026 | €1,674,657 | -€700,369 | -29.5% |
| Suppliers | 440/4 | €2,375,026 | €1,674,657 | -€700,369 | -29.5% |
| Taxes, remuneration and social security | 45 | €138,874 | €83,125 | -€55,749 | -40.1% |
| Taxes | 450/3 | €9,134 | €2,717 | -€6,417 | -70.3% |
| Remuneration and social security | 454/9 | €129,740 | €80,408 | -€49,332 | -38.0% |
| Other amounts payable | 47/48 | €571,460 | €169,505 | -€401,956 | -70.3% |
| Accrued charges and deferred income | 492/3 | €2,284 | €203,751 | +€201,468 | +8822.1% |
| Remuneration, social security and pensions | 62 | €841,277 | €896,636 | +€55,359 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,605 | €52,111 | -€494 | -0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €417,113 | -€410,859 | -€827,971 | |
| Other operating charges | 640/8 | €16,022 | €73,862 | +€57,839 | +361.0% |
| Gross operating margin | 9900 | €555,218 | €756,226 | +€201,008 | +36.2% |
| Operating profit (loss) | 9901 | -€771,799 | €144,476 | +€916,275 | |
| Financial income | 75/76B | €9,332 | €53 | -€9,279 | -99.4% |
| Recurring financial income | 75 | €9,332 | €53 | -€9,279 | -99.4% |
| Financial charges | 65/66B | €47,300 | €53,439 | +€6,139 | +13.0% |
| Recurring financial charges | 65 | €47,300 | €53,439 | +€6,139 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | -€809,767 | €91,090 | +€900,857 | |
| Income taxes | 67/77 | €9,286 | €1,192 | -€8,094 | -87.2% |
| Profit (loss) for the period | 9904 | -€819,053 | €89,898 | +€908,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€819,053 | €89,898 | +€908,951 |
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 2 October 2026 via checked.be.