ETERNO: 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.
ETERNO
Largest movements
- Tangible fixed assets +€44,180
up €44,180 (+14.2%), from €312,014 to €356,194
of which Land and buildings: +€54,807
- Receivables within one year -€13,326
down €13,326 (-17.9%), from €74,313 to €60,987
of which Trade receivables: -€20,949
- Cash -€8,629
down €8,629 (-21.9%), from €39,313 to €30,684
mainly Investment in fixed assets (net) (-€68,511) and Tax, wage and social debts (-€32,733)
- Accrued charges and deferred income +€42,064
new in 2025: €42,064
- Tax, wage and social debts -€32,733
down €32,733 (-96.8%), from €33,807 to €1,074
of which Taxes: -€31,417
- Reserves +€28,978
up €28,978 (+16.3%), from €177,530 to €206,508
of which Distributable reserves: +€28,978
- Current portion of long-term debt -€18,922
down €18,922 (-39.6%), from €47,778 to €28,855
- Debts after one year -€8,182
down €8,182 (-4.8%), from €169,222 to €161,041
- Depreciation +€10,111
up €10,111 (+60.0%), from €16,854 to €26,965
- Staff costs +€9,697
up €9,697 (+13.3%), from €73,117 to €82,813
- Gross operating margin +€9,403
up €9,403 (+5.9%), from €159,103 to €168,506
- Financial charges +€6,235
up €6,235 (+253%), from €2,469 to €8,704
- Taxes -€5,006
down €5,006 (-24.3%), from €20,603 to €15,598
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.
Derived cash bridge
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 | €449,589 | €468,481 | +€18,892 | +4.2% |
| Fixed assets | 21/28 | €316,082 | €357,628 | +€41,547 | +13.1% |
| Intangible fixed assets | 21 | €3,495 | €863 | -€2,633 | -75.3% |
| Tangible fixed assets | 22/27 | €312,014 | €356,194 | +€44,180 | +14.2% |
| Land and buildings | 22 | €275,037 | €329,844 | +€54,807 | +19.9% |
| Plant, machinery and equipment | 23 | €8,880 | €7,119 | -€1,761 | -19.8% |
| Furniture and vehicles | 24 | €28,098 | €19,231 | -€8,867 | -31.6% |
| Financial fixed assets | 28 | €572 | €572 | = | 0.0% |
| Current assets | 29/58 | €133,508 | €110,853 | -€22,655 | -17.0% |
| Stocks and contracts in progress | 3 | €12,949 | €11,360 | -€1,589 | -12.3% |
| Stocks | 30/36 | €12,949 | €11,360 | -€1,589 | -12.3% |
| Amounts receivable within one year | 40/41 | €74,313 | €60,987 | -€13,326 | -17.9% |
| Trade receivables | 40 | €38,044 | €17,095 | -€20,949 | -55.1% |
| Other amounts receivable | 41 | €36,269 | €43,891 | +€7,623 | +21.0% |
| Cash at bank and in hand | 54/58 | €39,313 | €30,684 | -€8,629 | -21.9% |
| Deferred charges and accrued income | 490/1 | €6,932 | €7,821 | +€889 | +12.8% |
| Total equity and liabilities | 10/49 | €449,589 | €468,481 | +€18,892 | +4.2% |
| Equity | 10/15 | €196,130 | €225,108 | +€28,978 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,530 | €206,508 | +€28,978 | +16.3% |
| Tax-exempt reserves | 132 | €750 | €750 | = | 0.0% |
| Distributable reserves | 133 | €176,780 | €205,758 | +€28,978 | +16.4% |
| Amounts payable | 17/49 | €253,459 | €243,373 | -€10,086 | -4.0% |
| Amounts payable after more than one year | 17 | €169,222 | €161,041 | -€8,182 | -4.8% |
| Financial debts | 170/4 | €169,222 | €161,041 | -€8,182 | -4.8% |
| Amounts payable within one year | 42/48 | €84,237 | €40,269 | -€43,968 | -52.2% |
| Current portion of amounts payable after more than one year | 42 | €47,778 | €28,855 | -€18,922 | -39.6% |
| Trade debts | 44 | €2,653 | €10,340 | +€7,687 | +290% |
| Suppliers | 440/4 | €2,653 | €10,340 | +€7,687 | +290% |
| Taxes, remuneration and social security | 45 | €33,807 | €1,074 | -€32,733 | -96.8% |
| Taxes | 450/3 | €32,127 | €710 | -€31,417 | -97.8% |
| Remuneration and social security | 454/9 | €1,680 | €364 | -€1,315 | -78.3% |
| Accrued charges and deferred income | 492/3 | - | €42,064 | +€42,064 | |
| Remuneration, social security and pensions | 62 | €73,117 | €82,813 | +€9,697 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,854 | €26,965 | +€10,111 | +60.0% |
| Other operating charges | 640/8 | €6,209 | €6,238 | +€29 | +0.5% |
| Gross operating margin | 9900 | €159,103 | €168,506 | +€9,403 | +5.9% |
| Operating profit (loss) | 9901 | €62,924 | €52,490 | -€10,434 | -16.6% |
| Financial income | 75/76B | €746 | €790 | +€44 | +5.9% |
| Recurring financial income | 75 | €746 | €790 | +€44 | +5.9% |
| Financial charges | 65/66B | €2,469 | €8,704 | +€6,235 | +253% |
| Recurring financial charges | 65 | €2,469 | €8,704 | +€6,235 | +253% |
| Profit (loss) for the period before taxes | 9903 | €61,200 | €44,576 | -€16,625 | -27.2% |
| Income taxes | 67/77 | €20,603 | €15,598 | -€5,006 | -24.3% |
| Profit (loss) for the period | 9904 | €40,597 | €28,978 | -€11,619 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,597 | €28,978 | -€11,619 | -28.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.