ETERPHIL: 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.
What changed
ETERPHIL
NACE 43.410, Roofing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,097
2024 · €141,536+€9,561
Equity
€565,221
2024 · €786,467-€221,246
Cash
€500,151
2024 · €348,416+€151,734
Balance sheet total
€1.3m
2024 · €1.1m+€140,193
Largest movements
Assets
- Cash +€151,734
up €151,734 (+43.5%), from €348,416 to €500,151
mainly Other debts (+€343,393) and Net result for the year (+€151,097)
- Tangible fixed assets -€81,848
down €81,848 (-16.8%), from €486,456 to €404,608
- Receivables within one year +€55,480
up €55,480 (+75.1%), from €73,903 to €129,383
of which Trade receivables: +€59,970
- Deferred charges and accrued income +€18,217
up €18,217 (+564%), from €3,227 to €21,444
Equity and liabilities
- Other debts +€343,393
up €343,393 (+434%), from €79,068 to €422,461
- Reserves -€224,609
down €224,609 (-39.6%), from €566,886 to €342,277
of which Distributable reserves: -€222,000
- Debts after one year -€68,411
down €68,411 (-43.4%), from €157,519 to €89,108
of which Financial debts: -€68,411
- Advances received +€61,624
new in 2025: €61,624
- Trade debts +€13,729
up €13,729 (+82.5%), from €16,646 to €30,375
Income statement
- Staff costs -€29,120
down €29,120 (-9.2%), from €318,025 to €288,905
- Gross operating margin -€17,899
down €17,899 (-3.0%), from €605,345 to €587,446
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.
Result 2024
€141,536
Gross operating margin
-€17,899
Staff costs
+€29,120
Depreciation
-€1,274
Write-downs
-€971
Other operating charges
-€2,320
Financial income
+€5,036
Financial charges
+€3,613
Taxes
-€5,743
Result 2025
€151,097
raises the resultlowers the result
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.
From operations
+€601,551
Investment
-€17,029
Financing
-€432,788
Cash 2024
€348,416
From operations (derived)
+€601,551
Net result for the year
+€151,097
Depreciation
+€97,877
Stocks and contracts
+€4,389
Receivables within one year
-€55,480
Deferred charges and accrued income
-€18,217
Provisions
-€667
Trade debts
+€13,729
Tax, wage and social debts
+€6,734
Advances received
+€61,624
Other debts
+€343,393
Accrued charges and deferred income
-€2,929
Investment (derived)
-€17,029
Investment in fixed assets (net)
-€16,029
Current investments
-€1,000
Financing
-€432,788
Debts after one year
-€68,411
Current portion of long-term debt
+€1,951
Short-term financial debts
+€6,014
Contributions, distributions and other
-€372,343
Cash 2025
€500,151
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,144,227 | €1,284,420 | +€140,193 | +12.3% |
| Fixed assets | 21/28 | €486,765 | €404,916 | -€81,848 | -16.8% |
| Tangible fixed assets | 22/27 | €486,456 | €404,608 | -€81,848 | -16.8% |
| Land and buildings | 22 | €277,487 | €243,658 | -€33,829 | -12.2% |
| Plant, machinery and equipment | 23 | €47,396 | €39,990 | -€7,406 | -15.6% |
| Furniture and vehicles | 24 | €90,414 | €68,021 | -€22,394 | -24.8% |
| Leasing and similar rights | 25 | €71,160 | €52,940 | -€18,220 | -25.6% |
| Financial fixed assets | 28 | €309 | €309 | = | 0.0% |
| Current assets | 29/58 | €657,462 | €879,504 | +€222,041 | +33.8% |
| Stocks and contracts in progress | 3 | €27,915 | €23,526 | -€4,389 | -15.7% |
| Stocks | 30/36 | €27,915 | €23,526 | -€4,389 | -15.7% |
| Amounts receivable within one year | 40/41 | €73,903 | €129,383 | +€55,480 | +75.1% |
| Trade receivables | 40 | €34,554 | €94,524 | +€59,970 | +174% |
| Other amounts receivable | 41 | €39,350 | €34,859 | -€4,491 | -11.4% |
| Current investments | 50/53 | €204,000 | €205,000 | +€1,000 | +0.5% |
| Cash at bank and in hand | 54/58 | €348,416 | €500,151 | +€151,734 | +43.5% |
| Deferred charges and accrued income | 490/1 | €3,227 | €21,444 | +€18,217 | +564% |
| Total equity and liabilities | 10/49 | €1,144,227 | €1,284,420 | +€140,193 | +12.3% |
| Equity | 10/15 | €786,467 | €565,221 | -€221,246 | -28.1% |
| Contributions | 10/11 | €44,600 | €44,600 | = | 0.0% |
| Reserves | 13 | €566,886 | €342,277 | -€224,609 | -39.6% |
| Tax-exempt reserves | 132 | €10,426 | €7,817 | -€2,609 | -25.0% |
| Distributable reserves | 133 | €556,460 | €334,460 | -€222,000 | -39.9% |
| Profit (loss) carried forward | 14 | €167,474 | €167,479 | +€5 | 0.0% |
| Investment grants | 15 | €7,508 | €10,865 | +€3,357 | +44.7% |
| Provisions and deferred taxes | 16 | €2,606 | €1,940 | -€667 | -25.6% |
| Deferred taxes | 168 | €2,606 | €1,940 | -€667 | -25.6% |
| Amounts payable | 17/49 | €355,153 | €717,259 | +€362,106 | +102% |
| Amounts payable after more than one year | 17 | €157,519 | €89,108 | -€68,411 | -43.4% |
| Financial debts | 170/4 | €156,219 | €87,808 | -€68,411 | -43.8% |
| Other amounts payable | 178/9 | €1,300 | €1,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €192,884 | €626,329 | +€433,446 | +225% |
| Current portion of amounts payable after more than one year | 42 | €66,460 | €68,411 | +€1,951 | +2.9% |
| Financial debts | 43 | €5,200 | €11,215 | +€6,014 | +116% |
| Credit institutions | 430/8 | €5,200 | €11,215 | +€6,014 | +116% |
| Trade debts | 44 | €16,646 | €30,375 | +€13,729 | +82.5% |
| Suppliers | 440/4 | €16,646 | €30,375 | +€13,729 | +82.5% |
| Advances received on contracts in progress | 46 | - | €61,624 | +€61,624 | |
| Taxes, remuneration and social security | 45 | €25,510 | €32,245 | +€6,734 | +26.4% |
| Taxes | 450/3 | €4,481 | €20,078 | +€15,597 | +348% |
| Remuneration and social security | 454/9 | €21,029 | €12,167 | -€8,863 | -42.1% |
| Other amounts payable | 47/48 | €79,068 | €422,461 | +€343,393 | +434% |
| Accrued charges and deferred income | 492/3 | €4,751 | €1,821 | -€2,929 | -61.7% |
| Remuneration, social security and pensions | 62 | €318,025 | €288,905 | -€29,120 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,602 | €97,877 | +€1,274 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €971 | +€971 | |
| Other operating charges | 640/8 | €5,592 | €7,912 | +€2,320 | +41.5% |
| Gross operating margin | 9900 | €605,345 | €587,446 | -€17,899 | -3.0% |
| Operating profit (loss) | 9901 | €185,126 | €191,781 | +€6,655 | +3.6% |
| Financial income | 75/76B | €8,727 | €13,762 | +€5,036 | +57.7% |
| Recurring financial income | 75 | €8,727 | €13,762 | +€5,036 | +57.7% |
| Financial charges | 65/66B | €11,068 | €7,455 | -€3,613 | -32.6% |
| Recurring financial charges | 65 | €11,068 | €7,455 | -€3,613 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €182,785 | €198,088 | +€15,304 | +8.4% |
| Transfer from deferred taxes | 780 | €667 | €667 | = | 0.0% |
| Income taxes | 67/77 | €41,916 | €47,658 | +€5,743 | +13.7% |
| Profit (loss) for the period | 9904 | €141,536 | €151,097 | +€9,561 | +6.8% |
| Transfer from tax-exempt reserves | 789 | €2,667 | €2,667 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €58 | +€58 | |
| Profit (loss) for the period to be appropriated | 9905 | €144,202 | €153,705 | +€9,503 | +6.6% |
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 17 October 2026 via checked.be.