ETEX SERVICES: what changed
What changed
ETEX SERVICES
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €3.7m-€1.5m
Equity
€30.8m
2024 · €28.6m+€2.2m
Cash
-
not filed
Balance sheet total
€61.2m
2024 · €58.3m+€2.9m
Largest movements
Assets
- Receivables within one year +€2.3m
up €2.3m (+12.7%), from €18.2m to €20.5m
of which Trade receivables: +€2.7m
- Intangible fixed assets +€616,016
up €616,016 (+2.0%), from €30.4m to €31.0m
Equity and liabilities
- Debts after one year +€10.0m
new in 2025: €10.0m
- Short-term financial debts -€7.9m
down €7.9m (-83.8%), from €9.5m to €1.5m
- Profit (loss) carried forward +€2.2m
up €2.2m (+11.2%), from €19.8m to €22.0m
- Trade debts -€1.6m
down €1.6m (-14.0%), from €11.3m to €9.7m
Income statement
- Turnover +€9.4m
up €9.4m (+11.2%), from €83.7m to €93.1m
- Services and other goods +€4.5m
up €4.5m (+9.2%), from €49.4m to €54.0m
- Staff costs +€2.3m
up €2.3m (+7.4%), from €30.9m to €33.2m
- Other operating income -€1.7m
down €1.7m (-42.5%), from €3.9m to €2.3m
- Depreciation +€1.4m
up €1.4m (+22.8%), from €6.4m to €7.8m
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
€3.7m
Turnover
+€9.4m
Other operating income
-€1.7m
Services and other goods
-€4.5m
Staff costs
-€2.3m
Depreciation
-€1.4m
Write-downs
-€250,682
Provisions
-€303,179
Other operating charges
+€4,268
Other operating items
+€1.5m
Financial income
-€1.1m
Financial charges
+€201,829
Taxes
-€915,090
Result 2025
€2.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,287,431 | €61,235,641 | +€2.9m | +5.1% |
| Fixed assets | 21/28 | €33,293,620 | €34,315,276 | +€1.0m | +3.1% |
| Intangible fixed assets | 21 | €30,389,003 | €31,005,019 | +€616,016 | +2.0% |
| Tangible fixed assets | 22/27 | €2,784,117 | €3,139,757 | +€355,640 | +12.8% |
| Plant, machinery and equipment | 23 | €718,942 | €1,029,473 | +€310,531 | +43.2% |
| Furniture and vehicles | 24 | €291,142 | €291,909 | +€767 | +0.3% |
| Assets under construction and advance payments | 27 | €1,774,033 | €1,818,375 | +€44,342 | +2.5% |
| Financial fixed assets | 28 | €120,500 | €170,500 | +€50,000 | +41.5% |
| Affiliated companies | 280/1 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Participating interests | 280 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Other financial fixed assets | 284/8 | €500 | €500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €24,993,811 | €26,920,365 | +€1.9m | +7.7% |
| Amounts receivable within one year | 40/41 | €18,194,476 | €20,502,678 | +€2.3m | +12.7% |
| Trade receivables | 40 | €17,059,687 | €19,792,010 | +€2.7m | +16.0% |
| Other amounts receivable | 41 | €1,134,789 | €710,668 | -€424,121 | -37.4% |
| Deferred charges and accrued income | 490/1 | €6,799,335 | €6,417,687 | -€381,648 | -5.6% |
| Total equity and liabilities | 10/49 | €58,287,431 | €61,235,641 | +€2.9m | +5.1% |
| Equity | 10/15 | €28,613,569 | €30,828,588 | +€2.2m | +7.7% |
| Contributions | 10/11 | €8,000,000 | €8,000,000 | = | 0.0% |
| Capital | 10 | €8,000,000 | €8,000,000 | = | 0.0% |
| Issued capital | 100 | €8,000,000 | €8,000,000 | = | 0.0% |
| Reserves | 13 | €800,000 | €800,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €800,000 | €800,000 | = | 0.0% |
| Legal reserve | 130 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,813,569 | €22,028,588 | +€2.2m | +11.2% |
| Provisions and deferred taxes | 16 | €880,554 | €708,062 | -€172,492 | -19.6% |
| Provisions for liabilities and charges | 160/5 | €880,554 | €708,062 | -€172,492 | -19.6% |
| Pensions and similar obligations | 160 | €106,963 | €231,425 | +€124,462 | +116% |
| Other liabilities and charges | 164/5 | €773,591 | €476,637 | -€296,954 | -38.4% |
| Amounts payable | 17/49 | €28,793,308 | €29,698,991 | +€905,683 | +3.1% |
| Amounts payable after more than one year | 17 | - | €10,000,000 | +€10.0m | |
| Financial debts | 170/4 | - | €10,000,000 | +€10.0m | |
| Other loans | 174 | - | €10,000,000 | +€10.0m | |
| Amounts payable within one year | 42/48 | €28,752,795 | €19,656,464 | -€9.1m | -31.6% |
| Financial debts | 43 | €9,461,120 | €1,535,919 | -€7.9m | -83.8% |
| Other loans | 439 | €9,461,120 | €1,535,919 | -€7.9m | -83.8% |
| Trade debts | 44 | €11,326,729 | €9,736,120 | -€1.6m | -14.0% |
| Suppliers | 440/4 | €11,326,729 | €9,736,120 | -€1.6m | -14.0% |
| Taxes, remuneration and social security | 45 | €7,787,514 | €8,384,425 | +€596,911 | +7.7% |
| Taxes | 450/3 | €811,850 | €1,318,282 | +€506,432 | +62.4% |
| Remuneration and social security | 454/9 | €6,975,664 | €7,066,143 | +€90,479 | +1.3% |
| Other amounts payable | 47/48 | €177,432 | - | -€177,432 | |
| Accrued charges and deferred income | 492/3 | €40,513 | €42,527 | +€2,014 | +5.0% |
| Operating income | 70/76A | €89,539,087 | €98,614,142 | +€9.1m | +10.1% |
| Turnover | 70 | €83,679,327 | €93,067,180 | +€9.4m | +11.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,915,234 | - | +€1.9m | |
| Own construction capitalised | 72 | €3,830,497 | €3,277,242 | -€553,255 | -14.4% |
| Other operating income | 74 | €3,944,497 | €2,269,720 | -€1.7m | -42.5% |
| Operating charges | 60/66A | €86,351,722 | €95,083,338 | +€8.7m | +10.1% |
| Services and other goods | 61 | €49,404,235 | €53,950,059 | +€4.5m | +9.2% |
| Remuneration, social security and pensions | 62 | €30,918,684 | €33,213,593 | +€2.3m | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,365,423 | €7,813,954 | +€1.4m | +22.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €250,682 | +€250,682 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€475,671 | -€172,492 | +€303,179 | +63.7% |
| Other operating charges | 640/8 | €31,406 | €27,138 | -€4,268 | -13.6% |
| Non-recurring operating charges | 66A | €107,645 | €404 | -€107,241 | -99.6% |
| Operating profit (loss) | 9901 | €3,187,365 | €3,530,804 | +€343,439 | +10.8% |
| Financial income | 75/76B | €1,402,968 | €269,969 | -€1.1m | -80.8% |
| Recurring financial income | 75 | €9,367 | €19,287 | +€9,920 | +106% |
| Other financial income | 752/9 | €9,367 | €19,287 | +€9,920 | +106% |
| Non-recurring financial income | 76B | €1,393,601 | €250,682 | -€1.1m | -82.0% |
| Financial charges | 65/66B | €717,431 | €515,602 | -€201,829 | -28.1% |
| Recurring financial charges | 65 | €717,431 | €515,602 | -€201,829 | -28.1% |
| Debt charges | 650 | €681,307 | €501,206 | -€180,101 | -26.4% |
| Other financial charges | 652/9 | €36,124 | €14,396 | -€21,728 | -60.1% |
| Profit (loss) for the period before taxes | 9903 | €3,872,902 | €3,285,171 | -€587,731 | -15.2% |
| Income taxes | 67/77 | €155,062 | €1,070,152 | +€915,090 | +590% |
| Taxes | 670/3 | €189,430 | €1,205,519 | +€1.0m | +536% |
| Tax adjustments and reversals of tax provisions | 77 | €34,368 | €135,367 | +€100,999 | +294% |
| Profit (loss) for the period | 9904 | €3,717,840 | €2,215,019 | -€1.5m | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,717,840 | €2,215,019 | -€1.5m | -40.4% |
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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 2 November 2026 via checked.be.