Ethernetics: 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.
Ethernetics
Largest movements
- Intangible fixed assets -€300,356
down €300,356 (-27.5%), from €1.1m to €793,289
- Cash +€76,907
up €76,907 (+187.5%), from €41,013 to €117,920
mainly Debts after one year (+€472,562) and Depreciation (+€399,143)
- Stocks and contracts +€54,999
up €54,999 (+66.2%), from €83,051 to €138,050
- Profit (loss) carried forward -€572,982
down €572,982 (-18.5%), from -€3.1m to -€3.7m
- Debts after one year +€472,562
up €472,562 (+37.3%), from €1.3m to €1.7m
- Trade debts -€56,593
down €56,593 (-21.2%), from €266,554 to €209,961
- Accrued charges and deferred income -€23,986
down €23,986 (-12.8%), from €187,158 to €163,172
- Gross operating margin +€407,192
up €407,192 (+81.0%), from -€502,787 to -€95,595
- Purchases and services +€222,860
new in 2025: €222,860
- Turnover +€127,265
new in 2025: €127,265
- Depreciation +€29,610
up €29,610 (+8.0%), from €369,533 to €399,143
- Financial charges +€7,090
up €7,090 (+10.1%), from €70,155 to €77,245
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 | €1,265,787 | €1,085,133 | -€180,654 | -14.3% |
| Fixed assets | 21/28 | €1,128,165 | €816,718 | -€311,447 | -27.6% |
| Intangible fixed assets | 21 | €1,093,645 | €793,289 | -€300,356 | -27.5% |
| Tangible fixed assets | 22/27 | €33,320 | €23,429 | -€9,891 | -29.7% |
| Plant, machinery and equipment | 23 | €32,428 | €22,807 | -€9,621 | -29.7% |
| Furniture and vehicles | 24 | €892 | €622 | -€270 | -30.3% |
| Financial fixed assets | 28 | €1,200 | - | -€1,200 | |
| Current assets | 29/58 | €137,622 | €268,415 | +€130,793 | +95.0% |
| Stocks and contracts in progress | 3 | €83,051 | €138,050 | +€54,999 | +66.2% |
| Stocks | 30/36 | €83,051 | €138,050 | +€54,999 | +66.2% |
| Amounts receivable within one year | 40/41 | €13,521 | €12,445 | -€1,076 | -8.0% |
| Trade receivables | 40 | €9,293 | - | -€9,293 | |
| Other amounts receivable | 41 | €4,228 | €12,445 | +€8,217 | +194.3% |
| Cash at bank and in hand | 54/58 | €41,013 | €117,920 | +€76,907 | +187.5% |
| Deferred charges and accrued income | 490/1 | €37 | - | -€37 | |
| Total equity and liabilities | 10/49 | €1,265,787 | €1,085,133 | -€180,654 | -14.3% |
| Equity | 10/15 | -€456,471 | -€1,029,453 | -€572,982 | -125.5% |
| Contributions | 10/11 | €2,644,976 | €2,644,976 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,101,447 | -€3,674,429 | -€572,982 | -18.5% |
| Amounts payable | 17/49 | €1,722,258 | €2,114,586 | +€392,328 | +22.8% |
| Amounts payable after more than one year | 17 | €1,268,546 | €1,741,108 | +€472,562 | +37.3% |
| Financial debts | 170/4 | €1,268,546 | €1,741,108 | +€472,562 | +37.3% |
| Amounts payable within one year | 42/48 | €266,554 | €210,306 | -€56,248 | -21.1% |
| Trade debts | 44 | €266,554 | €209,961 | -€56,593 | -21.2% |
| Suppliers | 440/4 | €266,554 | €209,961 | -€56,593 | -21.2% |
| Taxes, remuneration and social security | 45 | - | €345 | +€345 | |
| Taxes | 450/3 | - | €345 | +€345 | |
| Accrued charges and deferred income | 492/3 | €187,158 | €163,172 | -€23,986 | -12.8% |
| Turnover | 70 | - | €127,265 | +€127,265 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €222,860 | +€222,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369,533 | €399,143 | +€29,610 | +8.0% |
| Other operating charges | 640/8 | €221 | €999 | +€778 | +352.0% |
| Gross operating margin | 9900 | -€502,787 | -€95,595 | +€407,192 | +81.0% |
| Operating profit (loss) | 9901 | -€872,541 | -€495,737 | +€376,804 | +43.2% |
| Financial charges | 65/66B | €70,155 | €77,245 | +€7,090 | +10.1% |
| Recurring financial charges | 65 | €70,155 | €77,245 | +€7,090 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | -€942,696 | -€572,982 | +€369,714 | +39.2% |
| Profit (loss) for the period | 9904 | -€942,696 | -€572,982 | +€369,714 | +39.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€942,696 | -€572,982 | +€369,714 | +39.2% |
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 7 October 2026 via checked.be.