ETHILONA: 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.
ETHILONA
Largest movements
- Tangible fixed assets -€8,024
down €8,024 (-31.0%), from €25,845 to €17,822
- Cash +€4,289
up €4,289 (+29.4%), from €14,590 to €18,879
mainly Depreciation (+€8,675) and Net result for the year (+€4,457)
- Receivables within one year +€1,265
up €1,265 (+51.9%), from €2,437 to €3,702
- Debts after one year -€8,621
down €8,621 (-56.7%), from €15,209 to €6,587
- Reserves +€4,457
up €4,457 (+36.0%), from €12,381 to €16,838
- Trade debts +€1,802
up €1,802 (+410.9%), from €438 to €2,240
- Gross operating margin -€1,195
down €1,195 (-6.7%), from €17,790 to €16,595
- Taxes -€322
down €322 (-13.9%), from €2,310 to €1,988
- Financial charges -€249
down €249 (-32.8%), from €758 to €510
- Depreciation +€196
up €196 (+2.3%), from €8,479 to €8,675
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 | €43,082 | €40,622 | -€2,461 | -5.7% |
| Fixed assets | 21/28 | €25,845 | €17,822 | -€8,024 | -31.0% |
| Tangible fixed assets | 22/27 | €25,845 | €17,822 | -€8,024 | -31.0% |
| Furniture and vehicles | 24 | €25,845 | €17,822 | -€8,024 | -31.0% |
| Current assets | 29/58 | €17,237 | €22,800 | +€5,563 | +32.3% |
| Amounts receivable within one year | 40/41 | €2,437 | €3,702 | +€1,265 | +51.9% |
| Other amounts receivable | 41 | €2,437 | €3,702 | +€1,265 | +51.9% |
| Cash at bank and in hand | 54/58 | €14,590 | €18,879 | +€4,289 | +29.4% |
| Deferred charges and accrued income | 490/1 | €210 | €220 | +€9 | +4.5% |
| Total equity and liabilities | 10/49 | €43,082 | €40,622 | -€2,461 | -5.7% |
| Equity | 10/15 | €15,381 | €19,838 | +€4,457 | +29.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,381 | €16,838 | +€4,457 | +36.0% |
| Distributable reserves | 133 | €12,381 | €16,838 | +€4,457 | +36.0% |
| Amounts payable | 17/49 | €27,701 | €20,784 | -€6,917 | -25.0% |
| Amounts payable after more than one year | 17 | €15,209 | €6,587 | -€8,621 | -56.7% |
| Financial debts | 170/4 | €15,209 | €6,587 | -€8,621 | -56.7% |
| Amounts payable within one year | 42/48 | €12,493 | €14,197 | +€1,704 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €8,441 | €8,621 | +€181 | +2.1% |
| Trade debts | 44 | €438 | €2,240 | +€1,802 | +410.9% |
| Suppliers | 440/4 | €438 | €2,240 | +€1,802 | +410.9% |
| Taxes, remuneration and social security | 45 | €2,523 | €2,448 | -€76 | -3.0% |
| Taxes | 450/3 | €2,523 | €2,448 | -€76 | -3.0% |
| Other amounts payable | 47/48 | €1,090 | €888 | -€203 | -18.6% |
| Non-recurring operating income | 76A | €611 | €0 | -€611 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,479 | €8,675 | +€196 | +2.3% |
| Other operating charges | 640/8 | €791 | €965 | +€174 | +22.0% |
| Gross operating margin | 9900 | €17,790 | €16,595 | -€1,195 | -6.7% |
| Operating profit (loss) | 9901 | €8,519 | €6,955 | -€1,564 | -18.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €758 | €510 | -€249 | -32.8% |
| Recurring financial charges | 65 | €758 | €510 | -€249 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €7,760 | €6,445 | -€1,315 | -17.0% |
| Income taxes | 67/77 | €2,310 | €1,988 | -€322 | -13.9% |
| Profit (loss) for the period | 9904 | €5,451 | €4,457 | -€994 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,451 | €4,457 | -€994 | -18.2% |
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 4 October 2026 via checked.be.