ETHIQO: 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.
ETHIQO
Largest movements
- Receivables within one year +€64,306
up €64,306 (+80.7%), from €79,691 to €143,998
of which Trade receivables: +€60,500
- Cash -€24,924
down €24,924 (-97.1%), from €25,670 to €747
mainly Receivables within one year (-€64,306) and Net result for the year (-€40,923)
- Other debts +€42,863
up €42,863 (+11.3%), from €378,113 to €420,977
- Profit (loss) carried forward -€40,923
down €40,923 (-11.3%), from -€362,661 to -€403,584
- Trade debts +€34,392
up €34,392 (+41.0%), from €83,982 to €118,374
- Tax, wage and social debts +€3,360
up €3,360, from €0 to €3,360
- Purchases and services -€296,897
no longer reported in 2025 (was €296,897)
- Turnover -€121,122
no longer reported in 2025 (was €121,122)
- Gross operating margin +€112,157
up €112,157 (+75.7%), from -€148,145 to -€35,988
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 | €107,494 | €147,331 | +€39,836 | +37.1% |
| Fixed assets | 21/28 | €1,290 | €761 | -€530 | -41.0% |
| Tangible fixed assets | 22/27 | €1,290 | €761 | -€530 | -41.0% |
| Furniture and vehicles | 24 | €1,290 | €761 | -€530 | -41.0% |
| Current assets | 29/58 | €106,204 | €146,570 | +€40,366 | +38.0% |
| Amounts receivable within one year | 40/41 | €79,691 | €143,998 | +€64,306 | +80.7% |
| Trade receivables | 40 | €45,375 | €105,875 | +€60,500 | +133.3% |
| Other amounts receivable | 41 | €34,316 | €38,123 | +€3,806 | +11.1% |
| Cash at bank and in hand | 54/58 | €25,670 | €747 | -€24,924 | -97.1% |
| Deferred charges and accrued income | 490/1 | €842 | €1,826 | +€983 | +116.7% |
| Total equity and liabilities | 10/49 | €107,494 | €147,331 | +€39,836 | +37.1% |
| Equity | 10/15 | -€354,601 | -€395,524 | -€40,923 | -11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€362,661 | -€403,584 | -€40,923 | -11.3% |
| Amounts payable | 17/49 | €462,096 | €542,855 | +€80,759 | +17.5% |
| Amounts payable within one year | 42/48 | €462,096 | €542,855 | +€80,759 | +17.5% |
| Financial debts | 43 | - | €144 | +€144 | |
| Other loans | 439 | - | €144 | +€144 | |
| Trade debts | 44 | €83,982 | €118,374 | +€34,392 | +41.0% |
| Suppliers | 440/4 | €83,982 | €118,374 | +€34,392 | +41.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €3,360 | +€3,360 | |
| Taxes | 450/3 | €0 | €3,360 | +€3,360 | |
| Other amounts payable | 47/48 | €378,113 | €420,977 | +€42,863 | +11.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €121,122 | - | -€121,122 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €296,897 | - | -€296,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,266 | €530 | -€736 | -58.2% |
| Other operating charges | 640/8 | €5,180 | €3,968 | -€1,212 | -23.4% |
| Gross operating margin | 9900 | -€148,145 | -€35,988 | +€112,157 | +75.7% |
| Operating profit (loss) | 9901 | -€154,591 | -€40,486 | +€114,105 | +73.8% |
| Financial income | 75/76B | €146 | €1,034 | +€888 | +610.2% |
| Recurring financial income | 75 | €146 | €1,034 | +€888 | +610.2% |
| Financial charges | 65/66B | €898 | €521 | -€377 | -42.0% |
| Recurring financial charges | 65 | €898 | €521 | -€377 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | -€155,344 | -€39,974 | +€115,370 | +74.3% |
| Income taxes | 67/77 | €0 | €949 | +€949 | |
| Profit (loss) for the period | 9904 | -€155,344 | -€40,923 | +€114,421 | +73.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€155,344 | -€40,923 | +€114,421 | +73.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.