ETHYS REALISATION: 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.
ETHYS REALISATION
Largest movements
- Tangible fixed assets +€23,496
up €23,496 (+4.9%), from €475,313 to €498,809
of which Land and buildings: +€24,090
- Receivables within one year -€12,581
down €12,581 (-97.9%), from €12,845 to €265
of which Trade receivables: -€6,420
- Other debts +€52,238
up €52,238 (+46.3%), from €112,835 to €165,073
- Profit (loss) carried forward -€29,498
down €29,498 (-293.7%), from -€10,045 to -€39,543
- Debts after one year -€13,798
down €13,798 (-3.8%), from €361,094 to €347,296
- Gross operating margin -€14,058
down €14,058 (-72.9%), from €19,285 to €5,227
- Staff costs -€12,942
down €12,942 (-91.9%), from €14,077 to €1,136
- Depreciation +€9,327
up €9,327 (+159.9%), from €5,835 to €15,162
- Financial charges +€8,336
up €8,336 (+113.8%), from €7,325 to €15,661
- Other operating charges +€631
up €631 (+29.5%), from €2,136 to €2,767
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 | €494,029 | €509,268 | +€15,239 | +3.1% |
| Fixed assets | 21/28 | €475,602 | €498,809 | +€23,207 | +4.9% |
| Tangible fixed assets | 22/27 | €475,313 | €498,809 | +€23,496 | +4.9% |
| Land and buildings | 22 | €464,137 | €488,226 | +€24,090 | +5.2% |
| Plant, machinery and equipment | 23 | €11,176 | €10,582 | -€594 | -5.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €289 | €0 | -€289 | -100.0% |
| Current assets | 29/58 | €18,427 | €10,459 | -€7,968 | -43.2% |
| Amounts receivable within one year | 40/41 | €12,845 | €265 | -€12,581 | -97.9% |
| Trade receivables | 40 | €6,420 | €0 | -€6,420 | -100.0% |
| Other amounts receivable | 41 | €6,425 | €265 | -€6,160 | -95.9% |
| Cash at bank and in hand | 54/58 | €4,621 | €8,782 | +€4,161 | +90.1% |
| Deferred charges and accrued income | 490/1 | €961 | €1,412 | +€451 | +47.0% |
| Total equity and liabilities | 10/49 | €494,029 | €509,268 | +€15,239 | +3.1% |
| Equity | 10/15 | -€45 | -€29,543 | -€29,498 | -66183.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,045 | -€39,543 | -€29,498 | -293.7% |
| Amounts payable | 17/49 | €494,073 | €538,811 | +€44,737 | +9.1% |
| Amounts payable after more than one year | 17 | €361,094 | €347,296 | -€13,798 | -3.8% |
| Financial debts | 170/4 | €361,094 | €347,296 | -€13,798 | -3.8% |
| Amounts payable within one year | 42/48 | €132,980 | €191,515 | +€58,535 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €8,906 | €13,798 | +€4,891 | +54.9% |
| Trade debts | 44 | €11,238 | €11,960 | +€722 | +6.4% |
| Suppliers | 440/4 | €11,238 | €11,960 | +€722 | +6.4% |
| Taxes, remuneration and social security | 45 | €0 | €685 | +€685 | |
| Taxes | 450/3 | €0 | €685 | +€685 | |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €112,835 | €165,073 | +€52,238 | +46.3% |
| Remuneration, social security and pensions | 62 | €14,077 | €1,136 | -€12,942 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,835 | €15,162 | +€9,327 | +159.9% |
| Other operating charges | 640/8 | €2,136 | €2,767 | +€631 | +29.5% |
| Gross operating margin | 9900 | €19,285 | €5,227 | -€14,058 | -72.9% |
| Operating profit (loss) | 9901 | -€2,763 | -€13,837 | -€11,074 | -400.8% |
| Financial income | 75/76B | €43 | - | -€43 | |
| Recurring financial income | 75 | €43 | - | -€43 | |
| Financial charges | 65/66B | €7,325 | €15,661 | +€8,336 | +113.8% |
| Recurring financial charges | 65 | €7,325 | €15,661 | +€8,336 | +113.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,045 | -€29,498 | -€19,454 | -193.7% |
| Profit (loss) for the period | 9904 | -€10,045 | -€29,498 | -€19,454 | -193.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,045 | -€29,498 | -€19,454 | -193.7% |
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 8 October 2026 via checked.be.