ETI Capital: what changed
Two financial 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.
ETI Capital
Largest movements
- Cash -€81,409
down €81,409 (-74.4%), from €109,458 to €28,049
mainly Debts after one year (-€69,332) and Receivables within one year (-€9,815)
- Receivables within one year +€9,815
up €9,815 (+515%), from €1,905 to €11,720
of which Other amounts receivable: +€9,347
- Debts after one year -€69,332
down €69,332 (-97.0%), from €71,449 to €2,117
- Tax, wage and social debts -€1,249
down €1,249 (-27.4%), from €4,557 to €3,308
- Other operating charges -€1,857
down €1,857 (-72.7%), from €2,555 to €698
- Gross operating margin +€1,760
up €1,760, from -€1,650 to €110
- Financial income -€765
no longer reported in 2024 (was €765)
- Depreciation +€154
up €154 (+61.5%), from €251 to €406
- Taxes -€123
down €123 (-99.5%), from €123 to €1
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,412 | €40,328 | -€72,084 | -64.1% |
| Fixed assets | 21/28 | €966 | €560 | -€406 | -42.0% |
| Tangible fixed assets | 22/27 | €966 | €560 | -€406 | -42.0% |
| Plant, machinery and equipment | 23 | €966 | €560 | -€406 | -42.0% |
| Current assets | 29/58 | €111,446 | €39,768 | -€71,678 | -64.3% |
| Amounts receivable within one year | 40/41 | €1,905 | €11,720 | +€9,815 | +515% |
| Trade receivables | 40 | €1,169 | €1,637 | +€468 | +40.0% |
| Other amounts receivable | 41 | €736 | €10,083 | +€9,347 | +1,270% |
| Cash at bank and in hand | 54/58 | €109,458 | €28,049 | -€81,409 | -74.4% |
| Deferred charges and accrued income | 490/1 | €83 | - | -€83 | |
| Total equity and liabilities | 10/49 | €112,412 | €40,328 | -€72,084 | -64.1% |
| Equity | 10/15 | -€95 | -€1,136 | -€1,041 | -1,096% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,700 | €1,700 | = | 0.0% |
| Distributable reserves | 133 | €1,700 | €1,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,795 | -€4,836 | -€1,041 | -27.4% |
| Amounts payable | 17/49 | €112,507 | €41,465 | -€71,042 | -63.1% |
| Amounts payable after more than one year | 17 | €71,449 | €2,117 | -€69,332 | -97.0% |
| Financial debts | 170/4 | €71,449 | €2,117 | -€69,332 | -97.0% |
| Amounts payable within one year | 42/48 | €41,058 | €39,347 | -€1,710 | -4.2% |
| Trade debts | 44 | €36,125 | €36,039 | -€86 | -0.2% |
| Suppliers | 440/4 | €36,125 | €36,039 | -€86 | -0.2% |
| Taxes, remuneration and social security | 45 | €4,557 | €3,308 | -€1,249 | -27.4% |
| Taxes | 450/3 | €4,557 | €3,308 | -€1,249 | -27.4% |
| Other amounts payable | 47/48 | €376 | - | -€376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251 | €406 | +€154 | +61.5% |
| Other operating charges | 640/8 | €2,555 | €698 | -€1,857 | -72.7% |
| Gross operating margin | 9900 | -€1,650 | €110 | +€1,760 | |
| Operating profit (loss) | 9901 | -€4,456 | -€994 | +€3,462 | +77.7% |
| Financial income | 75/76B | €765 | - | -€765 | |
| Recurring financial income | 75 | €765 | - | -€765 | |
| Financial charges | 65/66B | €71 | €47 | -€24 | -33.6% |
| Recurring financial charges | 65 | €71 | €47 | -€24 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,762 | -€1,041 | +€2,722 | +72.3% |
| Income taxes | 67/77 | €123 | €1 | -€123 | -99.5% |
| Profit (loss) for the period | 9904 | -€3,885 | -€1,041 | +€2,844 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,885 | -€1,041 | +€2,844 | +73.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.