ETI Service: what changed
ETI Service
Largest movements
- Receivables within one year +€65,003
up €65,003 (+33.9%), from €191,960 to €256,963
of which Trade receivables: +€52,013
- Tangible fixed assets -€11,824
down €11,824 (-67.9%), from €17,410 to €5,586
of which Furniture and vehicles: -€9,200
- Cash -€4,238
down €4,238 (-92.2%), from €4,598 to €359
mainly Receivables within one year (-€65,003) and Tax, wage and social debts (-€12,877)
- Trade debts +€43,262
up €43,262 (+73.2%), from €59,062 to €102,324
- Reserves +€19,080
up €19,080 (+13.5%), from €141,444 to €160,524
of which Distributable reserves: +€19,080
- Tax, wage and social debts -€12,877
down €12,877 (-41.2%), from €31,220 to €18,344
of which Taxes: -€8,574
- Staff costs -€83,852
down €83,852 (-70.8%), from €118,473 to €34,621
- Gross operating margin -€47,147
down €47,147 (-36.9%), from €127,758 to €80,611
- Write-downs +€7,198
new in 2025: €7,198
- Taxes +€7,100
up €7,100 (+340%), from €2,087 to €9,188
- Financial charges +€3,646
up €3,646 (+108%), from €3,371 to €7,017
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €246,371 | €294,392 | +€48,021 | +19.5% |
| Fixed assets | 21/28 | €17,410 | €5,586 | -€11,824 | -67.9% |
| Tangible fixed assets | 22/27 | €17,410 | €5,586 | -€11,824 | -67.9% |
| Plant, machinery and equipment | 23 | €4,645 | €2,022 | -€2,624 | -56.5% |
| Furniture and vehicles | 24 | €12,765 | €3,564 | -€9,200 | -72.1% |
| Current assets | 29/58 | €228,961 | €288,806 | +€59,845 | +26.1% |
| Amounts receivable after more than one year | 29 | €28,900 | €28,900 | = | 0.0% |
| Other amounts receivable | 291 | €28,900 | €28,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €191,960 | €256,963 | +€65,003 | +33.9% |
| Trade receivables | 40 | €84,318 | €136,331 | +€52,013 | +61.7% |
| Other amounts receivable | 41 | €107,642 | €120,632 | +€12,990 | +12.1% |
| Cash at bank and in hand | 54/58 | €4,598 | €359 | -€4,238 | -92.2% |
| Deferred charges and accrued income | 490/1 | €3,503 | €2,583 | -€920 | -26.2% |
| Total equity and liabilities | 10/49 | €246,371 | €294,392 | +€48,021 | +19.5% |
| Equity | 10/15 | €154,644 | €173,724 | +€19,080 | +12.3% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €141,444 | €160,524 | +€19,080 | +13.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €139,584 | €158,664 | +€19,080 | +13.7% |
| Amounts payable | 17/49 | €91,727 | €120,668 | +€28,941 | +31.6% |
| Amounts payable within one year | 42/48 | €90,282 | €120,668 | +€30,386 | +33.7% |
| Trade debts | 44 | €59,062 | €102,324 | +€43,262 | +73.2% |
| Suppliers | 440/4 | €59,062 | €102,324 | +€43,262 | +73.2% |
| Taxes, remuneration and social security | 45 | €31,220 | €18,344 | -€12,877 | -41.2% |
| Taxes | 450/3 | €21,782 | €13,208 | -€8,574 | -39.4% |
| Remuneration and social security | 454/9 | €9,439 | €5,136 | -€4,302 | -45.6% |
| Accrued charges and deferred income | 492/3 | €1,445 | - | -€1,445 | |
| Remuneration, social security and pensions | 62 | €118,473 | €34,621 | -€83,852 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,091 | €6,813 | -€2,278 | -25.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,198 | +€7,198 | |
| Other operating charges | 640/8 | €2,416 | €1,909 | -€507 | -21.0% |
| Non-recurring operating charges | 66A | - | €1,145 | +€1,145 | |
| Gross operating margin | 9900 | €127,758 | €80,611 | -€47,147 | -36.9% |
| Operating profit (loss) | 9901 | -€2,223 | €28,924 | +€31,147 | |
| Financial income | 75/76B | €7,707 | €6,360 | -€1,347 | -17.5% |
| Recurring financial income | 75 | €7,707 | €6,360 | -€1,347 | -17.5% |
| Financial charges | 65/66B | €3,371 | €7,017 | +€3,646 | +108% |
| Recurring financial charges | 65 | €3,371 | €7,017 | +€3,646 | +108% |
| Profit (loss) for the period before taxes | 9903 | €2,113 | €28,267 | +€26,154 | +1,238% |
| Income taxes | 67/77 | €2,087 | €9,188 | +€7,100 | +340% |
| Profit (loss) for the period | 9904 | €26 | €19,080 | +€19,054 | +73,595% |
| Profit (loss) for the period to be appropriated | 9905 | €26 | €19,080 | +€19,054 | +73,595% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.