ETIANS: 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.
ETIANS
Largest movements
- Cash +€18,529
up €18,529 (+431.7%), from €4,292 to €22,821
mainly Other debts (+€12,032) and Net result for the year (+€11,991)
- Tangible fixed assets -€8,367
down €8,367 (-4.7%), from €176,436 to €168,070
of which Land and buildings: -€8,241
- Receivables within one year +€2,837
up €2,837 (+237.2%), from €1,196 to €4,033
- Other debts +€12,032
up €12,032 (+323.0%), from €3,725 to €15,758
- Debts after one year -€7,521
down €7,521 (-16.2%), from €46,451 to €38,931
- Tax, wage and social debts +€6,000
up €6,000 (+145.0%), from €4,139 to €10,140
- Reserves +€5,991
up €5,991 (+23.4%), from €25,584 to €31,575
of which Distributable reserves: +€5,991
- Profit (loss) carried forward -€5,228
no longer reported in 2025 (was €5,228)
- Other operating charges -€3,816
down €3,816 (-39.4%), from €9,685 to €5,869
- Gross operating margin +€3,015
up €3,015 (+9.3%), from €32,552 to €35,567
- Taxes +€1,861
up €1,861 (+45.0%), from €4,139 to €6,000
- Depreciation +€1,435
up €1,435 (+20.7%), from €6,932 to €8,367
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 | €207,540 | €219,257 | +€11,717 | +5.6% |
| Fixed assets | 21/28 | €176,882 | €168,516 | -€8,367 | -4.7% |
| Tangible fixed assets | 22/27 | €176,436 | €168,070 | -€8,367 | -4.7% |
| Land and buildings | 22 | €176,133 | €167,892 | -€8,241 | -4.7% |
| Plant, machinery and equipment | 23 | €303 | €178 | -€125 | -41.3% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €30,658 | €50,741 | +€20,084 | +65.5% |
| Amounts receivable within one year | 40/41 | €1,196 | €4,033 | +€2,837 | +237.2% |
| Trade receivables | 40 | €1,196 | €4,033 | +€2,837 | +237.2% |
| Current investments | 50/53 | €23,193 | €23,193 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,292 | €22,821 | +€18,529 | +431.7% |
| Deferred charges and accrued income | 490/1 | €1,976 | €694 | -€1,282 | -64.9% |
| Total equity and liabilities | 10/49 | €207,540 | €219,257 | +€11,717 | +5.6% |
| Equity | 10/15 | €145,812 | €146,575 | +€763 | +0.5% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Capital | 10 | €115,000 | €115,000 | = | 0.0% |
| Issued capital | 100 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €25,584 | €31,575 | +€5,991 | +23.4% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Legal reserve | 130 | €11,500 | €11,500 | = | 0.0% |
| Distributable reserves | 133 | €14,084 | €20,075 | +€5,991 | +42.5% |
| Profit (loss) carried forward | 14 | €5,228 | - | -€5,228 | |
| Amounts payable | 17/49 | €61,728 | €72,682 | +€10,954 | +17.7% |
| Amounts payable after more than one year | 17 | €46,451 | €38,931 | -€7,521 | -16.2% |
| Financial debts | 170/4 | €46,451 | €38,931 | -€7,521 | -16.2% |
| Amounts payable within one year | 42/48 | €14,964 | €33,436 | +€18,472 | +123.4% |
| Current portion of amounts payable after more than one year | 42 | €7,099 | €7,521 | +€421 | +5.9% |
| Trade debts | 44 | - | €18 | +€18 | |
| Suppliers | 440/4 | - | €18 | +€18 | |
| Taxes, remuneration and social security | 45 | €4,139 | €10,140 | +€6,000 | +145.0% |
| Taxes | 450/3 | €4,139 | €10,140 | +€6,000 | +145.0% |
| Other amounts payable | 47/48 | €3,725 | €15,758 | +€12,032 | +323.0% |
| Accrued charges and deferred income | 492/3 | €313 | €316 | +€3 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,932 | €8,367 | +€1,435 | +20.7% |
| Other operating charges | 640/8 | €9,685 | €5,869 | -€3,816 | -39.4% |
| Gross operating margin | 9900 | €32,552 | €35,567 | +€3,015 | +9.3% |
| Operating profit (loss) | 9901 | €15,936 | €21,332 | +€5,396 | +33.9% |
| Financial income | 75/76B | €71 | €100 | +€28 | +39.8% |
| Recurring financial income | 75 | €71 | €100 | +€28 | +39.8% |
| Financial charges | 65/66B | €3,783 | €3,440 | -€343 | -9.1% |
| Recurring financial charges | 65 | €3,783 | €3,440 | -€343 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €12,224 | €17,991 | +€5,767 | +47.2% |
| Income taxes | 67/77 | €4,139 | €6,000 | +€1,861 | +45.0% |
| Profit (loss) for the period | 9904 | €8,084 | €11,991 | +€3,906 | +48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,084 | €11,991 | +€3,906 | +48.3% |
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 5 October 2026 via checked.be.