ETICA: 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.
ETICA
Largest movements
- Receivables within one year -€5,558
down €5,558 (-82.8%), from €6,716 to €1,157
of which Other amounts receivable: -€5,377
- Cash +€3,328
up €3,328 (+37.8%), from €8,796 to €12,124
mainly Receivables within one year (+€5,558) and Trade debts (+€488)
- Profit (loss) carried forward -€2,652
down €2,652 (-69.4%), from -€3,819 to -€6,471
- Trade debts +€488
up €488 (+13119.6%), from €4 to €492
- Gross operating margin +€5,198
up €5,198 (+70.4%), from -€7,380 to -€2,182
- Financial income -€82
down €82 (-50.5%), from €162 to €80
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 | €16,674 | €14,481 | -€2,193 | -13.2% |
| Current assets | 29/58 | €16,674 | €14,481 | -€2,193 | -13.2% |
| Amounts receivable within one year | 40/41 | €6,716 | €1,157 | -€5,558 | -82.8% |
| Trade receivables | 40 | €236 | €54 | -€182 | -76.9% |
| Other amounts receivable | 41 | €6,480 | €1,103 | -€5,377 | -83.0% |
| Cash at bank and in hand | 54/58 | €8,796 | €12,124 | +€3,328 | +37.8% |
| Deferred charges and accrued income | 490/1 | €1,162 | €1,199 | +€38 | +3.3% |
| Total equity and liabilities | 10/49 | €16,674 | €14,481 | -€2,193 | -13.2% |
| Equity | 10/15 | €16,641 | €13,989 | -€2,652 | -15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,819 | -€6,471 | -€2,652 | -69.4% |
| Amounts payable | 17/49 | €33 | €492 | +€459 | +1395.7% |
| Amounts payable within one year | 42/48 | €4 | €492 | +€488 | +13119.6% |
| Trade debts | 44 | €4 | €492 | +€488 | +13119.6% |
| Suppliers | 440/4 | €4 | €492 | +€488 | +13119.6% |
| Accrued charges and deferred income | 492/3 | €29 | - | -€29 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37 | - | -€37 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€7,380 | -€2,182 | +€5,198 | +70.4% |
| Operating profit (loss) | 9901 | -€7,804 | -€2,582 | +€5,222 | +66.9% |
| Financial income | 75/76B | €162 | €80 | -€82 | -50.5% |
| Recurring financial income | 75 | €162 | €80 | -€82 | -50.5% |
| Financial charges | 65/66B | €123 | €150 | +€27 | +22.0% |
| Recurring financial charges | 65 | €123 | €150 | +€27 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,765 | -€2,652 | +€5,113 | +65.8% |
| Profit (loss) for the period | 9904 | -€7,765 | -€2,652 | +€5,113 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,765 | -€2,652 | +€5,113 | +65.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.