ETICA CONSULTING: what changed
What changed
ETICA CONSULTING
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€144,365
2024 · €82,168+€62,197
Equity
€750,618
2024 · €606,252+€144,365
Cash
€278,090
2024 · €112,182+€165,908
Balance sheet total
€1.1m
2024 · €1.0m+€124,316
Largest movements
Assets
- Cash +€165,908
up €165,908 (+148%), from €112,182 to €278,090
mainly Net result for the year (+€144,365) and Depreciation (+€40,572)
- Tangible fixed assets -€40,572
down €40,572 (-6.3%), from €646,177 to €605,605
of which Other tangible fixed assets: -€21,760
Equity and liabilities
- Reserves +€143,000
up €143,000 (+24.9%), from €574,460 to €717,460
of which Distributable reserves: +€143,000
- Debts after one year -€35,642
down €35,642 (-11.3%), from €314,759 to €279,117
Income statement
- Gross operating margin +€59,483
up €59,483 (+27.4%), from €216,748 to €276,231
- Taxes +€18,548
up €18,548 (+30.9%), from €59,981 to €78,529
- Depreciation -€12,521
down €12,521 (-23.6%), from €53,093 to €40,572
- Staff costs -€5,165
down €5,165 (-96.6%), from €5,346 to €181
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.
Result 2024
€82,168
Gross operating margin
+€59,483
Staff costs
+€5,165
Depreciation
+€12,521
Other operating charges
+€1,138
Financial charges
+€2,437
Taxes
-€18,548
Result 2025
€144,365
raises the resultlowers the result
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.
From operations
+€196,668
Investment
€0
Financing
-€30,760
Cash 2024
€112,182
From operations (derived)
+€196,668
Net result for the year
+€144,365
Depreciation
+€40,572
Receivables within one year
+€1,020
Deferred charges and accrued income
-€0
Trade debts
-€509
Tax, wage and social debts
+€11,220
Financing
-€30,760
Debts after one year
-€35,642
Current portion of long-term debt
+€17
Short-term financial debts
+€4,865
Cash 2025
€278,090
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,005,958 | €1,130,274 | +€124,316 | +12.4% |
| Fixed assets | 21/28 | €646,177 | €605,605 | -€40,572 | -6.3% |
| Tangible fixed assets | 22/27 | €646,177 | €605,605 | -€40,572 | -6.3% |
| Land and buildings | 22 | €545,331 | €530,522 | -€14,809 | -2.7% |
| Furniture and vehicles | 24 | €4,003 | - | -€4,003 | |
| Other tangible fixed assets | 26 | €96,843 | €75,084 | -€21,760 | -22.5% |
| Current assets | 29/58 | €359,781 | €524,669 | +€164,888 | +45.8% |
| Amounts receivable within one year | 40/41 | €47,599 | €46,579 | -€1,020 | -2.1% |
| Trade receivables | 40 | €47,599 | €46,579 | -€1,020 | -2.1% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,182 | €278,090 | +€165,908 | +148% |
| Deferred charges and accrued income | 490/1 | - | €0 | +€0 | |
| Total equity and liabilities | 10/49 | €1,005,958 | €1,130,274 | +€124,316 | +12.4% |
| Equity | 10/15 | €606,252 | €750,618 | +€144,365 | +23.8% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €574,460 | €717,460 | +€143,000 | +24.9% |
| 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 | €572,600 | €715,600 | +€143,000 | +25.0% |
| Profit (loss) carried forward | 14 | €15,592 | €16,958 | +€1,365 | +8.8% |
| Amounts payable | 17/49 | €399,706 | €379,657 | -€20,049 | -5.0% |
| Amounts payable after more than one year | 17 | €314,759 | €279,117 | -€35,642 | -11.3% |
| Financial debts | 170/4 | €314,759 | €279,117 | -€35,642 | -11.3% |
| Amounts payable within one year | 42/48 | €84,947 | €100,540 | +€15,593 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €35,625 | €35,642 | +€17 | 0.0% |
| Financial debts | 43 | €20,363 | €25,228 | +€4,865 | +23.9% |
| Credit institutions | 430/8 | €20,363 | €25,228 | +€4,865 | +23.9% |
| Trade debts | 44 | €1,915 | €1,406 | -€509 | -26.6% |
| Suppliers | 440/4 | €1,915 | €1,406 | -€509 | -26.6% |
| Taxes, remuneration and social security | 45 | €26,044 | €37,264 | +€11,220 | +43.1% |
| Taxes | 450/3 | €26,044 | €37,264 | +€11,220 | +43.1% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €5,346 | €181 | -€5,165 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,093 | €40,572 | -€12,521 | -23.6% |
| Other operating charges | 640/8 | €4,479 | €3,340 | -€1,138 | -25.4% |
| Gross operating margin | 9900 | €216,748 | €276,231 | +€59,483 | +27.4% |
| Operating profit (loss) | 9901 | €153,830 | €232,138 | +€78,307 | +50.9% |
| Financial charges | 65/66B | €11,681 | €9,243 | -€2,437 | -20.9% |
| Recurring financial charges | 65 | €11,681 | €9,243 | -€2,437 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €142,150 | €222,894 | +€80,745 | +56.8% |
| Income taxes | 67/77 | €59,981 | €78,529 | +€18,548 | +30.9% |
| Profit (loss) for the period | 9904 | €82,168 | €144,365 | +€62,197 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,168 | €144,365 | +€62,197 | +75.7% |
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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 3 November 2026 via checked.be.