ETICS: 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.
ETICS
Largest movements
- Receivables within one year +€55,049
up €55,049 (+258.2%), from €21,324 to €76,373
of which Trade receivables: +€45,225
- Cash -€8,369
down €8,369 (-84.6%), from €9,896 to €1,527
mainly Receivables within one year (-€55,049) and Contributions, distributions and other (-€12,000)
- Tangible fixed assets -€1,718
down €1,718 (-22.9%), from €7,487 to €5,769
- Profit (loss) carried forward +€25,447
up €25,447 (+852.0%), from €2,987 to €28,433
- Trade debts +€8,887
up €8,887 (+2026.3%), from €439 to €9,326
- Provisions +€8,857
new in 2023: €8,857
- Other debts +€6,000
up €6,000 (+100.0%), from €6,000 to €12,000
- Accrued charges and deferred income -€2,450
no longer reported in 2023 (was €2,450)
- Gross operating margin +€32,498
up €32,498 (+150.7%), from €21,558 to €54,056
- Provisions +€8,857
new in 2023: €8,857
- Taxes -€2,182
no longer reported in 2023 (was €2,182)
- Depreciation -€868
down €868 (-10.9%), from €7,934 to €7,066
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,939 | €85,726 | +€45,787 | +114.6% |
| Fixed assets | 21/28 | €7,487 | €5,769 | -€1,718 | -22.9% |
| Tangible fixed assets | 22/27 | €7,487 | €5,769 | -€1,718 | -22.9% |
| Furniture and vehicles | 24 | €7,487 | €5,769 | -€1,718 | -22.9% |
| Current assets | 29/58 | €32,453 | €79,958 | +€47,505 | +146.4% |
| Amounts receivable within one year | 40/41 | €21,324 | €76,373 | +€55,049 | +258.2% |
| Trade receivables | 40 | €15,520 | €60,745 | +€45,225 | +291.4% |
| Other amounts receivable | 41 | €5,804 | €15,627 | +€9,824 | +169.3% |
| Cash at bank and in hand | 54/58 | €9,896 | €1,527 | -€8,369 | -84.6% |
| Deferred charges and accrued income | 490/1 | €1,233 | €2,058 | +€825 | +66.9% |
| Total equity and liabilities | 10/49 | €39,939 | €85,726 | +€45,787 | +114.6% |
| Equity | 10/15 | €29,028 | €54,475 | +€25,447 | +87.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €7,449 | €7,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,590 | €5,590 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,987 | €28,433 | +€25,447 | +852.0% |
| Provisions and deferred taxes | 16 | - | €8,857 | +€8,857 | |
| Provisions for liabilities and charges | 160/5 | - | €8,857 | +€8,857 | |
| Other liabilities and charges | 164/5 | - | €8,857 | +€8,857 | |
| Amounts payable | 17/49 | €10,911 | €22,395 | +€11,483 | +105.2% |
| Amounts payable within one year | 42/48 | €8,461 | €22,395 | +€13,933 | +164.7% |
| Trade debts | 44 | €439 | €9,326 | +€8,887 | +2026.3% |
| Suppliers | 440/4 | €439 | €9,326 | +€8,887 | +2026.3% |
| Taxes, remuneration and social security | 45 | €2,023 | €1,069 | -€954 | -47.2% |
| Taxes | 450/3 | €2,023 | €1,069 | -€954 | -47.2% |
| Other amounts payable | 47/48 | €6,000 | €12,000 | +€6,000 | +100.0% |
| Accrued charges and deferred income | 492/3 | €2,450 | - | -€2,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,934 | €7,066 | -€868 | -10.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €8,857 | +€8,857 | |
| Other operating charges | 640/8 | €806 | €724 | -€82 | -10.1% |
| Gross operating margin | 9900 | €21,558 | €54,056 | +€32,498 | +150.7% |
| Operating profit (loss) | 9901 | €12,818 | €37,409 | +€24,591 | +191.8% |
| Financial income | 75/76B | €227 | €318 | +€90 | +39.8% |
| Recurring financial income | 75 | €227 | €318 | +€90 | +39.8% |
| Financial charges | 65/66B | €187 | €280 | +€93 | +49.9% |
| Recurring financial charges | 65 | €187 | €280 | +€93 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | €12,859 | €37,447 | +€24,588 | +191.2% |
| Income taxes | 67/77 | €2,182 | - | -€2,182 | |
| Profit (loss) for the period | 9904 | €10,677 | €37,447 | +€26,770 | +250.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,677 | €37,447 | +€26,770 | +250.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.