ETICWOOD: 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.
ETICWOOD
Largest movements
- Cash +€2.7m
up €2.7m (+2,321%), from €116,285 to €2.8m
mainly Net result for the year (+€3.8m) and Other debts (+€2.5m)
- Receivables within one year +€1.2m
up €1.2m (+98.4%), from €1.2m to €2.4m
of which Trade receivables: +€1.2m
- Tangible fixed assets +€858,730
up €858,730 (+182%), from €472,637 to €1.3m
of which Land and buildings: +€878,271
- Receivables after one year +€310,800
new in 2025: €310,800
- Other debts +€2.5m
up €2.5m (+470%), from €528,001 to €3.0m
- Profit (loss) carried forward +€779,876
up €779,876 (+167%), from €466,731 to €1.2m
- Debts after one year +€742,300
up €742,300 (+282%), from €263,181 to €1.0m
- Current portion of long-term debt +€564,914
up €564,914 (+1,315%), from €42,960 to €607,873
- Tax, wage and social debts +€469,850
up €469,850 (+139%), from €337,033 to €806,883
of which Taxes: +€452,556
- Gross operating margin +€4.4m
up €4.4m (+310%), from €1.4m to €5.8m
- Taxes +€1.0m
up €1.0m (+399%), from €259,320 to €1.3m
- Staff costs +€115,814
up €115,814 (+30.7%), from €377,092 to €492,906
- Depreciation +€115,366
up €115,366 (+241%), from €47,910 to €163,276
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.
Derived cash bridge
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 | €1,791,626 | €6,881,908 | +€5.1m | +284% |
| Fixed assets | 21/28 | €481,754 | €1,380,366 | +€898,612 | +187% |
| Intangible fixed assets | 21 | €9,117 | €48,998 | +€39,881 | +437% |
| Tangible fixed assets | 22/27 | €472,637 | €1,331,368 | +€858,730 | +182% |
| Land and buildings | 22 | €431,278 | €1,309,548 | +€878,271 | +204% |
| Furniture and vehicles | 24 | €41,360 | €21,819 | -€19,540 | -47.2% |
| Current assets | 29/58 | €1,309,872 | €5,501,542 | +€4.2m | +320% |
| Amounts receivable after more than one year | 29 | - | €310,800 | +€310,800 | |
| Trade receivables | 290 | - | €310,800 | +€310,800 | |
| Amounts receivable within one year | 40/41 | €1,191,066 | €2,362,696 | +€1.2m | +98.4% |
| Trade receivables | 40 | €1,174,096 | €2,331,179 | +€1.2m | +98.6% |
| Other amounts receivable | 41 | €16,970 | €31,518 | +€14,548 | +85.7% |
| Cash at bank and in hand | 54/58 | €116,285 | €2,815,636 | +€2.7m | +2,321% |
| Deferred charges and accrued income | 490/1 | €2,521 | €12,409 | +€9,888 | +392% |
| Total equity and liabilities | 10/49 | €1,791,626 | €6,881,908 | +€5.1m | +284% |
| Equity | 10/15 | €516,731 | €1,296,607 | +€779,876 | +151% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €466,731 | €1,246,607 | +€779,876 | +167% |
| Amounts payable | 17/49 | €1,274,894 | €5,585,301 | +€4.3m | +338% |
| Amounts payable after more than one year | 17 | €263,181 | €1,005,481 | +€742,300 | +282% |
| Financial debts | 170/4 | €263,181 | €1,005,481 | +€742,300 | +282% |
| Amounts payable within one year | 42/48 | €1,011,713 | €4,579,820 | +€3.6m | +353% |
| Current portion of amounts payable after more than one year | 42 | €42,960 | €607,873 | +€564,914 | +1,315% |
| Trade debts | 44 | €103,720 | €156,182 | +€52,462 | +50.6% |
| Suppliers | 440/4 | €103,720 | €156,182 | +€52,462 | +50.6% |
| Taxes, remuneration and social security | 45 | €337,033 | €806,883 | +€469,850 | +139% |
| Taxes | 450/3 | €300,093 | €752,648 | +€452,556 | +151% |
| Remuneration and social security | 454/9 | €36,940 | €54,234 | +€17,294 | +46.8% |
| Other amounts payable | 47/48 | €528,001 | €3,008,881 | +€2.5m | +470% |
| Remuneration, social security and pensions | 62 | €377,092 | €492,906 | +€115,814 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,910 | €163,276 | +€115,366 | +241% |
| Other operating charges | 640/8 | €3,859 | €29,416 | +€25,557 | +662% |
| Gross operating margin | 9900 | €1,408,860 | €5,782,311 | +€4.4m | +310% |
| Operating profit (loss) | 9901 | €980,000 | €5,096,712 | +€4.1m | +420% |
| Financial income | 75/76B | €125 | €303 | +€178 | +142% |
| Recurring financial income | 75 | €125 | €303 | +€178 | +142% |
| Financial charges | 65/66B | €5,335 | €23,991 | +€18,656 | +350% |
| Recurring financial charges | 65 | €5,335 | €23,991 | +€18,656 | +350% |
| Profit (loss) for the period before taxes | 9903 | €974,790 | €5,073,024 | +€4.1m | +420% |
| Income taxes | 67/77 | €259,320 | €1,293,148 | +€1.0m | +399% |
| Profit (loss) for the period | 9904 | €715,469 | €3,779,876 | +€3.1m | +428% |
| Profit (loss) for the period to be appropriated | 9905 | €715,469 | €3,779,876 | +€3.1m | +428% |
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 25 October 2026 via checked.be.