Etienne Gombert: 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.
Etienne Gombert
Largest movements
- Cash +€94,140
up €94,140 (+150.8%), from €62,442 to €156,582
mainly Net result for the year (+€93,065) and Receivables within one year (+€10,024)
- Tangible fixed assets +€12,290
up €12,290 (+190.5%), from €6,450 to €18,740
of which Plant, machinery and equipment: +€12,939
- Receivables within one year -€10,024
down €10,024 (-49.9%), from €20,068 to €10,044
of which Other amounts receivable: -€6,578
- Deferred charges and accrued income -€7,326
down €7,326 (-83.8%), from €8,747 to €1,421
- Reserves +€92,232
up €92,232 (+114.1%), from €80,856 to €173,088
- Accrued charges and deferred income -€7,040
down €7,040 (-100.0%), from €7,040 to €0
- Trade debts +€2,881
up €2,881 (+123.6%), from €2,330 to €5,211
- Tax, wage and social debts +€1,968
new in 2025: €1,968
- Gross operating margin +€18,350
up €18,350 (+17.2%), from €106,889 to €125,239
- Taxes +€3,798
up €3,798 (+17.2%), from €22,061 to €25,859
- Depreciation +€1,282
up €1,282 (+114.9%), from €1,116 to €2,398
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 | €97,707 | €186,787 | +€89,080 | +91.2% |
| Fixed assets | 21/28 | €6,450 | €18,740 | +€12,290 | +190.5% |
| Tangible fixed assets | 22/27 | €6,450 | €18,740 | +€12,290 | +190.5% |
| Plant, machinery and equipment | 23 | - | €12,939 | +€12,939 | |
| Furniture and vehicles | 24 | €6,450 | €5,801 | -€649 | -10.1% |
| Current assets | 29/58 | €91,257 | €168,047 | +€76,790 | +84.1% |
| Amounts receivable within one year | 40/41 | €20,068 | €10,044 | -€10,024 | -49.9% |
| Trade receivables | 40 | €10,051 | €6,605 | -€3,446 | -34.3% |
| Other amounts receivable | 41 | €10,017 | €3,439 | -€6,578 | -65.7% |
| Cash at bank and in hand | 54/58 | €62,442 | €156,582 | +€94,140 | +150.8% |
| Deferred charges and accrued income | 490/1 | €8,747 | €1,421 | -€7,326 | -83.8% |
| Total equity and liabilities | 10/49 | €97,707 | €186,787 | +€89,080 | +91.2% |
| Equity | 10/15 | €83,356 | €175,588 | +€92,232 | +110.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €80,856 | €173,088 | +€92,232 | +114.1% |
| Distributable reserves | 133 | €80,856 | €173,088 | +€92,232 | +114.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €14,351 | €11,199 | -€3,152 | -22.0% |
| Amounts payable within one year | 42/48 | €7,311 | €11,199 | +€3,888 | +53.2% |
| Trade debts | 44 | €2,330 | €5,211 | +€2,881 | +123.6% |
| Suppliers | 440/4 | €2,330 | €5,211 | +€2,881 | +123.6% |
| Taxes, remuneration and social security | 45 | - | €1,968 | +€1,968 | |
| Taxes | 450/3 | - | €1,968 | +€1,968 | |
| Other amounts payable | 47/48 | €4,980 | €4,020 | -€960 | -19.3% |
| Accrued charges and deferred income | 492/3 | €7,040 | €0 | -€7,040 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,116 | €2,398 | +€1,282 | +114.9% |
| Other operating charges | 640/8 | €2,692 | €3,061 | +€369 | +13.7% |
| Gross operating margin | 9900 | €106,889 | €125,239 | +€18,350 | +17.2% |
| Operating profit (loss) | 9901 | €103,082 | €119,781 | +€16,699 | +16.2% |
| Financial income | 75/76B | €2 | €0 | -€2 | -98.7% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -98.7% |
| Financial charges | 65/66B | €167 | €857 | +€690 | +414.2% |
| Recurring financial charges | 65 | €167 | €857 | +€690 | +414.2% |
| Profit (loss) for the period before taxes | 9903 | €102,917 | €118,924 | +€16,007 | +15.6% |
| Income taxes | 67/77 | €22,061 | €25,859 | +€3,798 | +17.2% |
| Profit (loss) for the period | 9904 | €80,856 | €93,065 | +€12,209 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,856 | €93,065 | +€12,209 | +15.1% |
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 11 October 2026 via checked.be.