ETIKET: 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.
ETIKET
Largest movements
- Tangible fixed assets -€39,115
down €39,115 (-10.8%), from €361,849 to €322,734
of which Land and buildings: -€26,771
- Receivables within one year -€6,513
down €6,513 (-25.7%), from €25,337 to €18,824
of which Trade receivables: -€6,562
- Trade debts -€23,860
down €23,860 (-54.1%), from €44,071 to €20,211
- Debts after one year -€15,620
down €15,620 (-43.4%), from €36,013 to €20,393
- Other debts +€9,008
up €9,008 (+2.2%), from €412,500 to €421,509
- Profit (loss) carried forward -€8,905
down €8,905 (-6.2%), from -€142,618 to -€151,523
- Gross operating margin +€34,604
up €34,604 (+198%), from €17,457 to €52,061
- Financial income +€15,077
up €15,077 (+321,464%), from €5 to €15,081
- Staff costs -€2,550
down €2,550 (-7.1%), from €35,980 to €33,430
- Taxes -€1,984
down €1,984 (-81.5%), from €2,435 to €451
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 | €451,135 | €409,617 | -€41,517 | -9.2% |
| Fixed assets | 21/28 | €362,123 | €323,008 | -€39,115 | -10.8% |
| Tangible fixed assets | 22/27 | €361,849 | €322,734 | -€39,115 | -10.8% |
| Land and buildings | 22 | €338,126 | €311,355 | -€26,771 | -7.9% |
| Furniture and vehicles | 24 | €23,723 | €11,380 | -€12,343 | -52.0% |
| Financial fixed assets | 28 | €274 | €274 | = | 0.0% |
| Current assets | 29/58 | €89,012 | €86,609 | -€2,403 | -2.7% |
| Stocks and contracts in progress | 3 | €57,617 | €61,750 | +€4,133 | +7.2% |
| Stocks | 30/36 | €57,617 | €61,750 | +€4,133 | +7.2% |
| Amounts receivable within one year | 40/41 | €25,337 | €18,824 | -€6,513 | -25.7% |
| Trade receivables | 40 | €25,337 | €18,775 | -€6,562 | -25.9% |
| Other amounts receivable | 41 | - | €49 | +€49 | |
| Cash at bank and in hand | 54/58 | €885 | €1,136 | +€250 | +28.3% |
| Deferred charges and accrued income | 490/1 | €5,172 | €4,899 | -€273 | -5.3% |
| Total equity and liabilities | 10/49 | €451,135 | €409,617 | -€41,517 | -9.2% |
| Equity | 10/15 | -€61,579 | -€70,484 | -€8,905 | -14.5% |
| Contributions | 10/11 | €62,184 | €62,184 | = | 0.0% |
| Reserves | 13 | €18,855 | €18,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,218 | €6,218 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,218 | €6,218 | = | 0.0% |
| Distributable reserves | 133 | €12,637 | €12,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,618 | -€151,523 | -€8,905 | -6.2% |
| Amounts payable | 17/49 | €512,714 | €480,101 | -€32,613 | -6.4% |
| Amounts payable after more than one year | 17 | €36,013 | €20,393 | -€15,620 | -43.4% |
| Financial debts | 170/4 | €36,013 | €20,393 | -€15,620 | -43.4% |
| Amounts payable within one year | 42/48 | €476,701 | €459,708 | -€16,993 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €15,406 | €15,525 | +€119 | +0.8% |
| Trade debts | 44 | €44,071 | €20,211 | -€23,860 | -54.1% |
| Suppliers | 440/4 | €44,071 | €20,211 | -€23,860 | -54.1% |
| Taxes, remuneration and social security | 45 | €4,724 | €2,463 | -€2,261 | -47.9% |
| Taxes | 450/3 | €2,405 | €1,765 | -€640 | -26.6% |
| Remuneration and social security | 454/9 | €2,319 | €697 | -€1,621 | -69.9% |
| Other amounts payable | 47/48 | €412,500 | €421,509 | +€9,008 | +2.2% |
| Remuneration, social security and pensions | 62 | €35,980 | €33,430 | -€2,550 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,115 | €39,115 | = | 0.0% |
| Other operating charges | 640/8 | €1,504 | €1,669 | +€164 | +10.9% |
| Gross operating margin | 9900 | €17,457 | €52,061 | +€34,604 | +198% |
| Operating profit (loss) | 9901 | -€59,141 | -€22,151 | +€36,990 | +62.5% |
| Financial income | 75/76B | €5 | €15,081 | +€15,077 | +321,464% |
| Recurring financial income | 75 | €5 | €15,081 | +€15,077 | +321,464% |
| Financial charges | 65/66B | €1,700 | €1,384 | -€316 | -18.6% |
| Recurring financial charges | 65 | €1,700 | €1,384 | -€316 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | -€60,837 | -€8,454 | +€52,383 | +86.1% |
| Income taxes | 67/77 | €2,435 | €451 | -€1,984 | -81.5% |
| Profit (loss) for the period | 9904 | -€63,272 | -€8,905 | +€54,367 | +85.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,272 | -€8,905 | +€54,367 | +85.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.