Etilux: 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.
What changed
Etilux
NACE 46.492, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€130,503
2024 · €37,710+€92,793
Equity
€648,395
2024 · €518,734+€129,661
Cash
€280,662
2024 · €92,752+€187,909
Balance sheet total
€4.4m
2024 · €3.7m+€667,691
Largest movements
Assets
- Receivables within one year +€652,332
up €652,332 (+40.0%), from €1.6m to €2.3m
of which Trade receivables: +€651,837
- Cash +€187,909
up €187,909 (+203%), from €92,752 to €280,662
mainly Trade debts (+€547,082) and Depreciation (+€137,858)
- Financial fixed assets -€82,181
down €82,181 (-31.9%), from €257,334 to €175,153
of which Affiliated companies: -€219,508
- Deferred charges and accrued income -€62,918
down €62,918 (-35.8%), from €175,908 to €112,990
- Intangible fixed assets -€53,931
down €53,931 (-16.0%), from €337,732 to €283,801
Equity and liabilities
- Trade debts +€547,082
up €547,082 (+28.0%), from €2.0m to €2.5m
- Profit (loss) carried forward +€130,503
up €130,503 (+116%), from €112,958 to €243,461
- Tax, wage and social debts +€114,618
up €114,618 (+25.4%), from €451,845 to €566,463
of which Remuneration and social security: +€71,977
- Advances received -€52,607
down €52,607 (-39.0%), from €134,973 to €82,367
- Debts after one year -€47,878
down €47,878 (-22.3%), from €214,556 to €166,678
Income statement
- Turnover -€16.6m
no longer reported in 2025 (was €16.6m)
- Goods and materials -€11.5m
no longer reported in 2025 (was €11.5m)
of which Purchases: -€11.3m
- Gross operating margin +€3.1m
new in 2025: €3.1m
- Services and other goods -€2.3m
no longer reported in 2025 (was €2.3m)
- Other operating income -€387,890
no longer reported in 2025 (was €387,890)
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.
Result 2024
€37,710
Turnover
-€16.6m
Other operating income
-€387,890
Goods and materials
+€11.5m
Services and other goods
+€2.3m
Staff costs
+€121,596
Depreciation
+€42,838
Write-downs
+€27,849
Other operating charges
+€765
Other operating items
+€3.1m
Financial income
-€12,577
Financial charges
+€25,191
Taxes
+€239
Result 2025
€130,503
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€247,048
Investment
+€21,758
Financing
-€80,897
Cash 2024
€92,752
From operations (derived)
+€247,048
Net result for the year
+€130,503
Depreciation
+€137,858
Stocks and contracts
-€49,984
Receivables within one year
-€652,332
Deferred charges and accrued income
+€62,918
Trade debts
+€547,082
Tax, wage and social debts
+€114,618
Advances received
-€52,607
Other debts
+€8,956
Accrued charges and deferred income
+€36
Investment (derived)
+€21,758
Investment in fixed assets (net)
+€21,758
Financing
-€80,897
Debts after one year
-€47,878
Current portion of long-term debt
+€3,124
Short-term financial debts
-€35,301
Contributions, distributions and other
-€842
Cash 2025
€280,662
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,691,079 | €4,358,770 | +€667,691 | +18.1% |
| Fixed assets | 21/28 | €786,367 | €626,750 | -€159,616 | -20.3% |
| Intangible fixed assets | 21 | €337,732 | €283,801 | -€53,931 | -16.0% |
| Tangible fixed assets | 22/27 | €191,301 | €167,796 | -€23,505 | -12.3% |
| Land and buildings | 22 | €114,556 | €0 | -€114,556 | -100% |
| Plant, machinery and equipment | 23 | €10,496 | €6,800 | -€3,696 | -35.2% |
| Furniture and vehicles | 24 | €61,570 | €83,683 | +€22,113 | +35.9% |
| Other tangible fixed assets | 26 | - | €77,313 | +€77,313 | |
| Assets under construction and advance payments | 27 | €4,679 | €0 | -€4,679 | -100% |
| Financial fixed assets | 28 | €257,334 | €175,153 | -€82,181 | -31.9% |
| Affiliated companies | 280/1 | €219,508 | - | -€219,508 | |
| Participating interests | 280 | €30,839 | - | -€30,839 | |
| Amounts receivable | 281 | €188,669 | - | -€188,669 | |
| Other financial fixed assets | 284/8 | €37,826 | - | -€37,826 | |
| Shares | 284 | €1,500 | - | -€1,500 | |
| Amounts receivable and cash guarantees | 285/8 | €36,326 | - | -€36,326 | |
| Current assets | 29/58 | €2,904,712 | €3,732,020 | +€827,308 | +28.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,004,660 | €1,054,644 | +€49,984 | +5.0% |
| Stocks | 30/36 | €1,004,660 | €1,054,644 | +€49,984 | +5.0% |
| Goods purchased for resale | 34 | €1,004,660 | - | -€1.0m | |
| Amounts receivable within one year | 40/41 | €1,631,393 | €2,283,725 | +€652,332 | +40.0% |
| Trade receivables | 40 | €1,582,347 | €2,234,184 | +€651,837 | +41.2% |
| Other amounts receivable | 41 | €49,046 | €49,540 | +€495 | +1.0% |
| Cash at bank and in hand | 54/58 | €92,752 | €280,662 | +€187,909 | +203% |
| Deferred charges and accrued income | 490/1 | €175,908 | €112,990 | -€62,918 | -35.8% |
| Total equity and liabilities | 10/49 | €3,691,079 | €4,358,770 | +€667,691 | +18.1% |
| Equity | 10/15 | €518,734 | €648,395 | +€129,661 | +25.0% |
| Contributions | 10/11 | €358,590 | €358,590 | = | 0.0% |
| Capital | 10 | €358,590 | €358,590 | = | 0.0% |
| Issued capital | 100 | €358,590 | €358,590 | = | 0.0% |
| Reserves | 13 | €44,921 | €44,921 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,859 | €35,859 | = | 0.0% |
| Legal reserve | 130 | €35,859 | €35,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,062 | €9,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,958 | €243,461 | +€130,503 | +116% |
| Investment grants | 15 | €2,265 | €1,423 | -€842 | -37.2% |
| Amounts payable | 17/49 | €3,172,345 | €3,710,376 | +€538,030 | +17.0% |
| Amounts payable after more than one year | 17 | €214,556 | €166,678 | -€47,878 | -22.3% |
| Financial debts | 170/4 | €214,556 | €166,678 | -€47,878 | -22.3% |
| Credit institutions | 173 | €214,556 | - | -€214,556 | |
| Other loans | 174 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,954,070 | €3,539,942 | +€585,872 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €77,918 | €81,042 | +€3,124 | +4.0% |
| Financial debts | 43 | €318,677 | €283,376 | -€35,301 | -11.1% |
| Credit institutions | 430/8 | €318,677 | €283,376 | -€35,301 | -11.1% |
| Trade debts | 44 | €1,957,284 | €2,504,366 | +€547,082 | +28.0% |
| Suppliers | 440/4 | €1,957,284 | €2,504,366 | +€547,082 | +28.0% |
| Advances received on contracts in progress | 46 | €134,973 | €82,367 | -€52,607 | -39.0% |
| Taxes, remuneration and social security | 45 | €451,845 | €566,463 | +€114,618 | +25.4% |
| Taxes | 450/3 | €122,745 | €165,386 | +€42,641 | +34.7% |
| Remuneration and social security | 454/9 | €329,100 | €401,077 | +€71,977 | +21.9% |
| Other amounts payable | 47/48 | €13,372 | €22,328 | +€8,956 | +67.0% |
| Accrued charges and deferred income | 492/3 | €3,720 | €3,756 | +€36 | +1.0% |
| Operating income | 70/76A | €16,978,696 | - | -€17.0m | |
| Turnover | 70 | €16,590,806 | - | -€16.6m | |
| Other operating income | 74 | €387,890 | - | -€387,890 | |
| Operating charges | 60/66A | €16,852,190 | - | -€16.9m | |
| Goods for resale, raw materials and consumables | 60 | €11,496,076 | - | -€11.5m | |
| Purchases | 600/8 | €11,338,733 | - | -€11.3m | |
| Change in stocks: decrease (increase) | 609 | €157,344 | - | -€157,344 | |
| Services and other goods | 61 | €2,307,829 | - | -€2.3m | |
| Remuneration, social security and pensions | 62 | €2,826,669 | €2,705,073 | -€121,596 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,697 | €137,858 | -€42,838 | -23.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,361 | -€23,487 | -€27,849 | |
| Other operating charges | 640/8 | €36,558 | €35,793 | -€765 | -2.1% |
| Gross operating margin | 9900 | - | €3,061,683 | +€3.1m | |
| Operating profit (loss) | 9901 | €126,506 | €206,446 | +€79,940 | +63.2% |
| Financial income | 75/76B | €31,966 | €19,389 | -€12,577 | -39.3% |
| Recurring financial income | 75 | €31,966 | €19,389 | -€12,577 | -39.3% |
| Income from current assets | 751 | €8,864 | - | -€8,864 | |
| Other financial income | 752/9 | €23,103 | - | -€23,103 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €116,836 | €91,645 | -€25,191 | -21.6% |
| Recurring financial charges | 65 | €116,836 | €91,645 | -€25,191 | -21.6% |
| Debt charges | 650 | €85,957 | - | -€85,957 | |
| Other financial charges | 652/9 | €30,879 | - | -€30,879 | |
| Profit (loss) for the period before taxes | 9903 | €41,636 | €134,190 | +€92,554 | +222% |
| Income taxes | 67/77 | €3,926 | €3,687 | -€239 | -6.1% |
| Taxes | 670/3 | €3,926 | - | -€3,926 | |
| Profit (loss) for the period | 9904 | €37,710 | €130,503 | +€92,793 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €37,710 | €130,503 | +€92,793 | +246% |
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 18 October 2026 via checked.be.