ETIMEDIA: 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.
ETIMEDIA
Largest movements
- Cash +€113,705
up €113,705 (+148%), from €76,721 to €190,426
mainly Trade debts (+€218,297) and Current investments (+€70,009)
- Tangible fixed assets +€78,918
up €78,918 (+571%), from €13,826 to €92,744
of which Other tangible fixed assets: +€81,639
- Current investments -€70,009
down €70,009 (-100%), from €70,009 to €0
- Receivables within one year +€67,301
up €67,301 (+32.4%), from €207,841 to €275,141
of which Trade receivables: +€37,111
- Intangible fixed assets +€61,594
new in 2025: €61,594
- Trade debts +€218,297
up €218,297 (+223%), from €97,947 to €316,245
- Reserves -€85,784
down €85,784 (-20.1%), from €427,096 to €341,312
of which Distributable reserves: -€87,643
- Debts after one year +€55,860
new in 2025: €55,860
- Short-term financial debts +€27,527
new in 2025: €27,527
- Tax, wage and social debts +€22,732
up €22,732 (+46.4%), from €48,961 to €71,693
of which Taxes: +€19,743
- Gross operating margin -€232,767
down €232,767 (-87.5%), from €265,932 to €33,165
- Taxes -€45,727
down €45,727 (-99.3%), from €46,034 to €307
- Depreciation +€15,259
up €15,259 (+324%), from €4,709 to €19,968
- Staff costs +€12,698
up €12,698 (+16.0%), from €79,252 to €91,950
- Financial income +€5,544
up €5,544 (+259%), from €2,145 to €7,689
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 | €595,463 | €849,078 | +€253,615 | +42.6% |
| Fixed assets | 21/28 | €13,826 | €154,337 | +€140,512 | +1,016% |
| Intangible fixed assets | 21 | - | €61,594 | +€61,594 | |
| Tangible fixed assets | 22/27 | €13,826 | €92,744 | +€78,918 | +571% |
| Plant, machinery and equipment | 23 | €1,251 | €886 | -€366 | -29.2% |
| Furniture and vehicles | 24 | €12,574 | €10,219 | -€2,356 | -18.7% |
| Other tangible fixed assets | 26 | - | €81,639 | +€81,639 | |
| Current assets | 29/58 | €581,637 | €694,740 | +€113,103 | +19.4% |
| Stocks and contracts in progress | 3 | €225,999 | €228,703 | +€2,703 | +1.2% |
| Stocks | 30/36 | €225,999 | €228,703 | +€2,703 | +1.2% |
| Amounts receivable within one year | 40/41 | €207,841 | €275,141 | +€67,301 | +32.4% |
| Trade receivables | 40 | €179,402 | €216,513 | +€37,111 | +20.7% |
| Other amounts receivable | 41 | €28,439 | €58,628 | +€30,189 | +106% |
| Current investments | 50/53 | €70,009 | €0 | -€70,009 | -100% |
| Cash at bank and in hand | 54/58 | €76,721 | €190,426 | +€113,705 | +148% |
| Deferred charges and accrued income | 490/1 | €1,067 | €471 | -€596 | -55.9% |
| Total equity and liabilities | 10/49 | €595,463 | €849,078 | +€253,615 | +42.6% |
| Equity | 10/15 | €447,547 | €359,904 | -€87,643 | -19.6% |
| Contributions | 10/11 | €20,451 | €18,592 | -€1,859 | -9.1% |
| Reserves | 13 | €427,096 | €341,312 | -€85,784 | -20.1% |
| Non-distributable reserves | 130/1 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €427,096 | €339,453 | -€87,643 | -20.5% |
| Amounts payable | 17/49 | €147,916 | €489,174 | +€341,258 | +231% |
| Amounts payable after more than one year | 17 | - | €55,860 | +€55,860 | |
| Financial debts | 170/4 | - | €55,860 | +€55,860 | |
| Amounts payable within one year | 42/48 | €147,916 | €433,314 | +€285,398 | +193% |
| Current portion of amounts payable after more than one year | 42 | - | €16,841 | +€16,841 | |
| Financial debts | 43 | - | €27,527 | +€27,527 | |
| Credit institutions | 430/8 | - | €27,527 | +€27,527 | |
| Trade debts | 44 | €97,947 | €316,245 | +€218,297 | +223% |
| Suppliers | 440/4 | €97,947 | €316,245 | +€218,297 | +223% |
| Taxes, remuneration and social security | 45 | €48,961 | €71,693 | +€22,732 | +46.4% |
| Taxes | 450/3 | €39,428 | €59,171 | +€19,743 | +50.1% |
| Remuneration and social security | 454/9 | €9,532 | €12,522 | +€2,990 | +31.4% |
| Other amounts payable | 47/48 | €1,008 | €1,008 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €79,252 | €91,950 | +€12,698 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,709 | €19,968 | +€15,259 | +324% |
| Other operating charges | 640/8 | €11,177 | €10,694 | -€482 | -4.3% |
| Gross operating margin | 9900 | €265,932 | €33,165 | -€232,767 | -87.5% |
| Operating profit (loss) | 9901 | €170,794 | -€89,448 | -€260,242 | |
| Financial income | 75/76B | €2,145 | €7,689 | +€5,544 | +259% |
| Recurring financial income | 75 | €2,145 | €7,689 | +€5,544 | +259% |
| Financial charges | 65/66B | €3,441 | €5,577 | +€2,135 | +62.1% |
| Recurring financial charges | 65 | €3,441 | €5,577 | +€2,135 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €169,497 | -€87,336 | -€256,834 | |
| Income taxes | 67/77 | €46,034 | €307 | -€45,727 | -99.3% |
| Profit (loss) for the period | 9904 | €123,464 | -€87,643 | -€211,107 | |
| Profit (loss) for the period to be appropriated | 9905 | €123,464 | -€87,643 | -€211,107 |
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 15 October 2026 via checked.be.