Etina: 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.
Etina
Largest movements
- Cash +€19,018
up €19,018 (+8.9%), from €213,590 to €232,607
mainly Net result for the year (+€17,237) and Receivables within one year (+€3,485)
- Reserves +€66,137
up €66,137 (+24.1%), from €274,667 to €340,803
of which Distributable reserves: +€66,137
- Profit (loss) carried forward -€48,899
no longer reported in 2025 (was €48,899)
- Gross operating margin +€37,025
up €37,025, from -€22,984 to €14,041
- Financial income +€1,787
up €1,787 (+41.7%), from €4,290 to €6,076
- Taxes +€1,640
up €1,640 (+640%), from €256 to €1,897
- Financial charges -€683
down €683 (-81.9%), from €833 to €150
- Other operating charges -€281
down €281 (-25.2%), from €1,114 to €833
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 | €336,635 | €355,681 | +€19,046 | +5.7% |
| Fixed assets | 21/28 | €65 | €65 | = | 0.0% |
| Financial fixed assets | 28 | €65 | €65 | = | 0.0% |
| Current assets | 29/58 | €336,570 | €355,616 | +€19,046 | +5.7% |
| Amounts receivable within one year | 40/41 | €6,872 | €3,387 | -€3,485 | -50.7% |
| Trade receivables | 40 | €1,240 | €2,517 | +€1,277 | +103% |
| Other amounts receivable | 41 | €5,632 | €870 | -€4,762 | -84.5% |
| Current investments | 50/53 | €115,022 | €118,498 | +€3,476 | +3.0% |
| Cash at bank and in hand | 54/58 | €213,590 | €232,607 | +€19,018 | +8.9% |
| Deferred charges and accrued income | 490/1 | €1,087 | €1,123 | +€36 | +3.3% |
| Total equity and liabilities | 10/49 | €336,635 | €355,681 | +€19,046 | +5.7% |
| Equity | 10/15 | €335,966 | €353,203 | +€17,237 | +5.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €274,667 | €340,803 | +€66,137 | +24.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €272,807 | €338,943 | +€66,137 | +24.2% |
| Profit (loss) carried forward | 14 | €48,899 | - | -€48,899 | |
| Amounts payable | 17/49 | €669 | €2,478 | +€1,808 | +270% |
| Amounts payable within one year | 42/48 | €669 | €2,478 | +€1,808 | +270% |
| Trade debts | 44 | €469 | €52 | -€417 | -88.9% |
| Suppliers | 440/4 | €469 | €52 | -€417 | -88.9% |
| Taxes, remuneration and social security | 45 | €200 | €2,426 | +€2,226 | +1,113% |
| Taxes | 450/3 | €200 | €2,426 | +€2,226 | +1,113% |
| Other operating charges | 640/8 | €1,114 | €833 | -€281 | -25.2% |
| Gross operating margin | 9900 | -€22,984 | €14,041 | +€37,025 | |
| Operating profit (loss) | 9901 | -€24,098 | €13,208 | +€37,306 | |
| Financial income | 75/76B | €4,290 | €6,076 | +€1,787 | +41.7% |
| Recurring financial income | 75 | €4,290 | €6,076 | +€1,787 | +41.7% |
| Financial charges | 65/66B | €833 | €150 | -€683 | -81.9% |
| Recurring financial charges | 65 | €833 | €150 | -€683 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | -€20,641 | €19,134 | +€39,775 | |
| Income taxes | 67/77 | €256 | €1,897 | +€1,640 | +640% |
| Profit (loss) for the period | 9904 | -€20,898 | €17,237 | +€38,135 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,898 | €17,237 | +€38,135 |
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 22 October 2026 via checked.be.