Etirol: 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.
Etirol
Largest movements
- Cash +€55,249
up €55,249 (+65.0%), from €84,979 to €140,228
mainly Current investments (+€40,000) and Net result for the year (+€34,657)
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets +€18,663
up €18,663 (+695%), from €2,687 to €21,350
of which Furniture and vehicles: +€20,007
- Receivables within one year +€17,572
up €17,572 (+76.8%), from €22,865 to €40,437
of which Trade receivables: +€11,572
- Stocks and contracts -€6,226
down €6,226 (-10.5%), from €59,432 to €53,206
- Reserves +€187,360
up €187,360 (+421%), from €44,500 to €231,860
of which Distributable reserves: +€187,360
- Profit (loss) carried forward -€152,702
down €152,702 (-99.5%), from €153,423 to €721
- Trade debts +€9,850
up €9,850 (+2,632%), from €374 to €10,224
- Taxes +€9,115
up €9,115 (+95.7%), from €9,525 to €18,640
- Depreciation +€5,002
up €5,002 (+372%), from €1,343 to €6,345
- Gross operating margin -€3,803
down €3,803 (-5.8%), from €66,025 to €62,222
- Other operating charges +€2,234
up €2,234 (+306%), from €730 to €2,964
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 | €212,018 | €257,276 | +€45,258 | +21.3% |
| Fixed assets | 21/28 | €4,742 | €23,405 | +€18,663 | +394% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €2,687 | €21,350 | +€18,663 | +695% |
| Land and buildings | 22 | €2,687 | €1,343 | -€1,344 | -50.0% |
| Furniture and vehicles | 24 | - | €20,007 | +€20,007 | |
| Financial fixed assets | 28 | €2,055 | €2,055 | = | 0.0% |
| Current assets | 29/58 | €207,276 | €233,871 | +€26,595 | +12.8% |
| Stocks and contracts in progress | 3 | €59,432 | €53,206 | -€6,226 | -10.5% |
| Stocks | 30/36 | €59,432 | €53,206 | -€6,226 | -10.5% |
| Amounts receivable within one year | 40/41 | €22,865 | €40,437 | +€17,572 | +76.8% |
| Trade receivables | 40 | €22,865 | €34,437 | +€11,572 | +50.6% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €84,979 | €140,228 | +€55,249 | +65.0% |
| Total equity and liabilities | 10/49 | €212,018 | €257,276 | +€45,258 | +21.3% |
| Equity | 10/15 | €197,923 | €232,581 | +€34,658 | +17.5% |
| Reserves | 13 | €44,500 | €231,860 | +€187,360 | +421% |
| 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 | €42,640 | €230,000 | +€187,360 | +439% |
| Profit (loss) carried forward | 14 | €153,423 | €721 | -€152,702 | -99.5% |
| Amounts payable | 17/49 | €14,094 | €24,695 | +€10,601 | +75.2% |
| Amounts payable within one year | 42/48 | €13,395 | €23,793 | +€10,398 | +77.6% |
| Trade debts | 44 | €374 | €10,224 | +€9,850 | +2,632% |
| Suppliers | 440/4 | €374 | €10,224 | +€9,850 | +2,632% |
| Taxes, remuneration and social security | 45 | €13,020 | €13,569 | +€549 | +4.2% |
| Taxes | 450/3 | €13,020 | €13,569 | +€549 | +4.2% |
| Accrued charges and deferred income | 492/3 | €700 | €902 | +€202 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,343 | €6,345 | +€5,002 | +372% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €290 | €489 | +€199 | +68.4% |
| Other operating charges | 640/8 | €730 | €2,964 | +€2,234 | +306% |
| Gross operating margin | 9900 | €66,025 | €62,222 | -€3,803 | -5.8% |
| Operating profit (loss) | 9901 | €63,661 | €52,424 | -€11,237 | -17.7% |
| Financial income | 75/76B | €718 | €1,260 | +€542 | +75.6% |
| Recurring financial income | 75 | €718 | €1,260 | +€542 | +75.6% |
| Financial charges | 65/66B | €420 | €387 | -€33 | -7.8% |
| Recurring financial charges | 65 | €420 | €387 | -€33 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €63,959 | €53,297 | -€10,662 | -16.7% |
| Income taxes | 67/77 | €9,525 | €18,640 | +€9,115 | +95.7% |
| Profit (loss) for the period | 9904 | €54,434 | €34,657 | -€19,777 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,434 | €34,657 | -€19,777 | -36.3% |
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 18 October 2026 via checked.be.