ETL FIN: 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.
ETL FIN
Largest movements
- Cash +€61,280
up €61,280 (+1,579%), from €3,881 to €65,161
mainly Net result for the year (+€43,285) and Tax, wage and social debts (+€13,091)
- Receivables within one year -€8,851
down €8,851 (-43.2%), from €20,498 to €11,646
of which Trade receivables: -€7,653
- Tangible fixed assets +€3,708
new in 2025: €3,708
- Reserves +€43,285
up €43,285 (+311%), from €13,927 to €57,212
- Tax, wage and social debts +€13,091
up €13,091 (+220%), from €5,964 to €19,055
of which Taxes: +€14,966
- Gross operating margin +€39,330
up €39,330 (+217%), from €18,116 to €57,446
- Taxes +€8,076
up €8,076 (+198%), from €4,089 to €12,165
- Financial charges +€1,454
up €1,454 (+1,442%), from €101 to €1,555
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 | €24,379 | €80,515 | +€56,136 | +230% |
| Fixed assets | 21/28 | - | €3,708 | +€3,708 | |
| Tangible fixed assets | 22/27 | - | €3,708 | +€3,708 | |
| Furniture and vehicles | 24 | - | €3,708 | +€3,708 | |
| Current assets | 29/58 | €24,379 | €76,807 | +€52,428 | +215% |
| Amounts receivable within one year | 40/41 | €20,498 | €11,646 | -€8,851 | -43.2% |
| Trade receivables | 40 | €19,300 | €11,646 | -€7,653 | -39.7% |
| Other amounts receivable | 41 | €1,198 | €0 | -€1,198 | -100% |
| Cash at bank and in hand | 54/58 | €3,881 | €65,161 | +€61,280 | +1,579% |
| Total equity and liabilities | 10/49 | €24,379 | €80,515 | +€56,136 | +230% |
| Equity | 10/15 | €16,927 | €60,212 | +€43,285 | +256% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,927 | €57,212 | +€43,285 | +311% |
| Distributable reserves | 133 | €13,927 | €57,212 | +€43,285 | +311% |
| Amounts payable | 17/49 | €7,452 | €20,303 | +€12,851 | +172% |
| Amounts payable within one year | 42/48 | €7,152 | €20,303 | +€13,151 | +184% |
| Trade debts | 44 | €1,166 | €954 | -€212 | -18.2% |
| Suppliers | 440/4 | €1,166 | €954 | -€212 | -18.2% |
| Taxes, remuneration and social security | 45 | €5,964 | €19,055 | +€13,091 | +220% |
| Taxes | 450/3 | €4,089 | €19,055 | +€14,966 | +366% |
| Remuneration and social security | 454/9 | €1,875 | €0 | -€1,875 | -100% |
| Other amounts payable | 47/48 | €22 | €294 | +€272 | +1,248% |
| Accrued charges and deferred income | 492/3 | €300 | €0 | -€300 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €423 | +€423 | |
| Other operating charges | 640/8 | - | €164 | +€164 | |
| Gross operating margin | 9900 | €18,116 | €57,446 | +€39,330 | +217% |
| Operating profit (loss) | 9901 | €18,116 | €56,859 | +€38,743 | +214% |
| Financial income | 75/76B | - | €146 | +€146 | |
| Recurring financial income | 75 | - | €146 | +€146 | |
| Financial charges | 65/66B | €101 | €1,555 | +€1,454 | +1,442% |
| Recurring financial charges | 65 | €101 | €1,555 | +€1,454 | +1,442% |
| Profit (loss) for the period before taxes | 9903 | €18,016 | €55,450 | +€37,435 | +208% |
| Income taxes | 67/77 | €4,089 | €12,165 | +€8,076 | +198% |
| Profit (loss) for the period | 9904 | €13,927 | €43,285 | +€29,358 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €13,927 | €43,285 | +€29,358 | +211% |
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 17 October 2026 via checked.be.