ETL Poultry: 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 Poultry
Largest movements
- Receivables within one year +€79,697
up €79,697 (+203%), from €39,305 to €119,002
of which Other amounts receivable: +€100,781
- Tangible fixed assets +€47,440
up €47,440 (+101%), from €46,917 to €94,358
of which Plant, machinery and equipment: +€46,242
- Cash +€35,050
up €35,050 (+45.2%), from €77,465 to €112,515
mainly Net result for the year (+€221,440) and Depreciation (+€27,830)
- Intangible fixed assets -€20,751
down €20,751 (-12.4%), from €167,767 to €147,016
- Reserves +€221,440
up €221,440 (+142%), from €155,466 to €376,906
of which Distributable reserves: +€116,190
- Other debts -€106,386
down €106,386 (-86.1%), from €123,619 to €17,233
- Trade debts +€23,565
up €23,565 (+314%), from €7,515 to €31,080
- Gross operating margin +€200,530
up €200,530 (+118%), from €169,629 to €370,159
- Taxes +€44,088
up €44,088 (+225%), from €19,600 to €63,688
- Staff costs +€11,417
up €11,417 (+26.4%), from €43,193 to €54,610
- Depreciation +€4,129
up €4,129 (+17.4%), from €23,701 to €27,830
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 | €331,881 | €473,196 | +€141,315 | +42.6% |
| Fixed assets | 21/28 | €214,684 | €241,374 | +€26,690 | +12.4% |
| Intangible fixed assets | 21 | €167,767 | €147,016 | -€20,751 | -12.4% |
| Tangible fixed assets | 22/27 | €46,917 | €94,358 | +€47,440 | +101% |
| Land and buildings | 22 | €35,785 | €37,823 | +€2,039 | +5.7% |
| Plant, machinery and equipment | 23 | €7,006 | €53,248 | +€46,242 | +660% |
| Furniture and vehicles | 24 | €4,126 | €3,286 | -€840 | -20.4% |
| Current assets | 29/58 | €117,197 | €231,822 | +€114,625 | +97.8% |
| Amounts receivable within one year | 40/41 | €39,305 | €119,002 | +€79,697 | +203% |
| Trade receivables | 40 | €24,195 | €3,111 | -€21,084 | -87.1% |
| Other amounts receivable | 41 | €15,110 | €115,891 | +€100,781 | +667% |
| Cash at bank and in hand | 54/58 | €77,465 | €112,515 | +€35,050 | +45.2% |
| Deferred charges and accrued income | 490/1 | €427 | €305 | -€122 | -28.6% |
| Total equity and liabilities | 10/49 | €331,881 | €473,196 | +€141,315 | +42.6% |
| Equity | 10/15 | €160,466 | €381,906 | +€221,440 | +138% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €155,466 | €376,906 | +€221,440 | +142% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €155,466 | €271,656 | +€116,190 | +74.7% |
| Amounts payable | 17/49 | €171,415 | €91,290 | -€80,125 | -46.7% |
| Amounts payable within one year | 42/48 | €171,415 | €91,290 | -€80,125 | -46.7% |
| Trade debts | 44 | €7,515 | €31,080 | +€23,565 | +314% |
| Suppliers | 440/4 | €7,515 | €31,080 | +€23,565 | +314% |
| Taxes, remuneration and social security | 45 | €40,281 | €42,977 | +€2,696 | +6.7% |
| Taxes | 450/3 | €38,342 | €38,969 | +€628 | +1.6% |
| Remuneration and social security | 454/9 | €1,939 | €4,008 | +€2,069 | +107% |
| Other amounts payable | 47/48 | €123,619 | €17,233 | -€106,386 | -86.1% |
| Remuneration, social security and pensions | 62 | €43,193 | €54,610 | +€11,417 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,701 | €27,830 | +€4,129 | +17.4% |
| Other operating charges | 640/8 | €845 | €1,301 | +€456 | +54.0% |
| Gross operating margin | 9900 | €169,629 | €370,159 | +€200,530 | +118% |
| Operating profit (loss) | 9901 | €101,891 | €286,418 | +€184,527 | +181% |
| Financial charges | 65/66B | €1,233 | €1,290 | +€57 | +4.6% |
| Recurring financial charges | 65 | €1,233 | €1,290 | +€57 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €100,658 | €285,128 | +€184,470 | +183% |
| Income taxes | 67/77 | €19,600 | €63,688 | +€44,088 | +225% |
| Profit (loss) for the period | 9904 | €81,058 | €221,440 | +€140,382 | +173% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,058 | €116,190 | +€35,132 | +43.3% |
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 23 October 2026 via checked.be.