ETOILE EC: 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.
ETOILE EC
Largest movements
- Financial fixed assets -€217,311
no longer reported in 2025 (was €217,311)
- Receivables within one year +€78,587
up €78,587 (+474%), from €16,569 to €95,156
of which Other amounts receivable: +€69,305
- Cash -€10,383
down €10,383 (-66.0%), from €15,736 to €5,353
mainly Other debts (-€167,582) and Receivables within one year (-€78,587)
- Tangible fixed assets +€5,134
up €5,134 (+7.5%), from €68,125 to €73,258
of which Furniture and vehicles: +€22,626
- Other debts -€167,582
down €167,582 (-76.4%), from €219,366 to €51,784
- Profit (loss) carried forward +€13,518
up €13,518 (+42.9%), from -€31,529 to -€18,011
- Current portion of long-term debt +€8,793
up €8,793 (+56.7%), from €15,500 to €24,293
- Short-term financial debts -€5,000
no longer reported in 2025 (was €5,000)
- Tax, wage and social debts +€3,785
up €3,785 (+35.8%), from €10,568 to €14,353
of which Remuneration and social security: +€2,000
- Other operating charges +€26,816
up €26,816 (+76.2%), from €35,178 to €61,994
- Gross operating margin +€26,207
up €26,207 (+30.8%), from €85,015 to €111,222
- Depreciation -€8,916
down €8,916 (-67.7%), from €13,166 to €4,250
- Taxes -€5,084
down €5,084 (-69.5%), from €7,312 to €2,229
- Financial income +€4,545
new in 2025: €4,545
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 | €317,740 | €173,767 | -€143,973 | -45.3% |
| Fixed assets | 21/28 | €285,435 | €73,258 | -€212,177 | -74.3% |
| Tangible fixed assets | 22/27 | €68,125 | €73,258 | +€5,134 | +7.5% |
| Furniture and vehicles | 24 | - | €22,626 | +€22,626 | |
| Other tangible fixed assets | 26 | €68,125 | €50,632 | -€17,493 | -25.7% |
| Financial fixed assets | 28 | €217,311 | - | -€217,311 | |
| Current assets | 29/58 | €32,305 | €100,509 | +€68,204 | +211% |
| Amounts receivable within one year | 40/41 | €16,569 | €95,156 | +€78,587 | +474% |
| Trade receivables | 40 | €5,414 | €14,696 | +€9,282 | +171% |
| Other amounts receivable | 41 | €11,155 | €80,460 | +€69,305 | +621% |
| Cash at bank and in hand | 54/58 | €15,736 | €5,353 | -€10,383 | -66.0% |
| Total equity and liabilities | 10/49 | €317,740 | €173,767 | -€143,973 | -45.3% |
| Equity | 10/15 | €59,567 | €73,085 | +€13,518 | +22.7% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €1,096 | €1,096 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,096 | €1,096 | = | 0.0% |
| Legal reserve | 130 | €1,096 | €1,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,529 | -€18,011 | +€13,518 | +42.9% |
| Amounts payable | 17/49 | €258,173 | €100,683 | -€157,490 | -61.0% |
| Amounts payable within one year | 42/48 | €258,173 | €100,683 | -€157,490 | -61.0% |
| Current portion of amounts payable after more than one year | 42 | €15,500 | €24,293 | +€8,793 | +56.7% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €7,739 | €10,254 | +€2,514 | +32.5% |
| Suppliers | 440/4 | €7,739 | €10,254 | +€2,514 | +32.5% |
| Taxes, remuneration and social security | 45 | €10,568 | €14,353 | +€3,785 | +35.8% |
| Taxes | 450/3 | €10,568 | €12,353 | +€1,785 | +16.9% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €219,366 | €51,784 | -€167,582 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,166 | €4,250 | -€8,916 | -67.7% |
| Other operating charges | 640/8 | €35,178 | €61,994 | +€26,816 | +76.2% |
| Gross operating margin | 9900 | €85,015 | €111,222 | +€26,207 | +30.8% |
| Operating profit (loss) | 9901 | €36,671 | €44,977 | +€8,307 | +22.7% |
| Financial income | 75/76B | - | €4,545 | +€4,545 | |
| Recurring financial income | 75 | - | €4,545 | +€4,545 | |
| Financial charges | 65/66B | €31,591 | €33,776 | +€2,186 | +6.9% |
| Recurring financial charges | 65 | €31,591 | €33,776 | +€2,186 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €5,080 | €15,746 | +€10,666 | +210% |
| Income taxes | 67/77 | €7,312 | €2,229 | -€5,084 | -69.5% |
| Profit (loss) for the period | 9904 | -€2,233 | €13,518 | +€15,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,233 | €13,518 | +€15,750 |
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.