ETOILE NRH: 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 NRH
Largest movements
- Financial fixed assets +€1.9m
up €1.9m (+37.5%), from €4.9m to €6.8m
- Current investments -€696,483
down €696,483 (-2.7%), from €26.0m to €25.3m
- Cash +€347,354
up €347,354 (+29.5%), from €1.2m to €1.5m
mainly Net result for the year (+€1.6m) and Current investments (+€696,483)
- Profit (loss) carried forward +€1.6m
up €1.6m (+9.2%), from €17.9m to €19.5m
- Debts after one year -€400,000
down €400,000 (-80.0%), from €500,000 to €100,000
- Tax, wage and social debts +€349,801
up €349,801 (+740%), from €47,277 to €397,078
- Financial income +€920,230
up €920,230 (+37.2%), from €2.5m to €3.4m
- Taxes +€245,797
up €245,797 (+46.2%), from €532,339 to €778,136
- Financial charges +€205,990
up €205,990 (+34.4%), from €599,301 to €805,291
of which Financial charges: +€205,990
- Gross operating margin -€6,836
down €6,836 (-6.0%), from -€114,848 to -€121,684
- Other operating charges +€3,658
up €3,658 (+9.3%), from €39,217 to €42,875
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 | €32,194,852 | €33,637,181 | +€1.4m | +4.5% |
| Fixed assets | 21/28 | €4,930,015 | €6,780,015 | +€1.9m | +37.5% |
| Financial fixed assets | 28 | €4,930,015 | €6,780,015 | +€1.9m | +37.5% |
| Current assets | 29/58 | €27,264,837 | €26,857,166 | -€407,671 | -1.5% |
| Amounts receivable within one year | 40/41 | €58,542 | €0 | -€58,542 | -100% |
| Other amounts receivable | 41 | €58,542 | €0 | -€58,542 | -100% |
| Current investments | 50/53 | €26,028,803 | €25,332,320 | -€696,483 | -2.7% |
| Cash at bank and in hand | 54/58 | €1,177,492 | €1,524,846 | +€347,354 | +29.5% |
| Total equity and liabilities | 10/49 | €32,194,852 | €33,637,181 | +€1.4m | +4.5% |
| Equity | 10/15 | €30,937,544 | €32,581,354 | +€1.6m | +5.3% |
| Contributions | 10/11 | €11,864,796 | €11,864,796 | = | 0.0% |
| Capital | 10 | €11,864,796 | €11,864,796 | = | 0.0% |
| Issued capital | 100 | €11,864,796 | €11,864,796 | = | 0.0% |
| Reserves | 13 | €1,186,480 | €1,186,480 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,186,480 | €1,186,480 | = | 0.0% |
| Legal reserve | 130 | €1,186,480 | €1,186,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,886,269 | €19,530,078 | +€1.6m | +9.2% |
| Amounts payable | 17/49 | €1,257,308 | €1,055,827 | -€201,481 | -16.0% |
| Amounts payable after more than one year | 17 | €500,000 | €100,000 | -€400,000 | -80.0% |
| Financial debts | 170/4 | €500,000 | €100,000 | -€400,000 | -80.0% |
| Amounts payable within one year | 42/48 | €481,903 | €797,077 | +€315,174 | +65.4% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 43 | €34,626 | €0 | -€34,626 | -100% |
| Credit institutions | 430/8 | €34,626 | €0 | -€34,626 | -100% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €47,277 | €397,078 | +€349,801 | +740% |
| Taxes | 450/3 | €47,277 | €397,078 | +€349,801 | +740% |
| Accrued charges and deferred income | 492/3 | €275,404 | €158,749 | -€116,655 | -42.4% |
| Other operating charges | 640/8 | €39,217 | €42,875 | +€3,658 | +9.3% |
| Gross operating margin | 9900 | -€114,848 | -€121,684 | -€6,836 | -6.0% |
| Operating profit (loss) | 9901 | -€154,065 | -€164,558 | -€10,494 | -6.8% |
| Financial income | 75/76B | €2,471,565 | €3,391,794 | +€920,230 | +37.2% |
| Recurring financial income | 75 | €2,471,565 | €3,391,794 | +€920,230 | +37.2% |
| Financial charges | 65/66B | €599,301 | €805,291 | +€205,990 | +34.4% |
| Recurring financial charges | 65 | €599,301 | €805,291 | +€205,990 | +34.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,718,199 | €2,421,945 | +€703,746 | +41.0% |
| Income taxes | 67/77 | €532,339 | €778,136 | +€245,797 | +46.2% |
| Profit (loss) for the period | 9904 | €1,185,860 | €1,643,809 | +€457,950 | +38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,185,860 | €1,643,809 | +€457,950 | +38.6% |
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 21 October 2026 via checked.be.