ETOILE S & P CONCEPT: what changed
ETOILE S & P CONCEPT
Largest movements
- Cash +€259,480
up €259,480 (+135%), from €191,894 to €451,374
mainly Net result for the year (+€329,964) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-6.3%), from €1.6m to €1.5m
- Reserves +€329,964
up €329,964 (+676%), from €48,800 to €378,764
of which Distributable reserves: +€329,964
- Profit (loss) carried forward -€262,857
down €262,857 (-15.0%), from €1.8m to €1.5m
- Tax, wage and social debts +€94,368
up €94,368 (+1,766%), from €5,343 to €99,711
of which Taxes: +€99,711
- Financial income +€160,681
up €160,681 (+69.9%), from €229,794 to €390,476
- Taxes +€32,996
new in 2025: €32,996
- Gross operating margin -€6,876
down €6,876 (-48.7%), from -€14,127 to -€21,003
- Depreciation +€1,055
up €1,055 (+21.4%), from €4,935 to €5,990
- Other operating charges -€944
down €944 (-70.2%), from €1,345 to €401
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,302,795 | €2,464,271 | +€161,475 | +7.0% |
| Fixed assets | 21/28 | €510,901 | €512,897 | +€1,995 | +0.4% |
| Tangible fixed assets | 22/27 | €22,901 | €24,897 | +€1,995 | +8.7% |
| Other tangible fixed assets | 26 | €22,901 | €24,897 | +€1,995 | +8.7% |
| Financial fixed assets | 28 | €488,000 | €488,000 | = | 0.0% |
| Current assets | 29/58 | €1,791,894 | €1,951,374 | +€159,480 | +8.9% |
| Current investments | 50/53 | €1,600,000 | €1,500,000 | -€100,000 | -6.3% |
| Cash at bank and in hand | 54/58 | €191,894 | €451,374 | +€259,480 | +135% |
| Total equity and liabilities | 10/49 | €2,302,795 | €2,464,271 | +€161,475 | +7.0% |
| Equity | 10/15 | €2,286,907 | €2,354,014 | +€67,107 | +2.9% |
| Contributions | 10/11 | €488,000 | €488,000 | = | 0.0% |
| Reserves | 13 | €48,800 | €378,764 | +€329,964 | +676% |
| Non-distributable reserves | 130/1 | €48,800 | €48,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €48,800 | €48,800 | = | 0.0% |
| Distributable reserves | 133 | - | €329,964 | +€329,964 | |
| Profit (loss) carried forward | 14 | €1,750,107 | €1,487,250 | -€262,857 | -15.0% |
| Amounts payable | 17/49 | €15,888 | €110,257 | +€94,368 | +594% |
| Amounts payable within one year | 42/48 | €15,888 | €110,257 | +€94,368 | +594% |
| Taxes, remuneration and social security | 45 | €5,343 | €99,711 | +€94,368 | +1,766% |
| Taxes | 450/3 | - | €99,711 | +€99,711 | |
| Remuneration and social security | 454/9 | €5,343 | - | -€5,343 | |
| Other amounts payable | 47/48 | €10,546 | €10,546 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,935 | €5,990 | +€1,055 | +21.4% |
| Other operating charges | 640/8 | €1,345 | €401 | -€944 | -70.2% |
| Gross operating margin | 9900 | -€14,127 | -€21,003 | -€6,876 | -48.7% |
| Operating profit (loss) | 9901 | -€20,407 | -€27,394 | -€6,987 | -34.2% |
| Financial income | 75/76B | €229,794 | €390,476 | +€160,681 | +69.9% |
| Recurring financial income | 75 | €229,794 | €390,476 | +€160,681 | +69.9% |
| Financial charges | 65/66B | €48 | €121 | +€74 | +155% |
| Recurring financial charges | 65 | €48 | €121 | +€74 | +155% |
| Profit (loss) for the period before taxes | 9903 | €209,340 | €362,961 | +€153,621 | +73.4% |
| Income taxes | 67/77 | - | €32,996 | +€32,996 | |
| Profit (loss) for the period | 9904 | €209,340 | €329,964 | +€120,624 | +57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €209,340 | €329,964 | +€120,624 | +57.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.