ETR: 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.
ETR
Largest movements
- Cash +€948
up €948 (+2.9%), from €33,235 to €34,182
mainly Net result for the year (+€2,509) and Tax, wage and social debts (+€93)
- Profit (loss) carried forward +€2,509
up €2,509 (+16.3%), from €15,368 to €17,877
- Accrued charges and deferred income -€1,500
no longer reported in 2025 (was €1,500)
- Purchases and services -€1,884
down €1,884 (-46.8%), from €4,028 to €2,143
- Staff costs -€1,468
down €1,468 (-77.8%), from €1,887 to €419
- Gross operating margin +€1,001
up €1,001 (+54.0%), from €1,855 to €2,857
- Turnover -€883
down €883 (-15.0%), from €5,883 to €5,000
- Financial income +€99
up €99 (+165.1%), from €60 to €159
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.
Cash bridge derived
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 | €39,025 | €40,078 | +€1,053 | +2.7% |
| Formation expenses | 20 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €38,125 | €39,178 | +€1,053 | +2.8% |
| Amounts receivable within one year | 40/41 | €4,890 | €4,996 | +€105 | +2.2% |
| Trade receivables | 40 | €4,022 | €4,022 | = | 0.0% |
| Other amounts receivable | 41 | €868 | €973 | +€105 | +12.1% |
| Cash at bank and in hand | 54/58 | €33,235 | €34,182 | +€948 | +2.9% |
| Total equity and liabilities | 10/49 | €39,025 | €40,078 | +€1,053 | +2.7% |
| Equity | 10/15 | €35,828 | €38,337 | +€2,509 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,368 | €17,877 | +€2,509 | +16.3% |
| Amounts payable | 17/49 | €3,197 | €1,742 | -€1,456 | -45.5% |
| Amounts payable within one year | 42/48 | €1,697 | €1,742 | +€44 | +2.6% |
| Trade debts | 44 | €436 | €436 | = | 0.0% |
| Bills of exchange payable | 441 | €436 | €436 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €110 | €203 | +€93 | +84.7% |
| Taxes | 450/3 | €110 | €203 | +€93 | +84.7% |
| Other amounts payable | 47/48 | €1,151 | €1,102 | -€49 | -4.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | - | -€1,500 | |
| Turnover | 70 | €5,883 | €5,000 | -€883 | -15.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,028 | €2,143 | -€1,884 | -46.8% |
| Remuneration, social security and pensions | 62 | €1,887 | €419 | -€1,468 | -77.8% |
| Other operating charges | 640/8 | €161 | €88 | -€73 | -45.5% |
| Gross operating margin | 9900 | €1,855 | €2,857 | +€1,001 | +54.0% |
| Operating profit (loss) | 9901 | -€193 | €2,350 | +€2,543 | |
| Financial income | 75/76B | €60 | €159 | +€99 | +165.1% |
| Recurring financial income | 75 | €60 | €159 | +€99 | +165.1% |
| Profit (loss) for the period before taxes | 9903 | -€133 | €2,509 | +€2,642 | |
| Profit (loss) for the period | 9904 | -€133 | €2,509 | +€2,642 | |
| Profit (loss) for the period to be appropriated | 9905 | -€133 | €2,509 | +€2,642 |
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 9 October 2026 via checked.be.