ETRAX: 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.
ETRAX
Largest movements
- Stocks and contracts -€10,000
down €10,000 (-4.8%), from €207,826 to €197,826
- Receivables within one year -€5,820
down €5,820 (-13.7%), from €42,456 to €36,636
of which Other amounts receivable: -€6,008
- Profit (loss) carried forward -€31,942
down €31,942 (-17.2%), from €186,230 to €154,288
- Other debts +€19,558
up €19,558 (+19.9%), from €98,272 to €117,830
- Gross operating margin -€95,370
down €95,370, from €79,882 to -€15,488
- Purchases and services +€48,319
new in 2025: €48,319
- Turnover +€20,726
new in 2025: €20,726
- Taxes +€11,308
up €11,308 (+1,860%), from €608 to €11,916
- Depreciation +€891
up €891 (+44.3%), from €2,012 to €2,903
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 | €368,350 | €355,932 | -€12,418 | -3.4% |
| Fixed assets | 21/28 | €5,456 | €6,246 | +€790 | +14.5% |
| Tangible fixed assets | 22/27 | €5,456 | €6,246 | +€790 | +14.5% |
| Land and buildings | 22 | €1,455 | - | -€1,455 | |
| Plant, machinery and equipment | 23 | €1,906 | €1,256 | -€650 | -34.1% |
| Furniture and vehicles | 24 | €2,095 | €4,990 | +€2,895 | +138% |
| Current assets | 29/58 | €362,894 | €349,686 | -€13,208 | -3.6% |
| Stocks and contracts in progress | 3 | €207,826 | €197,826 | -€10,000 | -4.8% |
| Stocks | 30/36 | €207,826 | €197,826 | -€10,000 | -4.8% |
| Amounts receivable within one year | 40/41 | €42,456 | €36,636 | -€5,820 | -13.7% |
| Trade receivables | 40 | €25,268 | €25,456 | +€188 | +0.7% |
| Other amounts receivable | 41 | €17,188 | €11,180 | -€6,008 | -35.0% |
| Cash at bank and in hand | 54/58 | €112,612 | €115,224 | +€2,612 | +2.3% |
| Total equity and liabilities | 10/49 | €368,350 | €355,932 | -€12,418 | -3.4% |
| Equity | 10/15 | €257,026 | €225,084 | -€31,942 | -12.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €9,296 | €9,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,230 | €154,288 | -€31,942 | -17.2% |
| Amounts payable | 17/49 | €111,324 | €130,848 | +€19,524 | +17.5% |
| Amounts payable within one year | 42/48 | €111,324 | €130,848 | +€19,524 | +17.5% |
| Trade debts | 44 | €13,052 | €13,018 | -€34 | -0.3% |
| Suppliers | 440/4 | €13,052 | €13,018 | -€34 | -0.3% |
| Other amounts payable | 47/48 | €98,272 | €117,830 | +€19,558 | +19.9% |
| Turnover | 70 | - | €20,726 | +€20,726 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €48,319 | +€48,319 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,012 | €2,903 | +€891 | +44.3% |
| Other operating charges | 640/8 | €1,246 | €1,194 | -€52 | -4.2% |
| Gross operating margin | 9900 | €79,882 | -€15,488 | -€95,370 | |
| Operating profit (loss) | 9901 | €76,624 | -€19,585 | -€96,209 | |
| Financial charges | 65/66B | €399 | €441 | +€42 | +10.5% |
| Recurring financial charges | 65 | €399 | €441 | +€42 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €76,225 | -€20,026 | -€96,251 | |
| Income taxes | 67/77 | €608 | €11,916 | +€11,308 | +1,860% |
| Profit (loss) for the period | 9904 | €75,617 | -€31,942 | -€107,559 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,617 | -€31,942 | -€107,559 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.