ETRD: what changed
Two fiscal 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.
ETRD
Largest movements
- Cash +€135,257
up €135,257 (+93.4%), from €144,769 to €280,026
mainly Net result for the year (+€251,971) and Receivables within one year (+€28,728)
- Receivables within one year -€28,728
down €28,728 (-65.5%), from €43,852 to €15,124
- Tangible fixed assets -€8,178
down €8,178 (-75.8%), from €10,788 to €2,611
- Profit (loss) carried forward +€86,815
up €86,815 (+52.6%), from €165,156 to €251,971
- Trade debts +€14,192
up €14,192 (+553.6%), from €2,564 to €16,756
- Gross operating margin +€118,568
up €118,568 (+52.7%), from €224,912 to €343,480
- Taxes +€29,946
up €29,946 (+58.8%), from €50,962 to €80,908
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €199,950 | €298,921 | +€98,971 | +49.5% |
| Fixed assets | 21/28 | €10,788 | €2,611 | -€8,178 | -75.8% |
| Tangible fixed assets | 22/27 | €10,788 | €2,611 | -€8,178 | -75.8% |
| Furniture and vehicles | 24 | €10,788 | €2,611 | -€8,178 | -75.8% |
| Current assets | 29/58 | €189,161 | €296,310 | +€107,148 | +56.6% |
| Amounts receivable within one year | 40/41 | €43,852 | €15,124 | -€28,728 | -65.5% |
| Other amounts receivable | 41 | €43,852 | €15,124 | -€28,728 | -65.5% |
| Cash at bank and in hand | 54/58 | €144,769 | €280,026 | +€135,257 | +93.4% |
| Deferred charges and accrued income | 490/1 | €540 | €1,160 | +€620 | +114.7% |
| Total equity and liabilities | 10/49 | €199,950 | €298,921 | +€98,971 | +49.5% |
| Equity | 10/15 | €185,561 | €272,376 | +€86,815 | +46.8% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,156 | €251,971 | +€86,815 | +52.6% |
| Amounts payable | 17/49 | €14,388 | €26,545 | +€12,156 | +84.5% |
| Amounts payable within one year | 42/48 | €14,388 | €26,545 | +€12,156 | +84.5% |
| Trade debts | 44 | €2,564 | €16,756 | +€14,192 | +553.6% |
| Suppliers | 440/4 | €2,564 | €16,756 | +€14,192 | +553.6% |
| Taxes, remuneration and social security | 45 | €5,000 | €5,908 | +€908 | +18.2% |
| Taxes | 450/3 | €5,000 | €5,908 | +€908 | +18.2% |
| Other amounts payable | 47/48 | €6,825 | €3,881 | -€2,944 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,515 | €9,725 | +€210 | +2.2% |
| Other operating charges | 640/8 | €833 | €903 | +€70 | +8.4% |
| Gross operating margin | 9900 | €224,912 | €343,480 | +€118,568 | +52.7% |
| Operating profit (loss) | 9901 | €214,564 | €332,852 | +€118,288 | +55.1% |
| Financial income | 75/76B | €1,686 | €170 | -€1,516 | -89.9% |
| Recurring financial income | 75 | €1,686 | €170 | -€1,516 | -89.9% |
| Financial charges | 65/66B | €132 | €144 | +€12 | +8.8% |
| Recurring financial charges | 65 | €132 | €144 | +€12 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €216,119 | €332,879 | +€116,760 | +54.0% |
| Income taxes | 67/77 | €50,962 | €80,908 | +€29,946 | +58.8% |
| Profit (loss) for the period | 9904 | €165,156 | €251,971 | +€86,815 | +52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €165,156 | €251,971 | +€86,815 | +52.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.