ETREAC CONSULTING: 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.
What changed
ETREAC CONSULTING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€165,595
2024 · €241,231-€75,636
Equity
€1.6m
2024 · €1.5m+€98,595
Cash
€596,060
2024 · €445,462+€150,599
Balance sheet total
€2.4m
2024 · €2.2m+€229,066
Largest movements
Assets
- Receivables within one year +€152,424
up €152,424 (+13.4%), from €1.1m to €1.3m
of which Other amounts receivable: +€83,124
- Cash +€150,599
up €150,599 (+33.8%), from €445,462 to €596,060
mainly Net result for the year (+€165,595) and Tax, wage and social debts (+€87,203)
- Financial fixed assets -€90,000
down €90,000 (-85.4%), from €105,434 to €15,434
Equity and liabilities
- Profit (loss) carried forward +€100,354
up €100,354 (+7.4%), from €1.4m to €1.5m
- Tax, wage and social debts +€87,203
up €87,203 (+26.8%), from €325,880 to €413,083
of which Taxes: +€46,836
- Debts after one year -€39,078
down €39,078 (-33.3%), from €117,202 to €78,125
- Trade debts +€36,954
up €36,954 (+45.4%), from €81,449 to €118,403
- Other debts +€30,349
up €30,349 (+81.2%), from €37,364 to €67,713
Income statement
- Staff costs +€193,651
up €193,651 (+6.9%), from €2.8m to €3.0m
- Gross operating margin +€99,394
up €99,394 (+3.1%), from €3.2m to €3.3m
- Financial income +€47,381
up €47,381 (+1,215%), from €3,899 to €51,279
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.
Result 2024
€241,231
Gross operating margin
+€99,394
Staff costs
-€193,651
Depreciation
-€4,865
Other operating charges
+€2,689
Other operating items
-€50,000
Financial income
+€47,381
Financial charges
+€3,300
Taxes
+€20,116
Result 2025
€165,595
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€186,897
Investment
+€63,501
Financing
-€99,800
Cash 2024
€445,462
From operations (derived)
+€186,897
Net result for the year
+€165,595
Depreciation
+€24,116
Receivables within one year
-€152,424
Deferred charges and accrued income
-€13,660
Provisions
-€718
Trade debts
+€36,954
Tax, wage and social debts
+€87,203
Other debts
+€30,349
Accrued charges and deferred income
+€9,483
Investment (derived)
+€63,501
Investment in fixed assets (net)
+€63,796
Current investments
-€295
Financing
-€99,800
Debts after one year
-€39,078
Current portion of long-term debt
+€387
Short-term financial debts
+€5,891
Contributions, distributions and other
-€67,000
Cash 2025
€596,060
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,187,537 | €2,416,602 | +€229,066 | +10.5% |
| Fixed assets | 21/28 | €459,100 | €371,188 | -€87,912 | -19.1% |
| Tangible fixed assets | 22/27 | €353,666 | €355,754 | +€2,088 | +0.6% |
| Land and buildings | 22 | €347,883 | €338,111 | -€9,772 | -2.8% |
| Furniture and vehicles | 24 | €5,784 | €17,643 | +€11,859 | +205% |
| Financial fixed assets | 28 | €105,434 | €15,434 | -€90,000 | -85.4% |
| Current assets | 29/58 | €1,728,436 | €2,045,414 | +€316,978 | +18.3% |
| Amounts receivable within one year | 40/41 | €1,134,751 | €1,287,175 | +€152,424 | +13.4% |
| Trade receivables | 40 | €962,712 | €1,032,012 | +€69,300 | +7.2% |
| Other amounts receivable | 41 | €172,039 | €255,163 | +€83,124 | +48.3% |
| Current investments | 50/53 | €145,091 | €145,386 | +€295 | +0.2% |
| Cash at bank and in hand | 54/58 | €445,462 | €596,060 | +€150,599 | +33.8% |
| Deferred charges and accrued income | 490/1 | €3,133 | €16,793 | +€13,660 | +436% |
| Total equity and liabilities | 10/49 | €2,187,537 | €2,416,602 | +€229,066 | +10.5% |
| Equity | 10/15 | €1,472,328 | €1,570,923 | +€98,595 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,171 | €98,412 | -€1,759 | -1.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,511 | €38,752 | -€1,759 | -4.3% |
| Distributable reserves | 133 | €57,800 | €57,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,353,557 | €1,453,910 | +€100,354 | +7.4% |
| Provisions and deferred taxes | 16 | €16,547 | €15,828 | -€718 | -4.3% |
| Deferred taxes | 168 | €16,547 | €15,828 | -€718 | -4.3% |
| Amounts payable | 17/49 | €698,662 | €829,851 | +€131,190 | +18.8% |
| Amounts payable after more than one year | 17 | €117,202 | €78,125 | -€39,078 | -33.3% |
| Financial debts | 170/4 | €117,202 | €78,125 | -€39,078 | -33.3% |
| Amounts payable within one year | 42/48 | €483,383 | €644,168 | +€160,784 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €38,691 | €39,078 | +€387 | +1.0% |
| Financial debts | 43 | - | €5,891 | +€5,891 | |
| Credit institutions | 430/8 | - | €5,891 | +€5,891 | |
| Trade debts | 44 | €81,449 | €118,403 | +€36,954 | +45.4% |
| Suppliers | 440/4 | €81,449 | €118,403 | +€36,954 | +45.4% |
| Taxes, remuneration and social security | 45 | €325,880 | €413,083 | +€87,203 | +26.8% |
| Taxes | 450/3 | €47,736 | €94,572 | +€46,836 | +98.1% |
| Remuneration and social security | 454/9 | €278,143 | €318,510 | +€40,367 | +14.5% |
| Other amounts payable | 47/48 | €37,364 | €67,713 | +€30,349 | +81.2% |
| Accrued charges and deferred income | 492/3 | €98,076 | €107,559 | +€9,483 | +9.7% |
| Remuneration, social security and pensions | 62 | €2,787,777 | €2,981,428 | +€193,651 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,251 | €24,116 | +€4,865 | +25.3% |
| Other operating charges | 640/8 | €6,708 | €4,019 | -€2,689 | -40.1% |
| Non-recurring operating charges | 66A | - | €50,000 | +€50,000 | |
| Gross operating margin | 9900 | €3,169,996 | €3,269,390 | +€99,394 | +3.1% |
| Operating profit (loss) | 9901 | €356,261 | €209,827 | -€146,433 | -41.1% |
| Financial income | 75/76B | €3,899 | €51,279 | +€47,381 | +1,215% |
| Recurring financial income | 75 | €3,899 | €51,279 | +€47,381 | +1,215% |
| Financial charges | 65/66B | €11,008 | €7,707 | -€3,300 | -30.0% |
| Recurring financial charges | 65 | €11,008 | €7,707 | -€3,300 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €349,152 | €253,400 | -€95,752 | -27.4% |
| Transfer from deferred taxes | 780 | €718 | €718 | = | 0.0% |
| Income taxes | 67/77 | €108,640 | €88,523 | -€20,116 | -18.5% |
| Profit (loss) for the period | 9904 | €241,231 | €165,595 | -€75,636 | -31.4% |
| Transfer from tax-exempt reserves | 789 | €1,759 | €1,759 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €242,990 | €167,354 | -€75,636 | -31.1% |
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 29 October 2026 via checked.be.