ETRI: 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.
ETRI
Largest movements
- Receivables within one year -€125,379
down €125,379 (-8.6%), from €1.5m to €1.3m
of which Trade receivables: -€97,964
- Financial fixed assets +€45,000
up €45,000 (+18.3%), from €245,650 to €290,650
- Trade debts -€142,455
down €142,455 (-88.4%), from €161,112 to €18,657
- Tax, wage and social debts +€48,802
up €48,802 (+64.4%), from €75,737 to €124,539
- Debts after one year +€45,000
new in 2024: €45,000
- Reserves -€44,851
down €44,851 (-3.2%), from €1.4m to €1.4m
of which Distributable reserves: -€44,851
- Gross operating margin -€195,707
down €195,707, from €160,460 to -€35,247
- Purchases and services -€91,516
down €91,516 (-76.0%), from €120,408 to €28,892
- Taxes -€60,682
no longer reported in 2024 (was €60,682)
- Financial charges -€19,142
no longer reported in 2024 (was €19,142)
- Other operating charges -€7,648
down €7,648 (-78.0%), from €9,808 to €2,159
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 | €1,717,191 | €1,626,094 | -€91,097 | -5.3% |
| Fixed assets | 21/28 | €246,369 | €291,121 | +€44,752 | +18.2% |
| Tangible fixed assets | 22/27 | €719 | €471 | -€248 | -34.4% |
| Furniture and vehicles | 24 | €719 | €471 | -€248 | -34.4% |
| Financial fixed assets | 28 | €245,650 | €290,650 | +€45,000 | +18.3% |
| Current assets | 29/58 | €1,470,822 | €1,334,973 | -€135,849 | -9.2% |
| Amounts receivable within one year | 40/41 | €1,460,339 | €1,334,959 | -€125,379 | -8.6% |
| Trade receivables | 40 | €1,430,723 | €1,332,759 | -€97,964 | -6.8% |
| Other amounts receivable | 41 | €29,616 | €2,200 | -€27,416 | -92.6% |
| Current investments | 50/53 | €15 | - | -€15 | |
| Cash at bank and in hand | 54/58 | - | €13 | +€13 | |
| Deferred charges and accrued income | 490/1 | €10,468 | - | -€10,468 | |
| Total equity and liabilities | 10/49 | €1,717,191 | €1,626,094 | -€91,097 | -5.3% |
| Equity | 10/15 | €1,471,170 | €1,426,319 | -€44,851 | -3.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,408,670 | €1,363,819 | -€44,851 | -3.2% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €1,402,420 | €1,357,569 | -€44,851 | -3.2% |
| Amounts payable | 17/49 | €246,020 | €199,775 | -€46,245 | -18.8% |
| Amounts payable after more than one year | 17 | - | €45,000 | +€45,000 | |
| Other amounts payable | 178/9 | - | €45,000 | +€45,000 | |
| Amounts payable within one year | 42/48 | €245,970 | €154,757 | -€91,213 | -37.1% |
| Financial debts | 43 | €1,239 | €341 | -€898 | -72.5% |
| Credit institutions | 430/8 | €1,239 | €341 | -€898 | -72.5% |
| Trade debts | 44 | €161,112 | €18,657 | -€142,455 | -88.4% |
| Suppliers | 440/4 | €161,112 | €18,657 | -€142,455 | -88.4% |
| Taxes, remuneration and social security | 45 | €75,737 | €124,539 | +€48,802 | +64.4% |
| Taxes | 450/3 | €75,737 | €124,539 | +€48,802 | +64.4% |
| Other amounts payable | 47/48 | €7,882 | €11,221 | +€3,339 | +42.4% |
| Accrued charges and deferred income | 492/3 | €50 | €18 | -€33 | -64.5% |
| Non-recurring operating income | 76A | €55,567 | - | -€55,567 | |
| Goods, raw materials, services and sundry goods | 60/61 | €120,408 | €28,892 | -€91,516 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,358 | €248 | -€6,110 | -96.1% |
| Other operating charges | 640/8 | €9,808 | €2,159 | -€7,648 | -78.0% |
| Non-recurring operating charges | 66A | - | €7,200 | +€7,200 | |
| Gross operating margin | 9900 | €160,460 | -€35,247 | -€195,707 | |
| Operating profit (loss) | 9901 | €144,294 | -€44,854 | -€189,148 | |
| Financial income | 75/76B | €2,567 | €3 | -€2,565 | -99.9% |
| Recurring financial income | 75 | €2,567 | €3 | -€2,565 | -99.9% |
| Financial charges | 65/66B | €19,142 | - | -€19,142 | |
| Recurring financial charges | 65 | €19,142 | - | -€19,142 | |
| Profit (loss) for the period before taxes | 9903 | €127,720 | -€44,851 | -€172,571 | |
| Income taxes | 67/77 | €60,682 | - | -€60,682 | |
| Profit (loss) for the period | 9904 | €67,038 | -€44,851 | -€111,889 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,038 | -€44,851 | -€111,889 |
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 8 October 2026 via checked.be.