ETS BARETTE: 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.
ETS BARETTE
Largest movements
- Tangible fixed assets +€182,629
up €182,629 (+10.9%), from €1.7m to €1.9m
of which Land and buildings: +€271,644
- Receivables within one year +€39,439
up €39,439 (+14.9%), from €265,276 to €304,715
of which Other amounts receivable: +€46,970
- Debts after one year +€110,898
up €110,898 (+18.8%), from €591,365 to €702,262
- Accrued charges and deferred income +€50,459
up €50,459 (+7643.5%), from €660 to €51,119
- Other debts +€45,477
up €45,477 (+6.4%), from €710,939 to €756,416
- Current portion of long-term debt -€41,018
down €41,018 (-19.7%), from €208,527 to €167,509
- Trade debts +€34,560
up €34,560 (+41.4%), from €83,494 to €118,055
- Gross operating margin -€149,950
down €149,950 (-17.2%), from €873,717 to €723,767
- Staff costs -€42,804
down €42,804 (-8.6%), from €499,244 to €456,439
- Taxes -€32,384
down €32,384 (-98.6%), from €32,849 to €465
- Depreciation +€11,856
up €11,856 (+6.8%), from €174,484 to €186,341
- Other operating charges -€9,827
down €9,827 (-40.0%), from €24,576 to €14,749
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 | €2,635,637 | €2,836,175 | +€200,538 | +7.6% |
| Fixed assets | 21/28 | €2,235,076 | €2,417,705 | +€182,629 | +8.2% |
| Tangible fixed assets | 22/27 | €1,670,321 | €1,852,950 | +€182,629 | +10.9% |
| Land and buildings | 22 | €1,409,599 | €1,681,243 | +€271,644 | +19.3% |
| Plant, machinery and equipment | 23 | €30,961 | €32,113 | +€1,152 | +3.7% |
| Furniture and vehicles | 24 | €220,157 | €134,677 | -€85,480 | -38.8% |
| Other tangible fixed assets | 26 | €9,605 | €4,917 | -€4,687 | -48.8% |
| Financial fixed assets | 28 | €564,755 | €564,755 | = | 0.0% |
| Current assets | 29/58 | €400,561 | €418,470 | +€17,909 | +4.5% |
| Stocks and contracts in progress | 3 | €28,658 | €30,063 | +€1,405 | +4.9% |
| Stocks | 30/36 | €28,658 | €30,063 | +€1,405 | +4.9% |
| Amounts receivable within one year | 40/41 | €265,276 | €304,715 | +€39,439 | +14.9% |
| Trade receivables | 40 | €229,343 | €221,811 | -€7,532 | -3.3% |
| Other amounts receivable | 41 | €35,933 | €82,904 | +€46,970 | +130.7% |
| Cash at bank and in hand | 54/58 | €88,251 | €67,073 | -€21,178 | -24.0% |
| Deferred charges and accrued income | 490/1 | €18,376 | €16,619 | -€1,757 | -9.6% |
| Total equity and liabilities | 10/49 | €2,635,637 | €2,836,175 | +€200,538 | +7.6% |
| Equity | 10/15 | €1,004,298 | €1,005,140 | +€843 | +0.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €983,881 | €983,881 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €981,881 | €983,881 | +€2,000 | +0.2% |
| Profit (loss) carried forward | 14 | €417 | €1,259 | +€843 | +202.1% |
| Amounts payable | 17/49 | €1,631,339 | €1,831,035 | +€199,696 | +12.2% |
| Amounts payable after more than one year | 17 | €591,365 | €702,262 | +€110,898 | +18.8% |
| Financial debts | 170/4 | €591,365 | €702,262 | +€110,898 | +18.8% |
| Amounts payable within one year | 42/48 | €1,039,315 | €1,077,653 | +€38,339 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €208,527 | €167,509 | -€41,018 | -19.7% |
| Financial debts | 43 | - | €7,584 | +€7,584 | |
| Credit institutions | 430/8 | - | €7,584 | +€7,584 | |
| Trade debts | 44 | €83,494 | €118,055 | +€34,560 | +41.4% |
| Suppliers | 440/4 | €83,494 | €118,055 | +€34,560 | +41.4% |
| Taxes, remuneration and social security | 45 | €36,354 | €28,090 | -€8,264 | -22.7% |
| Taxes | 450/3 | €23,405 | €13,936 | -€9,468 | -40.5% |
| Remuneration and social security | 454/9 | €12,950 | €14,153 | +€1,204 | +9.3% |
| Other amounts payable | 47/48 | €710,939 | €756,416 | +€45,477 | +6.4% |
| Accrued charges and deferred income | 492/3 | €660 | €51,119 | +€50,459 | +7643.5% |
| Non-recurring operating income | 76A | €48,000 | - | -€48,000 | |
| Remuneration, social security and pensions | 62 | €499,244 | €456,439 | -€42,804 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,484 | €186,341 | +€11,856 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,241 | +€2,241 | |
| Other operating charges | 640/8 | €24,576 | €14,749 | -€9,827 | -40.0% |
| Gross operating margin | 9900 | €873,717 | €723,767 | -€149,950 | -17.2% |
| Operating profit (loss) | 9901 | €175,413 | €63,997 | -€111,416 | -63.5% |
| Financial income | 75/76B | €15,323 | €6,307 | -€9,016 | -58.8% |
| Recurring financial income | 75 | €15,323 | €6,307 | -€9,016 | -58.8% |
| Financial charges | 65/66B | €65,990 | €68,996 | +€3,006 | +4.6% |
| Recurring financial charges | 65 | €65,990 | €68,996 | +€3,006 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €124,746 | €1,308 | -€123,439 | -99.0% |
| Income taxes | 67/77 | €32,849 | €465 | -€32,384 | -98.6% |
| Profit (loss) for the period | 9904 | €91,897 | €843 | -€91,055 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €91,897 | €843 | -€91,055 | -99.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.