ETS BW: 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 BW
Largest movements
- Cash -€759
down €759 (-66.7%), from €1,138 to €380
mainly Net result for the year (-€2,800) and Receivables within one year (-€457)
- Receivables within one year +€457
up €457 (+63.3%), from €722 to €1,180
- Formation expenses -€223
down €223 (-25.0%), from €894 to €670
- Profit (loss) carried forward -€2,800
down €2,800 (-67.5%), from -€4,150 to -€6,950
- Trade debts +€2,275
up €2,275 (+98.4%), from €2,313 to €4,589
- Purchases and services +€2,516
new in 2025: €2,516
- Gross operating margin +€1,285
up €1,285 (+33.8%), from -€3,801 to -€2,516
- Other operating charges -€100
no longer reported in 2025 (was €100)
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 | €2,754 | €2,230 | -€525 | -19.1% |
| Formation expenses | 20 | €894 | €670 | -€223 | -25.0% |
| Current assets | 29/58 | €1,861 | €1,559 | -€301 | -16.2% |
| Amounts receivable within one year | 40/41 | €722 | €1,180 | +€457 | +63.3% |
| Other amounts receivable | 41 | €722 | €1,180 | +€457 | +63.3% |
| Cash at bank and in hand | 54/58 | €1,138 | €380 | -€759 | -66.7% |
| Total equity and liabilities | 10/49 | €2,754 | €2,230 | -€525 | -19.1% |
| Equity | 10/15 | -€1,150 | -€3,950 | -€2,800 | -243.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | €3,000 | = | 0.0% |
| Issued capital | 100 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,150 | -€6,950 | -€2,800 | -67.5% |
| Amounts payable | 17/49 | €3,904 | €6,180 | +€2,275 | +58.3% |
| Amounts payable within one year | 42/48 | €3,904 | €6,180 | +€2,275 | +58.3% |
| Trade debts | 44 | €2,313 | €4,589 | +€2,275 | +98.4% |
| Suppliers | 440/4 | €2,313 | €4,589 | +€2,275 | +98.4% |
| Other amounts payable | 47/48 | €1,591 | €1,591 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €2,516 | +€2,516 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223 | €223 | = | 0.0% |
| Other operating charges | 640/8 | €100 | - | -€100 | |
| Gross operating margin | 9900 | -€3,801 | -€2,516 | +€1,285 | +33.8% |
| Operating profit (loss) | 9901 | -€4,124 | -€2,739 | +€1,385 | +33.6% |
| Financial charges | 65/66B | €26 | €61 | +€35 | +135.2% |
| Recurring financial charges | 65 | €26 | €61 | +€35 | +135.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,150 | -€2,800 | +€1,350 | +32.5% |
| Profit (loss) for the period | 9904 | -€4,150 | -€2,800 | +€1,350 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,150 | -€2,800 | +€1,350 | +32.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.