ETS Cheron: 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 Cheron
Largest movements
- Receivables within one year -€4,545
down €4,545 (-56.8%), from €8,000 to €3,455
- Cash -€3,075
down €3,075 (-66.6%), from €4,614 to €1,540
mainly Trade debts (-€4,095) and Other debts (-€3,807)
- Trade debts -€4,095
down €4,095 (-68.9%), from €5,946 to €1,850
- Other debts -€3,807
down €3,807 (-31.6%), from €12,063 to €8,255
- Profit (loss) carried forward +€1,505
up €1,505, from -€1,299 to €206
- Tax, wage and social debts -€1,306
down €1,306 (-40.7%), from €3,208 to €1,902
- Gross operating margin +€2,498
up €2,498 (+86.2%), from €2,898 to €5,396
- Other operating charges +€1,923
up €1,923 (+319.0%), from €603 to €2,526
- Financial income +€704
up €704 (+2228.4%), from €32 to €735
- Taxes +€317
new in 2025: €317
- Depreciation +€203
up €203 (+16.3%), from €1,246 to €1,449
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 | €28,783 | €21,079 | -€7,704 | -26.8% |
| Fixed assets | 21/28 | €14,433 | €14,484 | +€51 | +0.4% |
| Tangible fixed assets | 22/27 | €9,653 | €9,704 | +€51 | +0.5% |
| Plant, machinery and equipment | 23 | €4,535 | €5,148 | +€613 | +13.5% |
| Other tangible fixed assets | 26 | €5,119 | €4,556 | -€562 | -11.0% |
| Financial fixed assets | 28 | €4,780 | €4,780 | = | 0.0% |
| Current assets | 29/58 | €14,350 | €6,595 | -€7,755 | -54.0% |
| Amounts receivable within one year | 40/41 | €8,000 | €3,455 | -€4,545 | -56.8% |
| Trade receivables | 40 | €8,000 | €3,455 | -€4,545 | -56.8% |
| Cash at bank and in hand | 54/58 | €4,614 | €1,540 | -€3,075 | -66.6% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,600 | -€136 | -7.8% |
| Total equity and liabilities | 10/49 | €28,783 | €21,079 | -€7,704 | -26.8% |
| Equity | 10/15 | €7,501 | €9,006 | +€1,505 | +20.1% |
| Contributions | 10/11 | €8,800 | €8,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,299 | €206 | +€1,505 | |
| Amounts payable | 17/49 | €21,282 | €12,073 | -€9,209 | -43.3% |
| Amounts payable within one year | 42/48 | €21,216 | €12,008 | -€9,209 | -43.4% |
| Trade debts | 44 | €5,946 | €1,850 | -€4,095 | -68.9% |
| Suppliers | 440/4 | €5,946 | €1,850 | -€4,095 | -68.9% |
| Taxes, remuneration and social security | 45 | €3,208 | €1,902 | -€1,306 | -40.7% |
| Taxes | 450/3 | €3,208 | €1,902 | -€1,306 | -40.7% |
| Other amounts payable | 47/48 | €12,063 | €8,255 | -€3,807 | -31.6% |
| Accrued charges and deferred income | 492/3 | €66 | €66 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,246 | €1,449 | +€203 | +16.3% |
| Other operating charges | 640/8 | €603 | €2,526 | +€1,923 | +319.0% |
| Gross operating margin | 9900 | €2,898 | €5,396 | +€2,498 | +86.2% |
| Operating profit (loss) | 9901 | €1,048 | €1,420 | +€372 | +35.5% |
| Financial income | 75/76B | €32 | €735 | +€704 | +2228.4% |
| Recurring financial income | 75 | €32 | €735 | +€704 | +2228.4% |
| Financial charges | 65/66B | €304 | €333 | +€30 | +9.8% |
| Recurring financial charges | 65 | €304 | €333 | +€30 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €776 | €1,822 | +€1,046 | +134.8% |
| Income taxes | 67/77 | - | €317 | +€317 | |
| Profit (loss) for the period | 9904 | €776 | €1,505 | +€729 | +93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €776 | €1,505 | +€729 | +93.9% |
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 3 October 2026 via checked.be.