ETS. DOMBRECHT: 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
ETS. DOMBRECHT
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€217,254
2024 · €31,441+€185,812
Equity
€877,662
2024 · €660,409+€217,254
Cash
€17,427
2024 · €29,385-€11,957
Balance sheet total
€1.2m
2024 · €845,683+€379,428
Largest movements
Assets
- Tangible fixed assets +€390,844
up €390,844 (+48.1%), from €813,285 to €1.2m
Equity and liabilities
- Reserves +€254,455
up €254,455 (+45.3%), from €561,707 to €816,162
of which Distributable reserves: +€153,467
- Debts after one year +€140,196
new in 2025: €140,196
- Profit (loss) carried forward -€37,201
down €37,201 (-100%), from €37,201 to €0
- Tax, wage and social debts +€36,681
up €36,681 (+400%), from €9,167 to €45,849
- Other debts -€35,453
down €35,453 (-31.6%), from €112,268 to €76,814
Income statement
- Gross operating margin +€266,667
up €266,667 (+302%), from €88,234 to €354,901
- Taxes +€35,363
up €35,363 (+544%), from €6,500 to €41,863
- Depreciation +€27,649
up €27,649 (+74.4%), from €37,173 to €64,823
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
€31,441
Gross operating margin
+€266,667
Depreciation
-€27,649
Other operating charges
-€202
Financial charges
+€160
Taxes
-€35,363
Deferred taxes and other
-€17,801
Result 2025
€217,254
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
+€295,856
Investment
-€455,666
Financing
+€147,853
Cash 2024
€29,385
From operations (derived)
+€295,856
Net result for the year
+€217,254
Depreciation
+€64,823
Deferred charges and accrued income
-€542
Provisions
+€14,835
Trade debts
-€1,741
Tax, wage and social debts
+€36,681
Other debts
-€35,453
Investment (derived)
-€455,666
Investment in fixed assets (net)
-€455,666
Financing
+€147,853
Debts after one year
+€140,196
Current portion of long-term debt
+€7,657
Cash 2025
€17,427
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €845,683 | €1,225,111 | +€379,428 | +44.9% |
| Fixed assets | 21/28 | €813,297 | €1,204,141 | +€390,844 | +48.1% |
| Tangible fixed assets | 22/27 | €813,285 | €1,204,128 | +€390,844 | +48.1% |
| Land and buildings | 22 | €813,285 | €1,204,128 | +€390,844 | +48.1% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €32,386 | €20,970 | -€11,415 | -35.2% |
| Current investments | 50/53 | €3,001 | €3,001 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,385 | €17,427 | -€11,957 | -40.7% |
| Deferred charges and accrued income | 490/1 | €0 | €542 | +€542 | |
| Total equity and liabilities | 10/49 | €845,683 | €1,225,111 | +€379,428 | +44.9% |
| Equity | 10/15 | €660,409 | €877,662 | +€217,254 | +32.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | - | €61,500 | +€61,500 | |
| Issued capital | 100 | - | €61,500 | +€61,500 | |
| Contributions outside capital | 11 | €61,500 | - | -€61,500 | |
| Other | 1109/19 | €61,500 | - | -€61,500 | |
| Reserves | 13 | €561,707 | €816,162 | +€254,455 | +45.3% |
| Non-distributable reserves | 130/1 | €88,650 | €88,650 | = | 0.0% |
| Legal reserve | 130 | €88,650 | €88,650 | = | 0.0% |
| Tax-exempt reserves | 132 | €103,681 | €204,669 | +€100,988 | +97.4% |
| Distributable reserves | 133 | €369,377 | €522,843 | +€153,467 | +41.5% |
| Profit (loss) carried forward | 14 | €37,201 | €0 | -€37,201 | -100% |
| Provisions and deferred taxes | 16 | €53,388 | €68,223 | +€14,835 | +27.8% |
| Deferred taxes | 168 | €53,388 | €68,223 | +€14,835 | +27.8% |
| Amounts payable | 17/49 | €131,887 | €279,226 | +€147,339 | +112% |
| Amounts payable after more than one year | 17 | - | €140,196 | +€140,196 | |
| Financial debts | 170/4 | - | €140,196 | +€140,196 | |
| Amounts payable within one year | 42/48 | €131,887 | €139,030 | +€7,144 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,657 | +€7,657 | |
| Trade debts | 44 | €1,861 | €120 | -€1,741 | -93.6% |
| Suppliers | 440/4 | €1,861 | €120 | -€1,741 | -93.6% |
| Advances received on contracts in progress | 46 | €8,591 | €8,591 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,167 | €45,849 | +€36,681 | +400% |
| Taxes | 450/3 | €9,167 | €45,849 | +€36,681 | +400% |
| Other amounts payable | 47/48 | €112,268 | €76,814 | -€35,453 | -31.6% |
| Non-recurring operating income | 76A | - | €288,604 | +€288,604 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,173 | €64,823 | +€27,649 | +74.4% |
| Other operating charges | 640/8 | €6,622 | €6,824 | +€202 | +3.0% |
| Gross operating margin | 9900 | €88,234 | €354,901 | +€266,667 | +302% |
| Operating profit (loss) | 9901 | €44,438 | €283,254 | +€238,816 | +537% |
| Financial charges | 65/66B | €9,463 | €9,303 | -€160 | -1.7% |
| Recurring financial charges | 65 | €9,463 | €9,303 | -€160 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €34,975 | €273,952 | +€238,976 | +683% |
| Transfer from deferred taxes | 780 | €2,966 | €57,316 | +€54,350 | +1,832% |
| Transfer to deferred taxes | 680 | - | €72,151 | +€72,151 | |
| Income taxes | 67/77 | €6,500 | €41,863 | +€35,363 | +544% |
| Profit (loss) for the period | 9904 | €31,441 | €217,254 | +€185,812 | +591% |
| Transfer from tax-exempt reserves | 789 | €5,760 | €115,465 | +€109,705 | +1,905% |
| Transfer to tax-exempt reserves | 689 | - | €216,453 | +€216,453 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,201 | €116,265 | +€79,064 | +213% |
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 15 October 2026 via checked.be.