ETS DV LOCATION: 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 DV LOCATION
Largest movements
- Tangible fixed assets -€8,746
down €8,746 (-3.7%), from €239,148 to €230,402
of which Plant, machinery and equipment: -€4,611
- Debts after one year -€26,242
down €26,242 (-36.8%), from €71,314 to €45,072
- Other debts +€16,240
up €16,240 (+11.7%), from €138,246 to €154,486
- Other operating charges +€7,521
up €7,521 (+229.0%), from €3,284 to €10,804
- Gross operating margin +€4,415
up €4,415 (+23.4%), from €18,892 to €23,307
- Financial charges -€890
down €890 (-21.4%), from €4,151 to €3,261
- Taxes -€743
no longer reported in 2025 (was €743)
- Depreciation -€298
down €298 (-3.0%), from €9,817 to €9,519
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 | €264,682 | €254,056 | -€10,626 | -4.0% |
| Formation expenses | 20 | €16,245 | €15,472 | -€773 | -4.8% |
| Fixed assets | 21/28 | €240,026 | €231,280 | -€8,746 | -3.6% |
| Tangible fixed assets | 22/27 | €239,148 | €230,402 | -€8,746 | -3.7% |
| Land and buildings | 22 | €220,704 | €216,569 | -€4,135 | -1.9% |
| Plant, machinery and equipment | 23 | €18,444 | €13,833 | -€4,611 | -25.0% |
| Financial fixed assets | 28 | €878 | €878 | = | 0.0% |
| Current assets | 29/58 | €8,411 | €7,304 | -€1,107 | -13.2% |
| Amounts receivable within one year | 40/41 | €7,993 | €6,570 | -€1,423 | -17.8% |
| Trade receivables | 40 | €410 | €1,247 | +€837 | +204.1% |
| Other amounts receivable | 41 | €7,583 | €5,323 | -€2,260 | -29.8% |
| Cash at bank and in hand | 54/58 | €241 | €558 | +€316 | +131.1% |
| Deferred charges and accrued income | 490/1 | €177 | €177 | = | 0.0% |
| Total equity and liabilities | 10/49 | €264,682 | €254,056 | -€10,626 | -4.0% |
| Equity | 10/15 | €23,216 | €22,939 | -€278 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €762 | €762 | = | 0.0% |
| Non-distributable reserves | 130/1 | €762 | €762 | = | 0.0% |
| Reserves not available under the articles | 1311 | €762 | €762 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,854 | €3,577 | -€278 | -7.2% |
| Amounts payable | 17/49 | €241,465 | €231,118 | -€10,348 | -4.3% |
| Amounts payable after more than one year | 17 | €71,314 | €45,072 | -€26,242 | -36.8% |
| Financial debts | 170/4 | €71,314 | €45,072 | -€26,242 | -36.8% |
| Amounts payable within one year | 42/48 | €170,152 | €186,046 | +€15,894 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €24,947 | €25,584 | +€637 | +2.6% |
| Trade debts | 44 | €6,216 | €5,527 | -€689 | -11.1% |
| Suppliers | 440/4 | €6,216 | €5,527 | -€689 | -11.1% |
| Taxes, remuneration and social security | 45 | €743 | €448 | -€294 | -39.6% |
| Taxes | 450/3 | €743 | €448 | -€294 | -39.6% |
| Other amounts payable | 47/48 | €138,246 | €154,486 | +€16,240 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,817 | €9,519 | -€298 | -3.0% |
| Other operating charges | 640/8 | €3,284 | €10,804 | +€7,521 | +229.0% |
| Gross operating margin | 9900 | €18,892 | €23,307 | +€4,415 | +23.4% |
| Operating profit (loss) | 9901 | €5,792 | €2,983 | -€2,808 | -48.5% |
| Financial income | 75/76B | €5 | €0 | -€4 | -98.2% |
| Recurring financial income | 75 | €5 | €0 | -€4 | -98.2% |
| Financial charges | 65/66B | €4,151 | €3,261 | -€890 | -21.4% |
| Recurring financial charges | 65 | €4,151 | €3,261 | -€890 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €1,645 | -€278 | -€1,923 | |
| Income taxes | 67/77 | €743 | - | -€743 | |
| Profit (loss) for the period | 9904 | €902 | -€278 | -€1,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €902 | -€278 | -€1,180 |
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 8 October 2026 via checked.be.