ETS HRC: 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 HRC
Largest movements
- Stocks and contracts +€20,000
new in 2024: €20,000
- Cash +€8,291
up €8,291 (+13.5%), from €61,586 to €69,877
mainly Other debts (+€32,435) and Trade debts (+€7,801)
- Receivables within one year +€5,303
up €5,303 (+147.1%), from €3,606 to €8,909
of which Trade receivables: +€6,805
- Tangible fixed assets -€2,497
down €2,497 (-32.2%), from €7,752 to €5,255
of which Furniture and vehicles: -€3,966
- Other debts +€32,435
up €32,435 (+200.2%), from €16,204 to €48,638
- Tax, wage and social debts -€9,550
down €9,550 (-67.0%), from €14,250 to €4,700
of which Taxes: -€9,550
- Trade debts +€7,801
up €7,801 (+429.2%), from €1,818 to €9,619
- Gross operating margin -€47,594
down €47,594 (-83.6%), from €56,941 to €9,347
- Taxes -€9,490
down €9,490 (-66.6%), from €14,250 to €4,760
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,390 | €104,041 | +€30,650 | +41.8% |
| Fixed assets | 21/28 | €7,752 | €5,255 | -€2,497 | -32.2% |
| Tangible fixed assets | 22/27 | €7,752 | €5,255 | -€2,497 | -32.2% |
| Plant, machinery and equipment | 23 | - | €1,470 | +€1,470 | |
| Furniture and vehicles | 24 | €7,752 | €3,786 | -€3,966 | -51.2% |
| Current assets | 29/58 | €65,638 | €98,785 | +€33,147 | +50.5% |
| Stocks and contracts in progress | 3 | - | €20,000 | +€20,000 | |
| Stocks | 30/36 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €3,606 | €8,909 | +€5,303 | +147.1% |
| Trade receivables | 40 | €765 | €7,570 | +€6,805 | +889.3% |
| Other amounts receivable | 41 | €2,840 | €1,339 | -€1,502 | -52.9% |
| Cash at bank and in hand | 54/58 | €61,586 | €69,877 | +€8,291 | +13.5% |
| Deferred charges and accrued income | 490/1 | €447 | €0 | -€447 | -100.0% |
| Total equity and liabilities | 10/49 | €73,390 | €104,041 | +€30,650 | +41.8% |
| Equity | 10/15 | €41,119 | €40,528 | -€590 | -1.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €619 | €28 | -€590 | -95.4% |
| Amounts payable | 17/49 | €32,271 | €63,512 | +€31,241 | +96.8% |
| Amounts payable within one year | 42/48 | €32,271 | €62,957 | +€30,685 | +95.1% |
| Trade debts | 44 | €1,818 | €9,619 | +€7,801 | +429.2% |
| Suppliers | 440/4 | €1,818 | €9,619 | +€7,801 | +429.2% |
| Taxes, remuneration and social security | 45 | €14,250 | €4,700 | -€9,550 | -67.0% |
| Taxes | 450/3 | €14,250 | €4,700 | -€9,550 | -67.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €16,204 | €48,638 | +€32,435 | +200.2% |
| Accrued charges and deferred income | 492/3 | - | €555 | +€555 | |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,148 | €4,233 | +€85 | +2.0% |
| Other operating charges | 640/8 | €392 | €483 | +€91 | +23.2% |
| Gross operating margin | 9900 | €56,941 | €9,347 | -€47,594 | -83.6% |
| Operating profit (loss) | 9901 | €52,400 | €4,630 | -€47,770 | -91.2% |
| Financial income | 75/76B | €0 | €5 | +€5 | +17400.0% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +17400.0% |
| Financial charges | 65/66B | €31 | €466 | +€434 | +1379.9% |
| Recurring financial charges | 65 | €31 | €466 | +€434 | +1379.9% |
| Profit (loss) for the period before taxes | 9903 | €52,369 | €4,170 | -€48,199 | -92.0% |
| Income taxes | 67/77 | €14,250 | €4,760 | -€9,490 | -66.6% |
| Profit (loss) for the period | 9904 | €38,119 | -€590 | -€38,709 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,119 | -€590 | -€38,709 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.