ETS INTERART: what changed
ETS INTERART
Largest movements
- Receivables within one year +€75,555
up €75,555 (+103%), from €73,208 to €148,764
of which Trade receivables: +€63,635
- Receivables after one year -€73,500
down €73,500 (-53.3%), from €137,821 to €64,321
- Tax, wage and social debts +€9,407
up €9,407 (+31.6%), from €29,809 to €39,216
of which Taxes: +€10,074
- Current portion of long-term debt -€7,014
down €7,014 (-39.6%), from €17,696 to €10,682
- Trade debts +€6,242
up €6,242 (+6.3%), from €98,644 to €104,886
- Debts after one year -€2,986
no longer reported in 2025 (was €2,986)
- Profit (loss) carried forward -€2,493
down €2,493 (-4.4%), from €56,052 to €53,558
- Gross operating margin -€29,854
down €29,854 (-29.8%), from €100,013 to €70,159
- Staff costs -€25,488
down €25,488 (-26.8%), from €95,278 to €69,790
- Financial charges -€2,578
down €2,578 (-76.0%), from €3,394 to €816
- Depreciation -€2,040
down €2,040 (-91.4%), from €2,233 to €193
- Other operating charges +€1,410
up €1,410 (+171%), from €823 to €2,233
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,847 | €216,403 | +€2,556 | +1.2% |
| Fixed assets | 21/28 | €498 | €305 | -€193 | -38.7% |
| Tangible fixed assets | 22/27 | €286 | €93 | -€193 | -67.3% |
| Furniture and vehicles | 24 | €286 | €93 | -€193 | -67.3% |
| Financial fixed assets | 28 | €212 | €212 | = | 0.0% |
| Current assets | 29/58 | €213,349 | €216,098 | +€2,748 | +1.3% |
| Amounts receivable after more than one year | 29 | €137,821 | €64,321 | -€73,500 | -53.3% |
| Other amounts receivable | 291 | €137,821 | €64,321 | -€73,500 | -53.3% |
| Amounts receivable within one year | 40/41 | €73,208 | €148,764 | +€75,555 | +103% |
| Trade receivables | 40 | €49,793 | €113,428 | +€63,635 | +128% |
| Other amounts receivable | 41 | €23,416 | €35,336 | +€11,920 | +50.9% |
| Cash at bank and in hand | 54/58 | €2,319 | €3,012 | +€693 | +29.9% |
| Total equity and liabilities | 10/49 | €213,847 | €216,403 | +€2,556 | +1.2% |
| Equity | 10/15 | €64,112 | €61,618 | -€2,493 | -3.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,052 | €53,558 | -€2,493 | -4.4% |
| Amounts payable | 17/49 | €149,735 | €154,784 | +€5,049 | +3.4% |
| Amounts payable after more than one year | 17 | €2,986 | - | -€2,986 | |
| Financial debts | 170/4 | €2,986 | - | -€2,986 | |
| Amounts payable within one year | 42/48 | €146,749 | €154,784 | +€8,035 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €17,696 | €10,682 | -€7,014 | -39.6% |
| Financial debts | 43 | €600 | - | -€600 | |
| Credit institutions | 430/8 | €600 | - | -€600 | |
| Trade debts | 44 | €98,644 | €104,886 | +€6,242 | +6.3% |
| Suppliers | 440/4 | €98,644 | €104,886 | +€6,242 | +6.3% |
| Taxes, remuneration and social security | 45 | €29,809 | €39,216 | +€9,407 | +31.6% |
| Taxes | 450/3 | €19,917 | €29,991 | +€10,074 | +50.6% |
| Remuneration and social security | 454/9 | €9,892 | €9,225 | -€667 | -6.7% |
| Remuneration, social security and pensions | 62 | €95,278 | €69,790 | -€25,488 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,233 | €193 | -€2,040 | -91.4% |
| Other operating charges | 640/8 | €823 | €2,233 | +€1,410 | +171% |
| Gross operating margin | 9900 | €100,013 | €70,159 | -€29,854 | -29.8% |
| Operating profit (loss) | 9901 | €1,680 | -€2,056 | -€3,736 | |
| Financial income | 75/76B | €0 | €378 | +€378 | +378,280% |
| Recurring financial income | 75 | €0 | €378 | +€378 | +378,280% |
| Financial charges | 65/66B | €3,394 | €816 | -€2,578 | -76.0% |
| Recurring financial charges | 65 | €3,394 | €816 | -€2,578 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,714 | -€2,493 | -€779 | -45.5% |
| Profit (loss) for the period | 9904 | -€1,714 | -€2,493 | -€779 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,714 | -€2,493 | -€779 | -45.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.