ETS M. CLEMENT: 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.
ETS M. CLEMENT
Largest movements
- Current investments +€161,000
up €161,000 (+766.7%), from €21,000 to €182,000
- Cash -€148,824
down €148,824 (-91.0%), from €163,601 to €14,776
mainly Current investments (-€161,000) and Contributions, distributions and other (-€22,500)
- Receivables within one year +€2,294
up €2,294 (+45.9%), from €5,000 to €7,294
- Reserves +€15,900
up €15,900 (+14.4%), from €110,360 to €126,260
of which Distributable reserves: +€15,900
- Other debts -€5,475
down €5,475 (-6.9%), from €79,047 to €73,572
- Profit (loss) carried forward +€2,630
up €2,630 (+59.0%), from -€4,456 to -€1,826
- Financial income +€42,601
up €42,601 (+972.7%), from €4,380 to €46,981
- Taxes +€1,212
up €1,212 (+92.3%), from €1,314 to €2,526
- Financial charges +€261
up €261 (+580.6%), from €45 to €306
- Gross operating margin +€241
up €241 (+8.1%), from -€2,972 to -€2,731
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 | €202,101 | €216,571 | +€14,470 | +7.2% |
| Fixed assets | 21/28 | €12,500 | €12,500 | = | 0.0% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €189,601 | €204,071 | +€14,470 | +7.6% |
| Amounts receivable within one year | 40/41 | €5,000 | €7,294 | +€2,294 | +45.9% |
| Other amounts receivable | 41 | €5,000 | €7,294 | +€2,294 | +45.9% |
| Current investments | 50/53 | €21,000 | €182,000 | +€161,000 | +766.7% |
| Cash at bank and in hand | 54/58 | €163,601 | €14,776 | -€148,824 | -91.0% |
| Total equity and liabilities | 10/49 | €202,101 | €216,571 | +€14,470 | +7.2% |
| Equity | 10/15 | €118,304 | €136,834 | +€18,530 | +15.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €110,360 | €126,260 | +€15,900 | +14.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €108,500 | €124,400 | +€15,900 | +14.7% |
| Profit (loss) carried forward | 14 | -€4,456 | -€1,826 | +€2,630 | +59.0% |
| Amounts payable | 17/49 | €83,797 | €79,737 | -€4,060 | -4.8% |
| Amounts payable within one year | 42/48 | €83,797 | €79,737 | -€4,060 | -4.8% |
| Trade debts | 44 | €600 | €1,200 | +€600 | +100.0% |
| Suppliers | 440/4 | €600 | €1,200 | +€600 | +100.0% |
| Taxes, remuneration and social security | 45 | €4,150 | €4,965 | +€815 | +19.6% |
| Taxes | 450/3 | €4,150 | €4,965 | +€815 | +19.6% |
| Other amounts payable | 47/48 | €79,047 | €73,572 | -€5,475 | -6.9% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€2,972 | -€2,731 | +€241 | +8.1% |
| Operating profit (loss) | 9901 | -€3,357 | -€3,119 | +€238 | +7.1% |
| Financial income | 75/76B | €4,380 | €46,981 | +€42,601 | +972.7% |
| Recurring financial income | 75 | €4,380 | €46,981 | +€42,601 | +972.7% |
| Financial charges | 65/66B | €45 | €306 | +€261 | +580.6% |
| Recurring financial charges | 65 | €45 | €306 | +€261 | +580.6% |
| Profit (loss) for the period before taxes | 9903 | €978 | €43,556 | +€42,578 | +4353.9% |
| Income taxes | 67/77 | €1,314 | €2,526 | +€1,212 | +92.3% |
| Profit (loss) for the period | 9904 | -€336 | €41,030 | +€41,366 | |
| Profit (loss) for the period to be appropriated | 9905 | -€336 | €41,030 | +€41,366 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.