ETS RCP: 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 RCP
Largest movements
- Tangible fixed assets +€6,805
up €6,805 (+255.1%), from €2,668 to €9,473
of which Furniture and vehicles: +€7,165
- Cash -€392
down €392 (-10.1%), from €3,891 to €3,499
mainly Investment in fixed assets (net) (-€7,579) and Trade debts (-€2,069)
- Receivables within one year -€223
down €223 (-19.1%), from €1,166 to €943
of which Other amounts receivable: -€841
- Other debts +€7,680
up €7,680 (+65.3%), from €11,766 to €19,446
- Trade debts -€2,069
no longer reported in 2025 (was €2,069)
- Tax, wage and social debts +€1,408
up €1,408 (+675.0%), from €209 to €1,617
- Profit (loss) carried forward -€766
down €766 (-6.2%), from -€12,337 to -€13,103
- Gross operating margin +€663
up €663 (+843.5%), from €79 to €742
- Depreciation -€316
down €316 (-29.0%), from €1,090 to €774
- Taxes +€31
up €31 (+22.9%), from €137 to €168
- Other operating charges +€16
up €16 (+3.1%), from €511 to €526
- Financial charges -€9
down €9 (-18.1%), from €49 to €40
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 | €8,527 | €14,780 | +€6,253 | +73.3% |
| Fixed assets | 21/28 | €2,761 | €9,567 | +€6,805 | +246.4% |
| Tangible fixed assets | 22/27 | €2,668 | €9,473 | +€6,805 | +255.1% |
| Plant, machinery and equipment | 23 | €1,681 | €1,320 | -€360 | -21.4% |
| Furniture and vehicles | 24 | €987 | €8,153 | +€7,165 | +725.8% |
| Financial fixed assets | 28 | €94 | €94 | = | 0.0% |
| Current assets | 29/58 | €5,766 | €5,213 | -€553 | -9.6% |
| Amounts receivable within one year | 40/41 | €1,166 | €943 | -€223 | -19.1% |
| Trade receivables | 40 | €326 | €943 | +€617 | +189.5% |
| Other amounts receivable | 41 | €841 | - | -€841 | |
| Cash at bank and in hand | 54/58 | €3,891 | €3,499 | -€392 | -10.1% |
| Deferred charges and accrued income | 490/1 | €708 | €771 | +€63 | +8.9% |
| Total equity and liabilities | 10/49 | €8,527 | €14,780 | +€6,253 | +73.3% |
| Equity | 10/15 | -€5,517 | -€6,283 | -€766 | -13.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,337 | -€13,103 | -€766 | -6.2% |
| Amounts payable | 17/49 | €14,044 | €21,063 | +€7,019 | +50.0% |
| Amounts payable within one year | 42/48 | €14,044 | €21,063 | +€7,019 | +50.0% |
| Trade debts | 44 | €2,069 | - | -€2,069 | |
| Suppliers | 440/4 | €2,069 | - | -€2,069 | |
| Taxes, remuneration and social security | 45 | €209 | €1,617 | +€1,408 | +675.0% |
| Taxes | 450/3 | €209 | €1,617 | +€1,408 | +675.0% |
| Other amounts payable | 47/48 | €11,766 | €19,446 | +€7,680 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,090 | €774 | -€316 | -29.0% |
| Other operating charges | 640/8 | €511 | €526 | +€16 | +3.1% |
| Gross operating margin | 9900 | €79 | €742 | +€663 | +843.5% |
| Operating profit (loss) | 9901 | -€1,522 | -€558 | +€964 | +63.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €49 | €40 | -€9 | -18.1% |
| Recurring financial charges | 65 | €49 | €40 | -€9 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,572 | -€598 | +€973 | +61.9% |
| Income taxes | 67/77 | €137 | €168 | +€31 | +22.9% |
| Profit (loss) for the period | 9904 | -€1,708 | -€766 | +€942 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,708 | -€766 | +€942 | +55.1% |
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 12 October 2026 via checked.be.