ETS THIERRY: 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 THIERRY
Largest movements
- Receivables within one year +€18,308
up €18,308 (+89.9%), from €20,373 to €38,681
of which Trade receivables: +€18,689
- Stocks and contracts -€2,376
down €2,376 (-23.1%), from €10,295 to €7,919
- Tangible fixed assets -€2,094
no longer reported in 2025 (was €2,094)
- Cash +€1,002
new in 2025: €1,002
mainly Net result for the year (+€30,533) and Stocks and contracts (+€2,376)
- Profit (loss) carried forward +€30,533
up €30,533, from -€8,435 to €22,098
- Advances received -€6,964
down €6,964 (-78.7%), from €8,844 to €1,880
- Trade debts -€3,645
down €3,645 (-39.9%), from €9,141 to €5,496
- Tax, wage and social debts -€2,220
no longer reported in 2025 (was €2,220)
of which Remuneration and social security: -€2,000
- Current portion of long-term debt -€2,070
no longer reported in 2025 (was €2,070)
- Gross operating margin +€42,359
up €42,359, from -€9,187 to €33,171
- Other operating charges -€360
down €360 (-40.2%), from €897 to €536
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 | €33,211 | €48,067 | +€14,856 | +44.7% |
| Fixed assets | 21/28 | €2,314 | €220 | -€2,094 | -90.5% |
| Tangible fixed assets | 22/27 | €2,094 | - | -€2,094 | |
| Furniture and vehicles | 24 | €2,094 | - | -€2,094 | |
| Financial fixed assets | 28 | €220 | €220 | = | 0.0% |
| Current assets | 29/58 | €30,897 | €47,847 | +€16,949 | +54.9% |
| Stocks and contracts in progress | 3 | €10,295 | €7,919 | -€2,376 | -23.1% |
| Stocks | 30/36 | €10,295 | €7,919 | -€2,376 | -23.1% |
| Amounts receivable within one year | 40/41 | €20,373 | €38,681 | +€18,308 | +89.9% |
| Trade receivables | 40 | €13,168 | €31,856 | +€18,689 | +141.9% |
| Other amounts receivable | 41 | €7,206 | €6,825 | -€381 | -5.3% |
| Cash at bank and in hand | 54/58 | - | €1,002 | +€1,002 | |
| Deferred charges and accrued income | 490/1 | €229 | €244 | +€15 | +6.6% |
| Total equity and liabilities | 10/49 | €33,211 | €48,067 | +€14,856 | +44.7% |
| Equity | 10/15 | €10,157 | €40,690 | +€30,533 | +300.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,435 | €22,098 | +€30,533 | |
| Amounts payable | 17/49 | €23,053 | €7,376 | -€15,677 | -68.0% |
| Amounts payable within one year | 42/48 | €23,053 | €7,376 | -€15,677 | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €2,070 | - | -€2,070 | |
| Financial debts | 43 | €779 | - | -€779 | |
| Credit institutions | 430/8 | €779 | - | -€779 | |
| Trade debts | 44 | €9,141 | €5,496 | -€3,645 | -39.9% |
| Suppliers | 440/4 | €9,141 | €5,496 | -€3,645 | -39.9% |
| Advances received on contracts in progress | 46 | €8,844 | €1,880 | -€6,964 | -78.7% |
| Taxes, remuneration and social security | 45 | €2,220 | - | -€2,220 | |
| Taxes | 450/3 | €220 | - | -€220 | |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,189 | €2,094 | -€96 | -4.4% |
| Other operating charges | 640/8 | €897 | €536 | -€360 | -40.2% |
| Gross operating margin | 9900 | -€9,187 | €33,171 | +€42,359 | |
| Operating profit (loss) | 9901 | -€12,273 | €30,542 | +€42,815 | |
| Financial income | 75/76B | €226 | €509 | +€283 | +125.3% |
| Recurring financial income | 75 | €226 | €509 | +€283 | +125.3% |
| Financial charges | 65/66B | €619 | €517 | -€101 | -16.4% |
| Recurring financial charges | 65 | €619 | €517 | -€101 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,666 | €30,533 | +€43,199 | |
| Profit (loss) for the period | 9904 | -€12,666 | €30,533 | +€43,199 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,666 | €30,533 | +€43,199 |
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.