ETT DISTRIBUTION: 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.
What changed
ETT DISTRIBUTION
NACE 46.500, Wholesale of information and communication equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€359,883
2024 · -€1.9m+€1.5m
Equity
-€1.2m
2024 · -€841,298-€359,883
Cash
€12,932
2024 · €12,989-€57
Balance sheet total
€543,888
2024 · €1.0m-€494,709
Largest movements
Assets
- Stocks and contracts -€311,827
down €311,827 (-96.9%), from €321,697 to €9,870
- Receivables within one year -€182,083
down €182,083 (-26.0%), from €700,921 to €518,838
of which Trade receivables: -€161,506
Equity and liabilities
- Profit (loss) carried forward -€359,883
down €359,883 (-34.7%), from -€1.0m to -€1.4m
- Trade debts -€214,886
down €214,886 (-53.9%), from €398,571 to €183,685
- Tax, wage and social debts +€165,014
up €165,014 (+90.7%), from €182,030 to €347,044
of which Taxes: +€181,172
- Debts after one year -€80,021
down €80,021 (-6.4%), from €1.3m to €1.2m
- Short-term financial debts +€16,130
new in 2025: €16,130
Income statement
- Purchases and services -€26.4m
down €26.4m (-97.5%), from €27.1m to €673,232
- Turnover -€25.7m
down €25.7m (-97.8%), from €26.3m to €567,033
- Staff costs -€659,547
down €659,547 (-58.8%), from €1.1m to €462,717
- Gross operating margin +€631,731
up €631,731, from -€502,528 to €129,203
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.
Result 2024
-€1.9m
Gross operating margin
+€631,731
Staff costs
+€659,547
Depreciation
+€1,484
Write-downs
+€154,080
Provisions
-€82,365
Other operating charges
+€29,849
Other operating items
-€4,943
Financial income
-€30,197
Financial charges
+€120,937
Taxes
+€16,219
Result 2025
-€359,883
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€71,544
Investment
€0
Financing
-€71,601
Cash 2024
€12,989
From operations (derived)
+€71,544
Net result for the year
-€359,883
Depreciation
+€741
Stocks and contracts
+€311,827
Receivables within one year
+€182,083
Provisions
-€15,000
Trade debts
-€214,886
Tax, wage and social debts
+€165,014
Other debts
+€1,647
Financing
-€71,601
Debts after one year
-€80,021
Current portion of long-term debt
-€7,709
Short-term financial debts
+€16,130
Cash 2025
€12,932
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,038,597 | €543,888 | -€494,709 | -47.6% |
| Fixed assets | 21/28 | €2,989 | €2,248 | -€741 | -24.8% |
| Tangible fixed assets | 22/27 | €2,949 | €2,208 | -€741 | -25.1% |
| Furniture and vehicles | 24 | €2,949 | €2,208 | -€741 | -25.1% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €1,035,607 | €541,640 | -€493,967 | -47.7% |
| Stocks and contracts in progress | 3 | €321,697 | €9,870 | -€311,827 | -96.9% |
| Stocks | 30/36 | €321,697 | €9,870 | -€311,827 | -96.9% |
| Amounts receivable within one year | 40/41 | €700,921 | €518,838 | -€182,083 | -26.0% |
| Trade receivables | 40 | €660,344 | €498,838 | -€161,506 | -24.5% |
| Other amounts receivable | 41 | €40,577 | €20,000 | -€20,577 | -50.7% |
| Cash at bank and in hand | 54/58 | €12,989 | €12,932 | -€57 | -0.4% |
| Total equity and liabilities | 10/49 | €1,038,597 | €543,888 | -€494,709 | -47.6% |
| Equity | 10/15 | -€841,298 | -€1,201,181 | -€359,883 | -42.8% |
| Contributions | 10/11 | €196,043 | €196,043 | = | 0.0% |
| Reserves | 13 | €166 | €166 | = | 0.0% |
| Non-distributable reserves | 130/1 | €166 | €166 | = | 0.0% |
| Reserves not available under the articles | 1311 | €166 | €166 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,037,507 | -€1,397,390 | -€359,883 | -34.7% |
| Provisions and deferred taxes | 16 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Other liabilities and charges | 164/5 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Amounts payable | 17/49 | €1,839,894 | €1,720,069 | -€119,826 | -6.5% |
| Amounts payable after more than one year | 17 | €1,251,563 | €1,171,542 | -€80,021 | -6.4% |
| Financial debts | 170/4 | €1,251,563 | €1,171,542 | -€80,021 | -6.4% |
| Amounts payable within one year | 42/48 | €588,331 | €548,527 | -€39,804 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €7,709 | - | -€7,709 | |
| Financial debts | 43 | - | €16,130 | +€16,130 | |
| Other loans | 439 | - | €16,130 | +€16,130 | |
| Trade debts | 44 | €398,571 | €183,685 | -€214,886 | -53.9% |
| Suppliers | 440/4 | €398,571 | €183,685 | -€214,886 | -53.9% |
| Taxes, remuneration and social security | 45 | €182,030 | €347,044 | +€165,014 | +90.7% |
| Taxes | 450/3 | €5,692 | €186,865 | +€181,172 | +3,183% |
| Remuneration and social security | 454/9 | €176,338 | €160,179 | -€16,159 | -9.2% |
| Other amounts payable | 47/48 | €20 | €1,667 | +€1,647 | +8,235% |
| Turnover | 70 | €26,279,490 | €567,033 | -€25.7m | -97.8% |
| Non-recurring operating income | 76A | €1,096 | €748,631 | +€747,535 | +68,214% |
| Goods, raw materials, services and sundry goods | 60/61 | €27,100,068 | €673,232 | -€26.4m | -97.5% |
| Remuneration, social security and pensions | 62 | €1,122,265 | €462,717 | -€659,547 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,226 | €741 | -€1,484 | -66.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €154,080 | - | -€154,080 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€82,365 | - | +€82,365 | |
| Other operating charges | 640/8 | €41,475 | €11,626 | -€29,849 | -72.0% |
| Non-recurring operating charges | 66A | €1,096 | €6,039 | +€4,943 | +451% |
| Gross operating margin | 9900 | -€502,528 | €129,203 | +€631,731 | |
| Operating profit (loss) | 9901 | -€1,741,304 | -€351,920 | +€1.4m | +79.8% |
| Financial income | 75/76B | €30,619 | €422 | -€30,197 | -98.6% |
| Recurring financial income | 75 | €30,619 | €422 | -€30,197 | -98.6% |
| Financial charges | 65/66B | €123,913 | €2,976 | -€120,937 | -97.6% |
| Recurring financial charges | 65 | €123,913 | €2,976 | -€120,937 | -97.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,834,597 | -€354,474 | +€1.5m | +80.7% |
| Income taxes | 67/77 | €21,628 | €5,409 | -€16,219 | -75.0% |
| Profit (loss) for the period | 9904 | -€1,856,225 | -€359,883 | +€1.5m | +80.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,856,225 | -€359,883 | +€1.5m | +80.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.