ETTEXH: 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.
ETTEXH
Largest movements
- Cash +€41,980
up €41,980 (+351%), from €11,970 to €53,950
mainly Net result for the year (+€34,592) and Receivables within one year (+€22,639)
- Receivables within one year -€22,639
down €22,639 (-96.6%), from €23,444 to €805
of which Trade receivables: -€22,639
- Financial fixed assets +€19,500
new in 2025: €19,500
- Tangible fixed assets -€4,694
down €4,694 (-18.2%), from €25,791 to €21,097
of which Furniture and vehicles: -€3,093
- Profit (loss) carried forward +€34,592
up €34,592 (+143%), from €24,107 to €58,699
- Other debts -€6,790
down €6,790 (-24.2%), from €28,077 to €21,287
- Tax, wage and social debts +€6,205
up €6,205 (+90.2%), from €6,880 to €13,086
of which Taxes: +€8,087
- Gross operating margin +€27,416
up €27,416 (+109%), from €25,182 to €52,598
- Taxes +€6,005
up €6,005 (+142%), from €4,234 to €10,238
- Financial charges +€1,832
up €1,832 (+2,490%), from €74 to €1,905
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,251 | €95,401 | +€34,149 | +55.8% |
| Fixed assets | 21/28 | €25,791 | €40,597 | +€14,806 | +57.4% |
| Tangible fixed assets | 22/27 | €25,791 | €21,097 | -€4,694 | -18.2% |
| Furniture and vehicles | 24 | €13,346 | €10,252 | -€3,093 | -23.2% |
| Other tangible fixed assets | 26 | €12,445 | €10,845 | -€1,600 | -12.9% |
| Financial fixed assets | 28 | - | €19,500 | +€19,500 | |
| Current assets | 29/58 | €35,461 | €54,804 | +€19,343 | +54.5% |
| Amounts receivable within one year | 40/41 | €23,444 | €805 | -€22,639 | -96.6% |
| Trade receivables | 40 | €22,760 | €121 | -€22,639 | -99.5% |
| Other amounts receivable | 41 | €684 | €684 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,970 | €53,950 | +€41,980 | +351% |
| Deferred charges and accrued income | 490/1 | €47 | €49 | +€2 | +3.7% |
| Total equity and liabilities | 10/49 | €61,251 | €95,401 | +€34,149 | +55.8% |
| Equity | 10/15 | €26,107 | €60,699 | +€34,592 | +133% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,107 | €58,699 | +€34,592 | +143% |
| Amounts payable | 17/49 | €35,145 | €34,702 | -€443 | -1.3% |
| Amounts payable within one year | 42/48 | €34,983 | €34,702 | -€281 | -0.8% |
| Trade debts | 44 | €25 | €329 | +€304 | +1,216% |
| Suppliers | 440/4 | €25 | €329 | +€304 | +1,216% |
| Taxes, remuneration and social security | 45 | €6,880 | €13,086 | +€6,205 | +90.2% |
| Taxes | 450/3 | €4,910 | €12,998 | +€8,087 | +165% |
| Remuneration and social security | 454/9 | €1,970 | €88 | -€1,882 | -95.5% |
| Other amounts payable | 47/48 | €28,077 | €21,287 | -€6,790 | -24.2% |
| Accrued charges and deferred income | 492/3 | €162 | €0 | -€162 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,232 | €5,943 | -€290 | -4.6% |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | €25,182 | €52,598 | +€27,416 | +109% |
| Operating profit (loss) | 9901 | €18,950 | €46,655 | +€27,705 | +146% |
| Financial income | 75/76B | €59 | €81 | +€22 | +36.9% |
| Recurring financial income | 75 | €59 | €81 | +€22 | +36.9% |
| Financial charges | 65/66B | €74 | €1,905 | +€1,832 | +2,490% |
| Recurring financial charges | 65 | €74 | €1,905 | +€1,832 | +2,490% |
| Profit (loss) for the period before taxes | 9903 | €18,935 | €44,831 | +€25,895 | +137% |
| Income taxes | 67/77 | €4,234 | €10,238 | +€6,005 | +142% |
| Profit (loss) for the period | 9904 | €14,702 | €34,592 | +€19,891 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €14,702 | €34,592 | +€19,891 | +135% |
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 25 October 2026 via checked.be.