ETTORE DECLERCK: what changed
What changed
ETTORE DECLERCK
NACE 33.120, Repair and maintenance of machinery
filed annual accounts (NBB)
Net result for the year
€90,952
2024 · €72,799+€18,153
Equity
€467,758
2024 · €377,406+€90,352
Cash
€156,620
2024 · €366,637-€210,017
Balance sheet total
€1.2m
2024 · €1.1m+€141,949
Largest movements
Assets
- Tangible fixed assets +€358,193
up €358,193 (+58.4%), from €612,891 to €971,084
of which Land and buildings: +€310,859
- Cash -€210,017
down €210,017 (-57.3%), from €366,637 to €156,620
mainly Investment in fixed assets (net) (-€474,361) and Debts after one year (-€21,233)
Equity and liabilities
- Reserves +€90,352
up €90,352 (+24.3%), from €372,406 to €462,758
- Other debts +€50,188
up €50,188 (+23.6%), from €213,050 to €263,237
- Short-term financial debts +€30,000
new in 2025: €30,000
- Debts after one year -€21,233
down €21,233 (-7.3%), from €290,407 to €269,174
- Trade debts -€18,540
down €18,540 (-20.7%), from €89,398 to €70,858
Income statement
- Gross operating margin +€80,625
up €80,625 (+47.3%), from €170,512 to €251,137
- Depreciation +€52,946
up €52,946 (+93.7%), from €56,513 to €109,458
- Financial charges +€4,420
up €4,420 (+24.7%), from €17,923 to €22,343
- Taxes +€3,120
up €3,120 (+15.2%), from €20,476 to €23,596
- Other operating charges +€2,743
up €2,743 (+96.3%), from €2,849 to €5,591
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€72,799
Gross operating margin
+€80,625
Depreciation
-€52,946
Other operating charges
-€2,743
Financial income
+€756
Financial charges
-€4,420
Taxes
-€3,120
Result 2025
€90,952
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€249,528
Investment
-€474,361
Financing
+€14,816
Cash 2024
€366,637
From operations (derived)
+€249,528
Net result for the year
+€90,952
Depreciation
+€109,458
Stocks and contracts
+€9,103
Receivables within one year
+€5,314
Deferred charges and accrued income
-€1,480
Trade debts
-€18,540
Tax, wage and social debts
+€1,252
Other debts
+€50,188
Accrued charges and deferred income
+€3,281
Investment (derived)
-€474,361
Investment in fixed assets (net)
-€474,361
Financing
+€14,816
Debts after one year
-€21,233
Current portion of long-term debt
+€6,650
Short-term financial debts
+€30,000
Contributions, distributions and other
-€600
Cash 2025
€156,620
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,060,794 | €1,202,743 | +€141,949 | +13.4% |
| Fixed assets | 21/28 | €612,891 | €977,794 | +€364,903 | +59.5% |
| Tangible fixed assets | 22/27 | €612,891 | €971,084 | +€358,193 | +58.4% |
| Land and buildings | 22 | €490,841 | €801,700 | +€310,859 | +63.3% |
| Plant, machinery and equipment | 23 | €57,098 | €45,743 | -€11,355 | -19.9% |
| Furniture and vehicles | 24 | €64,952 | €123,642 | +€58,690 | +90.4% |
| Financial fixed assets | 28 | - | €6,710 | +€6,710 | |
| Current assets | 29/58 | €447,904 | €224,950 | -€222,954 | -49.8% |
| Stocks and contracts in progress | 3 | €20,828 | €11,725 | -€9,103 | -43.7% |
| Stocks | 30/36 | €20,828 | €11,725 | -€9,103 | -43.7% |
| Amounts receivable within one year | 40/41 | €59,431 | €54,118 | -€5,314 | -8.9% |
| Trade receivables | 40 | €59,190 | €47,338 | -€11,853 | -20.0% |
| Other amounts receivable | 41 | €241 | €6,780 | +€6,539 | +2,714% |
| Cash at bank and in hand | 54/58 | €366,637 | €156,620 | -€210,017 | -57.3% |
| Deferred charges and accrued income | 490/1 | €1,007 | €2,487 | +€1,480 | +147% |
| Total equity and liabilities | 10/49 | €1,060,794 | €1,202,743 | +€141,949 | +13.4% |
| Equity | 10/15 | €377,406 | €467,758 | +€90,352 | +23.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €372,406 | €462,758 | +€90,352 | +24.3% |
| Distributable reserves | 133 | €372,406 | €462,758 | +€90,352 | +24.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €683,389 | €734,986 | +€51,597 | +7.6% |
| Amounts payable after more than one year | 17 | €290,407 | €269,174 | -€21,233 | -7.3% |
| Financial debts | 170/4 | €290,407 | €269,174 | -€21,233 | -7.3% |
| Amounts payable within one year | 42/48 | €384,681 | €454,230 | +€69,549 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €41,550 | €48,200 | +€6,650 | +16.0% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €89,398 | €70,858 | -€18,540 | -20.7% |
| Suppliers | 440/4 | €89,398 | €70,858 | -€18,540 | -20.7% |
| Taxes, remuneration and social security | 45 | €40,683 | €41,935 | +€1,252 | +3.1% |
| Taxes | 450/3 | €40,683 | €41,935 | +€1,252 | +3.1% |
| Other amounts payable | 47/48 | €213,050 | €263,237 | +€50,188 | +23.6% |
| Accrued charges and deferred income | 492/3 | €8,301 | €11,582 | +€3,281 | +39.5% |
| Non-recurring operating income | 76A | - | €5,346 | +€5,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,513 | €109,458 | +€52,946 | +93.7% |
| Other operating charges | 640/8 | €2,849 | €5,591 | +€2,743 | +96.3% |
| Gross operating margin | 9900 | €170,512 | €251,137 | +€80,625 | +47.3% |
| Operating profit (loss) | 9901 | €111,151 | €136,087 | +€24,936 | +22.4% |
| Financial income | 75/76B | €48 | €803 | +€756 | +1,588% |
| Recurring financial income | 75 | €48 | €803 | +€756 | +1,588% |
| Financial charges | 65/66B | €17,923 | €22,343 | +€4,420 | +24.7% |
| Recurring financial charges | 65 | €17,923 | €22,343 | +€4,420 | +24.7% |
| Profit (loss) for the period before taxes | 9903 | €93,275 | €114,548 | +€21,272 | +22.8% |
| Income taxes | 67/77 | €20,476 | €23,596 | +€3,120 | +15.2% |
| Profit (loss) for the period | 9904 | €72,799 | €90,952 | +€18,153 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,799 | €90,952 | +€18,153 | +24.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.