Etude Debatty: 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.
Etude Debatty
Largest movements
- Cash +€102,633
up €102,633 (+75.4%), from €136,132 to €238,766
mainly Net result for the year (+€235,159) and Depreciation (+€29,773)
- Receivables within one year +€48,857
up €48,857 (+95.3%), from €51,261 to €100,118
- Tangible fixed assets -€16,298
down €16,298 (-16.9%), from €96,441 to €80,143
- Intangible fixed assets -€4,600
down €4,600 (-25.0%), from €18,400 to €13,800
- Profit (loss) carried forward +€235,160
up €235,160 (+226%), from €103,891 to €339,050
- Trade debts -€73,793
down €73,793 (-76.1%), from €96,989 to €23,196
- Debts after one year -€26,433
down €26,433 (-76.2%), from €34,683 to €8,250
- Current portion of long-term debt -€6,310
down €6,310 (-65.7%), from €9,610 to €3,300
- Accrued charges and deferred income +€5,536
up €5,536 (+109%), from €5,076 to €10,612
- Gross operating margin +€174,281
up €174,281 (+105%), from €165,479 to €339,760
- Taxes +€40,755
up €40,755 (+134%), from €30,514 to €71,268
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 | €303,162 | €433,522 | +€130,360 | +43.0% |
| Formation expenses | 20 | €928 | €696 | -€232 | -25.0% |
| Fixed assets | 21/28 | €114,841 | €93,943 | -€20,898 | -18.2% |
| Intangible fixed assets | 21 | €18,400 | €13,800 | -€4,600 | -25.0% |
| Tangible fixed assets | 22/27 | €96,441 | €80,143 | -€16,298 | -16.9% |
| Furniture and vehicles | 24 | €96,441 | €80,143 | -€16,298 | -16.9% |
| Current assets | 29/58 | €187,393 | €338,883 | +€151,490 | +80.8% |
| Amounts receivable within one year | 40/41 | €51,261 | €100,118 | +€48,857 | +95.3% |
| Trade receivables | 40 | €51,261 | €100,118 | +€48,857 | +95.3% |
| Cash at bank and in hand | 54/58 | €136,132 | €238,766 | +€102,633 | +75.4% |
| Total equity and liabilities | 10/49 | €303,162 | €433,522 | +€130,360 | +43.0% |
| Equity | 10/15 | €105,391 | €340,550 | +€235,160 | +223% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,891 | €339,050 | +€235,160 | +226% |
| Amounts payable | 17/49 | €197,771 | €92,972 | -€104,800 | -53.0% |
| Amounts payable after more than one year | 17 | €34,683 | €8,250 | -€26,433 | -76.2% |
| Financial debts | 170/4 | €34,683 | €8,250 | -€26,433 | -76.2% |
| Amounts payable within one year | 42/48 | €158,013 | €74,110 | -€83,903 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €9,610 | €3,300 | -€6,310 | -65.7% |
| Trade debts | 44 | €96,989 | €23,196 | -€73,793 | -76.1% |
| Suppliers | 440/4 | €96,989 | €23,196 | -€73,793 | -76.1% |
| Taxes, remuneration and social security | 45 | €45,658 | €41,217 | -€4,441 | -9.7% |
| Taxes | 450/3 | €45,658 | €41,217 | -€4,441 | -9.7% |
| Other amounts payable | 47/48 | €5,755 | €6,397 | +€642 | +11.2% |
| Accrued charges and deferred income | 492/3 | €5,076 | €10,612 | +€5,536 | +109% |
| Remuneration, social security and pensions | 62 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,942 | €29,773 | +€831 | +2.9% |
| Other operating charges | 640/8 | €266 | €702 | +€436 | +164% |
| Gross operating margin | 9900 | €165,479 | €339,760 | +€174,281 | +105% |
| Operating profit (loss) | 9901 | €136,271 | €308,584 | +€172,314 | +126% |
| Financial charges | 65/66B | €1,866 | €2,157 | +€290 | +15.6% |
| Recurring financial charges | 65 | €1,866 | €2,157 | +€290 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €134,404 | €306,428 | +€172,023 | +128% |
| Income taxes | 67/77 | €30,514 | €71,268 | +€40,755 | +134% |
| Profit (loss) for the period | 9904 | €103,891 | €235,159 | +€131,269 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €103,891 | €235,159 | +€131,269 | +126% |
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 19 October 2026 via checked.be.