ETUFI - CO: 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.
ETUFI - CO
Largest movements
- Cash +€92,021
up €92,021 (+317%), from €29,040 to €121,061
mainly Other debts (+€234,569) and Investment in fixed assets (net) (+€53,163)
- Financial fixed assets -€52,257
down €52,257 (-17.8%), from €293,132 to €240,875
- Receivables within one year +€9,740
up €9,740 (+592%), from €1,644 to €11,384
of which Trade receivables: +€9,615
- Other debts +€234,569
up €234,569 (+1,072%), from €21,889 to €256,458
- Debts after one year -€232,338
down €232,338 (-78.5%), from €295,852 to €63,514
- Profit (loss) carried forward +€43,313
up €43,313 (+29.9%), from -€144,930 to -€101,617
- Financial income +€53,728
up €53,728 (+10,923%), from €492 to €54,220
of which Non-recurring financial income: +€53,800
- Financial charges -€47,461
down €47,461 (-74.4%), from €63,787 to €16,326
of which Non-recurring financial charges: -€39,743
- Purchases and services -€21,904
no longer reported in 2025 (was €21,904)
- Turnover -€19,006
no longer reported in 2025 (was €19,006)
- Gross operating margin +€11,218
up €11,218, from -€2,898 to €8,320
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 | €331,774 | €378,455 | +€46,681 | +14.1% |
| Fixed assets | 21/28 | €300,349 | €245,269 | -€55,080 | -18.3% |
| Tangible fixed assets | 22/27 | €7,217 | €4,394 | -€2,823 | -39.1% |
| Plant, machinery and equipment | 23 | €1,721 | €1,334 | -€387 | -22.5% |
| Furniture and vehicles | 24 | €5,497 | €3,060 | -€2,436 | -44.3% |
| Financial fixed assets | 28 | €293,132 | €240,875 | -€52,257 | -17.8% |
| Current assets | 29/58 | €31,425 | €133,186 | +€101,761 | +324% |
| Amounts receivable within one year | 40/41 | €1,644 | €11,384 | +€9,740 | +592% |
| Trade receivables | 40 | €1,275 | €10,890 | +€9,615 | +754% |
| Other amounts receivable | 41 | €369 | €494 | +€125 | +33.8% |
| Cash at bank and in hand | 54/58 | €29,040 | €121,061 | +€92,021 | +317% |
| Deferred charges and accrued income | 490/1 | €742 | €742 | = | 0.0% |
| Total equity and liabilities | 10/49 | €331,774 | €378,455 | +€46,681 | +14.1% |
| Equity | 10/15 | €7,071 | €50,384 | +€43,313 | +613% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,001 | €2,001 | = | 0.0% |
| Non-distributable reserves | 130/1 | €604 | €604 | = | 0.0% |
| Reserves not available under the articles | 1311 | €604 | €604 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,397 | €1,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€144,930 | -€101,617 | +€43,313 | +29.9% |
| Amounts payable | 17/49 | €324,703 | €328,071 | +€3,368 | +1.0% |
| Amounts payable after more than one year | 17 | €295,852 | €63,514 | -€232,338 | -78.5% |
| Other amounts payable | 178/9 | €295,852 | €63,514 | -€232,338 | -78.5% |
| Amounts payable within one year | 42/48 | €28,851 | €264,557 | +€235,706 | +817% |
| Trade debts | 44 | €6,962 | €8,099 | +€1,137 | +16.3% |
| Suppliers | 440/4 | €6,962 | €8,099 | +€1,137 | +16.3% |
| Other amounts payable | 47/48 | €21,889 | €256,458 | +€234,569 | +1,072% |
| Turnover | 70 | €19,006 | - | -€19,006 | |
| Goods, raw materials, services and sundry goods | 60/61 | €21,904 | - | -€21,904 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,567 | €1,917 | -€3,650 | -65.6% |
| Other operating charges | 640/8 | €202 | €141 | -€61 | -30.2% |
| Non-recurring operating charges | 66A | - | €906 | +€906 | |
| Gross operating margin | 9900 | -€2,898 | €8,320 | +€11,218 | |
| Operating profit (loss) | 9901 | -€8,668 | €5,356 | +€14,024 | |
| Financial income | 75/76B | €492 | €54,220 | +€53,728 | +10,923% |
| Recurring financial income | 75 | €492 | €420 | -€72 | -14.5% |
| Non-recurring financial income | 76B | - | €53,800 | +€53,800 | |
| Financial charges | 65/66B | €63,787 | €16,326 | -€47,461 | -74.4% |
| Recurring financial charges | 65 | €7,987 | €269 | -€7,718 | -96.6% |
| Non-recurring financial charges | 66B | €55,800 | €16,057 | -€39,743 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | -€71,963 | €43,250 | +€115,213 | |
| Income taxes | 67/77 | - | -€63 | -€63 | |
| Profit (loss) for the period | 9904 | -€71,963 | €43,313 | +€115,276 | |
| Profit (loss) for the period to be appropriated | 9905 | -€71,963 | €43,313 | +€115,276 |
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 1 November 2026 via checked.be.