etuinen: 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.
etuinen
Largest movements
- Cash +€31,681
up €31,681 (+525%), from €6,030 to €37,711
mainly Depreciation (+€32,759) and Receivables within one year (+€17,924)
- Tangible fixed assets -€24,070
down €24,070 (-36.9%), from €65,273 to €41,203
- Receivables within one year -€17,924
down €17,924 (-52.3%), from €34,254 to €16,330
of which Trade receivables: -€18,592
- Deferred charges and accrued income +€12,250
up €12,250 (+1,662%), from €737 to €12,986
- Profit (loss) carried forward +€12,551
up €12,551 (+23.8%), from -€52,781 to -€40,229
- Debts after one year -€8,227
down €8,227 (-100%), from €8,227 to €0
- Tax, wage and social debts +€5,318
up €5,318 (+347%), from €1,532 to €6,850
of which Taxes: +€4,794
- Trade debts -€4,231
down €4,231 (-71.5%), from €5,921 to €1,690
- Current portion of long-term debt -€3,457
down €3,457 (-29.6%), from €11,685 to €8,227
- Staff costs -€22,067
down €22,067 (-80.4%), from €27,443 to €5,376
- Gross operating margin -€9,973
down €9,973 (-15.5%), from €64,250 to €54,277
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 | €106,826 | €108,662 | +€1,836 | +1.7% |
| Fixed assets | 21/28 | €65,805 | €41,634 | -€24,170 | -36.7% |
| Intangible fixed assets | 21 | €531 | €431 | -€100 | -18.8% |
| Tangible fixed assets | 22/27 | €65,273 | €41,203 | -€24,070 | -36.9% |
| Plant, machinery and equipment | 23 | €37,896 | €30,435 | -€7,461 | -19.7% |
| Furniture and vehicles | 24 | €15,586 | €7,497 | -€8,090 | -51.9% |
| Leasing and similar rights | 25 | €11,791 | €3,271 | -€8,520 | -72.3% |
| Current assets | 29/58 | €41,021 | €67,028 | +€26,007 | +63.4% |
| Amounts receivable within one year | 40/41 | €34,254 | €16,330 | -€17,924 | -52.3% |
| Trade receivables | 40 | €31,677 | €13,086 | -€18,592 | -58.7% |
| Other amounts receivable | 41 | €2,576 | €3,244 | +€668 | +25.9% |
| Cash at bank and in hand | 54/58 | €6,030 | €37,711 | +€31,681 | +525% |
| Deferred charges and accrued income | 490/1 | €737 | €12,986 | +€12,250 | +1,662% |
| Total equity and liabilities | 10/49 | €106,826 | €108,662 | +€1,836 | +1.7% |
| Equity | 10/15 | -€50,781 | -€38,229 | +€12,551 | +24.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,781 | -€40,229 | +€12,551 | +23.8% |
| Amounts payable | 17/49 | €157,606 | €146,891 | -€10,715 | -6.8% |
| Amounts payable after more than one year | 17 | €8,227 | €0 | -€8,227 | -100% |
| Financial debts | 170/4 | €8,227 | €0 | -€8,227 | -100% |
| Amounts payable within one year | 42/48 | €149,379 | €146,737 | -€2,642 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €11,685 | €8,227 | -€3,457 | -29.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,921 | €1,690 | -€4,231 | -71.5% |
| Suppliers | 440/4 | €5,921 | €1,690 | -€4,231 | -71.5% |
| Taxes, remuneration and social security | 45 | €1,532 | €6,850 | +€5,318 | +347% |
| Taxes | 450/3 | €1,251 | €6,045 | +€4,794 | +383% |
| Remuneration and social security | 454/9 | €281 | €805 | +€523 | +186% |
| Other amounts payable | 47/48 | €130,241 | €129,970 | -€271 | -0.2% |
| Accrued charges and deferred income | 492/3 | - | €154 | +€154 | |
| Remuneration, social security and pensions | 62 | €27,443 | €5,376 | -€22,067 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,140 | €32,759 | -€381 | -1.1% |
| Other operating charges | 640/8 | €1,776 | €1,920 | +€144 | +8.1% |
| Non-recurring operating charges | 66A | - | €383 | +€383 | |
| Gross operating margin | 9900 | €64,250 | €54,277 | -€9,973 | -15.5% |
| Operating profit (loss) | 9901 | €1,891 | €13,839 | +€11,948 | +632% |
| Financial income | 75/76B | €1 | €311 | +€310 | +27,157% |
| Recurring financial income | 75 | €1 | €311 | +€310 | +27,157% |
| Financial charges | 65/66B | €1,676 | €1,467 | -€209 | -12.5% |
| Recurring financial charges | 65 | €1,676 | €1,467 | -€209 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €216 | €12,683 | +€12,467 | +5,768% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | €88 | €12,551 | +€12,463 | +14,140% |
| Profit (loss) for the period to be appropriated | 9905 | €88 | €12,551 | +€12,463 | +14,140% |
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 21 October 2026 via checked.be.