EUROPEAN TECHNICAL DEVELOPMENT: 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.
EUROPEAN TECHNICAL DEVELOPMENT
Largest movements
- Cash +€89,765
up €89,765 (+62.8%), from €142,840 to €232,605
mainly Net result for the year (+€42,770) and Current portion of long-term debt (+€26,955)
- Tangible fixed assets -€20,087
down €20,087 (-47.3%), from €42,473 to €22,386
- Receivables within one year -€12,443
down €12,443 (-11.3%), from €109,959 to €97,516
of which Other amounts receivable: -€18,206
- Current portion of long-term debt +€26,955
up €26,955 (+51.3%), from €52,520 to €79,475
- Profit (loss) carried forward +€22,770
up €22,770 (+42.0%), from €54,244 to €77,014
- Trade debts -€17,970
down €17,970 (-84.1%), from €21,371 to €3,401
- Other debts +€14,000
new in 2025: €14,000
- Tax, wage and social debts +€11,460
up €11,460 (+48.8%), from €23,475 to €34,935
of which Taxes: +€22,213
- Staff costs -€74,131
down €74,131 (-33.7%), from €219,926 to €145,795
- Taxes +€14,627
up €14,627 (+2,722%), from €537 to €15,164
- Other operating charges +€3,319
up €3,319 (+54.1%), from €6,136 to €9,455
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 | €330,990 | €388,205 | +€57,215 | +17.3% |
| Fixed assets | 21/28 | €42,850 | €22,763 | -€20,087 | -46.9% |
| Tangible fixed assets | 22/27 | €42,473 | €22,386 | -€20,087 | -47.3% |
| Furniture and vehicles | 24 | €42,473 | €22,386 | -€20,087 | -47.3% |
| Financial fixed assets | 28 | €377 | €377 | = | 0.0% |
| Current assets | 29/58 | €288,141 | €365,442 | +€77,302 | +26.8% |
| Stocks and contracts in progress | 3 | €25,842 | €27,451 | +€1,609 | +6.2% |
| Stocks | 30/36 | €25,842 | €27,451 | +€1,609 | +6.2% |
| Amounts receivable within one year | 40/41 | €109,959 | €97,516 | -€12,443 | -11.3% |
| Trade receivables | 40 | €91,753 | €97,516 | +€5,763 | +6.3% |
| Other amounts receivable | 41 | €18,206 | - | -€18,206 | |
| Cash at bank and in hand | 54/58 | €142,840 | €232,605 | +€89,765 | +62.8% |
| Deferred charges and accrued income | 490/1 | €9,499 | €7,870 | -€1,629 | -17.2% |
| Total equity and liabilities | 10/49 | €330,990 | €388,205 | +€57,215 | +17.3% |
| Equity | 10/15 | €233,624 | €256,394 | +€22,770 | +9.7% |
| Contributions | 10/11 | €21,071 | €21,071 | = | 0.0% |
| Reserves | 13 | €158,309 | €158,309 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €155,210 | €155,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,244 | €77,014 | +€22,770 | +42.0% |
| Amounts payable | 17/49 | €97,366 | €131,811 | +€34,445 | +35.4% |
| Amounts payable within one year | 42/48 | €97,366 | €131,811 | +€34,445 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €52,520 | €79,475 | +€26,955 | +51.3% |
| Trade debts | 44 | €21,371 | €3,401 | -€17,970 | -84.1% |
| Suppliers | 440/4 | €21,371 | €3,401 | -€17,970 | -84.1% |
| Taxes, remuneration and social security | 45 | €23,475 | €34,935 | +€11,460 | +48.8% |
| Taxes | 450/3 | €1,481 | €23,694 | +€22,213 | +1,500% |
| Remuneration and social security | 454/9 | €21,994 | €11,241 | -€10,753 | -48.9% |
| Other amounts payable | 47/48 | - | €14,000 | +€14,000 | |
| Non-recurring operating income | 76A | €493 | €71 | -€422 | -85.5% |
| Remuneration, social security and pensions | 62 | €219,926 | €145,795 | -€74,131 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,289 | €20,087 | +€797 | +4.1% |
| Other operating charges | 640/8 | €6,136 | €9,455 | +€3,319 | +54.1% |
| Non-recurring operating charges | 66A | €680 | €110 | -€570 | -83.8% |
| Gross operating margin | 9900 | €233,220 | €232,985 | -€235 | -0.1% |
| Operating profit (loss) | 9901 | -€12,812 | €57,538 | +€70,350 | |
| Financial income | 75/76B | €703 | €787 | +€84 | +12.0% |
| Recurring financial income | 75 | €703 | €787 | +€84 | +12.0% |
| Financial charges | 65/66B | €606 | €391 | -€215 | -35.4% |
| Recurring financial charges | 65 | €606 | €391 | -€215 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,715 | €57,934 | +€70,649 | |
| Income taxes | 67/77 | €537 | €15,164 | +€14,627 | +2,722% |
| Profit (loss) for the period | 9904 | -€13,252 | €42,770 | +€56,022 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,252 | €42,770 | +€56,022 |
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 27 October 2026 via checked.be.