EUTESESE: 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.
EUTESESE
Largest movements
- Receivables within one year -€260,436
down €260,436 (-70.4%), from €369,925 to €109,490
of which Trade receivables: -€244,381
- Cash -€126,234
down €126,234 (-62.5%), from €201,894 to €75,660
mainly Trade debts (-€576,148) and Contributions, distributions and other (-€175,000)
- Tangible fixed assets +€12,344
up €12,344 (+38.9%), from €31,711 to €44,055
of which Other tangible fixed assets: +€12,779
- Deferred charges and accrued income -€11,831
down €11,831 (-2.9%), from €402,760 to €390,929
- Trade debts -€576,148
down €576,148 (-82.8%), from €695,443 to €119,295
- Accrued charges and deferred income +€81,898
up €81,898 (+50.9%), from €160,916 to €242,813
- Other debts +€76,524
up €76,524 (+160%), from €47,700 to €124,224
- Reserves +€16,724
up €16,724 (+11,462%), from €146 to €16,870
- Tax, wage and social debts +€14,847
up €14,847 (+18.0%), from €82,485 to €97,332
- Write-downs -€13,457
down €13,457 (-100%), from €13,457 to €0
- Financial charges +€10,411
up €10,411 (+283%), from €3,681 to €14,091
- Gross operating margin -€9,277
down €9,277 (-3.1%), from €294,705 to €285,428
- Taxes -€5,695
down €5,695 (-8.5%), from €67,279 to €61,584
- Depreciation +€3,915
up €3,915 (+28.6%), from €13,690 to €17,605
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 | €1,006,290 | €620,134 | -€386,156 | -38.4% |
| Fixed assets | 21/28 | €31,711 | €44,055 | +€12,344 | +38.9% |
| Tangible fixed assets | 22/27 | €31,711 | €44,055 | +€12,344 | +38.9% |
| Furniture and vehicles | 24 | €16,944 | €16,509 | -€435 | -2.6% |
| Other tangible fixed assets | 26 | €14,767 | €27,546 | +€12,779 | +86.5% |
| Current assets | 29/58 | €974,579 | €576,079 | -€398,500 | -40.9% |
| Amounts receivable within one year | 40/41 | €369,925 | €109,490 | -€260,436 | -70.4% |
| Trade receivables | 40 | €345,129 | €100,748 | -€244,381 | -70.8% |
| Other amounts receivable | 41 | €24,796 | €8,742 | -€16,054 | -64.7% |
| Cash at bank and in hand | 54/58 | €201,894 | €75,660 | -€126,234 | -62.5% |
| Deferred charges and accrued income | 490/1 | €402,760 | €390,929 | -€11,831 | -2.9% |
| Total equity and liabilities | 10/49 | €1,006,290 | €620,134 | -€386,156 | -38.4% |
| Equity | 10/15 | €18,746 | €35,470 | +€16,724 | +89.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146 | €16,870 | +€16,724 | +11,462% |
| Distributable reserves | 133 | €146 | €16,870 | +€16,724 | +11,462% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €987,544 | €584,664 | -€402,880 | -40.8% |
| Amounts payable within one year | 42/48 | €826,628 | €341,851 | -€484,777 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €695,443 | €119,295 | -€576,148 | -82.8% |
| Suppliers | 440/4 | €695,443 | €119,295 | -€576,148 | -82.8% |
| Advances received on contracts in progress | 46 | €1,000 | €1,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €82,485 | €97,332 | +€14,847 | +18.0% |
| Taxes | 450/3 | €82,485 | €97,332 | +€14,847 | +18.0% |
| Other amounts payable | 47/48 | €47,700 | €124,224 | +€76,524 | +160% |
| Accrued charges and deferred income | 492/3 | €160,916 | €242,813 | +€81,898 | +50.9% |
| Non-recurring operating income | 76A | - | €14,790 | +€14,790 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,690 | €17,605 | +€3,915 | +28.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,457 | €0 | -€13,457 | -100% |
| Other operating charges | 640/8 | €1,584 | €2,665 | +€1,081 | +68.2% |
| Gross operating margin | 9900 | €294,705 | €285,428 | -€9,277 | -3.1% |
| Operating profit (loss) | 9901 | €265,974 | €265,158 | -€816 | -0.3% |
| Financial income | 75/76B | €0 | €2,241 | +€2,241 | |
| Recurring financial income | 75 | €0 | €2,241 | +€2,241 | |
| Financial charges | 65/66B | €3,681 | €14,091 | +€10,411 | +283% |
| Recurring financial charges | 65 | €3,681 | €14,091 | +€10,411 | +283% |
| Profit (loss) for the period before taxes | 9903 | €262,293 | €253,308 | -€8,986 | -3.4% |
| Income taxes | 67/77 | €67,279 | €61,584 | -€5,695 | -8.5% |
| Profit (loss) for the period | 9904 | €195,014 | €191,724 | -€3,290 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €195,014 | €191,724 | -€3,290 | -1.7% |
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 17 October 2026 via checked.be.