EUTRACO Holding: 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.
What changed
EUTRACO Holding
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€267,010
2024 · €352,731-€85,721
Equity
€19.0m
2024 · €18.8m+€267,010
Cash
€9,575
2024 · €485,403-€475,828
Balance sheet total
€29.6m
2024 · €32.6m-€3.0m
Largest movements
Assets
- Receivables within one year -€1.5m
down €1.5m (-54.7%), from €2.8m to €1.3m
of which Trade receivables: -€970,652
- Cash -€475,828
down €475,828 (-98.0%), from €485,403 to €9,575
mainly Debts after one year (-€3.0m) and Other debts (-€678,744)
- Deferred charges and accrued income -€475,215
down €475,215 (-86.5%), from €549,506 to €74,291
- Financial fixed assets -€344,318
down €344,318 (-1.2%), from €28.5m to €28.2m
of which Affiliated companies: -€343,562
Equity and liabilities
- Debts after one year -€3.0m
down €3.0m (-25.8%), from €11.8m to €8.7m
- Other debts -€678,744
down €678,744 (-100%), from €678,744 to €0
- Trade debts +€467,013
up €467,013 (+51.4%), from €907,856 to €1.4m
Income statement
- Services and other goods +€821,170
up €821,170 (+22.7%), from €3.6m to €4.4m
- Financial income +€419,437
up €419,437 (+50.0%), from €838,750 to €1.3m
- Financial charges +€59,766
up €59,766 (+6.0%), from €998,683 to €1.1m
of which Financial charges: +€59,767
- Turnover -€48,131
down €48,131 (-1.3%), from €3.8m to €3.7m
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.
Result 2024
€352,731
Turnover
-€48,131
Other operating income
-€1,146
Services and other goods
-€821,170
Depreciation
-€3,013
Other operating charges
+€40
Other operating items
+€428,028
Financial income
+€419,437
Financial charges
-€59,766
Result 2025
€267,010
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.0m
Investment
+€522,120
Financing
-€3.0m
Cash 2024
€485,403
From operations (derived)
+€2.0m
Net result for the year
+€267,010
Depreciation
+€5,875
Receivables within one year
+€1.5m
Deferred charges and accrued income
+€475,215
Trade debts
+€467,013
Tax, wage and social debts
-€15,278
Other debts
-€678,744
Investment (derived)
+€522,120
Investment in fixed assets (net)
+€522,120
Financing
-€3.0m
Debts after one year
-€3.0m
Cash 2025
€9,575
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,556,754 | €29,556,045 | -€3.0m | -9.2% |
| Formation expenses | 20 | €9,523 | €7,211 | -€2,312 | -24.3% |
| Fixed assets | 21/28 | €28,728,719 | €28,203,036 | -€525,683 | -1.8% |
| Intangible fixed assets | 21 | - | €33,635 | +€33,635 | |
| Tangible fixed assets | 22/27 | €215,000 | €0 | -€215,000 | -100% |
| Assets under construction and advance payments | 27 | €215,000 | €0 | -€215,000 | -100% |
| Financial fixed assets | 28 | €28,513,719 | €28,169,402 | -€344,318 | -1.2% |
| Affiliated companies | 280/1 | €28,486,960 | €28,143,398 | -€343,562 | -1.2% |
| Participating interests | 280 | €28,486,960 | €28,143,398 | -€343,562 | -1.2% |
| Companies linked by participating interests | 282/3 | €10,242 | €10,242 | = | 0.0% |
| Participating interests | 282 | €10,242 | €10,242 | = | 0.0% |
| Other financial fixed assets | 284/8 | €16,517 | €15,761 | -€756 | -4.6% |
| Amounts receivable and cash guarantees | 285/8 | €16,517 | €15,761 | -€756 | -4.6% |
| Current assets | 29/58 | €3,818,512 | €1,345,798 | -€2.5m | -64.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,783,603 | €1,261,932 | -€1.5m | -54.7% |
| Trade receivables | 40 | €1,896,609 | €925,957 | -€970,652 | -51.2% |
| Other amounts receivable | 41 | €886,994 | €335,975 | -€551,019 | -62.1% |
| Cash at bank and in hand | 54/58 | €485,403 | €9,575 | -€475,828 | -98.0% |
| Deferred charges and accrued income | 490/1 | €549,506 | €74,291 | -€475,215 | -86.5% |
| Total equity and liabilities | 10/49 | €32,556,754 | €29,556,045 | -€3.0m | -9.2% |
| Equity | 10/15 | €18,751,517 | €19,018,527 | +€267,010 | +1.4% |
| Contributions | 10/11 | €9,000,000 | €9,000,000 | = | 0.0% |
| Capital | 10 | €9,000,000 | €9,000,000 | = | 0.0% |
| Issued capital | 100 | €9,000,000 | €9,000,000 | = | 0.0% |
| Reserves | 13 | €769,210 | €782,561 | +€13,351 | +1.7% |
| Non-distributable reserves | 130/1 | €769,210 | €782,561 | +€13,351 | +1.7% |
| Legal reserve | 130 | €769,210 | €782,561 | +€13,351 | +1.7% |
| Profit (loss) carried forward | 14 | €8,982,306 | €9,235,966 | +€253,660 | +2.8% |
| Amounts payable | 17/49 | €13,805,237 | €10,537,519 | -€3.3m | -23.7% |
| Amounts payable after more than one year | 17 | €11,774,789 | €8,734,078 | -€3.0m | -25.8% |
| Financial debts | 170/4 | €11,774,789 | €8,734,078 | -€3.0m | -25.8% |
| Subordinated loans | 170 | €8,315,849 | €8,591,221 | +€275,372 | +3.3% |
| Credit institutions | 173 | €428,571 | €142,857 | -€285,714 | -66.7% |
| Other loans | 174 | €3,030,368 | €0 | -€3.0m | -100% |
| Amounts payable within one year | 42/48 | €2,030,448 | €1,803,440 | -€227,008 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €428,571 | €428,571 | = | 0.0% |
| Trade debts | 44 | €907,856 | €1,374,869 | +€467,013 | +51.4% |
| Suppliers | 440/4 | €907,856 | €1,374,869 | +€467,013 | +51.4% |
| Taxes, remuneration and social security | 45 | €15,278 | €0 | -€15,278 | -100% |
| Taxes | 450/3 | €15,278 | €0 | -€15,278 | -100% |
| Other amounts payable | 47/48 | €678,744 | €0 | -€678,744 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €4,141,448 | €4,718,875 | +€577,427 | +13.9% |
| Turnover | 70 | €3,775,865 | €3,727,734 | -€48,131 | -1.3% |
| Other operating income | 74 | €365,583 | €364,438 | -€1,146 | -0.3% |
| Non-recurring operating income | 76A | - | €626,704 | +€626,704 | |
| Operating charges | 60/66A | €3,628,783 | €4,651,602 | +€1.0m | +28.2% |
| Services and other goods | 61 | €3,614,021 | €4,435,192 | +€821,170 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,862 | €5,875 | +€3,013 | +105% |
| Other operating charges | 640/8 | €11,901 | €11,860 | -€40 | -0.3% |
| Non-recurring operating charges | 66A | €0 | €198,676 | +€198,676 | |
| Operating profit (loss) | 9901 | €512,664 | €67,273 | -€445,392 | -86.9% |
| Financial income | 75/76B | €838,750 | €1,258,187 | +€419,437 | +50.0% |
| Recurring financial income | 75 | €838,750 | €1,258,187 | +€419,437 | +50.0% |
| Income from financial fixed assets | 750 | €838,750 | €836,458 | -€2,292 | -0.3% |
| Income from current assets | 751 | €0 | €421,394 | +€421,394 | |
| Other financial income | 752/9 | - | €335 | +€335 | |
| Financial charges | 65/66B | €998,683 | €1,058,450 | +€59,766 | +6.0% |
| Recurring financial charges | 65 | €998,682 | €1,058,450 | +€59,767 | +6.0% |
| Debt charges | 650 | €997,198 | €1,055,115 | +€57,916 | +5.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €1,484 | €3,335 | +€1,851 | +125% |
| Non-recurring financial charges | 66B | €1 | €0 | -€1 | -100% |
| Profit (loss) for the period before taxes | 9903 | €352,731 | €267,010 | -€85,721 | -24.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Taxes | 670/3 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €352,731 | €267,010 | -€85,721 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €352,731 | €267,010 | -€85,721 | -24.3% |
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.