L'ETABLI: 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.
L'ETABLI
Largest movements
- Cash +€5,026
up €5,026 (+14.2%), from €35,316 to €40,342
mainly Depreciation (+€2,716) and Net result for the year (+€2,713)
- Tangible fixed assets -€2,716
down €2,716 (-22.1%), from €12,278 to €9,562
- Receivables within one year -€1,383
down €1,383 (-70.3%), from €1,966 to €584
of which Trade receivables: -€1,829
- Debts after one year -€3,955
down €3,955 (-11.5%), from €34,287 to €30,332
- Reserves +€3,335
new in 2025: €3,335
- Tax, wage and social debts +€2,157
up €2,157 (+30.8%), from €7,007 to €9,164
- Profit (loss) carried forward -€622
no longer reported in 2025 (was €622)
- Gross operating margin +€4,496
up €4,496 (+52.3%), from €8,592 to €13,089
- Other operating charges -€1,454
down €1,454 (-24.5%), from €5,939 to €4,485
- Depreciation -€914
down €914 (-25.2%), from €3,631 to €2,716
- Taxes -€488
down €488 (-20.9%), from €2,336 to €1,847
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 | €61,382 | €61,548 | +€166 | +0.3% |
| Fixed assets | 21/28 | €12,278 | €9,562 | -€2,716 | -22.1% |
| Tangible fixed assets | 22/27 | €12,278 | €9,562 | -€2,716 | -22.1% |
| Plant, machinery and equipment | 23 | €12,278 | €9,562 | -€2,716 | -22.1% |
| Current assets | 29/58 | €49,104 | €51,986 | +€2,883 | +5.9% |
| Stocks and contracts in progress | 3 | €10,576 | €10,408 | -€168 | -1.6% |
| Stocks | 30/36 | €10,576 | €10,408 | -€168 | -1.6% |
| Amounts receivable within one year | 40/41 | €1,966 | €584 | -€1,383 | -70.3% |
| Trade receivables | 40 | €1,966 | €138 | -€1,829 | -93.0% |
| Other amounts receivable | 41 | - | €446 | +€446 | |
| Cash at bank and in hand | 54/58 | €35,316 | €40,342 | +€5,026 | +14.2% |
| Deferred charges and accrued income | 490/1 | €1,245 | €653 | -€592 | -47.5% |
| Total equity and liabilities | 10/49 | €61,382 | €61,548 | +€166 | +0.3% |
| Equity | 10/15 | €19,222 | €21,935 | +€2,713 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €3,335 | +€3,335 | |
| Distributable reserves | 133 | - | €3,335 | +€3,335 | |
| Profit (loss) carried forward | 14 | €622 | - | -€622 | |
| Amounts payable | 17/49 | €42,160 | €39,613 | -€2,547 | -6.0% |
| Amounts payable after more than one year | 17 | €34,287 | €30,332 | -€3,955 | -11.5% |
| Other amounts payable | 178/9 | €34,287 | €30,332 | -€3,955 | -11.5% |
| Amounts payable within one year | 42/48 | €7,558 | €9,281 | +€1,723 | +22.8% |
| Trade debts | 44 | €551 | €117 | -€435 | -78.8% |
| Suppliers | 440/4 | €551 | €117 | -€435 | -78.8% |
| Taxes, remuneration and social security | 45 | €7,007 | €9,164 | +€2,157 | +30.8% |
| Taxes | 450/3 | €7,007 | €9,164 | +€2,157 | +30.8% |
| Accrued charges and deferred income | 492/3 | €315 | - | -€315 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,631 | €2,716 | -€914 | -25.2% |
| Other operating charges | 640/8 | €5,939 | €4,485 | -€1,454 | -24.5% |
| Gross operating margin | 9900 | €8,592 | €13,089 | +€4,496 | +52.3% |
| Operating profit (loss) | 9901 | -€977 | €5,887 | +€6,865 | |
| Financial charges | 65/66B | €1,299 | €1,327 | +€28 | +2.2% |
| Recurring financial charges | 65 | €1,299 | €1,327 | +€28 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,276 | €4,560 | +€6,836 | |
| Income taxes | 67/77 | €2,336 | €1,847 | -€488 | -20.9% |
| Profit (loss) for the period | 9904 | -€4,612 | €2,713 | +€7,325 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,612 | €2,713 | +€7,325 |
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 20 October 2026 via checked.be.