L'ETOFFE: 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'ETOFFE
Largest movements
- Receivables within one year +€19,459
up €19,459 (+57.8%), from €33,673 to €53,132
of which Trade receivables: +€14,881
- Cash -€15,841
down €15,841 (-43.0%), from €36,848 to €21,007
mainly Receivables within one year (-€19,459) and Trade debts (-€11,042)
- Tangible fixed assets -€3,031
down €3,031 (-34.3%), from €8,839 to €5,808
of which Plant, machinery and equipment: -€2,025
- Profit (loss) carried forward +€17,163
up €17,163 (+81.7%), from €21,005 to €38,168
- Trade debts -€11,042
down €11,042 (-74.5%), from €14,818 to €3,776
- Other debts -€9,545
down €9,545 (-37.8%), from €25,228 to €15,683
- Tax, wage and social debts +€4,400
up €4,400, from €0 to €4,400
of which Taxes: +€4,400
- Gross operating margin +€23,847
up €23,847 (+1,069%), from €2,231 to €26,078
- Taxes -€1,996
down €1,996 (-31.2%), from €6,396 to €4,400
- Financial charges -€512
down €512 (-44.7%), from €1,146 to €634
- Other operating charges +€349
up €349 (+69.6%), from €501 to €850
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 | €80,043 | €80,619 | +€576 | +0.7% |
| Fixed assets | 21/28 | €8,839 | €5,808 | -€3,031 | -34.3% |
| Tangible fixed assets | 22/27 | €8,839 | €5,808 | -€3,031 | -34.3% |
| Plant, machinery and equipment | 23 | €6,114 | €4,089 | -€2,025 | -33.1% |
| Furniture and vehicles | 24 | €2,725 | €1,719 | -€1,006 | -36.9% |
| Current assets | 29/58 | €71,204 | €74,811 | +€3,607 | +5.1% |
| Amounts receivable within one year | 40/41 | €33,673 | €53,132 | +€19,459 | +57.8% |
| Trade receivables | 40 | €5,317 | €20,198 | +€14,881 | +280% |
| Other amounts receivable | 41 | €28,356 | €32,934 | +€4,578 | +16.1% |
| Cash at bank and in hand | 54/58 | €36,848 | €21,007 | -€15,841 | -43.0% |
| Deferred charges and accrued income | 490/1 | €683 | €672 | -€11 | -1.6% |
| Total equity and liabilities | 10/49 | €80,043 | €80,619 | +€576 | +0.7% |
| Equity | 10/15 | €39,597 | €56,760 | +€17,163 | +43.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,005 | €38,168 | +€17,163 | +81.7% |
| Amounts payable | 17/49 | €40,446 | €23,859 | -€16,587 | -41.0% |
| Amounts payable within one year | 42/48 | €40,046 | €23,859 | -€16,187 | -40.4% |
| Trade debts | 44 | €14,818 | €3,776 | -€11,042 | -74.5% |
| Suppliers | 440/4 | €14,818 | €3,776 | -€11,042 | -74.5% |
| Taxes, remuneration and social security | 45 | €0 | €4,400 | +€4,400 | |
| Taxes | 450/3 | €0 | €4,400 | +€4,400 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €25,228 | €15,683 | -€9,545 | -37.8% |
| Accrued charges and deferred income | 492/3 | €400 | €0 | -€400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,042 | €3,031 | -€10 | -0.3% |
| Other operating charges | 640/8 | €501 | €850 | +€349 | +69.6% |
| Gross operating margin | 9900 | €2,231 | €26,078 | +€23,847 | +1,069% |
| Operating profit (loss) | 9901 | -€1,312 | €22,197 | +€23,509 | |
| Financial charges | 65/66B | €1,146 | €634 | -€512 | -44.7% |
| Recurring financial charges | 65 | €1,146 | €634 | -€512 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,458 | €21,563 | +€24,020 | |
| Income taxes | 67/77 | €6,396 | €4,400 | -€1,996 | -31.2% |
| Profit (loss) for the period | 9904 | -€8,854 | €17,163 | +€26,017 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,854 | €17,163 | +€26,017 |
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.