Anthony Geysen: 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.
Anthony Geysen
Largest movements
- Stocks and contracts +€59,000
up €59,000 (+79.7%), from €74,000 to €133,000
- Receivables within one year +€50,732
up €50,732 (+483%), from €10,504 to €61,235
of which Trade receivables: +€42,950
- Tangible fixed assets +€23,576
up €23,576 (+2.1%), from €1.1m to €1.1m
of which Leasing and similar rights: +€61,990
- Reserves +€253,745
up €253,745 (+34.6%), from €732,473 to €986,217
of which Distributable reserves: +€253,745
- Other debts -€98,403
down €98,403 (-55.0%), from €178,950 to €80,548
- Debts after one year -€42,009
down €42,009 (-5.4%), from €780,070 to €738,061
- Current portion of long-term debt +€33,665
up €33,665 (+48.0%), from €70,128 to €103,794
- Tax, wage and social debts -€25,498
down €25,498 (-58.1%), from €43,854 to €18,356
of which Taxes: -€25,498
- Gross operating margin -€154,163
down €154,163 (-37.0%), from €416,228 to €262,065
- Financial income +€153,946
up €153,946 (+103,326%), from €149 to €154,095
- Other operating charges +€54,503
up €54,503 (+672%), from €8,107 to €62,610
- Financial charges -€17,301
down €17,301 (-46.5%), from €37,208 to €19,906
- Depreciation -€9,176
down €9,176 (-18.0%), from €51,035 to €41,859
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,960,995 | €2,082,531 | +€121,537 | +6.2% |
| Fixed assets | 21/28 | €1,855,523 | €1,879,099 | +€23,576 | +1.3% |
| Tangible fixed assets | 22/27 | €1,106,071 | €1,129,648 | +€23,576 | +2.1% |
| Land and buildings | 22 | €1,076,437 | €1,041,580 | -€34,857 | -3.2% |
| Furniture and vehicles | 24 | €29,634 | €26,077 | -€3,556 | -12.0% |
| Leasing and similar rights | 25 | - | €61,990 | +€61,990 | |
| Financial fixed assets | 28 | €749,452 | €749,452 | = | 0.0% |
| Current assets | 29/58 | €105,472 | €203,432 | +€97,960 | +92.9% |
| Stocks and contracts in progress | 3 | €74,000 | €133,000 | +€59,000 | +79.7% |
| Stocks | 30/36 | €74,000 | €133,000 | +€59,000 | +79.7% |
| Amounts receivable within one year | 40/41 | €10,504 | €61,235 | +€50,732 | +483% |
| Trade receivables | 40 | - | €42,950 | +€42,950 | |
| Other amounts receivable | 41 | €10,504 | €18,285 | +€7,782 | +74.1% |
| Cash at bank and in hand | 54/58 | €8,879 | €1,025 | -€7,854 | -88.5% |
| Deferred charges and accrued income | 490/1 | €12,089 | €8,171 | -€3,917 | -32.4% |
| Total equity and liabilities | 10/49 | €1,960,995 | €2,082,531 | +€121,537 | +6.2% |
| Equity | 10/15 | €857,473 | €1,111,217 | +€253,745 | +29.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €732,473 | €986,217 | +€253,745 | +34.6% |
| Tax-exempt reserves | 132 | €107 | €107 | = | 0.0% |
| Distributable reserves | 133 | €732,366 | €986,110 | +€253,745 | +34.6% |
| Provisions and deferred taxes | 16 | €27,000 | €27,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €27,000 | €27,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €27,000 | €27,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,076,522 | €944,314 | -€132,208 | -12.3% |
| Amounts payable after more than one year | 17 | €780,070 | €738,061 | -€42,009 | -5.4% |
| Financial debts | 170/4 | €780,070 | €738,061 | -€42,009 | -5.4% |
| Amounts payable within one year | 42/48 | €293,937 | €206,000 | -€87,937 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €70,128 | €103,794 | +€33,665 | +48.0% |
| Trade debts | 44 | €1,005 | €3,303 | +€2,298 | +229% |
| Suppliers | 440/4 | €1,005 | €3,303 | +€2,298 | +229% |
| Taxes, remuneration and social security | 45 | €43,854 | €18,356 | -€25,498 | -58.1% |
| Taxes | 450/3 | €42,005 | €16,507 | -€25,498 | -60.7% |
| Remuneration and social security | 454/9 | €1,849 | €1,849 | = | 0.0% |
| Other amounts payable | 47/48 | €178,950 | €80,548 | -€98,403 | -55.0% |
| Accrued charges and deferred income | 492/3 | €2,515 | €253 | -€2,262 | -89.9% |
| Non-recurring operating income | 76A | - | €3,258 | +€3,258 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,035 | €41,859 | -€9,176 | -18.0% |
| Other operating charges | 640/8 | €8,107 | €62,610 | +€54,503 | +672% |
| Non-recurring operating charges | 66A | - | €7,392 | +€7,392 | |
| Gross operating margin | 9900 | €416,228 | €262,065 | -€154,163 | -37.0% |
| Operating profit (loss) | 9901 | €357,086 | €150,204 | -€206,882 | -57.9% |
| Financial income | 75/76B | €149 | €154,095 | +€153,946 | +103,326% |
| Recurring financial income | 75 | €149 | €154,095 | +€153,946 | +103,326% |
| Financial charges | 65/66B | €37,208 | €19,906 | -€17,301 | -46.5% |
| Recurring financial charges | 65 | €37,208 | €19,906 | -€17,301 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | €320,028 | €284,393 | -€35,635 | -11.1% |
| Income taxes | 67/77 | €29,453 | €30,648 | +€1,195 | +4.1% |
| Profit (loss) for the period | 9904 | €290,575 | €253,745 | -€36,831 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €290,575 | €253,745 | -€36,831 | -12.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.