ANTHONY VERSLUYS: what changed
Two fiscal 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 VERSLUYS
Largest movements
- Tangible fixed assets +€15,424
up €15,424 (+106.4%), from €14,498 to €29,922
of which Furniture and vehicles: +€15,513
- Cash -€9,220
down €9,220 (-81.8%), from €11,273 to €2,052
- Receivables within one year +€4,366
up €4,366 (+24.9%), from €17,555 to €21,921
of which Trade receivables: +€5,431
- Debts after one year +€16,003
new in 2025: €16,003
- Tax, wage and social debts -€9,550
down €9,550 (-94.0%), from €10,165 to €614
- Trade debts +€5,497
up €5,497 (+307.0%), from €1,791 to €7,288
- Profit (loss) carried forward -€1,381
down €1,381 (-5.7%), from €24,345 to €22,965
- Gross operating margin -€8,934
down €8,934 (-64.2%), from €13,922 to €4,988
- Taxes +€3,341
up €3,341 (+221.6%), from €1,508 to €4,850
- Depreciation +€2,492
up €2,492 (+32.0%), from €7,788 to €10,280
- Other operating charges -€1,710
down €1,710 (-67.7%), from €2,526 to €816
From the 2023 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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,326 | €53,896 | +€10,570 | +24.4% |
| Fixed assets | 21/28 | €14,498 | €29,922 | +€15,424 | +106.4% |
| Tangible fixed assets | 22/27 | €14,498 | €29,922 | +€15,424 | +106.4% |
| Plant, machinery and equipment | 23 | - | €413 | +€413 | |
| Furniture and vehicles | 24 | €12,126 | €27,639 | +€15,513 | +127.9% |
| Other tangible fixed assets | 26 | €2,372 | €1,870 | -€502 | -21.2% |
| Current assets | 29/58 | €28,828 | €23,973 | -€4,854 | -16.8% |
| Amounts receivable within one year | 40/41 | €17,555 | €21,921 | +€4,366 | +24.9% |
| Trade receivables | 40 | €16,373 | €21,804 | +€5,431 | +33.2% |
| Other amounts receivable | 41 | €1,182 | €116 | -€1,065 | -90.1% |
| Cash at bank and in hand | 54/58 | €11,273 | €2,052 | -€9,220 | -81.8% |
| Total equity and liabilities | 10/49 | €43,326 | €53,896 | +€10,570 | +24.4% |
| Equity | 10/15 | €31,371 | €29,990 | -€1,381 | -4.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Capital | 10 | €6,500 | €6,500 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,100 | €12,100 | = | 0.0% |
| Reserves | 13 | €526 | €526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €526 | €526 | = | 0.0% |
| Legal reserve | 130 | €526 | €526 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,345 | €22,965 | -€1,381 | -5.7% |
| Amounts payable | 17/49 | €11,955 | €23,905 | +€11,950 | +100.0% |
| Amounts payable after more than one year | 17 | - | €16,003 | +€16,003 | |
| Financial debts | 170/4 | - | €16,003 | +€16,003 | |
| Amounts payable within one year | 42/48 | €11,955 | €7,902 | -€4,053 | -33.9% |
| Trade debts | 44 | €1,791 | €7,288 | +€5,497 | +307.0% |
| Suppliers | 440/4 | €1,791 | €7,288 | +€5,497 | +307.0% |
| Taxes, remuneration and social security | 45 | €10,165 | €614 | -€9,550 | -94.0% |
| Taxes | 450/3 | €10,165 | €614 | -€9,550 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,788 | €10,280 | +€2,492 | +32.0% |
| Other operating charges | 640/8 | €2,526 | €816 | -€1,710 | -67.7% |
| Gross operating margin | 9900 | €13,922 | €4,988 | -€8,934 | -64.2% |
| Operating profit (loss) | 9901 | €3,609 | -€6,107 | -€9,716 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €248 | €175 | -€73 | -29.4% |
| Recurring financial charges | 65 | €248 | €175 | -€73 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €3,362 | -€6,282 | -€9,644 | |
| Income taxes | 67/77 | €1,508 | €4,850 | +€3,341 | +221.6% |
| Profit (loss) for the period | 9904 | €1,854 | -€11,132 | -€12,985 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,854 | -€11,132 | -€12,985 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.