ANTHONY VERWILST: 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 VERWILST
Largest movements
- Tangible fixed assets -€10,695
down €10,695 (-27.5%), from €38,889 to €28,194
- Cash +€10,221
up €10,221 (+33.7%), from €30,318 to €40,539
mainly Net result for the year (+€44,576) and Accrued charges and deferred income (+€23,502)
- Debts after one year -€75,513
down €75,513 (-15.1%), from €500,795 to €425,281
- Reserves +€44,576
up €44,576 (+54.3%), from €82,149 to €126,725
- Accrued charges and deferred income +€23,502
up €23,502 (+29,198%), from €80 to €23,582
- Tax, wage and social debts +€10,177
up €10,177 (+60.1%), from €16,927 to €27,105
- Gross operating margin +€48,433
up €48,433 (+71.4%), from €67,845 to €116,278
- Financial charges +€42,128
up €42,128 (+2,751%), from €1,532 to €43,659
- Taxes +€1,257
up €1,257 (+9.0%), from €13,908 to €15,165
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 | €754,228 | €755,245 | +€1,017 | +0.1% |
| Fixed assets | 21/28 | €708,889 | €698,194 | -€10,695 | -1.5% |
| Tangible fixed assets | 22/27 | €38,889 | €28,194 | -€10,695 | -27.5% |
| Furniture and vehicles | 24 | €38,889 | €28,194 | -€10,695 | -27.5% |
| Financial fixed assets | 28 | €670,000 | €670,000 | = | 0.0% |
| Current assets | 29/58 | €45,339 | €57,051 | +€11,711 | +25.8% |
| Amounts receivable within one year | 40/41 | €14,478 | €16,071 | +€1,593 | +11.0% |
| Trade receivables | 40 | €14,478 | €16,071 | +€1,593 | +11.0% |
| Cash at bank and in hand | 54/58 | €30,318 | €40,539 | +€10,221 | +33.7% |
| Deferred charges and accrued income | 490/1 | €543 | €440 | -€103 | -18.9% |
| Total equity and liabilities | 10/49 | €754,228 | €755,245 | +€1,017 | +0.1% |
| Equity | 10/15 | €85,149 | €129,725 | +€44,576 | +52.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €82,149 | €126,725 | +€44,576 | +54.3% |
| Distributable reserves | 133 | €82,149 | €126,725 | +€44,576 | +54.3% |
| Amounts payable | 17/49 | €669,079 | €625,520 | -€43,560 | -6.5% |
| Amounts payable after more than one year | 17 | €500,795 | €425,281 | -€75,513 | -15.1% |
| Financial debts | 170/4 | €500,795 | €425,281 | -€75,513 | -15.1% |
| Amounts payable within one year | 42/48 | €168,204 | €176,656 | +€8,452 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €75,030 | €75,513 | +€483 | +0.6% |
| Trade debts | 44 | €1,786 | €840 | -€946 | -53.0% |
| Suppliers | 440/4 | €1,786 | €840 | -€946 | -53.0% |
| Taxes, remuneration and social security | 45 | €16,927 | €27,105 | +€10,177 | +60.1% |
| Taxes | 450/3 | €16,927 | €27,105 | +€10,177 | +60.1% |
| Other amounts payable | 47/48 | €74,460 | €73,198 | -€1,262 | -1.7% |
| Accrued charges and deferred income | 492/3 | €80 | €23,582 | +€23,502 | +29,198% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,968 | €12,246 | +€278 | +2.3% |
| Other operating charges | 640/8 | €719 | €632 | -€87 | -12.2% |
| Gross operating margin | 9900 | €67,845 | €116,278 | +€48,433 | +71.4% |
| Operating profit (loss) | 9901 | €55,157 | €103,400 | +€48,243 | +87.5% |
| Financial charges | 65/66B | €1,532 | €43,659 | +€42,128 | +2,751% |
| Recurring financial charges | 65 | €1,532 | €43,659 | +€42,128 | +2,751% |
| Profit (loss) for the period before taxes | 9903 | €53,626 | €59,741 | +€6,115 | +11.4% |
| Income taxes | 67/77 | €13,908 | €15,165 | +€1,257 | +9.0% |
| Profit (loss) for the period | 9904 | €39,718 | €44,576 | +€4,858 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,718 | €44,576 | +€4,858 | +12.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.