Eric STRAUVEN: 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.
Eric STRAUVEN
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€129,328
up €129,328 (+147.9%), from €87,463 to €216,792
mainly Current investments (+€250,000) and Other debts (+€50,350)
- Tangible fixed assets -€14,696
down €14,696 (-12.4%), from €118,074 to €103,377
of which Furniture and vehicles: -€20,315
- Receivables within one year +€9,314
up €9,314 (+65.4%), from €14,236 to €23,549
of which Other amounts receivable: +€8,199
- Receivables after one year -€8,547
down €8,547 (-11.6%), from €73,409 to €64,862
- Reserves -€100,700
down €100,700 (-19.2%), from €525,657 to €424,957
- Profit (loss) carried forward -€76,813
new in 2025: -€76,813
- Other debts +€50,350
new in 2025: €50,350
- Current portion of long-term debt -€8,181
no longer reported in 2025 (was €8,181)
- Gross operating margin -€70,160
down €70,160, from €17,718 to -€52,442
- Financial income -€8,879
down €8,879 (-58.2%), from €15,263 to €6,384
- Depreciation +€1,337
up €1,337 (+5.6%), from €23,908 to €25,245
- Taxes -€1,107
down €1,107 (-28.8%), from €3,847 to €2,740
- Financial charges -€1,056
down €1,056 (-84.7%), from €1,247 to €190
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.
Cash bridge derived
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 | €544,169 | €409,609 | -€134,560 | -24.7% |
| Fixed assets | 21/28 | €118,074 | €103,377 | -€14,696 | -12.4% |
| Tangible fixed assets | 22/27 | €118,074 | €103,377 | -€14,696 | -12.4% |
| Land and buildings | 22 | €38,970 | €44,733 | +€5,763 | +14.8% |
| Plant, machinery and equipment | 23 | €5,668 | €5,523 | -€144 | -2.5% |
| Furniture and vehicles | 24 | €73,436 | €53,121 | -€20,315 | -27.7% |
| Current assets | 29/58 | €426,096 | €306,232 | -€119,864 | -28.1% |
| Amounts receivable after more than one year | 29 | €73,409 | €64,862 | -€8,547 | -11.6% |
| Other amounts receivable | 291 | €73,409 | €64,862 | -€8,547 | -11.6% |
| Amounts receivable within one year | 40/41 | €14,236 | €23,549 | +€9,314 | +65.4% |
| Trade receivables | 40 | €2,074 | €3,189 | +€1,115 | +53.7% |
| Other amounts receivable | 41 | €12,161 | €20,360 | +€8,199 | +67.4% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €87,463 | €216,792 | +€129,328 | +147.9% |
| Deferred charges and accrued income | 490/1 | €987 | €1,029 | +€41 | +4.2% |
| Total equity and liabilities | 10/49 | €544,169 | €409,609 | -€134,560 | -24.7% |
| Equity | 10/15 | €531,854 | €354,342 | -€177,513 | -33.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €525,657 | €424,957 | -€100,700 | -19.2% |
| Distributable reserves | 133 | €525,657 | €424,957 | -€100,700 | -19.2% |
| Profit (loss) carried forward | 14 | - | -€76,813 | -€76,813 | |
| Amounts payable | 17/49 | €12,315 | €55,267 | +€42,952 | +348.8% |
| Amounts payable within one year | 42/48 | €12,315 | €55,267 | +€42,952 | +348.8% |
| Current portion of amounts payable after more than one year | 42 | €8,181 | - | -€8,181 | |
| Trade debts | 44 | €2,158 | €291 | -€1,867 | -86.5% |
| Suppliers | 440/4 | €2,158 | €291 | -€1,867 | -86.5% |
| Taxes, remuneration and social security | 45 | €1,976 | €4,626 | +€2,650 | +134.1% |
| Remuneration and social security | 454/9 | €1,976 | €4,626 | +€2,650 | +134.1% |
| Other amounts payable | 47/48 | - | €50,350 | +€50,350 | |
| Non-recurring operating income | 76A | €35,658 | - | -€35,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,908 | €25,245 | +€1,337 | +5.6% |
| Other operating charges | 640/8 | €3,553 | €2,579 | -€974 | -27.4% |
| Gross operating margin | 9900 | €17,718 | -€52,442 | -€70,160 | |
| Operating profit (loss) | 9901 | -€9,743 | -€80,267 | -€70,524 | -723.8% |
| Financial income | 75/76B | €15,263 | €6,384 | -€8,879 | -58.2% |
| Recurring financial income | 75 | €15,263 | €6,384 | -€8,879 | -58.2% |
| Financial charges | 65/66B | €1,247 | €190 | -€1,056 | -84.7% |
| Recurring financial charges | 65 | €1,247 | €190 | -€1,056 | -84.7% |
| Profit (loss) for the period before taxes | 9903 | €4,273 | -€74,073 | -€78,346 | |
| Income taxes | 67/77 | €3,847 | €2,740 | -€1,107 | -28.8% |
| Profit (loss) for the period | 9904 | €426 | -€76,813 | -€77,238 | |
| Profit (loss) for the period to be appropriated | 9905 | €426 | -€76,813 | -€77,238 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 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.