Eric Thissen: 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.
Eric Thissen
Largest movements
- Cash -€410,017
down €410,017 (-74.0%), from €553,974 to €143,957
mainly Debts after one year (-€299,572) and Receivables within one year (-€260,000)
- Receivables within one year +€260,000
up €260,000 (+1779.5%), from €14,611 to €274,611
- Tangible fixed assets -€28,067
down €28,067 (-100.0%), from €28,067 to €0
- Debts after one year -€299,572
down €299,572 (-61.9%), from €483,969 to €184,397
of which Other amounts payable: -€261,658
- Reserves +€148,545
up €148,545 (+21.1%), from €704,455 to €853,000
- Tax, wage and social debts -€47,110
down €47,110 (-44.8%), from €105,071 to €57,961
of which Taxes: -€43,910
- Other debts +€45,661
new in 2025: €45,661
- Current portion of long-term debt -€26,487
down €26,487 (-37.9%), from €69,799 to €43,312
- Gross operating margin +€36,190
up €36,190 (+12.4%), from €291,783 to €327,973
- Taxes +€17,795
up €17,795 (+26.5%), from €67,274 to €85,069
- Financial charges -€13,735
down €13,735 (-22.3%), from €61,459 to €47,724
- Depreciation -€8,963
down €8,963 (-100.0%), from €8,963 to €0
- Financial income +€3,741
up €3,741 (+219.3%), from €1,706 to €5,447
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 | €1,407,651 | €1,229,593 | -€178,059 | -12.6% |
| Fixed assets | 21/28 | €839,067 | €811,000 | -€28,067 | -3.3% |
| Tangible fixed assets | 22/27 | €28,067 | €0 | -€28,067 | -100.0% |
| Furniture and vehicles | 24 | €28,067 | €0 | -€28,067 | -100.0% |
| Financial fixed assets | 28 | €811,000 | €811,000 | = | 0.0% |
| Current assets | 29/58 | €568,585 | €418,593 | -€149,992 | -26.4% |
| Amounts receivable within one year | 40/41 | €14,611 | €274,611 | +€260,000 | +1779.5% |
| Trade receivables | 40 | €14,611 | €274,611 | +€260,000 | +1779.5% |
| Cash at bank and in hand | 54/58 | €553,974 | €143,957 | -€410,017 | -74.0% |
| Deferred charges and accrued income | 490/1 | - | €25 | +€25 | |
| Total equity and liabilities | 10/49 | €1,407,651 | €1,229,593 | -€178,059 | -12.6% |
| Equity | 10/15 | €748,585 | €898,120 | +€149,535 | +20.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €704,455 | €853,000 | +€148,545 | +21.1% |
| Distributable reserves | 133 | €704,455 | €853,000 | +€148,545 | +21.1% |
| Profit (loss) carried forward | 14 | €4,131 | €5,120 | +€990 | +24.0% |
| Amounts payable | 17/49 | €659,066 | €331,472 | -€327,594 | -49.7% |
| Amounts payable after more than one year | 17 | €483,969 | €184,397 | -€299,572 | -61.9% |
| Financial debts | 170/4 | €37,914 | €0 | -€37,914 | -100.0% |
| Other amounts payable | 178/9 | €446,054 | €184,397 | -€261,658 | -58.7% |
| Amounts payable within one year | 42/48 | €175,003 | €146,997 | -€28,006 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €69,799 | €43,312 | -€26,487 | -37.9% |
| Trade debts | 44 | €134 | €63 | -€71 | -52.7% |
| Suppliers | 440/4 | €134 | €63 | -€71 | -52.7% |
| Taxes, remuneration and social security | 45 | €105,071 | €57,961 | -€47,110 | -44.8% |
| Taxes | 450/3 | €101,871 | €57,961 | -€43,910 | -43.1% |
| Remuneration and social security | 454/9 | €3,200 | €0 | -€3,200 | -100.0% |
| Other amounts payable | 47/48 | - | €45,661 | +€45,661 | |
| Accrued charges and deferred income | 492/3 | €94 | €79 | -€15 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,963 | €0 | -€8,963 | -100.0% |
| Other operating charges | 640/8 | €1,202 | €1,124 | -€78 | -6.5% |
| Non-recurring operating charges | 66A | - | €4,513 | +€4,513 | |
| Gross operating margin | 9900 | €291,783 | €327,973 | +€36,190 | +12.4% |
| Operating profit (loss) | 9901 | €281,618 | €322,336 | +€40,718 | +14.5% |
| Financial income | 75/76B | €1,706 | €5,447 | +€3,741 | +219.3% |
| Recurring financial income | 75 | €1,706 | €5,447 | +€3,741 | +219.3% |
| Financial charges | 65/66B | €61,459 | €47,724 | -€13,735 | -22.3% |
| Recurring financial charges | 65 | €61,459 | €47,724 | -€13,735 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €221,865 | €280,059 | +€58,193 | +26.2% |
| Income taxes | 67/77 | €67,274 | €85,069 | +€17,795 | +26.5% |
| Profit (loss) for the period | 9904 | €154,592 | €194,990 | +€40,398 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €154,592 | €194,990 | +€40,398 | +26.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.