ERIK BEERTEN: 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.
What changed
ERIK BEERTEN
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,536
2024 · €33,938-€402
Equity
€392,225
2024 · €359,519+€32,706
Cash
€12,870
2024 · €16,242-€3,372
Balance sheet total
€407,795
2024 · €373,880+€33,915
Largest movements
Assets
- Current investments +€41,999
up €41,999 (+13.5%), from €310,999 to €352,998
Equity and liabilities
- Reserves +€32,670
up €32,670 (+9.4%), from €346,960 to €379,630
Income statement
- Gross operating margin -€4,645
down €4,645 (-9.1%), from €51,240 to €46,595
- Financial income +€4,474
up €4,474 (+80.8%), from €5,539 to €10,013
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.
Result 2024
€33,938
Gross operating margin
-€4,645
Depreciation
-€500
Other operating charges
-€18
Financial income
+€4,474
Financial charges
+€15
Taxes
+€272
Result 2025
€33,536
raises the resultlowers the result
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.
From operations
+€42,899
Investment
-€45,441
Financing
-€830
Cash 2024
€16,242
From operations (derived)
+€42,899
Net result for the year
+€33,536
Depreciation
+€5,028
Receivables within one year
+€3,095
Smaller working-capital items
+€38
Trade debts
+€3,361
Tax, wage and social debts
-€1,428
Other debts
-€731
Investment (derived)
-€45,441
Investment in fixed assets (net)
-€3,442
Current investments
-€41,999
Financing
-€830
Contributions, distributions and other
-€830
Cash 2025
€12,870
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €373,880 | €407,795 | +€33,915 | +9.1% |
| Fixed assets | 21/28 | €16,484 | €14,898 | -€1,586 | -9.6% |
| Tangible fixed assets | 22/27 | €16,484 | €14,898 | -€1,586 | -9.6% |
| Land and buildings | 22 | €2,710 | €1,867 | -€843 | -31.1% |
| Furniture and vehicles | 24 | €13,774 | €13,031 | -€743 | -5.4% |
| Current assets | 29/58 | €357,396 | €392,897 | +€35,501 | +9.9% |
| Amounts receivable within one year | 40/41 | €29,625 | €26,530 | -€3,095 | -10.4% |
| Trade receivables | 40 | €29,625 | €22,759 | -€6,866 | -23.2% |
| Other amounts receivable | 41 | - | €3,771 | +€3,771 | |
| Current investments | 50/53 | €310,999 | €352,998 | +€41,999 | +13.5% |
| Cash at bank and in hand | 54/58 | €16,242 | €12,870 | -€3,372 | -20.8% |
| Deferred charges and accrued income | 490/1 | €530 | €499 | -€31 | -5.8% |
| Total equity and liabilities | 10/49 | €373,880 | €407,795 | +€33,915 | +9.1% |
| Equity | 10/15 | €359,519 | €392,225 | +€32,706 | +9.1% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €346,960 | €379,630 | +€32,670 | +9.4% |
| Distributable reserves | 133 | €346,960 | €379,630 | +€32,670 | +9.4% |
| Profit (loss) carried forward | 14 | €151 | €187 | +€36 | +23.8% |
| Amounts payable | 17/49 | €14,361 | €15,570 | +€1,209 | +8.4% |
| Amounts payable within one year | 42/48 | €11,716 | €12,918 | +€1,202 | +10.3% |
| Trade debts | 44 | €5,726 | €9,087 | +€3,361 | +58.7% |
| Suppliers | 440/4 | €5,726 | €9,087 | +€3,361 | +58.7% |
| Taxes, remuneration and social security | 45 | €4,990 | €3,562 | -€1,428 | -28.6% |
| Taxes | 450/3 | €4,990 | €3,562 | -€1,428 | -28.6% |
| Other amounts payable | 47/48 | €1,000 | €269 | -€731 | -73.1% |
| Accrued charges and deferred income | 492/3 | €2,645 | €2,652 | +€7 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,528 | €5,028 | +€500 | +11.0% |
| Other operating charges | 640/8 | €1,221 | €1,239 | +€18 | +1.5% |
| Gross operating margin | 9900 | €51,240 | €46,595 | -€4,645 | -9.1% |
| Operating profit (loss) | 9901 | €45,491 | €40,328 | -€5,163 | -11.3% |
| Financial income | 75/76B | €5,539 | €10,013 | +€4,474 | +80.8% |
| Recurring financial income | 75 | €5,539 | €10,013 | +€4,474 | +80.8% |
| Financial charges | 65/66B | €87 | €72 | -€15 | -17.2% |
| Recurring financial charges | 65 | €87 | €72 | -€15 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €50,943 | €50,269 | -€674 | -1.3% |
| Income taxes | 67/77 | €17,005 | €16,733 | -€272 | -1.6% |
| Profit (loss) for the period | 9904 | €33,938 | €33,536 | -€402 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,938 | €33,536 | -€402 | -1.2% |
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 24 October 2026 via checked.be.