Erjen Anthuenis: 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.
Erjen Anthuenis
Largest movements
- Financial fixed assets +€43,636
new in 2025: €43,636
- Receivables within one year -€15,744
down €15,744 (-30.0%), from €52,545 to €36,801
of which Trade receivables: -€11,495
- Tangible fixed assets -€4,083
down €4,083 (-38.3%), from €10,656 to €6,573
of which Other tangible fixed assets: -€2,768
- Reserves +€52,393
new in 2025: €52,393
- Profit (loss) carried forward -€51,623
down €51,623 (-100%), from €51,623 to €0
- Debts after one year +€28,024
up €28,024, from €0 to €28,024
- Other debts -€4,745
down €4,745 (-86.1%), from €5,511 to €766
- Current portion of long-term debt +€2,065
up €2,065 (+99.7%), from €2,072 to €4,138
- Gross operating margin -€15,515
down €15,515 (-71.3%), from €21,751 to €6,236
- Taxes -€2,866
down €2,866 (-83.7%), from €3,426 to €560
- Depreciation -€306
down €306 (-7.0%), from €4,389 to €4,083
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 | €67,177 | €90,186 | +€23,008 | +34.2% |
| Fixed assets | 21/28 | €10,656 | €50,209 | +€39,553 | +371% |
| Tangible fixed assets | 22/27 | €10,656 | €6,573 | -€4,083 | -38.3% |
| Furniture and vehicles | 24 | €2,811 | €1,496 | -€1,315 | -46.8% |
| Other tangible fixed assets | 26 | €7,845 | €5,077 | -€2,768 | -35.3% |
| Financial fixed assets | 28 | - | €43,636 | +€43,636 | |
| Current assets | 29/58 | €56,522 | €39,977 | -€16,545 | -29.3% |
| Amounts receivable within one year | 40/41 | €52,545 | €36,801 | -€15,744 | -30.0% |
| Trade receivables | 40 | €17,545 | €6,050 | -€11,495 | -65.5% |
| Other amounts receivable | 41 | €35,000 | €30,751 | -€4,249 | -12.1% |
| Cash at bank and in hand | 54/58 | €3,829 | €3,028 | -€801 | -20.9% |
| Deferred charges and accrued income | 490/1 | €148 | €148 | = | 0.0% |
| Total equity and liabilities | 10/49 | €67,177 | €90,186 | +€23,008 | +34.2% |
| Equity | 10/15 | €54,623 | €55,393 | +€769 | +1.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €52,393 | +€52,393 | |
| Distributable reserves | 133 | - | €52,393 | +€52,393 | |
| Profit (loss) carried forward | 14 | €51,623 | €0 | -€51,623 | -100% |
| Amounts payable | 17/49 | €12,554 | €34,793 | +€22,239 | +177% |
| Amounts payable after more than one year | 17 | €0 | €28,024 | +€28,024 | |
| Financial debts | 170/4 | €0 | €28,024 | +€28,024 | |
| Amounts payable within one year | 42/48 | €11,492 | €6,372 | -€5,120 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €2,072 | €4,138 | +€2,065 | +99.7% |
| Trade debts | 44 | €1,316 | €416 | -€900 | -68.4% |
| Suppliers | 440/4 | €1,316 | €416 | -€900 | -68.4% |
| Taxes, remuneration and social security | 45 | €2,593 | €1,052 | -€1,541 | -59.4% |
| Taxes | 450/3 | €2,593 | €1,052 | -€1,541 | -59.4% |
| Other amounts payable | 47/48 | €5,511 | €766 | -€4,745 | -86.1% |
| Accrued charges and deferred income | 492/3 | €1,062 | €397 | -€665 | -62.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,389 | €4,083 | -€306 | -7.0% |
| Other operating charges | 640/8 | €216 | €292 | +€77 | +35.7% |
| Gross operating margin | 9900 | €21,751 | €6,236 | -€15,515 | -71.3% |
| Operating profit (loss) | 9901 | €17,147 | €1,860 | -€15,286 | -89.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €535 | €531 | -€4 | -0.8% |
| Recurring financial charges | 65 | €535 | €531 | -€4 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €16,611 | €1,329 | -€15,282 | -92.0% |
| Income taxes | 67/77 | €3,426 | €560 | -€2,866 | -83.7% |
| Profit (loss) for the period | 9904 | €13,185 | €769 | -€12,416 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,185 | €769 | -€12,416 | -94.2% |
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 25 October 2026 via checked.be.