ERNALSTEEN KOEN: 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.
ERNALSTEEN KOEN
Largest movements
- Tangible fixed assets +€31,000
up €31,000 (+252%), from €12,295 to €43,295
of which Furniture and vehicles: +€32,243
- Cash -€6,888
no longer reported in 2025 (was €6,888)
mainly Investment in fixed assets (net) (-€39,045) and Trade debts (-€5,126)
- Receivables within one year -€923
down €923 (-6.4%), from €14,474 to €13,551
of which Trade receivables: -€1,867
- Debts after one year +€24,908
up €24,908 (+1,011%), from €2,465 to €27,373
- Trade debts -€5,126
down €5,126 (-80.3%), from €6,381 to €1,255
- Profit (loss) carried forward +€2,957
up €2,957 (+72.4%), from -€4,086 to -€1,128
- Current portion of long-term debt +€2,791
up €2,791 (+42.4%), from €6,580 to €9,372
- Tax, wage and social debts -€1,932
no longer reported in 2025 (was €1,932)
- Gross operating margin +€4,343
up €4,343 (+50.7%), from €8,562 to €12,906
- Depreciation +€1,882
up €1,882 (+30.5%), from €6,163 to €8,045
- Taxes +€272
new in 2025: €272
- Financial income +€201
up €201 (+65.6%), from €306 to €508
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 | €41,092 | €64,781 | +€23,689 | +57.6% |
| Fixed assets | 21/28 | €12,530 | €43,530 | +€31,000 | +247% |
| Tangible fixed assets | 22/27 | €12,295 | €43,295 | +€31,000 | +252% |
| Plant, machinery and equipment | 23 | €5,560 | €4,317 | -€1,243 | -22.4% |
| Furniture and vehicles | 24 | €6,734 | €38,978 | +€32,243 | +479% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €28,563 | €21,251 | -€7,312 | -25.6% |
| Stocks and contracts in progress | 3 | €7,200 | €7,700 | +€500 | +6.9% |
| Stocks | 30/36 | €3,200 | €3,700 | +€500 | +15.6% |
| Contracts in progress | 37 | €4,000 | €4,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,474 | €13,551 | -€923 | -6.4% |
| Trade receivables | 40 | €3,684 | €1,818 | -€1,867 | -50.7% |
| Other amounts receivable | 41 | €10,790 | €11,733 | +€943 | +8.7% |
| Cash at bank and in hand | 54/58 | €6,888 | - | -€6,888 | |
| Total equity and liabilities | 10/49 | €41,092 | €64,781 | +€23,689 | +57.6% |
| Equity | 10/15 | €23,734 | €26,692 | +€2,957 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,220 | €9,220 | = | 0.0% |
| Distributable reserves | 133 | €9,220 | €9,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,086 | -€1,128 | +€2,957 | +72.4% |
| Amounts payable | 17/49 | €17,358 | €38,089 | +€20,731 | +119% |
| Amounts payable after more than one year | 17 | €2,465 | €27,373 | +€24,908 | +1,011% |
| Financial debts | 170/4 | €2,465 | €27,373 | +€24,908 | +1,011% |
| Amounts payable within one year | 42/48 | €14,893 | €10,716 | -€4,177 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €6,580 | €9,372 | +€2,791 | +42.4% |
| Financial debts | 43 | - | €90 | +€90 | |
| Credit institutions | 430/8 | - | €90 | +€90 | |
| Trade debts | 44 | €6,381 | €1,255 | -€5,126 | -80.3% |
| Suppliers | 440/4 | €6,381 | €1,255 | -€5,126 | -80.3% |
| Taxes, remuneration and social security | 45 | €1,932 | - | -€1,932 | |
| Taxes | 450/3 | €1,932 | - | -€1,932 | |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,163 | €8,045 | +€1,882 | +30.5% |
| Other operating charges | 640/8 | €926 | €991 | +€65 | +7.0% |
| Gross operating margin | 9900 | €8,562 | €12,906 | +€4,343 | +50.7% |
| Operating profit (loss) | 9901 | €1,473 | €3,870 | +€2,397 | +163% |
| Financial income | 75/76B | €306 | €508 | +€201 | +65.6% |
| Recurring financial income | 75 | €306 | €508 | +€201 | +65.6% |
| Financial charges | 65/66B | €1,051 | €1,148 | +€97 | +9.2% |
| Recurring financial charges | 65 | €1,051 | €1,148 | +€97 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €729 | €3,229 | +€2,500 | +343% |
| Income taxes | 67/77 | - | €272 | +€272 | |
| Profit (loss) for the period | 9904 | €729 | €2,957 | +€2,229 | +306% |
| Profit (loss) for the period to be appropriated | 9905 | €729 | €2,957 | +€2,229 | +306% |
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 26 October 2026 via checked.be.