ERWIN DESTUYVER: 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.
ERWIN DESTUYVER
Largest movements
- Receivables within one year -€111,177
down €111,177 (-39.7%), from €280,306 to €169,129
- Tangible fixed assets +€58,831
new in 2025: €58,831
- Cash +€47,865
up €47,865 (+22.8%), from €210,146 to €258,012
mainly Net result for the year (+€358,816) and Receivables within one year (+€111,177)
- Other debts -€33,194
down €33,194 (-7.3%), from €453,686 to €420,492
- Reserves +€28,816
up €28,816 (+5,850%), from €493 to €29,308
- Gross operating margin -€121,017
down €121,017 (-20.2%), from €598,936 to €477,919
- Taxes -€32,076
down €32,076 (-22.1%), from €145,378 to €113,302
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 | €497,277 | €492,800 | -€4,477 | -0.9% |
| Fixed assets | 21/28 | - | €58,831 | +€58,831 | |
| Tangible fixed assets | 22/27 | - | €58,831 | +€58,831 | |
| Furniture and vehicles | 24 | - | €58,831 | +€58,831 | |
| Current assets | 29/58 | €497,277 | €433,969 | -€63,309 | -12.7% |
| Amounts receivable within one year | 40/41 | €280,306 | €169,129 | -€111,177 | -39.7% |
| Trade receivables | 40 | €280,306 | €169,129 | -€111,177 | -39.7% |
| Cash at bank and in hand | 54/58 | €210,146 | €258,012 | +€47,865 | +22.8% |
| Deferred charges and accrued income | 490/1 | €6,824 | €6,828 | +€3 | 0.0% |
| Total equity and liabilities | 10/49 | €497,277 | €492,800 | -€4,477 | -0.9% |
| Equity | 10/15 | €19,093 | €47,908 | +€28,816 | +151% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €493 | €29,308 | +€28,816 | +5,850% |
| Distributable reserves | 133 | €493 | €29,308 | +€28,816 | +5,850% |
| Amounts payable | 17/49 | €478,185 | €444,892 | -€33,293 | -7.0% |
| Amounts payable within one year | 42/48 | €466,185 | €432,892 | -€33,293 | -7.1% |
| Trade debts | 44 | €1,822 | €1,382 | -€440 | -24.1% |
| Suppliers | 440/4 | €1,822 | €1,382 | -€440 | -24.1% |
| Taxes, remuneration and social security | 45 | €10,677 | €11,017 | +€340 | +3.2% |
| Taxes | 450/3 | €10,677 | €11,017 | +€340 | +3.2% |
| Other amounts payable | 47/48 | €453,686 | €420,492 | -€33,194 | -7.3% |
| Accrued charges and deferred income | 492/3 | €12,000 | €12,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,883 | +€3,883 | |
| Other operating charges | 640/8 | €1,097 | €1,774 | +€678 | +61.8% |
| Gross operating margin | 9900 | €598,936 | €477,919 | -€121,017 | -20.2% |
| Operating profit (loss) | 9901 | €597,840 | €472,262 | -€125,578 | -21.0% |
| Financial income | 75/76B | €69 | €1 | -€68 | -98.8% |
| Recurring financial income | 75 | €69 | €1 | -€68 | -98.8% |
| Financial charges | 65/66B | €116 | €145 | +€29 | +25.0% |
| Recurring financial charges | 65 | €116 | €145 | +€29 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €597,792 | €472,117 | -€125,675 | -21.0% |
| Income taxes | 67/77 | €145,378 | €113,302 | -€32,076 | -22.1% |
| Profit (loss) for the period | 9904 | €452,415 | €358,816 | -€93,599 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €452,415 | €358,816 | -€93,599 | -20.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.