ERWIN ROUSEU: 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 ROUSEU
Largest movements
- Receivables within one year -€9,334
down €9,334 (-44.9%), from €20,798 to €11,464
of which Other amounts receivable: -€4,713
- Cash -€4,303
no longer reported in 2025 (was €4,303)
mainly Net result for the year (-€16,872) and Debts after one year (-€5,518)
- Tangible fixed assets -€3,447
down €3,447 (-33.2%), from €10,394 to €6,947
of which Leasing and similar rights: -€5,380
- Deferred charges and accrued income -€2,894
down €2,894 (-94.8%), from €3,052 to €158
- Stocks and contracts -€1,522
down €1,522 (-16.9%), from €9,022 to €7,500
of which Stocks: -€4,000
- Profit (loss) carried forward -€16,872
down €16,872 (-173%), from -€9,726 to -€26,598
- Debts after one year -€5,518
no longer reported in 2025 (was €5,518)
- Accrued charges and deferred income -€2,858
no longer reported in 2025 (was €2,858)
- Other debts +€1,961
new in 2025: €1,961
- Short-term financial debts +€1,225
new in 2025: €1,225
- Gross operating margin -€12,493
down €12,493, from €2,341 to -€10,152
- Other operating charges -€954
down €954 (-75.3%), from €1,266 to €312
- Financial charges -€890
down €890 (-51.9%), from €1,714 to €824
- Financial income -€591
down €591 (-99.3%), from €595 to €4
- Depreciation -€185
down €185 (-3.2%), from €5,773 to €5,588
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 | €47,568 | €26,068 | -€21,500 | -45.2% |
| Fixed assets | 21/28 | €10,394 | €6,947 | -€3,447 | -33.2% |
| Tangible fixed assets | 22/27 | €10,394 | €6,947 | -€3,447 | -33.2% |
| Plant, machinery and equipment | 23 | €83 | €2,015 | +€1,933 | +2,336% |
| Leasing and similar rights | 25 | €10,312 | €4,932 | -€5,380 | -52.2% |
| Current assets | 29/58 | €37,174 | €19,121 | -€18,053 | -48.6% |
| Stocks and contracts in progress | 3 | €9,022 | €7,500 | -€1,522 | -16.9% |
| Stocks | 30/36 | €4,000 | - | -€4,000 | |
| Contracts in progress | 37 | €5,022 | €7,500 | +€2,478 | +49.3% |
| Amounts receivable within one year | 40/41 | €20,798 | €11,464 | -€9,334 | -44.9% |
| Trade receivables | 40 | €12,372 | €7,751 | -€4,621 | -37.3% |
| Other amounts receivable | 41 | €8,426 | €3,713 | -€4,713 | -55.9% |
| Cash at bank and in hand | 54/58 | €4,303 | - | -€4,303 | |
| Deferred charges and accrued income | 490/1 | €3,052 | €158 | -€2,894 | -94.8% |
| Total equity and liabilities | 10/49 | €47,568 | €26,068 | -€21,500 | -45.2% |
| Equity | 10/15 | €19,746 | €2,874 | -€16,872 | -85.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €16,971 | €16,971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,111 | €15,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,726 | -€26,598 | -€16,872 | -173% |
| Amounts payable | 17/49 | €27,823 | €23,195 | -€4,628 | -16.6% |
| Amounts payable after more than one year | 17 | €5,518 | - | -€5,518 | |
| Financial debts | 170/4 | €5,518 | - | -€5,518 | |
| Amounts payable within one year | 42/48 | €19,446 | €23,195 | +€3,749 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €5,676 | €5,512 | -€164 | -2.9% |
| Financial debts | 43 | - | €1,225 | +€1,225 | |
| Credit institutions | 430/8 | - | €1,225 | +€1,225 | |
| Trade debts | 44 | €13,634 | €14,497 | +€863 | +6.3% |
| Suppliers | 440/4 | €13,634 | €14,497 | +€863 | +6.3% |
| Taxes, remuneration and social security | 45 | €137 | - | -€137 | |
| Taxes | 450/3 | €137 | - | -€137 | |
| Other amounts payable | 47/48 | - | €1,961 | +€1,961 | |
| Accrued charges and deferred income | 492/3 | €2,858 | - | -€2,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,773 | €5,588 | -€185 | -3.2% |
| Other operating charges | 640/8 | €1,266 | €312 | -€954 | -75.3% |
| Gross operating margin | 9900 | €2,341 | -€10,152 | -€12,493 | |
| Operating profit (loss) | 9901 | -€4,699 | -€16,052 | -€11,354 | -242% |
| Financial income | 75/76B | €595 | €4 | -€591 | -99.3% |
| Recurring financial income | 75 | €595 | €4 | -€591 | -99.3% |
| Financial charges | 65/66B | €1,714 | €824 | -€890 | -51.9% |
| Recurring financial charges | 65 | €1,714 | €824 | -€890 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,817 | -€16,872 | -€11,055 | -190% |
| Income taxes | 67/77 | €137 | - | -€137 | |
| Profit (loss) for the period | 9904 | -€5,954 | -€16,872 | -€10,918 | -183% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,954 | -€16,872 | -€10,918 | -183% |
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 19 October 2026 via checked.be.