Florian Ernotte: 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.
Florian Ernotte
Largest movements
- Cash +€43,221
up €43,221 (+285%), from €15,166 to €58,387
mainly Net result for the year (+€78,910) and Debts after one year (+€19,904)
- Deferred charges and accrued income +€4,056
new in 2025: €4,056
- Debts after one year +€19,904
up €19,904 (+31.6%), from €62,978 to €82,882
of which Other amounts payable: +€49,174
- Tax, wage and social debts +€16,950
up €16,950 (+312%), from €5,427 to €22,377
of which Taxes: +€17,310
- Profit (loss) carried forward +€3,910
up €3,910 (+3.8%), from €102,234 to €106,144
- Gross operating margin +€28,979
up €28,979 (+33.0%), from €87,764 to €116,743
- Taxes +€5,865
up €5,865 (+25.2%), from €23,264 to €29,129
- Financial charges +€2,075
up €2,075 (+87.9%), from €2,360 to €4,435
of which Financial charges: +€2,028
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 | €297,518 | €341,485 | +€43,967 | +14.8% |
| Fixed assets | 21/28 | €251,574 | €249,738 | -€1,836 | -0.7% |
| Tangible fixed assets | 22/27 | €6,574 | €4,738 | -€1,836 | -27.9% |
| Furniture and vehicles | 24 | €6,574 | €4,738 | -€1,836 | -27.9% |
| Financial fixed assets | 28 | €245,000 | €245,000 | = | 0.0% |
| Current assets | 29/58 | €45,944 | €91,747 | +€45,803 | +99.7% |
| Amounts receivable within one year | 40/41 | €30,778 | €29,305 | -€1,473 | -4.8% |
| Trade receivables | 40 | €30,778 | €29,305 | -€1,473 | -4.8% |
| Cash at bank and in hand | 54/58 | €15,166 | €58,387 | +€43,221 | +285% |
| Deferred charges and accrued income | 490/1 | - | €4,056 | +€4,056 | |
| Total equity and liabilities | 10/49 | €297,518 | €341,485 | +€43,967 | +14.8% |
| Equity | 10/15 | €122,074 | €125,984 | +€3,910 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,240 | €1,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,234 | €106,144 | +€3,910 | +3.8% |
| Amounts payable | 17/49 | €175,444 | €215,501 | +€40,057 | +22.8% |
| Amounts payable after more than one year | 17 | €62,978 | €82,882 | +€19,904 | +31.6% |
| Financial debts | 170/4 | €39,086 | €9,816 | -€29,270 | -74.9% |
| Other amounts payable | 178/9 | €23,892 | €73,066 | +€49,174 | +206% |
| Amounts payable within one year | 42/48 | €111,185 | €132,619 | +€21,434 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €29,004 | €29,270 | +€266 | +0.9% |
| Trade debts | 44 | €1,754 | €3,569 | +€1,815 | +103% |
| Suppliers | 440/4 | €1,754 | €3,569 | +€1,815 | +103% |
| Taxes, remuneration and social security | 45 | €5,427 | €22,377 | +€16,950 | +312% |
| Taxes | 450/3 | €5,067 | €22,377 | +€17,310 | +342% |
| Remuneration and social security | 454/9 | €360 | - | -€360 | |
| Other amounts payable | 47/48 | €75,000 | €77,403 | +€2,403 | +3.2% |
| Accrued charges and deferred income | 492/3 | €1,281 | - | -€1,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,769 | €3,390 | -€379 | -10.1% |
| Other operating charges | 640/8 | €1,339 | €884 | -€455 | -34.0% |
| Non-recurring operating charges | 66A | €74 | - | -€74 | |
| Gross operating margin | 9900 | €87,764 | €116,743 | +€28,979 | +33.0% |
| Operating profit (loss) | 9901 | €82,582 | €112,469 | +€29,887 | +36.2% |
| Financial income | 75/76B | €30 | €5 | -€25 | -82.8% |
| Recurring financial income | 75 | €30 | €5 | -€25 | -82.8% |
| Financial charges | 65/66B | €2,360 | €4,435 | +€2,075 | +87.9% |
| Recurring financial charges | 65 | €2,360 | €4,388 | +€2,028 | +85.9% |
| Non-recurring financial charges | 66B | - | €48 | +€48 | |
| Profit (loss) for the period before taxes | 9903 | €80,252 | €108,039 | +€27,787 | +34.6% |
| Income taxes | 67/77 | €23,264 | €29,129 | +€5,865 | +25.2% |
| Profit (loss) for the period | 9904 | €56,988 | €78,910 | +€21,922 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,988 | €78,910 | +€21,922 | +38.5% |
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 25 October 2026 via checked.be.