JEF VAN ERWEGEN: 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.
JEF VAN ERWEGEN
Largest movements
- Cash -€132,529
down €132,529 (-57.0%), from €232,565 to €100,036
mainly Other debts (-€109,306) and Contributions, distributions and other (-€98,000)
- Current investments -€54,397
down €54,397 (-54.9%), from €99,124 to €44,726
- Receivables within one year +€19,987
up €19,987 (+64.7%), from €30,893 to €50,881
of which Trade receivables: +€12,185
- Tangible fixed assets -€17,564
down €17,564 (-23.2%), from €75,655 to €58,091
of which Plant, machinery and equipment: -€8,898
- Deferred charges and accrued income -€7,831
down €7,831 (-63.1%), from €12,402 to €4,572
- Other debts -€109,306
down €109,306 (-87.6%), from €124,775 to €15,469
- Reserves -€98,000
down €98,000 (-26.3%), from €373,199 to €275,199
of which Distributable reserves: -€98,000
- Profit (loss) carried forward +€40,279
up €40,279 (+65.6%), from -€61,440 to -€21,161
- Trade debts -€15,912
down €15,912 (-78.0%), from €20,393 to €4,481
- Gross operating margin +€103,228
up €103,228 (+1,470%), from €7,024 to €110,252
- Financial charges -€17,386
down €17,386 (-94.9%), from €18,319 to €933
- Staff costs -€12,065
down €12,065 (-19.5%), from €61,902 to €49,837
- Depreciation -€3,719
down €3,719 (-16.0%), from €23,182 to €19,464
- Financial income -€2,121
down €2,121 (-51.8%), from €4,097 to €1,976
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 | €489,282 | €303,602 | -€185,681 | -37.9% |
| Fixed assets | 21/28 | €75,790 | €58,226 | -€17,564 | -23.2% |
| Tangible fixed assets | 22/27 | €75,655 | €58,091 | -€17,564 | -23.2% |
| Plant, machinery and equipment | 23 | €43,834 | €34,936 | -€8,898 | -20.3% |
| Furniture and vehicles | 24 | €31,821 | €23,156 | -€8,665 | -27.2% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €413,492 | €245,375 | -€168,117 | -40.7% |
| Stocks and contracts in progress | 3 | €38,508 | €45,161 | +€6,653 | +17.3% |
| Stocks | 30/36 | €32,676 | €27,770 | -€4,906 | -15.0% |
| Contracts in progress | 37 | €5,832 | €17,391 | +€11,559 | +198% |
| Amounts receivable within one year | 40/41 | €30,893 | €50,881 | +€19,987 | +64.7% |
| Trade receivables | 40 | €29,839 | €42,024 | +€12,185 | +40.8% |
| Other amounts receivable | 41 | €1,054 | €8,857 | +€7,803 | +740% |
| Current investments | 50/53 | €99,124 | €44,726 | -€54,397 | -54.9% |
| Cash at bank and in hand | 54/58 | €232,565 | €100,036 | -€132,529 | -57.0% |
| Deferred charges and accrued income | 490/1 | €12,402 | €4,572 | -€7,831 | -63.1% |
| Total equity and liabilities | 10/49 | €489,282 | €303,602 | -€185,681 | -37.9% |
| Equity | 10/15 | €330,351 | €272,630 | -€57,721 | -17.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €373,199 | €275,199 | -€98,000 | -26.3% |
| Tax-exempt reserves | 132 | €35,996 | €35,996 | = | 0.0% |
| Distributable reserves | 133 | €337,203 | €239,203 | -€98,000 | -29.1% |
| Profit (loss) carried forward | 14 | -€61,440 | -€21,161 | +€40,279 | +65.6% |
| Amounts payable | 17/49 | €158,931 | €30,971 | -€127,960 | -80.5% |
| Amounts payable within one year | 42/48 | €158,931 | €30,971 | -€127,960 | -80.5% |
| Trade debts | 44 | €20,393 | €4,481 | -€15,912 | -78.0% |
| Suppliers | 440/4 | €20,393 | €4,481 | -€15,912 | -78.0% |
| Taxes, remuneration and social security | 45 | €13,763 | €11,022 | -€2,742 | -19.9% |
| Taxes | 450/3 | €1,713 | €4,955 | +€3,242 | +189% |
| Remuneration and social security | 454/9 | €12,050 | €6,067 | -€5,983 | -49.7% |
| Other amounts payable | 47/48 | €124,775 | €15,469 | -€109,306 | -87.6% |
| Remuneration, social security and pensions | 62 | €61,902 | €49,837 | -€12,065 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,182 | €19,464 | -€3,719 | -16.0% |
| Other operating charges | 640/8 | €1,701 | €1,580 | -€121 | -7.1% |
| Gross operating margin | 9900 | €7,024 | €110,252 | +€103,228 | +1,470% |
| Operating profit (loss) | 9901 | -€79,761 | €39,372 | +€119,133 | |
| Financial income | 75/76B | €4,097 | €1,976 | -€2,121 | -51.8% |
| Recurring financial income | 75 | €4,097 | €1,976 | -€2,121 | -51.8% |
| Financial charges | 65/66B | €18,319 | €933 | -€17,386 | -94.9% |
| Recurring financial charges | 65 | €18,319 | €933 | -€17,386 | -94.9% |
| Profit (loss) for the period before taxes | 9903 | -€93,983 | €40,416 | +€134,399 | |
| Income taxes | 67/77 | €146 | €137 | -€9 | -6.3% |
| Profit (loss) for the period | 9904 | -€94,129 | €40,279 | +€134,408 | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,129 | €40,279 | +€134,408 |
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 15 October 2026 via checked.be.