SCHAEFER ERIC: what changed
Two fiscal 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.
SCHAEFER ERIC
Largest movements
- Tangible fixed assets -€28,286
down €28,286 (-6.1%), from €461,777 to €433,491
of which Land and buildings: -€16,625
- Deferred charges and accrued income -€16,000
down €16,000 (-88.9%), from €18,000 to €2,000
- Receivables within one year +€15,770
up €15,770 (+635.6%), from €2,481 to €18,251
- Cash +€9,881
up €9,881 (+20.6%), from €48,014 to €57,895
mainly Depreciation (+€28,286) and Net result for the year (+€20,219)
- Debts after one year -€44,724
down €44,724 (-21.6%), from €206,751 to €162,027
- Reserves +€20,219
up €20,219 (+19.2%), from €105,374 to €125,593
- Other debts +€16,534
up €16,534 (+24.9%), from €66,325 to €82,860
- Profit (loss) carried forward -€6,184
no longer reported in 2025 (was €6,184)
- Gross operating margin -€22,373
down €22,373 (-14.8%), from €151,417 to €129,044
- Financial charges +€14,315
up €14,315 (+25.5%), from €56,123 to €70,439
- Taxes -€8,758
down €8,758 (-47.2%), from €18,546 to €9,788
- Other operating charges -€2,533
down €2,533 (-85.1%), from €2,976 to €444
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.
Cash bridge derived
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 | €530,272 | €511,638 | -€18,634 | -3.5% |
| Fixed assets | 21/28 | €461,777 | €433,491 | -€28,286 | -6.1% |
| Tangible fixed assets | 22/27 | €461,777 | €433,491 | -€28,286 | -6.1% |
| Land and buildings | 22 | €392,885 | €376,260 | -€16,625 | -4.2% |
| Plant, machinery and equipment | 23 | €56,840 | €48,888 | -€7,952 | -14.0% |
| Furniture and vehicles | 24 | €12,051 | €8,343 | -€3,708 | -30.8% |
| Current assets | 29/58 | €68,495 | €78,147 | +€9,652 | +14.1% |
| Amounts receivable within one year | 40/41 | €2,481 | €18,251 | +€15,770 | +635.6% |
| Other amounts receivable | 41 | €2,481 | €18,251 | +€15,770 | +635.6% |
| Cash at bank and in hand | 54/58 | €48,014 | €57,895 | +€9,881 | +20.6% |
| Deferred charges and accrued income | 490/1 | €18,000 | €2,000 | -€16,000 | -88.9% |
| Total equity and liabilities | 10/49 | €530,272 | €511,638 | -€18,634 | -3.5% |
| Equity | 10/15 | €204,308 | €218,343 | +€14,035 | +6.9% |
| Contributions | 10/11 | €92,750 | €92,750 | = | 0.0% |
| Reserves | 13 | €105,374 | €125,593 | +€20,219 | +19.2% |
| Distributable reserves | 133 | €105,374 | €125,593 | +€20,219 | +19.2% |
| Profit (loss) carried forward | 14 | €6,184 | - | -€6,184 | |
| Amounts payable | 17/49 | €325,964 | €293,295 | -€32,669 | -10.0% |
| Amounts payable after more than one year | 17 | €206,751 | €162,027 | -€44,724 | -21.6% |
| Financial debts | 170/4 | €206,751 | €162,027 | -€44,724 | -21.6% |
| Amounts payable within one year | 42/48 | €119,213 | €131,268 | +€12,055 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €45,741 | €44,724 | -€1,017 | -2.2% |
| Trade debts | 44 | €5,127 | €1,620 | -€3,506 | -68.4% |
| Suppliers | 440/4 | €5,127 | €1,620 | -€3,506 | -68.4% |
| Taxes, remuneration and social security | 45 | €2,020 | €2,064 | +€44 | +2.2% |
| Taxes | 450/3 | €2,020 | €2,064 | +€44 | +2.2% |
| Other amounts payable | 47/48 | €66,325 | €82,860 | +€16,534 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,676 | €28,286 | +€609 | +2.2% |
| Other operating charges | 640/8 | €2,976 | €444 | -€2,533 | -85.1% |
| Gross operating margin | 9900 | €151,417 | €129,044 | -€22,373 | -14.8% |
| Operating profit (loss) | 9901 | €120,764 | €100,314 | -€20,450 | -16.9% |
| Financial income | 75/76B | €89 | €131 | +€42 | +47.3% |
| Recurring financial income | 75 | €89 | €131 | +€42 | +47.3% |
| Financial charges | 65/66B | €56,123 | €70,439 | +€14,315 | +25.5% |
| Recurring financial charges | 65 | €56,123 | €70,439 | +€14,315 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €64,730 | €30,007 | -€34,723 | -53.6% |
| Income taxes | 67/77 | €18,546 | €9,788 | -€8,758 | -47.2% |
| Profit (loss) for the period | 9904 | €46,184 | €20,219 | -€25,965 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,184 | €20,219 | -€25,965 | -56.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.