THIERRY EYERS: 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.
THIERRY EYERS
Largest movements
- Receivables within one year +€35,528
up €35,528 (+269%), from €13,208 to €48,737
- Cash +€24,378
up €24,378 (+41.1%), from €59,301 to €83,679
mainly Net result for the year (+€55,979) and Tax, wage and social debts (+€2,435)
- Reserves +€55,000
up €55,000 (+6.1%), from €895,500 to €950,500
of which Distributable reserves: +€55,000
- Financial income -€121,366
down €121,366 (-99.9%), from €121,488 to €122
- Taxes -€58,609
down €58,609 (-68.7%), from €85,282 to €26,673
- Gross operating margin -€55,969
down €55,969 (-39.1%), from €143,313 to €87,345
- Financial charges -€2,275
down €2,275 (-56.3%), from €4,042 to €1,767
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 | €1,452,635 | €1,512,329 | +€59,694 | +4.1% |
| Fixed assets | 21/28 | €1,543 | €1,097 | -€446 | -28.9% |
| Tangible fixed assets | 22/27 | €1,543 | €1,097 | -€446 | -28.9% |
| Furniture and vehicles | 24 | €1,543 | €1,097 | -€446 | -28.9% |
| Current assets | 29/58 | €1,451,092 | €1,511,232 | +€60,141 | +4.1% |
| Amounts receivable within one year | 40/41 | €13,208 | €48,737 | +€35,528 | +269% |
| Trade receivables | 40 | €13,208 | €48,737 | +€35,528 | +269% |
| Current investments | 50/53 | €1,378,267 | €1,378,267 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,301 | €83,679 | +€24,378 | +41.1% |
| Deferred charges and accrued income | 490/1 | €316 | €550 | +€234 | +74.1% |
| Total equity and liabilities | 10/49 | €1,452,635 | €1,512,329 | +€59,694 | +4.1% |
| Equity | 10/15 | €1,309,228 | €1,365,206 | +€55,979 | +4.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €895,500 | €950,500 | +€55,000 | +6.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €893,500 | €948,500 | +€55,000 | +6.2% |
| Profit (loss) carried forward | 14 | €393,728 | €394,706 | +€979 | +0.2% |
| Amounts payable | 17/49 | €143,407 | €147,123 | +€3,716 | +2.6% |
| Amounts payable within one year | 42/48 | €143,407 | €147,123 | +€3,716 | +2.6% |
| Trade debts | 44 | €9,202 | €8,393 | -€809 | -8.8% |
| Suppliers | 440/4 | €9,202 | €8,393 | -€809 | -8.8% |
| Taxes, remuneration and social security | 45 | €77,917 | €80,352 | +€2,435 | +3.1% |
| Taxes | 450/3 | €77,917 | €79,462 | +€1,545 | +2.0% |
| Remuneration and social security | 454/9 | - | €890 | +€890 | |
| Other amounts payable | 47/48 | €56,288 | €58,378 | +€2,090 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €672 | €446 | -€226 | -33.6% |
| Other operating charges | 640/8 | €2,459 | €2,602 | +€143 | +5.8% |
| Gross operating margin | 9900 | €143,313 | €87,345 | -€55,969 | -39.1% |
| Operating profit (loss) | 9901 | €140,183 | €84,296 | -€55,887 | -39.9% |
| Financial income | 75/76B | €121,488 | €122 | -€121,366 | -99.9% |
| Recurring financial income | 75 | €121,488 | €122 | -€121,366 | -99.9% |
| Financial charges | 65/66B | €4,042 | €1,767 | -€2,275 | -56.3% |
| Recurring financial charges | 65 | €4,042 | €1,767 | -€2,275 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €257,629 | €82,652 | -€174,978 | -67.9% |
| Income taxes | 67/77 | €85,282 | €26,673 | -€58,609 | -68.7% |
| Profit (loss) for the period | 9904 | €172,347 | €55,979 | -€116,368 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €172,347 | €55,979 | -€116,368 | -67.5% |
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 17 October 2026 via checked.be.