ALEXANDRE JEAN: 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.
ALEXANDRE JEAN
Largest movements
- Cash -€34,460
down €34,460 (-65.7%), from €52,439 to €17,979
mainly Other debts (-€54,178) and Investment in fixed assets (net) (-€40,303)
- Tangible fixed assets -€8,987
down €8,987 (-2.9%), from €305,824 to €296,836
of which Plant, machinery and equipment: -€44,035
- Receivables within one year -€7,444
down €7,444 (-7.0%), from €106,889 to €99,445
of which Trade receivables: -€9,610
- Other debts -€54,178
down €54,178 (-26.3%), from €205,914 to €151,735
- Gross operating margin -€32,591
down €32,591 (-28.7%), from €113,405 to €80,814
- Staff costs +€12,399
new in 2025: €12,399
- Taxes -€9,337
down €9,337 (-88.5%), from €10,554 to €1,217
- Depreciation +€6,367
up €6,367 (+13.2%), from €48,125 to €54,492
- Financial charges +€3,126
up €3,126 (+58.9%), from €5,306 to €8,431
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 | €520,951 | €469,478 | -€51,472 | -9.9% |
| Formation expenses | 20 | €807 | €605 | -€202 | -25.0% |
| Fixed assets | 21/28 | €350,824 | €336,836 | -€13,987 | -4.0% |
| Intangible fixed assets | 21 | €45,000 | €40,000 | -€5,000 | -11.1% |
| Tangible fixed assets | 22/27 | €305,824 | €296,836 | -€8,987 | -2.9% |
| Land and buildings | 22 | €23,040 | €58,223 | +€35,183 | +153% |
| Plant, machinery and equipment | 23 | €282,511 | €238,477 | -€44,035 | -15.6% |
| Furniture and vehicles | 24 | €273 | €136 | -€136 | -50.0% |
| Current assets | 29/58 | €169,320 | €132,037 | -€37,283 | -22.0% |
| Stocks and contracts in progress | 3 | €9,489 | €12,953 | +€3,464 | +36.5% |
| Stocks | 30/36 | €9,489 | €12,953 | +€3,464 | +36.5% |
| Amounts receivable within one year | 40/41 | €106,889 | €99,445 | -€7,444 | -7.0% |
| Trade receivables | 40 | €91,135 | €81,525 | -€9,610 | -10.5% |
| Other amounts receivable | 41 | €15,754 | €17,920 | +€2,166 | +13.8% |
| Cash at bank and in hand | 54/58 | €52,439 | €17,979 | -€34,460 | -65.7% |
| Deferred charges and accrued income | 490/1 | €503 | €1,660 | +€1,157 | +230% |
| Total equity and liabilities | 10/49 | €520,951 | €469,478 | -€51,472 | -9.9% |
| Equity | 10/15 | €52,175 | €55,303 | +€3,128 | +6.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €49,175 | €52,303 | +€3,128 | +6.4% |
| Distributable reserves | 133 | €49,175 | €52,303 | +€3,128 | +6.4% |
| Amounts payable | 17/49 | €468,776 | €414,176 | -€54,600 | -11.6% |
| Amounts payable after more than one year | 17 | €164,161 | €162,489 | -€1,672 | -1.0% |
| Financial debts | 170/4 | €164,161 | €162,489 | -€1,672 | -1.0% |
| Amounts payable within one year | 42/48 | €288,682 | €234,972 | -€53,710 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €32,393 | €36,043 | +€3,650 | +11.3% |
| Trade debts | 44 | €39,287 | €34,255 | -€5,033 | -12.8% |
| Suppliers | 440/4 | €39,287 | €34,255 | -€5,033 | -12.8% |
| Taxes, remuneration and social security | 45 | €11,088 | €12,939 | +€1,851 | +16.7% |
| Taxes | 450/3 | €11,088 | €12,939 | +€1,851 | +16.7% |
| Other amounts payable | 47/48 | €205,914 | €151,735 | -€54,178 | -26.3% |
| Accrued charges and deferred income | 492/3 | €15,933 | €16,716 | +€782 | +4.9% |
| Remuneration, social security and pensions | 62 | - | €12,399 | +€12,399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,125 | €54,492 | +€6,367 | +13.2% |
| Other operating charges | 640/8 | €246 | €910 | +€664 | +270% |
| Non-recurring operating charges | 66A | - | €318 | +€318 | |
| Gross operating margin | 9900 | €113,405 | €80,814 | -€32,591 | -28.7% |
| Operating profit (loss) | 9901 | €65,034 | €12,696 | -€52,338 | -80.5% |
| Financial income | 75/76B | €0 | €80 | +€80 | +20,020% |
| Recurring financial income | 75 | €0 | €80 | +€80 | +19,985% |
| Non-recurring financial income | 76B | €0 | €0 | -€0 | -65.0% |
| Financial charges | 65/66B | €5,306 | €8,431 | +€3,126 | +58.9% |
| Recurring financial charges | 65 | €5,306 | €8,431 | +€3,126 | +58.9% |
| Profit (loss) for the period before taxes | 9903 | €59,729 | €4,345 | -€55,384 | -92.7% |
| Income taxes | 67/77 | €10,554 | €1,217 | -€9,337 | -88.5% |
| Profit (loss) for the period | 9904 | €49,175 | €3,128 | -€46,047 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,175 | €3,128 | -€46,047 | -93.6% |
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 20 October 2026 via checked.be.