André Jacobs: 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.
André Jacobs
Largest movements
- Cash +€14,392
up €14,392 (+12.6%), from €114,101 to €128,494
mainly Net result for the year (+€54,145) and Other debts (+€23,292)
- Tangible fixed assets -€11,015
down €11,015 (-22.9%), from €48,018 to €37,003
of which Leasing and similar rights: -€10,646
- Current investments +€10,088
up €10,088 (+18.3%), from €55,000 to €65,088
- Other debts +€23,292
up €23,292 (+23.3%), from €100,052 to €123,344
- Debts after one year -€11,602
down €11,602 (-41.4%), from €28,022 to €16,419
- Reserves +€9,195
up €9,195 (+21.2%), from €43,284 to €52,479
- Accrued charges and deferred income -€6,727
down €6,727 (-96.7%), from €6,953 to €226
- Financial charges -€7,314
down €7,314 (-82.3%), from €8,887 to €1,573
- Gross operating margin +€4,246
up €4,246 (+5.7%), from €75,047 to €79,294
- Taxes +€2,070
up €2,070 (+17.5%), from €11,804 to €13,874
- Depreciation +€1,694
up €1,694 (+18.2%), from €9,321 to €11,015
- Financial income +€1,620
up €1,620 (+28,676%), from €6 to €1,626
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 | €219,191 | €232,327 | +€13,136 | +6.0% |
| Fixed assets | 21/28 | €48,393 | €37,378 | -€11,015 | -22.8% |
| Tangible fixed assets | 22/27 | €48,018 | €37,003 | -€11,015 | -22.9% |
| Plant, machinery and equipment | 23 | €1,692 | €1,322 | -€369 | -21.8% |
| Leasing and similar rights | 25 | €46,327 | €35,681 | -€10,646 | -23.0% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €170,797 | €194,949 | +€24,151 | +14.1% |
| Amounts receivable within one year | 40/41 | €1,696 | €614 | -€1,082 | -63.8% |
| Other amounts receivable | 41 | €1,696 | €614 | -€1,082 | -63.8% |
| Current investments | 50/53 | €55,000 | €65,088 | +€10,088 | +18.3% |
| Cash at bank and in hand | 54/58 | €114,101 | €128,494 | +€14,392 | +12.6% |
| Deferred charges and accrued income | 490/1 | - | €753 | +€753 | |
| Total equity and liabilities | 10/49 | €219,191 | €232,327 | +€13,136 | +6.0% |
| Equity | 10/15 | €58,284 | €67,479 | +€9,195 | +15.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €43,284 | €52,479 | +€9,195 | +21.2% |
| Distributable reserves | 133 | €43,284 | €52,479 | +€9,195 | +21.2% |
| Amounts payable | 17/49 | €160,907 | €164,848 | +€3,942 | +2.4% |
| Amounts payable after more than one year | 17 | €28,022 | €16,419 | -€11,602 | -41.4% |
| Financial debts | 170/4 | €28,022 | €16,419 | -€11,602 | -41.4% |
| Amounts payable within one year | 42/48 | €125,932 | €148,203 | +€22,271 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €11,094 | €11,602 | +€509 | +4.6% |
| Trade debts | 44 | €2,600 | €671 | -€1,929 | -74.2% |
| Suppliers | 440/4 | €2,600 | €671 | -€1,929 | -74.2% |
| Taxes, remuneration and social security | 45 | €12,185 | €12,585 | +€400 | +3.3% |
| Taxes | 450/3 | €10,861 | €11,156 | +€295 | +2.7% |
| Remuneration and social security | 454/9 | €1,325 | €1,429 | +€105 | +7.9% |
| Other amounts payable | 47/48 | €100,052 | €123,344 | +€23,292 | +23.3% |
| Accrued charges and deferred income | 492/3 | €6,953 | €226 | -€6,727 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,321 | €11,015 | +€1,694 | +18.2% |
| Other operating charges | 640/8 | €502 | €313 | -€189 | -37.7% |
| Gross operating margin | 9900 | €75,047 | €79,294 | +€4,246 | +5.7% |
| Operating profit (loss) | 9901 | €65,224 | €67,966 | +€2,741 | +4.2% |
| Financial income | 75/76B | €6 | €1,626 | +€1,620 | +28,676% |
| Recurring financial income | 75 | €6 | €1,626 | +€1,620 | +28,676% |
| Financial charges | 65/66B | €8,887 | €1,573 | -€7,314 | -82.3% |
| Recurring financial charges | 65 | €8,887 | €1,573 | -€7,314 | -82.3% |
| Profit (loss) for the period before taxes | 9903 | €56,343 | €68,019 | +€11,675 | +20.7% |
| Income taxes | 67/77 | €11,804 | €13,874 | +€2,070 | +17.5% |
| Profit (loss) for the period | 9904 | €44,539 | €54,145 | +€9,605 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,539 | €54,145 | +€9,605 | +21.6% |
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 13 October 2026 via checked.be.