CHRISTOPHER JONES: 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.
CHRISTOPHER JONES
Largest movements
- Receivables within one year +€144,208
up €144,208 (+186%), from €77,717 to €221,925
- Cash +€71,066
up €71,066 (+24.9%), from €285,151 to €356,217
mainly Net result for the year (+€471,190) and Other debts (+€209,496)
- Other debts +€209,496
up €209,496 (+252%), from €83,000 to €292,496
- Reserves +€178,695
up €178,695 (+7.0%), from €2.5m to €2.7m
of which Distributable reserves: +€178,695
- Current portion of long-term debt -€116,320
no longer reported in 2025 (was €116,320)
- Tax, wage and social debts -€95,461
down €95,461 (-47.7%), from €200,186 to €104,724
- Trade debts +€35,146
up €35,146 (+313%), from €11,219 to €46,364
- Gross operating margin +€122,739
up €122,739 (+18.0%), from €680,966 to €803,705
- Taxes +€35,086
up €35,086 (+19.1%), from €183,444 to €218,530
- Depreciation +€14,643
up €14,643 (+14.7%), from €99,717 to €114,360
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 | €2,955,754 | €3,167,309 | +€211,555 | +7.2% |
| Fixed assets | 21/28 | €2,380,395 | €2,378,347 | -€2,049 | -0.1% |
| Tangible fixed assets | 22/27 | €2,380,395 | €2,378,347 | -€2,049 | -0.1% |
| Land and buildings | 22 | €2,312,928 | €2,282,285 | -€30,643 | -1.3% |
| Furniture and vehicles | 24 | €67,467 | €96,061 | +€28,594 | +42.4% |
| Current assets | 29/58 | €575,359 | €788,962 | +€213,603 | +37.1% |
| Amounts receivable within one year | 40/41 | €77,717 | €221,925 | +€144,208 | +186% |
| Other amounts receivable | 41 | €77,717 | €221,925 | +€144,208 | +186% |
| Current investments | 50/53 | €210,158 | €210,158 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €285,151 | €356,217 | +€71,066 | +24.9% |
| Deferred charges and accrued income | 490/1 | €2,334 | €663 | -€1,671 | -71.6% |
| Total equity and liabilities | 10/49 | €2,955,754 | €3,167,309 | +€211,555 | +7.2% |
| Equity | 10/15 | €2,545,030 | €2,723,724 | +€178,695 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,538,830 | €2,717,524 | +€178,695 | +7.0% |
| Non-distributable reserves | 130/1 | €174 | €174 | = | 0.0% |
| Reserves not available under the articles | 1311 | €174 | €174 | = | 0.0% |
| Distributable reserves | 133 | €2,538,656 | €2,717,351 | +€178,695 | +7.0% |
| Amounts payable | 17/49 | €410,724 | €443,584 | +€32,860 | +8.0% |
| Amounts payable within one year | 42/48 | €410,724 | €443,584 | +€32,860 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €116,320 | - | -€116,320 | |
| Trade debts | 44 | €11,219 | €46,364 | +€35,146 | +313% |
| Suppliers | 440/4 | €11,219 | €46,364 | +€35,146 | +313% |
| Taxes, remuneration and social security | 45 | €200,186 | €104,724 | -€95,461 | -47.7% |
| Taxes | 450/3 | €200,186 | €104,724 | -€95,461 | -47.7% |
| Other amounts payable | 47/48 | €83,000 | €292,496 | +€209,496 | +252% |
| Non-recurring operating income | 76A | - | €11,932 | +€11,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,717 | €114,360 | +€14,643 | +14.7% |
| Other operating charges | 640/8 | €3,245 | €2,771 | -€474 | -14.6% |
| Gross operating margin | 9900 | €680,966 | €803,705 | +€122,739 | +18.0% |
| Operating profit (loss) | 9901 | €578,004 | €686,574 | +€108,570 | +18.8% |
| Financial income | 75/76B | €468 | €3,306 | +€2,837 | +606% |
| Recurring financial income | 75 | €468 | €3,306 | +€2,837 | +606% |
| Financial charges | 65/66B | €44 | €159 | +€115 | +265% |
| Recurring financial charges | 65 | €44 | €159 | +€115 | +265% |
| Profit (loss) for the period before taxes | 9903 | €578,429 | €689,720 | +€111,291 | +19.2% |
| Income taxes | 67/77 | €183,444 | €218,530 | +€35,086 | +19.1% |
| Profit (loss) for the period | 9904 | €394,985 | €471,190 | +€76,206 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €394,985 | €471,190 | +€76,206 | +19.3% |
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.