DE JAEGER CHRISTIAN: 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.
DE JAEGER CHRISTIAN
Largest movements
- Tangible fixed assets -€79,074
down €79,074 (-6.1%), from €1.3m to €1.2m
of which Leasing and similar rights: -€89,464
- Receivables within one year +€39,569
up €39,569 (+15.9%), from €248,614 to €288,182
of which Trade receivables: +€23,246
- Cash +€28,424
up €28,424 (+27.7%), from €102,762 to €131,186
mainly Depreciation (+€316,727) and Net result for the year (+€120,004)
- Reserves +€118,338
up €118,338 (+50.3%), from €235,280 to €353,618
of which Distributable reserves: +€95,775
- Debts after one year -€111,342
down €111,342 (-15.3%), from €727,232 to €615,889
of which Financial debts: -€105,342
- Trade debts -€87,481
down €87,481 (-60.5%), from €144,528 to €57,047
- Tax, wage and social debts +€38,580
up €38,580 (+232%), from €16,613 to €55,194
of which Taxes: +€38,478
- Gross operating margin +€114,664
up €114,664 (+13.6%), from €843,173 to €957,837
- Depreciation +€51,385
up €51,385 (+19.4%), from €265,342 to €316,727
- Staff costs -€42,347
down €42,347 (-10.1%), from €418,015 to €375,668
- Taxes +€27,875
up €27,875 (+1,886%), from €1,478 to €29,353
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 | €1,685,276 | €1,657,075 | -€28,201 | -1.7% |
| Fixed assets | 21/28 | €1,302,529 | €1,223,455 | -€79,074 | -6.1% |
| Tangible fixed assets | 22/27 | €1,301,719 | €1,222,645 | -€79,074 | -6.1% |
| Land and buildings | 22 | €221,232 | €219,705 | -€1,527 | -0.7% |
| Plant, machinery and equipment | 23 | €435,838 | €447,908 | +€12,070 | +2.8% |
| Furniture and vehicles | 24 | €175,347 | €175,193 | -€154 | -0.1% |
| Leasing and similar rights | 25 | €469,302 | €379,838 | -€89,464 | -19.1% |
| Financial fixed assets | 28 | €810 | €810 | = | 0.0% |
| Current assets | 29/58 | €382,747 | €433,620 | +€50,873 | +13.3% |
| Stocks and contracts in progress | 3 | €8,491 | €5,079 | -€3,412 | -40.2% |
| Stocks | 30/36 | €8,491 | €5,079 | -€3,412 | -40.2% |
| Amounts receivable within one year | 40/41 | €248,614 | €288,182 | +€39,569 | +15.9% |
| Trade receivables | 40 | €233,707 | €256,952 | +€23,246 | +9.9% |
| Other amounts receivable | 41 | €14,907 | €31,230 | +€16,323 | +109% |
| Cash at bank and in hand | 54/58 | €102,762 | €131,186 | +€28,424 | +27.7% |
| Deferred charges and accrued income | 490/1 | €22,880 | €9,172 | -€13,708 | -59.9% |
| Total equity and liabilities | 10/49 | €1,685,276 | €1,657,075 | -€28,201 | -1.7% |
| Equity | 10/15 | €255,280 | €373,618 | +€118,338 | +46.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €235,280 | €353,618 | +€118,338 | +50.3% |
| Tax-exempt reserves | 132 | €14,056 | €36,619 | +€22,563 | +161% |
| Distributable reserves | 133 | €221,225 | €317,000 | +€95,775 | +43.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €4,685 | €9,987 | +€5,301 | +113% |
| Deferred taxes | 168 | €4,685 | €9,987 | +€5,301 | +113% |
| Amounts payable | 17/49 | €1,425,310 | €1,273,469 | -€151,841 | -10.7% |
| Amounts payable after more than one year | 17 | €727,232 | €615,889 | -€111,342 | -15.3% |
| Financial debts | 170/4 | €721,232 | €615,889 | -€105,342 | -14.6% |
| Other amounts payable | 178/9 | €6,000 | €0 | -€6,000 | -100% |
| Amounts payable within one year | 42/48 | €682,620 | €641,436 | -€41,184 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €210,869 | €203,027 | -€7,842 | -3.7% |
| Financial debts | 43 | €105,000 | €110,000 | +€5,000 | +4.8% |
| Credit institutions | 430/8 | €105,000 | €110,000 | +€5,000 | +4.8% |
| Trade debts | 44 | €144,528 | €57,047 | -€87,481 | -60.5% |
| Suppliers | 440/4 | €144,528 | €57,047 | -€87,481 | -60.5% |
| Taxes, remuneration and social security | 45 | €16,613 | €55,194 | +€38,580 | +232% |
| Taxes | 450/3 | €7,392 | €45,871 | +€38,478 | +521% |
| Remuneration and social security | 454/9 | €9,221 | €9,323 | +€102 | +1.1% |
| Other amounts payable | 47/48 | €205,610 | €216,168 | +€10,558 | +5.1% |
| Accrued charges and deferred income | 492/3 | €15,459 | €16,144 | +€685 | +4.4% |
| Non-recurring operating income | 76A | €0 | €55,000 | +€55,000 | |
| Remuneration, social security and pensions | 62 | €418,015 | €375,668 | -€42,347 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265,342 | €316,727 | +€51,385 | +19.4% |
| Other operating charges | 640/8 | €35,469 | €44,287 | +€8,818 | +24.9% |
| Non-recurring operating charges | 66A | €47,083 | €1,179 | -€45,904 | -97.5% |
| Gross operating margin | 9900 | €843,173 | €957,837 | +€114,664 | +13.6% |
| Operating profit (loss) | 9901 | €77,265 | €219,977 | +€142,712 | +185% |
| Financial income | 75/76B | €1,442 | €650 | -€792 | -54.9% |
| Recurring financial income | 75 | €1,442 | €650 | -€792 | -54.9% |
| Financial charges | 65/66B | €67,877 | €65,968 | -€1,909 | -2.8% |
| Recurring financial charges | 65 | €67,877 | €65,968 | -€1,909 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €10,830 | €154,659 | +€143,829 | +1,328% |
| Transfer from deferred taxes | 780 | €1,357 | €1,699 | +€341 | +25.2% |
| Transfer to deferred taxes | 680 | - | €7,000 | +€7,000 | |
| Income taxes | 67/77 | €1,478 | €29,353 | +€27,875 | +1,886% |
| Profit (loss) for the period | 9904 | €10,709 | €120,004 | +€109,295 | +1,021% |
| Transfer from tax-exempt reserves | 789 | €4,071 | €5,437 | +€1,365 | +33.5% |
| Transfer to tax-exempt reserves | 689 | - | €28,000 | +€28,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,781 | €97,441 | +€82,660 | +559% |
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 14 October 2026 via checked.be.