DE JAEGHERE: what changed
Two fiscal 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 JAEGHERE
Largest movements
- Stocks and contracts +€1.1m
up €1.1m (+87.2%), from €1.3m to €2.4m
of which Contracts in progress: +€1.1m
- Cash +€785,642
up €785,642 (+133.0%), from €590,509 to €1.4m
mainly Trade debts (+€1.7m) and Net result for the year (+€1.1m)
- Receivables within one year +€466,066
up €466,066 (+16.6%), from €2.8m to €3.3m
of which Other amounts receivable: +€271,985
- Tangible fixed assets -€341,771
down €341,771 (-32.5%), from €1.1m to €711,440
of which Plant, machinery and equipment: -€224,496
- Intangible fixed assets -€102,165
down €102,165 (-22.3%), from €458,136 to €355,971
- Trade debts +€1.7m
up €1.7m (+151.7%), from €1.1m to €2.8m
- Reserves +€859,545
up €859,545 (+40.9%), from €2.1m to €3.0m
of which Distributable reserves: +€452,211
- Debts after one year -€282,092
down €282,092 (-28.4%), from €992,608 to €710,516
- Advances received -€178,434
down €178,434 (-63.2%), from €282,512 to €104,078
- Tax, wage and social debts -€176,553
down €176,553 (-42.6%), from €414,427 to €237,874
of which Remuneration and social security: -€124,702
- Gross operating margin +€1.2m
up €1.2m (+35.0%), from €3.3m to €4.5m
- Staff costs +€308,452
up €308,452 (+14.4%), from €2.1m to €2.4m
- Taxes +€147,698
up €147,698 (+88.3%), from €167,246 to €314,944
- Depreciation +€108,627
up €108,627 (+41.2%), from €263,769 to €372,396
- Financial charges +€77,645
up €77,645 (+56.7%), from €136,894 to €214,539
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.
Cash bridge derived
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 | €6,651,132 | €8,606,004 | +€2.0m | +29.4% |
| Fixed assets | 21/28 | €1,884,866 | €1,440,930 | -€443,936 | -23.6% |
| Intangible fixed assets | 21 | €458,136 | €355,971 | -€102,165 | -22.3% |
| Tangible fixed assets | 22/27 | €1,053,210 | €711,440 | -€341,771 | -32.5% |
| Plant, machinery and equipment | 23 | €429,253 | €204,756 | -€224,496 | -52.3% |
| Furniture and vehicles | 24 | €218,745 | €178,718 | -€40,027 | -18.3% |
| Leasing and similar rights | 25 | €218,579 | €156,079 | -€62,500 | -28.6% |
| Other tangible fixed assets | 26 | €186,633 | €171,886 | -€14,747 | -7.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €373,520 | €373,520 | = | 0.0% |
| Current assets | 29/58 | €4,766,266 | €7,165,074 | +€2.4m | +50.3% |
| Stocks and contracts in progress | 3 | €1,296,691 | €2,426,789 | +€1.1m | +87.2% |
| Stocks | 30/36 | €552,327 | €582,018 | +€29,691 | +5.4% |
| Contracts in progress | 37 | €744,364 | €1,844,771 | +€1.1m | +147.8% |
| Amounts receivable within one year | 40/41 | €2,813,901 | €3,279,967 | +€466,066 | +16.6% |
| Trade receivables | 40 | €2,639,046 | €2,833,128 | +€194,081 | +7.4% |
| Other amounts receivable | 41 | €174,854 | €446,839 | +€271,985 | +155.5% |
| Cash at bank and in hand | 54/58 | €590,509 | €1,376,151 | +€785,642 | +133.0% |
| Deferred charges and accrued income | 490/1 | €65,165 | €82,168 | +€17,002 | +26.1% |
| Total equity and liabilities | 10/49 | €6,651,132 | €8,606,004 | +€2.0m | +29.4% |
| Equity | 10/15 | €2,122,210 | €2,981,755 | +€859,545 | +40.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,102,210 | €2,961,755 | +€859,545 | +40.9% |
| Tax-exempt reserves | 132 | €587,201 | €994,535 | +€407,334 | +69.4% |
| Distributable reserves | 133 | €1,515,009 | €1,967,220 | +€452,211 | +29.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,528,922 | €5,624,249 | +€1.1m | +24.2% |
| Amounts payable after more than one year | 17 | €992,608 | €710,516 | -€282,092 | -28.4% |
| Financial debts | 170/4 | €992,608 | €710,516 | -€282,092 | -28.4% |
| Amounts payable within one year | 42/48 | €3,535,523 | €4,912,759 | +€1.4m | +39.0% |
| Current portion of amounts payable after more than one year | 42 | €290,929 | €336,154 | +€45,226 | +15.5% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €1,122,970 | €2,826,649 | +€1.7m | +151.7% |
| Suppliers | 440/4 | €1,122,970 | €2,826,649 | +€1.7m | +151.7% |
| Advances received on contracts in progress | 46 | €282,512 | €104,078 | -€178,434 | -63.2% |
| Taxes, remuneration and social security | 45 | €414,427 | €237,874 | -€176,553 | -42.6% |
| Taxes | 450/3 | €83,784 | €31,933 | -€51,851 | -61.9% |
| Remuneration and social security | 454/9 | €330,643 | €205,941 | -€124,702 | -37.7% |
| Other amounts payable | 47/48 | €1,024,685 | €1,008,003 | -€16,681 | -1.6% |
| Accrued charges and deferred income | 492/3 | €791 | €975 | +€184 | +23.3% |
| Non-recurring operating income | 76A | €496 | €2,900 | +€2,404 | +484.8% |
| Remuneration, social security and pensions | 62 | €2,141,216 | €2,449,669 | +€308,452 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263,769 | €372,396 | +€108,627 | +41.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,715 | €0 | +€8,715 | |
| Other operating charges | 640/8 | €7,462 | €11,888 | +€4,427 | +59.3% |
| Non-recurring operating charges | 66A | €0 | €83,612 | +€83,612 | |
| Gross operating margin | 9900 | €3,325,326 | €4,488,575 | +€1.2m | +35.0% |
| Operating profit (loss) | 9901 | €921,594 | €1,571,010 | +€649,416 | +70.5% |
| Financial income | 75/76B | €81,624 | €68,018 | -€13,606 | -16.7% |
| Recurring financial income | 75 | €81,624 | €68,018 | -€13,606 | -16.7% |
| Financial charges | 65/66B | €136,894 | €214,539 | +€77,645 | +56.7% |
| Recurring financial charges | 65 | €136,894 | €214,539 | +€77,645 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €866,325 | €1,424,489 | +€558,165 | +64.4% |
| Income taxes | 67/77 | €167,246 | €314,944 | +€147,698 | +88.3% |
| Profit (loss) for the period | 9904 | €699,079 | €1,109,545 | +€410,466 | +58.7% |
| Transfer from tax-exempt reserves | 789 | - | €13,666 | +€13,666 | |
| Transfer to tax-exempt reserves | 689 | €252,600 | €421,000 | +€168,400 | +66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €446,479 | €702,211 | +€255,732 | +57.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.