DENDAUW - JACOB: 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.
DENDAUW - JACOB
Largest movements
- Current investments +€112,122
up €112,122 (+11.7%), from €960,165 to €1.1m
- Cash +€80,321
up €80,321 (+332%), from €24,188 to €104,509
mainly Net result for the year (+€134,848) and Tax, wage and social debts (+€25,153)
- Receivables within one year -€13,589
down €13,589 (-24.5%), from €55,372 to €41,783
of which Trade receivables: -€15,070
- Reserves +€134,848
up €134,848 (+13.4%), from €1.0m to €1.1m
of which Distributable reserves: +€134,848
- Tax, wage and social debts +€25,153
up €25,153 (+843%), from €2,983 to €28,136
- Trade debts +€15,251
up €15,251 (+157%), from €9,727 to €24,978
- Financial income +€292,186
up €292,186 (+2,232%), from €13,088 to €305,275
of which Financial income: +€294,441
- Gross operating margin -€74,624
down €74,624, from €54,105 to -€20,520
- Other operating charges -€31,978
down €31,978 (-95.9%), from €33,353 to €1,375
- Write-downs +€31,914
up €31,914, from -€31,914 to €0
- Taxes +€27,929
up €27,929 (+13,471%), from €207 to €28,136
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 | €1,056,813 | €1,239,679 | +€182,866 | +17.3% |
| Fixed assets | 21/28 | €9,685 | €15,423 | +€5,739 | +59.3% |
| Tangible fixed assets | 22/27 | €9,685 | €15,423 | +€5,739 | +59.3% |
| Furniture and vehicles | 24 | €9,685 | €15,423 | +€5,739 | +59.3% |
| Current assets | 29/58 | €1,047,128 | €1,224,255 | +€177,128 | +16.9% |
| Stocks and contracts in progress | 3 | €4,149 | €1,989 | -€2,160 | -52.1% |
| Stocks | 30/36 | €4,149 | €1,989 | -€2,160 | -52.1% |
| Amounts receivable within one year | 40/41 | €55,372 | €41,783 | -€13,589 | -24.5% |
| Trade receivables | 40 | €53,170 | €38,099 | -€15,070 | -28.3% |
| Other amounts receivable | 41 | €2,202 | €3,683 | +€1,481 | +67.3% |
| Current investments | 50/53 | €960,165 | €1,072,287 | +€112,122 | +11.7% |
| Cash at bank and in hand | 54/58 | €24,188 | €104,509 | +€80,321 | +332% |
| Deferred charges and accrued income | 490/1 | €3,254 | €3,687 | +€433 | +13.3% |
| Total equity and liabilities | 10/49 | €1,056,813 | €1,239,679 | +€182,866 | +17.3% |
| Equity | 10/15 | €1,022,838 | €1,157,686 | +€134,848 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,004,238 | €1,139,086 | +€134,848 | +13.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,004,238 | €1,139,086 | +€134,848 | +13.4% |
| Amounts payable | 17/49 | €33,975 | €81,993 | +€48,018 | +141% |
| Amounts payable within one year | 42/48 | €33,375 | €81,272 | +€47,897 | +144% |
| Financial debts | 43 | €4,011 | €0 | -€4,011 | -100% |
| Credit institutions | 430/8 | €4,011 | €0 | -€4,011 | -100% |
| Trade debts | 44 | €9,727 | €24,978 | +€15,251 | +157% |
| Suppliers | 440/4 | €9,727 | €24,978 | +€15,251 | +157% |
| Taxes, remuneration and social security | 45 | €2,983 | €28,136 | +€25,153 | +843% |
| Taxes | 450/3 | €2,983 | €28,136 | +€25,153 | +843% |
| Other amounts payable | 47/48 | €16,654 | €28,157 | +€11,503 | +69.1% |
| Accrued charges and deferred income | 492/3 | €600 | €721 | +€121 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200 | €3,765 | +€3,565 | +1,784% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€31,914 | €0 | +€31,914 | |
| Other operating charges | 640/8 | €33,353 | €1,375 | -€31,978 | -95.9% |
| Non-recurring operating charges | 66A | - | €1,400 | +€1,400 | |
| Gross operating margin | 9900 | €54,105 | -€20,520 | -€74,624 | |
| Operating profit (loss) | 9901 | €52,466 | -€27,059 | -€79,525 | |
| Financial income | 75/76B | €13,088 | €305,275 | +€292,186 | +2,232% |
| Recurring financial income | 75 | €10,833 | €305,275 | +€294,441 | +2,718% |
| Non-recurring financial income | 76B | €2,255 | €0 | -€2,255 | -100% |
| Financial charges | 65/66B | €104,909 | €115,231 | +€10,322 | +9.8% |
| Recurring financial charges | 65 | €104,909 | €115,231 | +€10,322 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | -€39,354 | €162,985 | +€202,339 | |
| Income taxes | 67/77 | €207 | €28,136 | +€27,929 | +13,471% |
| Profit (loss) for the period | 9904 | -€39,561 | €134,848 | +€174,410 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,561 | €134,848 | +€174,410 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.