Dr. A. Batjoens: 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.
Dr. A. Batjoens
Largest movements
- Cash +€59,276
up €59,276 (+66.0%), from €89,797 to €149,073
mainly Other debts (+€127,949) and Net result for the year (+€62,285)
- Intangible fixed assets -€27,500
down €27,500 (-19.7%), from €139,792 to €112,292
- Deferred charges and accrued income -€14,677
down €14,677 (-24.2%), from €60,735 to €46,058
- Receivables within one year +€11,998
up €11,998 (+764%), from €1,570 to €13,568
of which Other amounts receivable: +€6,144
- Other debts +€127,949
up €127,949 (+11,424%), from €1,120 to €129,069
- Reserves -€78,084
down €78,084 (-37.3%), from €209,434 to €131,350
- Debts after one year -€27,500
down €27,500 (-22.6%), from €121,458 to €93,958
- Gross operating margin +€31,428
up €31,428 (+33.1%), from €95,048 to €126,476
- Taxes +€18,839
up €18,839 (+304%), from €6,187 to €25,027
- Financial charges +€4,108
up €4,108 (+184%), from €2,230 to €6,339
- Depreciation -€3,743
down €3,743 (-10.2%), from €36,732 to €32,989
- Financial income -€1,734
down €1,734 (-74.1%), from €2,340 to €607
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 | €370,831 | €397,378 | +€26,547 | +7.2% |
| Fixed assets | 21/28 | €155,218 | €124,751 | -€30,466 | -19.6% |
| Intangible fixed assets | 21 | €139,792 | €112,292 | -€27,500 | -19.7% |
| Tangible fixed assets | 22/27 | €15,426 | €12,460 | -€2,966 | -19.2% |
| Land and buildings | 22 | €4,751 | €4,449 | -€302 | -6.4% |
| Plant, machinery and equipment | 23 | €9,353 | €6,210 | -€3,144 | -33.6% |
| Furniture and vehicles | 24 | €1,322 | €1,801 | +€480 | +36.3% |
| Current assets | 29/58 | €215,614 | €272,627 | +€57,013 | +26.4% |
| Amounts receivable within one year | 40/41 | €1,570 | €13,568 | +€11,998 | +764% |
| Trade receivables | 40 | - | €5,854 | +€5,854 | |
| Other amounts receivable | 41 | €1,570 | €7,714 | +€6,144 | +391% |
| Current investments | 50/53 | €63,512 | €63,927 | +€415 | +0.7% |
| Cash at bank and in hand | 54/58 | €89,797 | €149,073 | +€59,276 | +66.0% |
| Deferred charges and accrued income | 490/1 | €60,735 | €46,058 | -€14,677 | -24.2% |
| Total equity and liabilities | 10/49 | €370,831 | €397,378 | +€26,547 | +7.2% |
| Equity | 10/15 | €215,437 | €137,362 | -€78,075 | -36.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €209,434 | €131,350 | -€78,084 | -37.3% |
| Distributable reserves | 133 | €209,434 | €131,350 | -€78,084 | -37.3% |
| Profit (loss) carried forward | 14 | €3 | €12 | +€10 | +345% |
| Amounts payable | 17/49 | €155,394 | €260,016 | +€104,622 | +67.3% |
| Amounts payable after more than one year | 17 | €121,458 | €93,958 | -€27,500 | -22.6% |
| Financial debts | 170/4 | €121,458 | €93,958 | -€27,500 | -22.6% |
| Amounts payable within one year | 42/48 | €33,936 | €164,646 | +€130,710 | +385% |
| Current portion of amounts payable after more than one year | 42 | €29,792 | €29,792 | = | 0.0% |
| Trade debts | 44 | €1,787 | €4,452 | +€2,665 | +149% |
| Suppliers | 440/4 | €1,787 | €4,452 | +€2,665 | +149% |
| Taxes, remuneration and social security | 45 | €1,237 | €1,333 | +€96 | +7.7% |
| Taxes | 450/3 | €1,237 | €1,333 | +€96 | +7.7% |
| Other amounts payable | 47/48 | €1,120 | €129,069 | +€127,949 | +11,424% |
| Accrued charges and deferred income | 492/3 | - | €1,412 | +€1,412 | |
| Non-recurring operating income | 76A | €13,512 | €415 | -€13,097 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,732 | €32,989 | -€3,743 | -10.2% |
| Other operating charges | 640/8 | €291 | €444 | +€154 | +52.9% |
| Gross operating margin | 9900 | €95,048 | €126,476 | +€31,428 | +33.1% |
| Operating profit (loss) | 9901 | €58,025 | €93,043 | +€35,018 | +60.3% |
| Financial income | 75/76B | €2,340 | €607 | -€1,734 | -74.1% |
| Recurring financial income | 75 | €2,340 | €607 | -€1,734 | -74.1% |
| Financial charges | 65/66B | €2,230 | €6,339 | +€4,108 | +184% |
| Recurring financial charges | 65 | €2,230 | €6,339 | +€4,108 | +184% |
| Profit (loss) for the period before taxes | 9903 | €58,135 | €87,311 | +€29,176 | +50.2% |
| Income taxes | 67/77 | €6,187 | €25,027 | +€18,839 | +304% |
| Profit (loss) for the period | 9904 | €51,948 | €62,285 | +€10,337 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,948 | €62,285 | +€10,337 | +19.9% |
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 18 October 2026 via checked.be.