DR. ANNICK JANSSENS: 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. ANNICK JANSSENS
Largest movements
- Current investments +€15,000
up €15,000 (+6.3%), from €240,000 to €255,000
- Tangible fixed assets -€10,324
down €10,324 (-10.0%), from €103,184 to €92,860
of which Furniture and vehicles: -€10,327
- Receivables within one year -€5,790
down €5,790 (-100%), from €5,790 to €0
- Reserves +€52,214
up €52,214 (+19.4%), from €268,938 to €321,152
- Other debts -€46,271
down €46,271 (-35.7%), from €129,605 to €83,334
- Debts after one year -€8,723
down €8,723 (-16.3%), from €53,604 to €44,882
- Gross operating margin +€20,217
up €20,217 (+27.4%), from €73,698 to €93,915
- Depreciation +€8,141
up €8,141 (+66.2%), from €12,297 to €20,438
- Financial charges -€7,989
down €7,989 (-51.7%), from €15,450 to €7,461
- Taxes +€3,810
up €3,810 (+25.7%), from €14,837 to €18,647
- Financial income -€3,312
down €3,312 (-34.1%), from €9,723 to €6,411
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 | €484,095 | €484,007 | -€88 | 0.0% |
| Fixed assets | 21/28 | €103,184 | €92,860 | -€10,324 | -10.0% |
| Tangible fixed assets | 22/27 | €103,184 | €92,860 | -€10,324 | -10.0% |
| Land and buildings | 22 | €52,411 | €53,377 | +€966 | +1.8% |
| Plant, machinery and equipment | 23 | €835 | €418 | -€418 | -50.0% |
| Furniture and vehicles | 24 | €48,417 | €38,090 | -€10,327 | -21.3% |
| Other tangible fixed assets | 26 | €1,521 | €975 | -€546 | -35.9% |
| Current assets | 29/58 | €380,910 | €391,147 | +€10,236 | +2.7% |
| Amounts receivable within one year | 40/41 | €5,790 | €0 | -€5,790 | -100% |
| Other amounts receivable | 41 | €5,790 | €0 | -€5,790 | -100% |
| Current investments | 50/53 | €240,000 | €255,000 | +€15,000 | +6.3% |
| Cash at bank and in hand | 54/58 | €129,317 | €131,837 | +€2,519 | +1.9% |
| Deferred charges and accrued income | 490/1 | €5,804 | €4,310 | -€1,493 | -25.7% |
| Total equity and liabilities | 10/49 | €484,095 | €484,007 | -€88 | 0.0% |
| Equity | 10/15 | €281,338 | €333,552 | +€52,214 | +18.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €268,938 | €321,152 | +€52,214 | +19.4% |
| Distributable reserves | 133 | €268,938 | €321,152 | +€52,214 | +19.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €202,757 | €150,455 | -€52,302 | -25.8% |
| Amounts payable after more than one year | 17 | €53,604 | €44,882 | -€8,723 | -16.3% |
| Financial debts | 170/4 | €53,604 | €44,882 | -€8,723 | -16.3% |
| Amounts payable within one year | 42/48 | €148,333 | €103,070 | -€45,263 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €8,539 | €8,723 | +€184 | +2.2% |
| Trade debts | 44 | €268 | €509 | +€241 | +89.8% |
| Suppliers | 440/4 | €268 | €509 | +€241 | +89.8% |
| Taxes, remuneration and social security | 45 | €9,921 | €10,505 | +€583 | +5.9% |
| Taxes | 450/3 | €7,821 | €8,405 | +€583 | +7.5% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €129,605 | €83,334 | -€46,271 | -35.7% |
| Accrued charges and deferred income | 492/3 | €819 | €2,503 | +€1,684 | +206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,297 | €20,438 | +€8,141 | +66.2% |
| Other operating charges | 640/8 | €1,623 | €1,566 | -€57 | -3.5% |
| Gross operating margin | 9900 | €73,698 | €93,915 | +€20,217 | +27.4% |
| Operating profit (loss) | 9901 | €59,778 | €71,911 | +€12,133 | +20.3% |
| Financial income | 75/76B | €9,723 | €6,411 | -€3,312 | -34.1% |
| Recurring financial income | 75 | €9,723 | €6,411 | -€3,312 | -34.1% |
| Financial charges | 65/66B | €15,450 | €7,461 | -€7,989 | -51.7% |
| Recurring financial charges | 65 | €15,450 | €7,461 | -€7,989 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €54,051 | €70,860 | +€16,810 | +31.1% |
| Income taxes | 67/77 | €14,837 | €18,647 | +€3,810 | +25.7% |
| Profit (loss) for the period | 9904 | €39,214 | €52,214 | +€13,000 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,214 | €52,214 | +€13,000 | +33.2% |
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 28 October 2026 via checked.be.