Dr. Caroline Janssen: 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. Caroline Janssen
Largest movements
- Cash -€559,497
down €559,497 (-94.1%), from €594,815 to €35,318
mainly Contributions, distributions and other (-€475,000) and Other debts (-€340,245)
- Receivables within one year +€116,000
up €116,000 (+112%), from €103,761 to €219,761
of which Other amounts receivable: +€84,048
- Intangible fixed assets -€43,169
down €43,169 (-100%), from €43,169 to €0
- Tangible fixed assets +€14,454
up €14,454 (+4.2%), from €341,790 to €356,245
of which Land and buildings: +€11,967
- Financial fixed assets -€12,600
down €12,600 (-8.0%), from €158,100 to €145,500
- Other debts -€340,245
down €340,245 (-98.5%), from €345,589 to €5,344
- Reserves -€79,032
down €79,032 (-19.9%), from €397,048 to €318,016
- Debts after one year -€41,053
down €41,053 (-11.2%), from €367,115 to €326,062
- Tax, wage and social debts -€29,091
down €29,091 (-32.1%), from €90,666 to €61,576
- Gross operating margin +€178,634
up €178,634 (+48.3%), from €370,045 to €548,679
- Taxes +€53,835
up €53,835 (+69.9%), from €77,068 to €130,903
- Other operating charges -€26,657
down €26,657 (-93.1%), from €28,637 to €1,980
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 | €1,243,039 | €758,251 | -€484,788 | -39.0% |
| Fixed assets | 21/28 | €543,060 | €501,745 | -€41,315 | -7.6% |
| Intangible fixed assets | 21 | €43,169 | €0 | -€43,169 | -100% |
| Tangible fixed assets | 22/27 | €341,790 | €356,245 | +€14,454 | +4.2% |
| Land and buildings | 22 | €341,790 | €353,757 | +€11,967 | +3.5% |
| Furniture and vehicles | 24 | - | €2,488 | +€2,488 | |
| Financial fixed assets | 28 | €158,100 | €145,500 | -€12,600 | -8.0% |
| Current assets | 29/58 | €699,979 | €256,506 | -€443,473 | -63.4% |
| Amounts receivable within one year | 40/41 | €103,761 | €219,761 | +€116,000 | +112% |
| Trade receivables | 40 | €103,761 | €135,713 | +€31,952 | +30.8% |
| Other amounts receivable | 41 | - | €84,048 | +€84,048 | |
| Cash at bank and in hand | 54/58 | €594,815 | €35,318 | -€559,497 | -94.1% |
| Deferred charges and accrued income | 490/1 | €1,403 | €1,427 | +€24 | +1.7% |
| Total equity and liabilities | 10/49 | €1,243,039 | €758,251 | -€484,788 | -39.0% |
| Equity | 10/15 | €399,548 | €320,516 | -€79,032 | -19.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €397,048 | €318,016 | -€79,032 | -19.9% |
| Distributable reserves | 133 | €397,048 | €318,016 | -€79,032 | -19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €843,491 | €437,735 | -€405,756 | -48.1% |
| Amounts payable after more than one year | 17 | €367,115 | €326,062 | -€41,053 | -11.2% |
| Financial debts | 170/4 | €367,115 | €326,062 | -€41,053 | -11.2% |
| Amounts payable within one year | 42/48 | €476,376 | €111,672 | -€364,704 | -76.6% |
| Current portion of amounts payable after more than one year | 42 | €39,752 | €41,053 | +€1,301 | +3.3% |
| Trade debts | 44 | €369 | €3,699 | +€3,331 | +904% |
| Suppliers | 440/4 | €369 | €3,699 | +€3,331 | +904% |
| Taxes, remuneration and social security | 45 | €90,666 | €61,576 | -€29,091 | -32.1% |
| Taxes | 450/3 | €90,666 | €61,576 | -€29,091 | -32.1% |
| Other amounts payable | 47/48 | €345,589 | €5,344 | -€340,245 | -98.5% |
| Non-recurring operating income | 76A | - | €6,831 | +€6,831 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,091 | €10,429 | -€3,662 | -26.0% |
| Other operating charges | 640/8 | €28,637 | €1,980 | -€26,657 | -93.1% |
| Gross operating margin | 9900 | €370,045 | €548,679 | +€178,634 | +48.3% |
| Operating profit (loss) | 9901 | €327,317 | €536,269 | +€208,953 | +63.8% |
| Financial income | 75/76B | €2,348 | €2,300 | -€48 | -2.0% |
| Recurring financial income | 75 | €2,348 | €2,300 | -€48 | -2.0% |
| Financial charges | 65/66B | €10,680 | €11,698 | +€1,018 | +9.5% |
| Recurring financial charges | 65 | €10,680 | €11,698 | +€1,018 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €318,984 | €526,871 | +€207,887 | +65.2% |
| Income taxes | 67/77 | €77,068 | €130,903 | +€53,835 | +69.9% |
| Profit (loss) for the period | 9904 | €241,917 | €395,968 | +€154,051 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €241,917 | €395,968 | +€154,051 | +63.7% |
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 29 October 2026 via checked.be.