Dr. Daniël 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. Daniël Janssen
Largest movements
- Receivables after one year +€134,000
up €134,000 (+70.2%), from €191,000 to €325,000
- Deferred charges and accrued income +€76,498
new in 2025: €76,498
- Cash -€28,518
down €28,518 (-11.4%), from €249,456 to €220,938
mainly Receivables after one year (-€134,000) and Deferred charges and accrued income (-€76,498)
- Receivables within one year +€16,929
up €16,929 (+37.0%), from €45,796 to €62,724
of which Trade receivables: +€17,500
- Reserves +€235,408
up €235,408 (+52.7%), from €446,891 to €682,299
- Tax, wage and social debts -€30,336
no longer reported in 2025 (was €30,336)
- Gross operating margin +€40,230
up €40,230 (+14.9%), from €270,399 to €310,629
- Taxes +€10,932
up €10,932 (+16.4%), from €66,704 to €77,636
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 | €488,252 | €693,727 | +€205,474 | +42.1% |
| Fixed assets | 21/28 | €2,000 | €8,566 | +€6,566 | +328.3% |
| Tangible fixed assets | 22/27 | - | €6,566 | +€6,566 | |
| Other tangible fixed assets | 26 | - | €6,566 | +€6,566 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €486,252 | €685,160 | +€198,908 | +40.9% |
| Amounts receivable after more than one year | 29 | €191,000 | €325,000 | +€134,000 | +70.2% |
| Other amounts receivable | 291 | €191,000 | €325,000 | +€134,000 | +70.2% |
| Amounts receivable within one year | 40/41 | €45,796 | €62,724 | +€16,929 | +37.0% |
| Trade receivables | 40 | €42,500 | €60,000 | +€17,500 | +41.2% |
| Other amounts receivable | 41 | €3,296 | €2,724 | -€571 | -17.3% |
| Cash at bank and in hand | 54/58 | €249,456 | €220,938 | -€28,518 | -11.4% |
| Deferred charges and accrued income | 490/1 | - | €76,498 | +€76,498 | |
| Total equity and liabilities | 10/49 | €488,252 | €693,727 | +€205,474 | +42.1% |
| Equity | 10/15 | €451,891 | €687,299 | +€235,408 | +52.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €446,891 | €682,299 | +€235,408 | +52.7% |
| Distributable reserves | 133 | €446,891 | €682,299 | +€235,408 | +52.7% |
| Amounts payable | 17/49 | €36,361 | €6,428 | -€29,934 | -82.3% |
| Amounts payable within one year | 42/48 | €36,361 | €6,428 | -€29,934 | -82.3% |
| Trade debts | 44 | - | €1,635 | +€1,635 | |
| Suppliers | 440/4 | - | €1,635 | +€1,635 | |
| Taxes, remuneration and social security | 45 | €30,336 | - | -€30,336 | |
| Taxes | 450/3 | €30,336 | - | -€30,336 | |
| Other amounts payable | 47/48 | €6,025 | €4,793 | -€1,232 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €646 | +€646 | |
| Other operating charges | 640/8 | €1,537 | €4,447 | +€2,910 | +189.3% |
| Gross operating margin | 9900 | €270,399 | €310,629 | +€40,230 | +14.9% |
| Operating profit (loss) | 9901 | €268,862 | €305,536 | +€36,674 | +13.6% |
| Financial income | 75/76B | €5,730 | €7,740 | +€2,010 | +35.1% |
| Recurring financial income | 75 | €5,730 | €7,740 | +€2,010 | +35.1% |
| Financial charges | 65/66B | €126 | €232 | +€106 | +84.3% |
| Recurring financial charges | 65 | €126 | €232 | +€106 | +84.3% |
| Profit (loss) for the period before taxes | 9903 | €274,466 | €313,044 | +€38,578 | +14.1% |
| Income taxes | 67/77 | €66,704 | €77,636 | +€10,932 | +16.4% |
| Profit (loss) for the period | 9904 | €207,762 | €235,408 | +€27,646 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €207,762 | €235,408 | +€27,646 | +13.3% |
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 10 October 2026 via checked.be.