Dr. Ilse Janssens: what changed
Dr. Ilse Janssens
Largest movements
- Cash +€249,353
up €249,353 (+444%), from €56,144 to €305,497
mainly Net result for the year (+€116,498) and Receivables within one year (+€101,829)
- Receivables within one year -€101,829
down €101,829 (-99.6%), from €102,276 to €447
- Tangible fixed assets +€4,207
up €4,207 (+950%), from €443 to €4,650
- Reserves +€116,498
up €116,498 (+69.4%), from €167,777 to €284,275
- Tax, wage and social debts +€25,892
up €25,892 (+31.5%), from €82,290 to €108,183
of which Taxes: +€34,578
- Other debts +€6,874
new in 2025: €6,874
- Gross operating margin +€29,194
up €29,194 (+16.9%), from €173,194 to €202,387
- Taxes +€7,664
up €7,664 (+18.9%), from €40,658 to €48,322
- Staff costs +€5,121
up €5,121 (+16.3%), from €31,415 to €36,536
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €262,082 | €413,129 | +€151,046 | +57.6% |
| Fixed assets | 21/28 | €443 | €4,650 | +€4,207 | +950% |
| Tangible fixed assets | 22/27 | €443 | €4,650 | +€4,207 | +950% |
| Plant, machinery and equipment | 23 | €443 | €4,650 | +€4,207 | +950% |
| Current assets | 29/58 | €261,640 | €408,479 | +€146,840 | +56.1% |
| Amounts receivable within one year | 40/41 | €102,276 | €447 | -€101,829 | -99.6% |
| Other amounts receivable | 41 | €102,276 | €447 | -€101,829 | -99.6% |
| Current investments | 50/53 | €100,230 | €100,797 | +€568 | +0.6% |
| Cash at bank and in hand | 54/58 | €56,144 | €305,497 | +€249,353 | +444% |
| Deferred charges and accrued income | 490/1 | €2,990 | €1,738 | -€1,253 | -41.9% |
| Total equity and liabilities | 10/49 | €262,082 | €413,129 | +€151,046 | +57.6% |
| Equity | 10/15 | €172,777 | €289,275 | +€116,498 | +67.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €167,777 | €284,275 | +€116,498 | +69.4% |
| Distributable reserves | 133 | €167,777 | €284,275 | +€116,498 | +69.4% |
| Amounts payable | 17/49 | €89,305 | €123,854 | +€34,549 | +38.7% |
| Amounts payable within one year | 42/48 | €89,305 | €123,854 | +€34,549 | +38.7% |
| Trade debts | 44 | €7,015 | €8,797 | +€1,782 | +25.4% |
| Suppliers | 440/4 | €7,015 | €8,797 | +€1,782 | +25.4% |
| Taxes, remuneration and social security | 45 | €82,290 | €108,183 | +€25,892 | +31.5% |
| Taxes | 450/3 | €65,967 | €100,545 | +€34,578 | +52.4% |
| Remuneration and social security | 454/9 | €16,324 | €7,638 | -€8,686 | -53.2% |
| Other amounts payable | 47/48 | - | €6,874 | +€6,874 | |
| Remuneration, social security and pensions | 62 | €31,415 | €36,536 | +€5,121 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €438 | €1,167 | +€729 | +167% |
| Other operating charges | 640/8 | €505 | €575 | +€69 | +13.7% |
| Gross operating margin | 9900 | €173,194 | €202,387 | +€29,194 | +16.9% |
| Operating profit (loss) | 9901 | €140,835 | €164,110 | +€23,274 | +16.5% |
| Financial income | 75/76B | €342 | €828 | +€486 | +142% |
| Recurring financial income | 75 | €342 | €828 | +€486 | +142% |
| Financial charges | 65/66B | €60 | €117 | +€57 | +94.4% |
| Recurring financial charges | 65 | €60 | €117 | +€57 | +94.4% |
| Profit (loss) for the period before taxes | 9903 | €141,117 | €164,820 | +€23,703 | +16.8% |
| Income taxes | 67/77 | €40,658 | €48,322 | +€7,664 | +18.9% |
| Profit (loss) for the period | 9904 | €100,459 | €116,498 | +€16,039 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,459 | €116,498 | +€16,039 | +16.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.