DR. Ingeborg JACOBS: 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. Ingeborg JACOBS
Largest movements
- Cash +€102,908
up €102,908 (+37.2%), from €276,940 to €379,847
mainly Net result for the year (+€189,456) and Depreciation (+€60,730)
- Intangible fixed assets -€36,000
down €36,000 (-30.8%), from €117,000 to €81,000
- Tangible fixed assets +€16,874
up €16,874 (+6.5%), from €258,821 to €275,695
of which Furniture and vehicles: +€28,623
- Profit (loss) carried forward +€189,456
up €189,456, from €0 to €189,456
- Other debts -€51,961
down €51,961 (-76.7%), from €67,751 to €15,789
- Current portion of long-term debt -€42,177
down €42,177 (-85.4%), from €49,382 to €7,204
- Tax, wage and social debts -€12,970
down €12,970 (-38.5%), from €33,709 to €20,740
of which Taxes: -€10,150
- Gross operating margin +€30,210
up €30,210 (+10.8%), from €279,783 to €309,993
- Taxes -€19,618
down €19,618 (-30.0%), from €65,352 to €45,734
- Staff costs +€4,739
up €4,739 (+41.3%), from €11,484 to €16,223
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 | €749,668 | €831,064 | +€81,396 | +10.9% |
| Fixed assets | 21/28 | €375,821 | €356,695 | -€19,126 | -5.1% |
| Intangible fixed assets | 21 | €117,000 | €81,000 | -€36,000 | -30.8% |
| Tangible fixed assets | 22/27 | €258,821 | €275,695 | +€16,874 | +6.5% |
| Land and buildings | 22 | €250,765 | €237,656 | -€13,109 | -5.2% |
| Plant, machinery and equipment | 23 | €3,689 | €3,010 | -€679 | -18.4% |
| Furniture and vehicles | 24 | €1,317 | €29,939 | +€28,623 | +2,174% |
| Other tangible fixed assets | 26 | €3,050 | €5,090 | +€2,040 | +66.9% |
| Current assets | 29/58 | €373,847 | €474,369 | +€100,522 | +26.9% |
| Amounts receivable after more than one year | 29 | €63,260 | €63,260 | = | 0.0% |
| Trade receivables | 290 | €13,260 | €13,260 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €451 | €0 | -€451 | -100% |
| Trade receivables | 40 | €451 | €0 | -€451 | -100% |
| Current investments | 50/53 | €25,000 | €20,000 | -€5,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €276,940 | €379,847 | +€102,908 | +37.2% |
| Deferred charges and accrued income | 490/1 | €8,197 | €11,262 | +€3,065 | +37.4% |
| Total equity and liabilities | 10/49 | €749,668 | €831,064 | +€81,396 | +10.9% |
| Equity | 10/15 | €593,640 | €783,096 | +€189,456 | +31.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €575,040 | €575,040 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €575,040 | €575,040 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €189,456 | +€189,456 | |
| Amounts payable | 17/49 | €156,028 | €47,969 | -€108,060 | -69.3% |
| Amounts payable after more than one year | 17 | €755 | €0 | -€755 | -100% |
| Financial debts | 170/4 | €755 | €0 | -€755 | -100% |
| Amounts payable within one year | 42/48 | €155,273 | €47,969 | -€107,304 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €49,382 | €7,204 | -€42,177 | -85.4% |
| Trade debts | 44 | €4,432 | €4,235 | -€196 | -4.4% |
| Suppliers | 440/4 | €4,432 | €4,235 | -€196 | -4.4% |
| Taxes, remuneration and social security | 45 | €33,709 | €20,740 | -€12,970 | -38.5% |
| Taxes | 450/3 | €29,461 | €19,310 | -€10,150 | -34.5% |
| Remuneration and social security | 454/9 | €4,249 | €1,429 | -€2,819 | -66.4% |
| Other amounts payable | 47/48 | €67,751 | €15,789 | -€51,961 | -76.7% |
| Non-recurring operating income | 76A | - | €10,597 | +€10,597 | |
| Remuneration, social security and pensions | 62 | €11,484 | €16,223 | +€4,739 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,146 | €60,730 | +€2,584 | +4.4% |
| Other operating charges | 640/8 | €3,274 | €1,933 | -€1,341 | -41.0% |
| Gross operating margin | 9900 | €279,783 | €309,993 | +€30,210 | +10.8% |
| Operating profit (loss) | 9901 | €206,879 | €231,107 | +€24,229 | +11.7% |
| Financial income | 75/76B | €6,713 | €4,677 | -€2,036 | -30.3% |
| Recurring financial income | 75 | €6,713 | €4,677 | -€2,036 | -30.3% |
| Financial charges | 65/66B | €1,416 | €594 | -€821 | -58.0% |
| Recurring financial charges | 65 | €1,416 | €594 | -€821 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €212,176 | €235,190 | +€23,014 | +10.8% |
| Income taxes | 67/77 | €65,352 | €45,734 | -€19,618 | -30.0% |
| Profit (loss) for the period | 9904 | €146,824 | €189,456 | +€42,632 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,824 | €189,456 | +€42,632 | +29.0% |
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 14 October 2026 via checked.be.