Dr. J. Bijnens: 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. J. Bijnens
Largest movements
- Receivables after one year +€946,459
new in 2025: €946,459
- Tangible fixed assets +€916,879
up €916,879 (+14,473%), from €6,335 to €923,214
of which Land and buildings: +€917,389
- Receivables within one year +€116,049
up €116,049 (+174%), from €66,781 to €182,830
of which Other amounts receivable: +€78,623
- Cash -€66,955
down €66,955 (-57.7%), from €115,989 to €49,034
mainly Investment in fixed assets (net) (-€1.0m) and Receivables after one year (-€946,459)
- Debts after one year +€1.9m
new in 2025: €1.9m
- Current portion of long-term debt +€84,771
new in 2025: €84,771
- Trade debts +€43,013
up €43,013 (+1,292%), from €3,328 to €46,341
- Profit (loss) carried forward -€33,008
new in 2025: -€33,008
- Tax, wage and social debts -€30,620
down €30,620 (-87.3%), from €35,076 to €4,456
of which Taxes: -€33,620
- Depreciation +€110,892
up €110,892 (+5,149%), from €2,153 to €113,045
- Taxes -€34,359
down €34,359 (-99.6%), from €34,499 to €140
- Gross operating margin -€23,628
down €23,628 (-20.1%), from €117,660 to €94,033
- Financial charges +€14,060
up €14,060 (+4,798%), from €293 to €14,353
- Other operating charges +€2,803
up €2,803 (+754%), from €372 to €3,174
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 | €245,974 | €2,180,063 | +€1.9m | +786% |
| Fixed assets | 21/28 | €6,335 | €923,214 | +€916,879 | +14,473% |
| Tangible fixed assets | 22/27 | €6,335 | €923,214 | +€916,879 | +14,473% |
| Land and buildings | 22 | - | €917,389 | +€917,389 | |
| Plant, machinery and equipment | 23 | €6,087 | €4,020 | -€2,067 | -34.0% |
| Furniture and vehicles | 24 | €248 | €1,805 | +€1,557 | +627% |
| Current assets | 29/58 | €239,639 | €1,256,848 | +€1.0m | +424% |
| Amounts receivable after more than one year | 29 | - | €946,459 | +€946,459 | |
| Other amounts receivable | 291 | - | €946,459 | +€946,459 | |
| Amounts receivable within one year | 40/41 | €66,781 | €182,830 | +€116,049 | +174% |
| Trade receivables | 40 | €3,529 | €40,954 | +€37,426 | +1,061% |
| Other amounts receivable | 41 | €63,252 | €141,875 | +€78,623 | +124% |
| Cash at bank and in hand | 54/58 | €115,989 | €49,034 | -€66,955 | -57.7% |
| Deferred charges and accrued income | 490/1 | €56,869 | €78,526 | +€21,657 | +38.1% |
| Total equity and liabilities | 10/49 | €245,974 | €2,180,063 | +€1.9m | +786% |
| Equity | 10/15 | €206,676 | €173,667 | -€33,008 | -16.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €204,176 | €204,176 | = | 0.0% |
| Distributable reserves | 133 | €204,176 | €204,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€33,008 | -€33,008 | |
| Amounts payable | 17/49 | €39,298 | €2,006,395 | +€2.0m | +5,006% |
| Amounts payable after more than one year | 17 | - | €1,870,561 | +€1.9m | |
| Financial debts | 170/4 | - | €1,870,561 | +€1.9m | |
| Amounts payable within one year | 42/48 | €39,122 | €135,768 | +€96,647 | +247% |
| Current portion of amounts payable after more than one year | 42 | - | €84,771 | +€84,771 | |
| Trade debts | 44 | €3,328 | €46,341 | +€43,013 | +1,292% |
| Suppliers | 440/4 | €3,328 | €46,341 | +€43,013 | +1,292% |
| Taxes, remuneration and social security | 45 | €35,076 | €4,456 | -€30,620 | -87.3% |
| Taxes | 450/3 | €35,076 | €1,456 | -€33,620 | -95.8% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €717 | €200 | -€517 | -72.0% |
| Accrued charges and deferred income | 492/3 | €177 | €66 | -€111 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,153 | €113,045 | +€110,892 | +5,149% |
| Other operating charges | 640/8 | €372 | €3,174 | +€2,803 | +754% |
| Gross operating margin | 9900 | €117,660 | €94,033 | -€23,628 | -20.1% |
| Operating profit (loss) | 9901 | €115,135 | -€22,187 | -€137,322 | |
| Financial income | 75/76B | €2,686 | €3,671 | +€985 | +36.7% |
| Recurring financial income | 75 | €2,686 | €3,671 | +€985 | +36.7% |
| Financial charges | 65/66B | €293 | €14,353 | +€14,060 | +4,798% |
| Recurring financial charges | 65 | €293 | €14,353 | +€14,060 | +4,798% |
| Profit (loss) for the period before taxes | 9903 | €117,529 | -€32,868 | -€150,397 | |
| Income taxes | 67/77 | €34,499 | €140 | -€34,359 | -99.6% |
| Profit (loss) for the period | 9904 | €83,030 | -€33,008 | -€116,038 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,030 | -€33,008 | -€116,038 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.