DR. JAAK BUSSELS: 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. JAAK BUSSELS
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€170,247
down €170,247 (-42.7%), from €398,631 to €228,384
mainly Current investments (-€250,000) and Investment in fixed assets (net) (-€51,155)
- Tangible fixed assets +€51,071
new in 2025: €51,071
- Reserves +€72,137
up €72,137 (+17.2%), from €418,519 to €490,656
- Trade debts +€43,468
up €43,468 (+4,332%), from €1,003 to €44,471
- Tax, wage and social debts +€19,708
up €19,708 (+44.5%), from €44,244 to €63,952
- Gross operating margin -€88,870
down €88,870 (-45.6%), from €194,972 to €106,102
- Taxes -€29,332
down €29,332 (-45.5%), from €64,484 to €35,152
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 | €475,114 | €606,172 | +€131,058 | +27.6% |
| Fixed assets | 21/28 | - | €51,071 | +€51,071 | |
| Tangible fixed assets | 22/27 | - | €51,071 | +€51,071 | |
| Furniture and vehicles | 24 | - | €51,071 | +€51,071 | |
| Current assets | 29/58 | €475,114 | €555,101 | +€79,987 | +16.8% |
| Amounts receivable within one year | 40/41 | €74,211 | €75,037 | +€826 | +1.1% |
| Trade receivables | 40 | €1,607 | €27,227 | +€25,620 | +1,595% |
| Other amounts receivable | 41 | €72,604 | €47,811 | -€24,794 | -34.1% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €398,631 | €228,384 | -€170,247 | -42.7% |
| Deferred charges and accrued income | 490/1 | €2,272 | €1,680 | -€592 | -26.1% |
| Total equity and liabilities | 10/49 | €475,114 | €606,172 | +€131,058 | +27.6% |
| Equity | 10/15 | €424,719 | €496,856 | +€72,137 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €418,519 | €490,656 | +€72,137 | +17.2% |
| Distributable reserves | 133 | €418,519 | €490,656 | +€72,137 | +17.2% |
| Amounts payable | 17/49 | €50,394 | €109,316 | +€58,922 | +117% |
| Amounts payable within one year | 42/48 | €49,315 | €108,423 | +€59,109 | +120% |
| Trade debts | 44 | €1,003 | €44,471 | +€43,468 | +4,332% |
| Suppliers | 440/4 | €1,003 | €44,471 | +€43,468 | +4,332% |
| Taxes, remuneration and social security | 45 | €44,244 | €63,952 | +€19,708 | +44.5% |
| Taxes | 450/3 | €44,244 | €63,952 | +€19,708 | +44.5% |
| Other amounts payable | 47/48 | €4,067 | - | -€4,067 | |
| Accrued charges and deferred income | 492/3 | €1,080 | €893 | -€187 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €84 | +€84 | |
| Other operating charges | 640/8 | €556 | €617 | +€61 | +11.0% |
| Gross operating margin | 9900 | €194,972 | €106,102 | -€88,870 | -45.6% |
| Operating profit (loss) | 9901 | €194,416 | €105,401 | -€89,015 | -45.8% |
| Financial income | 75/76B | €1,254 | €2,382 | +€1,128 | +90.0% |
| Recurring financial income | 75 | €1,254 | €2,382 | +€1,128 | +90.0% |
| Financial charges | 65/66B | €662 | €494 | -€168 | -25.3% |
| Recurring financial charges | 65 | €662 | €494 | -€168 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €195,008 | €107,289 | -€87,720 | -45.0% |
| Income taxes | 67/77 | €64,484 | €35,152 | -€29,332 | -45.5% |
| Profit (loss) for the period | 9904 | €130,524 | €72,137 | -€58,388 | -44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €130,524 | €72,137 | -€58,388 | -44.7% |
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 23 October 2026 via checked.be.