DR. JACOBS WALTER: 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. JACOBS WALTER
Largest movements
- Cash +€31,437
up €31,437 (+275%), from €11,419 to €42,856
mainly Net result for the year (+€26,833) and Tax, wage and social debts (+€19,549)
- Receivables within one year +€16,602
up €16,602 (+41.8%), from €39,713 to €56,315
of which Other amounts receivable: +€14,696
- Tangible fixed assets -€2,548
down €2,548 (-39.4%), from €6,474 to €3,926
of which Land and buildings: -€1,687
- Stocks and contracts -€1,600
down €1,600 (-18.1%), from €8,850 to €7,250
- Reserves +€26,833
up €26,833 (+86.2%), from €31,119 to €57,952
of which Distributable reserves: +€26,833
- Tax, wage and social debts +€19,549
up €19,549 (+1,178%), from €1,659 to €21,208
of which Taxes: +€17,388
- Trade debts -€2,491
down €2,491 (-9.6%), from €25,927 to €23,437
- Gross operating margin +€37,936
up €37,936 (+111%), from €34,136 to €72,072
- Taxes +€17,388
new in 2025: €17,388
- Staff costs +€7,913
up €7,913 (+60.5%), from €13,071 to €20,985
- Other operating charges -€1,552
down €1,552 (-31.0%), from €5,006 to €3,454
- Depreciation -€972
down €972 (-27.6%), from €3,520 to €2,548
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 | €66,456 | €110,347 | +€43,891 | +66.0% |
| Fixed assets | 21/28 | €6,474 | €3,926 | -€2,548 | -39.4% |
| Tangible fixed assets | 22/27 | €6,474 | €3,926 | -€2,548 | -39.4% |
| Land and buildings | 22 | €5,613 | €3,926 | -€1,687 | -30.1% |
| Other tangible fixed assets | 26 | €861 | - | -€861 | |
| Current assets | 29/58 | €59,982 | €106,421 | +€46,439 | +77.4% |
| Stocks and contracts in progress | 3 | €8,850 | €7,250 | -€1,600 | -18.1% |
| Stocks | 30/36 | €8,850 | €7,250 | -€1,600 | -18.1% |
| Amounts receivable within one year | 40/41 | €39,713 | €56,315 | +€16,602 | +41.8% |
| Trade receivables | 40 | - | €1,906 | +€1,906 | |
| Other amounts receivable | 41 | €39,713 | €54,409 | +€14,696 | +37.0% |
| Cash at bank and in hand | 54/58 | €11,419 | €42,856 | +€31,437 | +275% |
| Total equity and liabilities | 10/49 | €66,456 | €110,347 | +€43,891 | +66.0% |
| Equity | 10/15 | €38,870 | €65,703 | +€26,833 | +69.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,119 | €57,952 | +€26,833 | +86.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,259 | €56,092 | +€26,833 | +91.7% |
| Profit (loss) carried forward | 14 | -€4,649 | -€4,649 | = | 0.0% |
| Amounts payable | 17/49 | €27,587 | €44,644 | +€17,058 | +61.8% |
| Amounts payable within one year | 42/48 | €27,587 | €44,644 | +€17,058 | +61.8% |
| Trade debts | 44 | €25,927 | €23,437 | -€2,491 | -9.6% |
| Suppliers | 440/4 | €25,927 | €23,437 | -€2,491 | -9.6% |
| Taxes, remuneration and social security | 45 | €1,659 | €21,208 | +€19,549 | +1,178% |
| Taxes | 450/3 | - | €17,388 | +€17,388 | |
| Remuneration and social security | 454/9 | €1,659 | €3,820 | +€2,161 | +130% |
| Remuneration, social security and pensions | 62 | €13,071 | €20,985 | +€7,913 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,520 | €2,548 | -€972 | -27.6% |
| Other operating charges | 640/8 | €5,006 | €3,454 | -€1,552 | -31.0% |
| Gross operating margin | 9900 | €34,136 | €72,072 | +€37,936 | +111% |
| Operating profit (loss) | 9901 | €12,539 | €45,086 | +€32,547 | +260% |
| Financial income | 75/76B | €114 | - | -€114 | |
| Recurring financial income | 75 | €114 | - | -€114 | |
| Financial charges | 65/66B | €690 | €865 | +€174 | +25.3% |
| Recurring financial charges | 65 | €690 | €865 | +€174 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €11,962 | €44,221 | +€32,259 | +270% |
| Income taxes | 67/77 | - | €17,388 | +€17,388 | |
| Profit (loss) for the period | 9904 | €11,962 | €26,833 | +€14,871 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €11,962 | €26,833 | +€14,871 | +124% |
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 16 October 2026 via checked.be.