Dr Jan BOON: 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 Jan BOON
Largest movements
- Receivables within one year +€238,761
up €238,761 (+363%), from €65,846 to €304,606
- Current investments -€180,000
no longer reported in 2025 (was €180,000)
- Cash -€43,176
down €43,176 (-51.3%), from €84,110 to €40,934
mainly Receivables within one year (-€238,761) and Contributions, distributions and other (-€94,884)
- Reserves +€12,697
up €12,697 (+2.2%), from €579,558 to €592,255
- Tax, wage and social debts +€6,867
new in 2025: €6,867
- Financial income +€8,510
up €8,510 (+128%), from €6,658 to €15,168
- Gross operating margin +€6,272
up €6,272 (+4.5%), from €138,730 to €145,003
- Taxes +€6,090
up €6,090 (+13.3%), from €45,787 to €51,877
- Other operating charges -€4,058
down €4,058 (-89.7%), from €4,523 to €465
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 | €579,558 | €599,121 | +€19,564 | +3.4% |
| Fixed assets | 21/28 | €98 | - | -€98 | |
| Tangible fixed assets | 22/27 | €98 | - | -€98 | |
| Plant, machinery and equipment | 23 | €98 | - | -€98 | |
| Current assets | 29/58 | €579,460 | €599,121 | +€19,661 | +3.4% |
| Amounts receivable after more than one year | 29 | €245,000 | €245,000 | = | 0.0% |
| Other amounts receivable | 291 | €245,000 | €245,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,846 | €304,606 | +€238,761 | +363% |
| Other amounts receivable | 41 | €65,846 | €304,606 | +€238,761 | +363% |
| Current investments | 50/53 | €180,000 | - | -€180,000 | |
| Cash at bank and in hand | 54/58 | €84,110 | €40,934 | -€43,176 | -51.3% |
| Deferred charges and accrued income | 490/1 | €4,504 | €8,581 | +€4,077 | +90.5% |
| Total equity and liabilities | 10/49 | €579,558 | €599,121 | +€19,564 | +3.4% |
| Equity | 10/15 | €579,558 | €592,255 | +€12,697 | +2.2% |
| Reserves | 13 | €579,558 | €592,255 | +€12,697 | +2.2% |
| Distributable reserves | 133 | €579,558 | €592,255 | +€12,697 | +2.2% |
| Amounts payable | 17/49 | - | €6,867 | +€6,867 | |
| Amounts payable within one year | 42/48 | - | €6,867 | +€6,867 | |
| Taxes, remuneration and social security | 45 | - | €6,867 | +€6,867 | |
| Taxes | 450/3 | - | €6,867 | +€6,867 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €98 | -€606 | -86.1% |
| Other operating charges | 640/8 | €4,523 | €465 | -€4,058 | -89.7% |
| Gross operating margin | 9900 | €138,730 | €145,003 | +€6,272 | +4.5% |
| Operating profit (loss) | 9901 | €133,503 | €144,440 | +€10,936 | +8.2% |
| Financial income | 75/76B | €6,658 | €15,168 | +€8,510 | +128% |
| Recurring financial income | 75 | €6,658 | €15,168 | +€8,510 | +128% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.0% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €140,026 | €159,457 | +€19,431 | +13.9% |
| Income taxes | 67/77 | €45,787 | €51,877 | +€6,090 | +13.3% |
| Profit (loss) for the period | 9904 | €94,239 | €107,580 | +€13,341 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €94,239 | €107,580 | +€13,341 | +14.2% |
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 18 October 2026 via checked.be.