DR. JAN INDESTEEGE: 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 INDESTEEGE
Largest movements
- Current investments +€510,242
up €510,242 (+103%), from €493,341 to €1.0m
- Cash -€446,474
down €446,474 (-56.1%), from €795,694 to €349,220
mainly Current investments (-€510,242) and Trade debts (-€72)
- Receivables within one year -€14,108
down €14,108 (-35.4%), from €39,837 to €25,729
of which Other amounts receivable: -€12,049
- Reserves +€39,304
up €39,304 (+3.2%), from €1.2m to €1.3m
- Gross operating margin -€111,162
down €111,162 (-62.7%), from €177,234 to €66,071
- Taxes -€28,571
down €28,571 (-52.3%), from €54,594 to €26,024
- Financial income -€7,533
down €7,533 (-44.9%), from €16,768 to €9,235
- Financial charges -€5,508
down €5,508 (-77.1%), from €7,147 to €1,639
of which Non-recurring financial charges: -€6,898
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 | €1,358,531 | €1,397,763 | +€39,232 | +2.9% |
| Fixed assets | 21/28 | €23,570 | €18,330 | -€5,241 | -22.2% |
| Tangible fixed assets | 22/27 | €23,570 | €18,330 | -€5,241 | -22.2% |
| Land and buildings | 22 | €5,109 | €3,633 | -€1,476 | -28.9% |
| Plant, machinery and equipment | 23 | €14,133 | €13,114 | -€1,020 | -7.2% |
| Furniture and vehicles | 24 | €4,329 | €1,584 | -€2,745 | -63.4% |
| Current assets | 29/58 | €1,334,960 | €1,379,433 | +€44,473 | +3.3% |
| Amounts receivable within one year | 40/41 | €39,837 | €25,729 | -€14,108 | -35.4% |
| Trade receivables | 40 | €4,223 | €2,164 | -€2,058 | -48.7% |
| Other amounts receivable | 41 | €35,614 | €23,565 | -€12,049 | -33.8% |
| Current investments | 50/53 | €493,341 | €1,003,584 | +€510,242 | +103% |
| Cash at bank and in hand | 54/58 | €795,694 | €349,220 | -€446,474 | -56.1% |
| Deferred charges and accrued income | 490/1 | €6,088 | €900 | -€5,188 | -85.2% |
| Total equity and liabilities | 10/49 | €1,358,531 | €1,397,763 | +€39,232 | +2.9% |
| Equity | 10/15 | €1,356,336 | €1,395,641 | +€39,304 | +2.9% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €1,216,336 | €1,255,641 | +€39,304 | +3.2% |
| Distributable reserves | 133 | €1,216,336 | €1,255,641 | +€39,304 | +3.2% |
| Amounts payable | 17/49 | €2,195 | €2,122 | -€72 | -3.3% |
| Amounts payable within one year | 42/48 | €2,195 | €2,122 | -€72 | -3.3% |
| Trade debts | 44 | €2,195 | €2,122 | -€72 | -3.3% |
| Suppliers | 440/4 | €2,195 | €2,122 | -€72 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,109 | €5,241 | -€869 | -14.2% |
| Other operating charges | 640/8 | €3,196 | €3,098 | -€98 | -3.1% |
| Gross operating margin | 9900 | €177,234 | €66,071 | -€111,162 | -62.7% |
| Operating profit (loss) | 9901 | €167,928 | €57,733 | -€110,196 | -65.6% |
| Financial income | 75/76B | €16,768 | €9,235 | -€7,533 | -44.9% |
| Recurring financial income | 75 | €16,768 | €9,235 | -€7,533 | -44.9% |
| Financial charges | 65/66B | €7,147 | €1,639 | -€5,508 | -77.1% |
| Recurring financial charges | 65 | €249 | €1,639 | +€1,390 | +558% |
| Non-recurring financial charges | 66B | €6,898 | - | -€6,898 | |
| Profit (loss) for the period before taxes | 9903 | €177,549 | €65,328 | -€112,221 | -63.2% |
| Income taxes | 67/77 | €54,594 | €26,024 | -€28,571 | -52.3% |
| Profit (loss) for the period | 9904 | €122,954 | €39,304 | -€83,650 | -68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €122,954 | €39,304 | -€83,650 | -68.0% |
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 25 October 2026 via checked.be.