Dr. Jana Bekaert: 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. Jana Bekaert
Largest movements
- Receivables within one year -€62,583
down €62,583 (-90.0%), from €69,569 to €6,987
of which Other amounts receivable: -€60,701
- Tangible fixed assets -€21,055
down €21,055 (-19.1%), from €109,973 to €88,918
of which Other tangible fixed assets: -€11,738
- Deferred charges and accrued income -€14,677
down €14,677 (-39.5%), from €37,168 to €22,492
- Cash -€9,863
down €9,863 (-67.8%), from €14,541 to €4,679
mainly Contributions, distributions and other (-€77,752) and Other debts (-€73,976)
- Other debts -€73,976
down €73,976 (-100%), from €73,976 to €0
- Accrued charges and deferred income -€15,350
down €15,350 (-92.5%), from €16,600 to €1,250
- Reserves -€10,795
down €10,795 (-9.9%), from €109,395 to €98,599
- Short-term financial debts -€6,705
down €6,705 (-100%), from €6,705 to €0
- Trade debts -€3,027
down €3,027 (-62.4%), from €4,855 to €1,827
- Gross operating margin -€7,067
down €7,067 (-6.2%), from €114,848 to €107,780
- Financial income -€1,862
down €1,862 (-100.0%), from €1,862 to €1
- Depreciation -€1,214
down €1,214 (-6.0%), from €20,167 to €18,953
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 | €231,252 | €123,075 | -€108,177 | -46.8% |
| Fixed assets | 21/28 | €109,973 | €88,918 | -€21,055 | -19.1% |
| Tangible fixed assets | 22/27 | €109,973 | €88,918 | -€21,055 | -19.1% |
| Plant, machinery and equipment | 23 | €21,510 | €12,557 | -€8,952 | -41.6% |
| Furniture and vehicles | 24 | €3,582 | €3,218 | -€364 | -10.2% |
| Other tangible fixed assets | 26 | €84,881 | €73,143 | -€11,738 | -13.8% |
| Current assets | 29/58 | €121,279 | €34,157 | -€87,122 | -71.8% |
| Amounts receivable within one year | 40/41 | €69,569 | €6,987 | -€62,583 | -90.0% |
| Trade receivables | 40 | €1,882 | €0 | -€1,882 | -100% |
| Other amounts receivable | 41 | €67,687 | €6,987 | -€60,701 | -89.7% |
| Cash at bank and in hand | 54/58 | €14,541 | €4,679 | -€9,863 | -67.8% |
| Deferred charges and accrued income | 490/1 | €37,168 | €22,492 | -€14,677 | -39.5% |
| Total equity and liabilities | 10/49 | €231,252 | €123,075 | -€108,177 | -46.8% |
| Equity | 10/15 | €127,995 | €117,199 | -€10,795 | -8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,395 | €98,599 | -€10,795 | -9.9% |
| Distributable reserves | 133 | €109,395 | €98,599 | -€10,795 | -9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €103,257 | €5,876 | -€97,381 | -94.3% |
| Amounts payable within one year | 42/48 | €86,657 | €4,626 | -€82,031 | -94.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €6,705 | €0 | -€6,705 | -100% |
| Credit institutions | 430/8 | €6,705 | €0 | -€6,705 | -100% |
| Trade debts | 44 | €4,855 | €1,827 | -€3,027 | -62.4% |
| Suppliers | 440/4 | €4,855 | €1,827 | -€3,027 | -62.4% |
| Taxes, remuneration and social security | 45 | €1,121 | €2,798 | +€1,677 | +150% |
| Taxes | 450/3 | €218 | €2,798 | +€2,580 | +1,181% |
| Remuneration and social security | 454/9 | €903 | €0 | -€903 | -100% |
| Other amounts payable | 47/48 | €73,976 | €0 | -€73,976 | -100% |
| Accrued charges and deferred income | 492/3 | €16,600 | €1,250 | -€15,350 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,167 | €18,953 | -€1,214 | -6.0% |
| Other operating charges | 640/8 | €1,105 | €1,689 | +€584 | +52.8% |
| Gross operating margin | 9900 | €114,848 | €107,780 | -€7,067 | -6.2% |
| Operating profit (loss) | 9901 | €93,576 | €87,139 | -€6,437 | -6.9% |
| Financial income | 75/76B | €1,862 | €1 | -€1,862 | -100.0% |
| Recurring financial income | 75 | €1,862 | €1 | -€1,862 | -100.0% |
| Financial charges | 65/66B | €1,244 | €385 | -€859 | -69.1% |
| Recurring financial charges | 65 | €1,244 | €385 | -€859 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €94,194 | €86,755 | -€7,440 | -7.9% |
| Income taxes | 67/77 | €20,218 | €19,798 | -€420 | -2.1% |
| Profit (loss) for the period | 9904 | €73,976 | €66,956 | -€7,019 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,976 | €66,956 | -€7,019 | -9.5% |
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 29 October 2026 via checked.be.