Dr. Luc JANSSEN: what changed
Dr. Luc JANSSEN
Largest movements
- Cash -€205,628
down €205,628 (-64.4%), from €319,054 to €113,426
mainly Contributions, distributions and other (-€312,407) and Receivables within one year (-€102,553)
- Receivables within one year +€102,553
up €102,553 (+34.8%), from €294,636 to €397,189
of which Other amounts receivable: +€102,314
- Current investments -€82,524
down €82,524 (-82.5%), from €100,000 to €17,476
- Tangible fixed assets -€42,646
down €42,646 (-5.9%), from €721,630 to €678,984
of which Land and buildings: -€41,460
- Reserves -€116,354
down €116,354 (-10.7%), from €1.1m to €966,608
of which Distributable reserves: -€116,354
- Other debts -€75,425
down €75,425 (-19.4%), from €388,196 to €312,771
- Accrued charges and deferred income -€22,928
down €22,928 (-81.9%), from €28,003 to €5,075
- Gross operating margin -€47,462
down €47,462 (-11.6%), from €409,591 to €362,128
- Financial charges -€18,288
down €18,288 (-57.3%), from €31,930 to €13,643
- Financial income +€5,934
up €5,934 (+739%), from €803 to €6,737
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,520,686 | €1,293,272 | -€227,415 | -15.0% |
| Fixed assets | 21/28 | €721,630 | €678,984 | -€42,646 | -5.9% |
| Tangible fixed assets | 22/27 | €721,630 | €678,984 | -€42,646 | -5.9% |
| Land and buildings | 22 | €719,450 | €677,990 | -€41,460 | -5.8% |
| Furniture and vehicles | 24 | €2,180 | €994 | -€1,186 | -54.4% |
| Current assets | 29/58 | €799,056 | €614,287 | -€184,769 | -23.1% |
| Amounts receivable within one year | 40/41 | €294,636 | €397,189 | +€102,553 | +34.8% |
| Trade receivables | 40 | - | €239 | +€239 | |
| Other amounts receivable | 41 | €294,636 | €396,950 | +€102,314 | +34.7% |
| Current investments | 50/53 | €100,000 | €17,476 | -€82,524 | -82.5% |
| Cash at bank and in hand | 54/58 | €319,054 | €113,426 | -€205,628 | -64.4% |
| Deferred charges and accrued income | 490/1 | €85,366 | €86,197 | +€830 | +1.0% |
| Total equity and liabilities | 10/49 | €1,520,686 | €1,293,272 | -€227,415 | -15.0% |
| Equity | 10/15 | €1,086,619 | €970,264 | -€116,354 | -10.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,082,962 | €966,608 | -€116,354 | -10.7% |
| Tax-exempt reserves | 132 | €16,162 | €16,162 | = | 0.0% |
| Distributable reserves | 133 | €1,066,800 | €950,446 | -€116,354 | -10.9% |
| Profit (loss) carried forward | 14 | €2,657 | €2,657 | = | 0.0% |
| Amounts payable | 17/49 | €434,068 | €323,007 | -€111,061 | -25.6% |
| Amounts payable within one year | 42/48 | €406,064 | €317,932 | -€88,133 | -21.7% |
| Trade debts | 44 | €5,368 | €5,161 | -€207 | -3.9% |
| Suppliers | 440/4 | €5,368 | €5,161 | -€207 | -3.9% |
| Taxes, remuneration and social security | 45 | €12,500 | €0 | -€12,500 | -100% |
| Taxes | 450/3 | €12,500 | €0 | -€12,500 | -100% |
| Other amounts payable | 47/48 | €388,196 | €312,771 | -€75,425 | -19.4% |
| Accrued charges and deferred income | 492/3 | €28,003 | €5,075 | -€22,928 | -81.9% |
| Non-recurring operating income | 76A | - | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,966 | €60,330 | -€2,636 | -4.2% |
| Other operating charges | 640/8 | €4,504 | €4,598 | +€94 | +2.1% |
| Gross operating margin | 9900 | €409,591 | €362,128 | -€47,462 | -11.6% |
| Operating profit (loss) | 9901 | €342,120 | €297,200 | -€44,920 | -13.1% |
| Financial income | 75/76B | €803 | €6,737 | +€5,934 | +739% |
| Recurring financial income | 75 | €803 | €6,737 | +€5,934 | +739% |
| Financial charges | 65/66B | €31,930 | €13,643 | -€18,288 | -57.3% |
| Recurring financial charges | 65 | €31,930 | €13,643 | -€18,288 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €310,993 | €290,294 | -€20,699 | -6.7% |
| Income taxes | 67/77 | €96,231 | €94,242 | -€1,990 | -2.1% |
| Profit (loss) for the period | 9904 | €214,762 | €196,053 | -€18,709 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €214,762 | €196,053 | -€18,709 | -8.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.