DR. Patrick JENSEN: what changed
Two fiscal 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. Patrick JENSEN
Largest movements
- Cash +€25,691
up €25,691 (+65.0%), from €39,511 to €65,202
mainly Net result for the year (+€33,099) and Deferred charges and accrued income (+€5,092)
- Tangible fixed assets +€8,871
new in 2025: €8,871
of which Other tangible fixed assets: +€5,773
- Receivables within one year +€5,618
new in 2025: €5,618
of which Other amounts receivable: +€5,556
- Deferred charges and accrued income -€5,092
down €5,092 (-33.4%), from €15,226 to €10,135
- Profit (loss) carried forward +€33,099
up €33,099 (+86.4%), from €38,326 to €71,424
- Tax, wage and social debts +€2,277
up €2,277 (+30.2%), from €7,534 to €9,811
- Other debts -€1,262
no longer reported in 2025 (was €1,262)
- Trade debts +€937
up €937 (+35.8%), from €2,616 to €3,553
- Taxes +€4,771
up €4,771 (+63.3%), from €7,534 to €12,304
- Depreciation +€927
new in 2025: €927
- Other operating charges -€586
down €586 (-25.5%), from €2,299 to €1,713
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.
Cash bridge derived
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 | €54,737 | €89,826 | +€35,089 | +64.1% |
| Fixed assets | 21/28 | - | €8,871 | +€8,871 | |
| Tangible fixed assets | 22/27 | - | €8,871 | +€8,871 | |
| Furniture and vehicles | 24 | - | €3,098 | +€3,098 | |
| Other tangible fixed assets | 26 | - | €5,773 | +€5,773 | |
| Current assets | 29/58 | €54,737 | €80,955 | +€26,218 | +47.9% |
| Amounts receivable within one year | 40/41 | - | €5,618 | +€5,618 | |
| Trade receivables | 40 | - | €63 | +€63 | |
| Other amounts receivable | 41 | - | €5,556 | +€5,556 | |
| Cash at bank and in hand | 54/58 | €39,511 | €65,202 | +€25,691 | +65.0% |
| Deferred charges and accrued income | 490/1 | €15,226 | €10,135 | -€5,092 | -33.4% |
| Total equity and liabilities | 10/49 | €54,737 | €89,826 | +€35,089 | +64.1% |
| Equity | 10/15 | €43,326 | €76,424 | +€33,099 | +76.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,326 | €71,424 | +€33,099 | +86.4% |
| Amounts payable | 17/49 | €11,412 | €13,402 | +€1,990 | +17.4% |
| Amounts payable within one year | 42/48 | €11,412 | €13,364 | +€1,953 | +17.1% |
| Trade debts | 44 | €2,616 | €3,553 | +€937 | +35.8% |
| Suppliers | 440/4 | €2,616 | €3,553 | +€937 | +35.8% |
| Taxes, remuneration and social security | 45 | €7,534 | €9,811 | +€2,277 | +30.2% |
| Taxes | 450/3 | €7,534 | €9,811 | +€2,277 | +30.2% |
| Other amounts payable | 47/48 | €1,262 | - | -€1,262 | |
| Accrued charges and deferred income | 492/3 | - | €38 | +€38 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €927 | +€927 | |
| Other operating charges | 640/8 | €2,299 | €1,713 | -€586 | -25.5% |
| Gross operating margin | 9900 | €48,279 | €48,014 | -€266 | -0.6% |
| Operating profit (loss) | 9901 | €45,981 | €45,374 | -€606 | -1.3% |
| Financial income | 75/76B | - | €230 | +€230 | |
| Recurring financial income | 75 | - | €230 | +€230 | |
| Financial charges | 65/66B | €121 | €202 | +€81 | +66.6% |
| Recurring financial charges | 65 | €121 | €202 | +€81 | +66.6% |
| Profit (loss) for the period before taxes | 9903 | €45,860 | €45,403 | -€457 | -1.0% |
| Income taxes | 67/77 | €7,534 | €12,304 | +€4,771 | +63.3% |
| Profit (loss) for the period | 9904 | €38,326 | €33,099 | -€5,227 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,326 | €33,099 | -€5,227 | -13.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.