Dr. Philip Jansen: 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. Philip Jansen
Largest movements
- Cash -€133,825
down €133,825 (-87.1%), from €153,646 to €19,821
mainly Contributions, distributions and other (-€90,385) and Other debts (-€68,782)
- Receivables within one year +€12,893
new in 2025: €12,893
of which Trade receivables: +€12,500
- Tangible fixed assets -€5,641
down €5,641 (-2.4%), from €236,848 to €231,208
of which Land and buildings: -€8,597
- Other debts -€68,782
down €68,782 (-25.6%), from €269,051 to €200,269
- Tax, wage and social debts -€28,783
down €28,783 (-77.4%), from €37,195 to €8,412
- Debts after one year -€26,491
down €26,491 (-38.8%), from €68,288 to €41,797
- Gross operating margin +€9,473
up €9,473 (+7.2%), from €131,455 to €140,928
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 | €410,557 | €281,922 | -€128,635 | -31.3% |
| Fixed assets | 21/28 | €237,133 | €231,493 | -€5,641 | -2.4% |
| Tangible fixed assets | 22/27 | €236,848 | €231,208 | -€5,641 | -2.4% |
| Land and buildings | 22 | €223,851 | €215,253 | -€8,597 | -3.8% |
| Plant, machinery and equipment | 23 | €12,997 | €15,954 | +€2,957 | +22.7% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €173,424 | €50,430 | -€122,994 | -70.9% |
| Amounts receivable within one year | 40/41 | - | €12,893 | +€12,893 | |
| Trade receivables | 40 | - | €12,500 | +€12,500 | |
| Other amounts receivable | 41 | - | €393 | +€393 | |
| Cash at bank and in hand | 54/58 | €153,646 | €19,821 | -€133,825 | -87.1% |
| Deferred charges and accrued income | 490/1 | €19,778 | €17,715 | -€2,063 | -10.4% |
| Total equity and liabilities | 10/49 | €410,557 | €281,922 | -€128,635 | -31.3% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable | 17/49 | €408,057 | €279,422 | -€128,635 | -31.5% |
| Amounts payable after more than one year | 17 | €68,288 | €41,797 | -€26,491 | -38.8% |
| Financial debts | 170/4 | €68,288 | €41,797 | -€26,491 | -38.8% |
| Amounts payable within one year | 42/48 | €337,069 | €236,725 | -€100,344 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €25,443 | €26,491 | +€1,049 | +4.1% |
| Trade debts | 44 | €5,380 | €1,553 | -€3,828 | -71.1% |
| Suppliers | 440/4 | €5,380 | €1,553 | -€3,828 | -71.1% |
| Taxes, remuneration and social security | 45 | €37,195 | €8,412 | -€28,783 | -77.4% |
| Taxes | 450/3 | €37,195 | €8,412 | -€28,783 | -77.4% |
| Other amounts payable | 47/48 | €269,051 | €200,269 | -€68,782 | -25.6% |
| Accrued charges and deferred income | 492/3 | €2,700 | €900 | -€1,800 | -66.7% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,852 | €16,470 | -€1,381 | -7.7% |
| Other operating charges | 640/8 | €526 | €539 | +€13 | +2.4% |
| Non-recurring operating charges | 66A | - | €2,618 | +€2,618 | |
| Gross operating margin | 9900 | €131,455 | €140,928 | +€9,473 | +7.2% |
| Operating profit (loss) | 9901 | €113,077 | €121,301 | +€8,223 | +7.3% |
| Financial charges | 65/66B | €5,174 | €5,308 | +€134 | +2.6% |
| Recurring financial charges | 65 | €5,174 | €5,308 | +€134 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €107,903 | €115,993 | +€8,089 | +7.5% |
| Income taxes | 67/77 | €24,457 | €25,608 | +€1,151 | +4.7% |
| Profit (loss) for the period | 9904 | €83,447 | €90,385 | +€6,938 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,447 | €90,385 | +€6,938 | +8.3% |
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 20 October 2026 via checked.be.