EMMANUEL JENNES: 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.
EMMANUEL JENNES
Largest movements
- Cash +€94,407
up €94,407 (+306%), from €30,848 to €125,256
mainly Net result for the year (+€92,566) and Tax, wage and social debts (+€31,884)
- Receivables within one year +€34,842
new in 2025: €34,842
- Deferred charges and accrued income +€1,806
up €1,806 (+124%), from €1,454 to €3,260
- Profit (loss) carried forward +€92,566
up €92,566 (+400%), from €23,149 to €115,715
- Tax, wage and social debts +€31,884
up €31,884 (+227%), from €14,066 to €45,949
- Trade debts +€9,037
up €9,037 (+492%), from €1,837 to €10,875
- Other debts -€2,907
no longer reported in 2025 (was €2,907)
- Gross operating margin +€90,870
up €90,870 (+275%), from €33,080 to €123,950
- Taxes +€20,154
up €20,154 (+311%), from €6,485 to €26,639
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 | €43,959 | €174,539 | +€130,580 | +297% |
| Formation expenses | 20 | €371 | - | -€371 | |
| Fixed assets | 21/28 | €11,286 | €11,181 | -€105 | -0.9% |
| Tangible fixed assets | 22/27 | €11,286 | €11,181 | -€105 | -0.9% |
| Plant, machinery and equipment | 23 | €943 | €1,937 | +€994 | +105% |
| Other tangible fixed assets | 26 | €10,343 | €9,245 | -€1,098 | -10.6% |
| Current assets | 29/58 | €32,303 | €163,358 | +€131,055 | +406% |
| Amounts receivable within one year | 40/41 | - | €34,842 | +€34,842 | |
| Other amounts receivable | 41 | - | €34,842 | +€34,842 | |
| Cash at bank and in hand | 54/58 | €30,848 | €125,256 | +€94,407 | +306% |
| Deferred charges and accrued income | 490/1 | €1,454 | €3,260 | +€1,806 | +124% |
| Total equity and liabilities | 10/49 | €43,959 | €174,539 | +€130,580 | +297% |
| Equity | 10/15 | €25,149 | €117,715 | +€92,566 | +368% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,149 | €115,715 | +€92,566 | +400% |
| Amounts payable | 17/49 | €18,810 | €56,824 | +€38,014 | +202% |
| Amounts payable within one year | 42/48 | €18,810 | €56,824 | +€38,014 | +202% |
| Trade debts | 44 | €1,837 | €10,875 | +€9,037 | +492% |
| Suppliers | 440/4 | €1,837 | €10,875 | +€9,037 | +492% |
| Taxes, remuneration and social security | 45 | €14,066 | €45,949 | +€31,884 | +227% |
| Taxes | 450/3 | €14,066 | €45,949 | +€31,884 | +227% |
| Other amounts payable | 47/48 | €2,907 | - | -€2,907 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,464 | €1,827 | +€363 | +24.8% |
| Other operating charges | 640/8 | €387 | €946 | +€559 | +144% |
| Gross operating margin | 9900 | €33,080 | €123,950 | +€90,870 | +275% |
| Operating profit (loss) | 9901 | €31,229 | €121,177 | +€89,948 | +288% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €1,595 | €1,994 | +€399 | +25.0% |
| Recurring financial charges | 65 | €1,595 | €1,994 | +€399 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €29,634 | €119,205 | +€89,571 | +302% |
| Income taxes | 67/77 | €6,485 | €26,639 | +€20,154 | +311% |
| Profit (loss) for the period | 9904 | €23,149 | €92,566 | +€69,417 | +300% |
| Profit (loss) for the period to be appropriated | 9905 | €23,149 | €92,566 | +€69,417 | +300% |
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 22 October 2026 via checked.be.