FRANK JANS: 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.
FRANK JANS
Largest movements
- Stocks and contracts -€162,830
down €162,830 (-28.0%), from €581,447 to €418,617
- Cash +€144,416
up €144,416 (+127%), from €113,852 to €258,268
mainly Stocks and contracts (+€162,830) and Receivables within one year (+€63,027)
- Receivables within one year -€63,027
down €63,027 (-61.4%), from €102,605 to €39,578
of which Trade receivables: -€70,699
- Tangible fixed assets +€28,555
up €28,555 (+45.9%), from €62,248 to €90,802
of which Furniture and vehicles: +€22,672
- Trade debts -€88,929
down €88,929 (-93.6%), from €94,997 to €6,068
- Reserves +€53,031
up €53,031 (+7.8%), from €679,947 to €732,978
- Other debts -€15,931
down €15,931 (-40.6%), from €39,267 to €23,337
- Short-term financial debts -€12,167
down €12,167 (-89.2%), from €13,643 to €1,475
- Gross operating margin -€79,840
down €79,840 (-27.0%), from €295,509 to €215,669
- Taxes -€27,686
down €27,686 (-57.0%), from €48,610 to €20,923
- Depreciation +€5,267
up €5,267 (+15.2%), from €34,739 to €40,006
- Staff costs +€5,021
up €5,021 (+5.9%), from €84,574 to €89,595
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 | €871,910 | €815,404 | -€56,506 | -6.5% |
| Fixed assets | 21/28 | €69,692 | €94,247 | +€24,555 | +35.2% |
| Intangible fixed assets | 21 | €7,310 | €3,310 | -€4,000 | -54.7% |
| Tangible fixed assets | 22/27 | €62,248 | €90,802 | +€28,555 | +45.9% |
| Land and buildings | 22 | €2,069 | €1,197 | -€872 | -42.1% |
| Plant, machinery and equipment | 23 | €3,268 | €11,924 | +€8,656 | +265% |
| Furniture and vehicles | 24 | €50,399 | €73,071 | +€22,672 | +45.0% |
| Other tangible fixed assets | 26 | €6,511 | €4,610 | -€1,901 | -29.2% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €802,217 | €721,157 | -€81,060 | -10.1% |
| Stocks and contracts in progress | 3 | €581,447 | €418,617 | -€162,830 | -28.0% |
| Stocks | 30/36 | €581,447 | €418,617 | -€162,830 | -28.0% |
| Amounts receivable within one year | 40/41 | €102,605 | €39,578 | -€63,027 | -61.4% |
| Trade receivables | 40 | €90,363 | €19,664 | -€70,699 | -78.2% |
| Other amounts receivable | 41 | €12,242 | €19,914 | +€7,672 | +62.7% |
| Cash at bank and in hand | 54/58 | €113,852 | €258,268 | +€144,416 | +127% |
| Deferred charges and accrued income | 490/1 | €4,314 | €4,694 | +€380 | +8.8% |
| Total equity and liabilities | 10/49 | €871,910 | €815,404 | -€56,506 | -6.5% |
| Equity | 10/15 | €700,407 | €753,438 | +€53,031 | +7.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €679,947 | €732,978 | +€53,031 | +7.8% |
| Distributable reserves | 133 | €679,947 | €732,978 | +€53,031 | +7.8% |
| Amounts payable | 17/49 | €171,503 | €61,966 | -€109,536 | -63.9% |
| Amounts payable within one year | 42/48 | €171,503 | €61,966 | -€109,536 | -63.9% |
| Financial debts | 43 | €13,643 | €1,475 | -€12,167 | -89.2% |
| Credit institutions | 430/8 | €13,643 | €1,475 | -€12,167 | -89.2% |
| Trade debts | 44 | €94,997 | €6,068 | -€88,929 | -93.6% |
| Suppliers | 440/4 | €94,997 | €6,068 | -€88,929 | -93.6% |
| Taxes, remuneration and social security | 45 | €23,595 | €31,087 | +€7,491 | +31.7% |
| Taxes | 450/3 | €14,793 | €21,922 | +€7,129 | +48.2% |
| Remuneration and social security | 454/9 | €8,803 | €9,165 | +€362 | +4.1% |
| Other amounts payable | 47/48 | €39,267 | €23,337 | -€15,931 | -40.6% |
| Remuneration, social security and pensions | 62 | €84,574 | €89,595 | +€5,021 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,739 | €40,006 | +€5,267 | +15.2% |
| Other operating charges | 640/8 | €2,978 | €3,115 | +€137 | +4.6% |
| Gross operating margin | 9900 | €295,509 | €215,669 | -€79,840 | -27.0% |
| Operating profit (loss) | 9901 | €173,218 | €82,952 | -€90,265 | -52.1% |
| Financial income | 75/76B | €1,261 | €793 | -€467 | -37.1% |
| Recurring financial income | 75 | €1,261 | €793 | -€467 | -37.1% |
| Financial charges | 65/66B | €10,189 | €9,792 | -€397 | -3.9% |
| Recurring financial charges | 65 | €10,189 | €8,743 | -€1,446 | -14.2% |
| Non-recurring financial charges | 66B | - | €1,049 | +€1,049 | |
| Profit (loss) for the period before taxes | 9903 | €164,290 | €73,954 | -€90,336 | -55.0% |
| Income taxes | 67/77 | €48,610 | €20,923 | -€27,686 | -57.0% |
| Profit (loss) for the period | 9904 | €115,680 | €53,031 | -€62,649 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €115,680 | €53,031 | -€62,649 | -54.2% |
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 24 October 2026 via checked.be.