J. CALLENS: 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.
J. CALLENS
Largest movements
- Cash -€61,081
down €61,081 (-43.1%), from €141,653 to €80,572
mainly Trade debts (-€166,044) and Investment in fixed assets (net) (-€38,406)
- Receivables within one year -€38,074
down €38,074 (-29.5%), from €128,960 to €90,886
of which Trade receivables: -€49,581
- Stocks and contracts -€25,112
down €25,112 (-100.0%), from €25,112 to €0
- Trade debts -€166,044
down €166,044 (-85.4%), from €194,445 to €28,401
- Reserves +€76,297
up €76,297 (+12.5%), from €611,983 to €688,281
- Tax, wage and social debts -€19,684
down €19,684 (-30.6%), from €64,420 to €44,735
of which Remuneration and social security: -€34,158
- Staff costs -€120,880
down €120,880 (-30.3%), from €399,434 to €278,554
- Gross operating margin -€89,084
down €89,084 (-17.3%), from €515,382 to €426,298
- Taxes +€8,697
up €8,697 (+25.9%), from €33,619 to €42,315
- Financial income -€8,375
down €8,375 (-25.7%), from €32,553 to €24,178
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 | €1,607,155 | €1,496,002 | -€111,153 | -6.9% |
| Fixed assets | 21/28 | €551,601 | €557,767 | +€6,166 | +1.1% |
| Tangible fixed assets | 22/27 | €548,316 | €555,932 | +€7,616 | +1.4% |
| Land and buildings | 22 | €459,266 | €444,274 | -€14,991 | -3.3% |
| Plant, machinery and equipment | 23 | €33,497 | €66,013 | +€32,516 | +97.1% |
| Furniture and vehicles | 24 | €46,482 | €25,208 | -€21,273 | -45.8% |
| Other tangible fixed assets | 26 | €9,072 | €20,436 | +€11,364 | +125.3% |
| Financial fixed assets | 28 | €3,285 | €1,835 | -€1,450 | -44.1% |
| Current assets | 29/58 | €1,055,554 | €938,235 | -€117,319 | -11.1% |
| Stocks and contracts in progress | 3 | €25,112 | €0 | -€25,112 | -100.0% |
| Stocks | 30/36 | €25,112 | €0 | -€25,112 | -100.0% |
| Amounts receivable within one year | 40/41 | €128,960 | €90,886 | -€38,074 | -29.5% |
| Trade receivables | 40 | €91,280 | €41,698 | -€49,581 | -54.3% |
| Other amounts receivable | 41 | €37,680 | €49,187 | +€11,508 | +30.5% |
| Current investments | 50/53 | €750,000 | €757,710 | +€7,710 | +1.0% |
| Cash at bank and in hand | 54/58 | €141,653 | €80,572 | -€61,081 | -43.1% |
| Deferred charges and accrued income | 490/1 | €9,830 | €9,068 | -€761 | -7.7% |
| Total equity and liabilities | 10/49 | €1,607,155 | €1,496,002 | -€111,153 | -6.9% |
| Equity | 10/15 | €1,336,791 | €1,413,089 | +€76,297 | +5.7% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €611,983 | €688,281 | +€76,297 | +12.5% |
| Distributable reserves | 133 | €611,983 | €688,281 | +€76,297 | +12.5% |
| Profit (loss) carried forward | 14 | €712,808 | €712,808 | = | 0.0% |
| Amounts payable | 17/49 | €270,364 | €82,913 | -€187,451 | -69.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €267,988 | €81,196 | -€186,792 | -69.7% |
| Current portion of amounts payable after more than one year | 42 | €894 | €0 | -€894 | -100.0% |
| Trade debts | 44 | €194,445 | €28,401 | -€166,044 | -85.4% |
| Suppliers | 440/4 | €194,445 | €28,401 | -€166,044 | -85.4% |
| Taxes, remuneration and social security | 45 | €64,420 | €44,735 | -€19,684 | -30.6% |
| Taxes | 450/3 | €30,261 | €44,735 | +€14,474 | +47.8% |
| Remuneration and social security | 454/9 | €34,158 | €0 | -€34,158 | -100.0% |
| Other amounts payable | 47/48 | €8,230 | €8,060 | -€170 | -2.1% |
| Accrued charges and deferred income | 492/3 | €2,375 | €1,717 | -€659 | -27.7% |
| Non-recurring operating income | 76A | €4,028 | €63,070 | +€59,041 | +1465.7% |
| Remuneration, social security and pensions | 62 | €399,434 | €278,554 | -€120,880 | -30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,659 | €32,241 | -€1,418 | -4.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,563 | €4,044 | +€1,481 | +57.8% |
| Other operating charges | 640/8 | €13,608 | €12,835 | -€773 | -5.7% |
| Non-recurring operating charges | 66A | €178 | €0 | -€178 | -100.0% |
| Gross operating margin | 9900 | €515,382 | €426,298 | -€89,084 | -17.3% |
| Operating profit (loss) | 9901 | €65,940 | €98,624 | +€32,684 | +49.6% |
| Financial income | 75/76B | €32,553 | €24,178 | -€8,375 | -25.7% |
| Recurring financial income | 75 | €32,553 | €24,178 | -€8,375 | -25.7% |
| Financial charges | 65/66B | €5,568 | €4,190 | -€1,378 | -24.8% |
| Recurring financial charges | 65 | €5,568 | €4,190 | -€1,378 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €92,925 | €118,613 | +€25,687 | +27.6% |
| Income taxes | 67/77 | €33,619 | €42,315 | +€8,697 | +25.9% |
| Profit (loss) for the period | 9904 | €59,307 | €76,297 | +€16,991 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,307 | €76,297 | +€16,991 | +28.6% |
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 7 October 2026 via checked.be.