J. DE BOCK: 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.
J. DE BOCK
Largest movements
- Current investments +€205,277
up €205,277 (+9.4%), from €2.2m to €2.4m
- Cash +€137,566
up €137,566 (+12.7%), from €1.1m to €1.2m
mainly Net result for the year (+€543,478) and Other debts (+€342,462)
- Receivables within one year -€126,376
down €126,376 (-17.2%), from €735,890 to €609,514
of which Trade receivables: -€147,994
- Other debts +€342,462
up €342,462 (+317%), from €108,197 to €450,660
- Trade debts -€157,334
down €157,334 (-29.0%), from €542,452 to €385,118
- Reserves +€87,408
up €87,408 (+2.3%), from €3.8m to €3.9m
of which Distributable reserves: +€87,408
- Gross operating margin -€202,936
down €202,936 (-13.9%), from €1.5m to €1.3m
- Financial charges -€114,387
down €114,387 (-92.3%), from €123,885 to €9,497
- Taxes -€68,004
down €68,004 (-21.3%), from €319,498 to €251,495
- Financial income -€40,243
down €40,243 (-49.4%), from €81,394 to €41,151
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 | €4,702,957 | €4,972,967 | +€270,010 | +5.7% |
| Fixed assets | 21/28 | €164,451 | €170,534 | +€6,083 | +3.7% |
| Tangible fixed assets | 22/27 | €164,147 | €170,230 | +€6,083 | +3.7% |
| Plant, machinery and equipment | 23 | €138,671 | €124,196 | -€14,475 | -10.4% |
| Furniture and vehicles | 24 | €25,476 | €46,034 | +€20,559 | +80.7% |
| Financial fixed assets | 28 | €304 | €304 | = | 0.0% |
| Current assets | 29/58 | €4,538,506 | €4,802,432 | +€263,926 | +5.8% |
| Stocks and contracts in progress | 3 | €510,054 | €546,435 | +€36,381 | +7.1% |
| Stocks | 30/36 | €510,054 | €546,435 | +€36,381 | +7.1% |
| Amounts receivable within one year | 40/41 | €735,890 | €609,514 | -€126,376 | -17.2% |
| Trade receivables | 40 | €679,774 | €531,781 | -€147,994 | -21.8% |
| Other amounts receivable | 41 | €56,116 | €77,734 | +€21,617 | +38.5% |
| Current investments | 50/53 | €2,187,733 | €2,393,010 | +€205,277 | +9.4% |
| Cash at bank and in hand | 54/58 | €1,085,778 | €1,223,344 | +€137,566 | +12.7% |
| Deferred charges and accrued income | 490/1 | €19,051 | €30,129 | +€11,078 | +58.2% |
| Total equity and liabilities | 10/49 | €4,702,957 | €4,972,967 | +€270,010 | +5.7% |
| Equity | 10/15 | €4,016,957 | €4,104,365 | +€87,408 | +2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,811,763 | €3,899,171 | +€87,408 | +2.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €3,805,563 | €3,892,971 | +€87,408 | +2.3% |
| Profit (loss) carried forward | 14 | €143,194 | €143,194 | = | 0.0% |
| Amounts payable | 17/49 | €686,000 | €868,602 | +€182,602 | +26.6% |
| Amounts payable within one year | 42/48 | €686,000 | €868,602 | +€182,602 | +26.6% |
| Trade debts | 44 | €542,452 | €385,118 | -€157,334 | -29.0% |
| Suppliers | 440/4 | €542,452 | €385,118 | -€157,334 | -29.0% |
| Taxes, remuneration and social security | 45 | €35,351 | €32,824 | -€2,527 | -7.1% |
| Remuneration and social security | 454/9 | €35,351 | €32,824 | -€2,527 | -7.1% |
| Other amounts payable | 47/48 | €108,197 | €450,660 | +€342,462 | +317% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €410,675 | €420,400 | +€9,725 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,125 | €65,296 | +€10,170 | +18.4% |
| Other operating charges | 640/8 | €6,977 | €10,138 | +€3,162 | +45.3% |
| Gross operating margin | 9900 | €1,462,088 | €1,259,152 | -€202,936 | -13.9% |
| Operating profit (loss) | 9901 | €989,310 | €763,318 | -€225,992 | -22.8% |
| Financial income | 75/76B | €81,394 | €41,151 | -€40,243 | -49.4% |
| Recurring financial income | 75 | €81,394 | €41,151 | -€40,243 | -49.4% |
| Financial charges | 65/66B | €123,885 | €9,497 | -€114,387 | -92.3% |
| Recurring financial charges | 65 | €123,885 | €9,497 | -€114,387 | -92.3% |
| Profit (loss) for the period before taxes | 9903 | €946,820 | €794,972 | -€151,848 | -16.0% |
| Income taxes | 67/77 | €319,498 | €251,495 | -€68,004 | -21.3% |
| Profit (loss) for the period | 9904 | €627,322 | €543,478 | -€83,844 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €627,322 | €543,478 | -€83,844 | -13.4% |
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 27 October 2026 via checked.be.