Jacob Michaela: 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.
Jacob Michaela
Largest movements
- Cash +€53,859
up €53,859 (+43.5%), from €123,760 to €177,619
mainly Net result for the year (+€49,658) and Tax, wage and social debts (+€17,426)
- Deferred charges and accrued income +€6,864
up €6,864 (+94.7%), from €7,244 to €14,108
- Reserves +€49,658
up €49,658 (+56.0%), from €88,658 to €138,316
- Tax, wage and social debts +€17,426
up €17,426 (+105.5%), from €16,514 to €33,941
- Debts after one year -€6,367
down €6,367 (-31.2%), from €20,437 to €14,070
- Gross operating margin +€3,185
up €3,185 (+5.0%), from €64,268 to €67,452
- Taxes +€3,086
up €3,086 (+21.5%), from €14,340 to €17,426
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 | €131,004 | €191,727 | +€60,723 | +46.4% |
| Current assets | 29/58 | €131,004 | €191,727 | +€60,723 | +46.4% |
| Cash at bank and in hand | 54/58 | €123,760 | €177,619 | +€53,859 | +43.5% |
| Deferred charges and accrued income | 490/1 | €7,244 | €14,108 | +€6,864 | +94.7% |
| Total equity and liabilities | 10/49 | €131,004 | €191,727 | +€60,723 | +46.4% |
| Equity | 10/15 | €92,658 | €142,316 | +€49,658 | +53.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €88,658 | €138,316 | +€49,658 | +56.0% |
| Distributable reserves | 133 | €88,658 | €138,316 | +€49,658 | +56.0% |
| Amounts payable | 17/49 | €38,346 | €49,412 | +€11,065 | +28.9% |
| Amounts payable after more than one year | 17 | €20,437 | €14,070 | -€6,367 | -31.2% |
| Financial debts | 170/4 | €20,437 | €14,070 | -€6,367 | -31.2% |
| Amounts payable within one year | 42/48 | €17,909 | €35,342 | +€17,432 | +97.3% |
| Trade debts | 44 | €1,395 | €1,401 | +€6 | +0.4% |
| Suppliers | 440/4 | €1,395 | €1,401 | +€6 | +0.4% |
| Taxes, remuneration and social security | 45 | €16,514 | €33,941 | +€17,426 | +105.5% |
| Taxes | 450/3 | €16,514 | €33,941 | +€17,426 | +105.5% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €64,268 | €67,452 | +€3,185 | +5.0% |
| Operating profit (loss) | 9901 | €64,268 | €67,332 | +€3,065 | +4.8% |
| Financial income | 75/76B | €472 | €478 | +€6 | +1.3% |
| Recurring financial income | 75 | €472 | €478 | +€6 | +1.3% |
| Financial charges | 65/66B | €168 | €727 | +€559 | +333.4% |
| Recurring financial charges | 65 | €168 | €727 | +€559 | +333.4% |
| Profit (loss) for the period before taxes | 9903 | €64,573 | €67,084 | +€2,511 | +3.9% |
| Income taxes | 67/77 | €14,340 | €17,426 | +€3,086 | +21.5% |
| Profit (loss) for the period | 9904 | €50,233 | €49,658 | -€575 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,233 | €49,658 | -€575 | -1.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.