JAN CASSIMAN: 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.
JAN CASSIMAN
Largest movements
- Cash -€55,960
down €55,960 (-49.9%), from €112,063 to €56,103
mainly Contributions, distributions and other (-€100,000) and Net result for the year (-€8,291)
- Current investments -€50,284
down €50,284 (-9.2%), from €545,284 to €495,000
- Tangible fixed assets -€15,473
down €15,473 (-22.2%), from €69,723 to €54,250
of which Land and buildings: -€13,010
- Reserves -€108,291
down €108,291 (-15.3%), from €707,449 to €599,158
of which Distributable reserves: -€108,291
- Gross operating margin -€28,072
down €28,072, from €16,112 to -€11,960
- Financial income +€11,693
up €11,693 (+106%), from €11,074 to €22,767
- Taxes -€2,385
down €2,385, from €1,971 to -€414
- Depreciation -€312
down €312 (-1.9%), from €16,611 to €16,299
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 | €732,817 | €618,747 | -€114,070 | -15.6% |
| Fixed assets | 21/28 | €69,723 | €54,250 | -€15,473 | -22.2% |
| Tangible fixed assets | 22/27 | €69,723 | €54,250 | -€15,473 | -22.2% |
| Land and buildings | 22 | €65,314 | €52,304 | -€13,010 | -19.9% |
| Plant, machinery and equipment | 23 | €542 | €212 | -€330 | -60.9% |
| Furniture and vehicles | 24 | €3,867 | €1,734 | -€2,133 | -55.2% |
| Current assets | 29/58 | €663,094 | €564,496 | -€98,597 | -14.9% |
| Amounts receivable within one year | 40/41 | €5,747 | €12,939 | +€7,192 | +125% |
| Trade receivables | 40 | €2,420 | €0 | -€2,420 | -100% |
| Other amounts receivable | 41 | €3,327 | €12,939 | +€9,612 | +289% |
| Current investments | 50/53 | €545,284 | €495,000 | -€50,284 | -9.2% |
| Cash at bank and in hand | 54/58 | €112,063 | €56,103 | -€55,960 | -49.9% |
| Deferred charges and accrued income | 490/1 | €0 | €455 | +€455 | |
| Total equity and liabilities | 10/49 | €732,817 | €618,747 | -€114,070 | -15.6% |
| Equity | 10/15 | €725,999 | €617,708 | -€108,291 | -14.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €707,449 | €599,158 | -€108,291 | -15.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €707,449 | €599,158 | -€108,291 | -15.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,817 | €1,038 | -€5,779 | -84.8% |
| Amounts payable within one year | 42/48 | €6,615 | €1,038 | -€5,577 | -84.3% |
| Trade debts | 44 | €599 | €909 | +€310 | +51.7% |
| Suppliers | 440/4 | €599 | €909 | +€310 | +51.7% |
| Taxes, remuneration and social security | 45 | €965 | €130 | -€835 | -86.6% |
| Taxes | 450/3 | €965 | €130 | -€835 | -86.6% |
| Other amounts payable | 47/48 | €5,051 | €0 | -€5,051 | -100% |
| Accrued charges and deferred income | 492/3 | €203 | €0 | -€203 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,611 | €16,299 | -€312 | -1.9% |
| Other operating charges | 640/8 | €1,923 | €1,980 | +€57 | +2.9% |
| Gross operating margin | 9900 | €16,112 | -€11,960 | -€28,072 | |
| Operating profit (loss) | 9901 | -€2,422 | -€30,239 | -€27,817 | -1,148% |
| Financial income | 75/76B | €11,074 | €22,767 | +€11,693 | +106% |
| Recurring financial income | 75 | €11,074 | €22,767 | +€11,693 | +106% |
| Financial charges | 65/66B | €1,260 | €1,233 | -€26 | -2.1% |
| Recurring financial charges | 65 | €1,260 | €1,233 | -€26 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €7,392 | -€8,705 | -€16,097 | |
| Income taxes | 67/77 | €1,971 | -€414 | -€2,385 | |
| Profit (loss) for the period | 9904 | €5,421 | -€8,291 | -€13,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,421 | -€8,291 | -€13,712 |
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 29 October 2026 via checked.be.