JAN DEFOUR: 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 DEFOUR
Largest movements
- Cash -€17,638
down €17,638 (-22.2%), from €79,461 to €61,823
mainly Other debts (-€22,204) and Trade debts (-€22,008)
- Stocks and contracts +€5,875
up €5,875 (+72.9%), from €8,060 to €13,935
- Reserves +€47,762
up €47,762 (+12.7%), from €376,447 to €424,209
of which Distributable reserves: +€47,828
- Other debts -€22,204
down €22,204 (-63.6%), from €34,927 to €12,722
- Trade debts -€22,008
down €22,008 (-42.9%), from €51,274 to €29,266
- Current portion of long-term debt -€6,711
down €6,711 (-100%), from €6,711 to €0
- Gross operating margin +€32,727
up €32,727 (+64.0%), from €51,155 to €83,882
- Taxes +€11,050
up €11,050 (+83.2%), from €13,287 to €24,336
- Other operating charges +€3,527
up €3,527 (+77.5%), from €4,552 to €8,079
- Depreciation -€3,269
down €3,269 (-48.5%), from €6,739 to €3,470
- Financial charges +€1,632
up €1,632 (+167%), from €975 to €2,608
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 | €529,996 | €522,601 | -€7,395 | -1.4% |
| Fixed assets | 21/28 | €395,773 | €400,699 | +€4,925 | +1.2% |
| Tangible fixed assets | 22/27 | €395,773 | €400,699 | +€4,925 | +1.2% |
| Land and buildings | 22 | €291,993 | €291,993 | = | 0.0% |
| Plant, machinery and equipment | 23 | €100,185 | €105,922 | +€5,737 | +5.7% |
| Furniture and vehicles | 24 | €2,967 | €2,312 | -€655 | -22.1% |
| Other tangible fixed assets | 26 | €629 | €472 | -€157 | -25.0% |
| Current assets | 29/58 | €134,223 | €121,903 | -€12,320 | -9.2% |
| Stocks and contracts in progress | 3 | €8,060 | €13,935 | +€5,875 | +72.9% |
| Stocks | 30/36 | €8,060 | €13,935 | +€5,875 | +72.9% |
| Amounts receivable within one year | 40/41 | €45,699 | €45,097 | -€602 | -1.3% |
| Trade receivables | 40 | €39,044 | €40,533 | +€1,489 | +3.8% |
| Other amounts receivable | 41 | €6,655 | €4,564 | -€2,091 | -31.4% |
| Cash at bank and in hand | 54/58 | €79,461 | €61,823 | -€17,638 | -22.2% |
| Deferred charges and accrued income | 490/1 | €1,003 | €1,048 | +€45 | +4.5% |
| Total equity and liabilities | 10/49 | €529,996 | €522,601 | -€7,395 | -1.4% |
| Equity | 10/15 | €388,847 | €436,609 | +€47,762 | +12.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €376,447 | €424,209 | +€47,762 | +12.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €52,242 | €52,177 | -€66 | -0.1% |
| Distributable reserves | 133 | €324,204 | €372,032 | +€47,828 | +14.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €40,462 | €40,445 | -€16 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €28,488 | €28,488 | = | 0.0% |
| Pensions and similar obligations | 160 | €28,488 | €28,488 | = | 0.0% |
| Deferred taxes | 168 | €11,973 | €11,957 | -€16 | -0.1% |
| Amounts payable | 17/49 | €100,688 | €45,547 | -€55,141 | -54.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €100,688 | €45,547 | -€55,141 | -54.8% |
| Current portion of amounts payable after more than one year | 42 | €6,711 | €0 | -€6,711 | -100% |
| Trade debts | 44 | €51,274 | €29,266 | -€22,008 | -42.9% |
| Suppliers | 440/4 | €51,274 | €29,266 | -€22,008 | -42.9% |
| Advances received on contracts in progress | 46 | €2,382 | €1,936 | -€445 | -18.7% |
| Taxes, remuneration and social security | 45 | €5,394 | €1,622 | -€3,772 | -69.9% |
| Taxes | 450/3 | €2,642 | €1,622 | -€1,019 | -38.6% |
| Remuneration and social security | 454/9 | €2,752 | €0 | -€2,752 | -100% |
| Other amounts payable | 47/48 | €34,927 | €12,722 | -€22,204 | -63.6% |
| Non-recurring operating income | 76A | €0 | €27,150 | +€27,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,739 | €3,470 | -€3,269 | -48.5% |
| Other operating charges | 640/8 | €4,552 | €8,079 | +€3,527 | +77.5% |
| Gross operating margin | 9900 | €51,155 | €83,882 | +€32,727 | +64.0% |
| Operating profit (loss) | 9901 | €39,865 | €72,333 | +€32,468 | +81.4% |
| Financial income | 75/76B | €1,002 | €2,356 | +€1,355 | +135% |
| Recurring financial income | 75 | €1,002 | €2,356 | +€1,355 | +135% |
| Financial charges | 65/66B | €975 | €2,608 | +€1,632 | +167% |
| Recurring financial charges | 65 | €975 | €2,608 | +€1,632 | +167% |
| Profit (loss) for the period before taxes | 9903 | €39,891 | €72,082 | +€32,191 | +80.7% |
| Transfer from deferred taxes | 780 | €15 | €16 | +€1 | +9.1% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €13,287 | €24,336 | +€11,050 | +83.2% |
| Profit (loss) for the period | 9904 | €26,620 | €47,762 | +€21,143 | +79.4% |
| Transfer from tax-exempt reserves | 789 | €60 | €66 | +€5 | +9.1% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €26,680 | €47,828 | +€21,148 | +79.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.