JAN DEVOS: 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.
What changed
JAN DEVOS
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€35,856
2024 · €32,706+€3,150
Equity
€320,467
2024 · €284,612+€35,856
Cash
€146,849
2024 · €89,749+€57,100
Balance sheet total
€1.2m
2024 · €837,091+€393,088
Largest movements
Assets
- Receivables within one year +€212,973
up €212,973 (+62.4%), from €341,569 to €554,542
of which Trade receivables: +€165,455
- Tangible fixed assets +€120,311
up €120,311 (+32.4%), from €371,863 to €492,174
of which Leasing and similar rights: +€74,648
- Cash +€57,100
up €57,100 (+63.6%), from €89,749 to €146,849
mainly Trade debts (+€263,133) and Depreciation (+€93,911)
Equity and liabilities
- Trade debts +€263,133
up €263,133 (+122.7%), from €214,381 to €477,515
- Debts after one year +€66,898
up €66,898 (+51.9%), from €128,879 to €195,776
- Reserves +€35,856
up €35,856 (+13.5%), from €266,012 to €301,867
of which Distributable reserves: +€37,641
- Current portion of long-term debt +€31,744
up €31,744 (+52.5%), from €60,476 to €92,220
- Other debts -€22,841
down €22,841 (-29.7%), from €76,879 to €54,038
Income statement
- Staff costs +€89,120
up €89,120 (+12.0%), from €740,043 to €829,163
- Gross operating margin +€81,628
up €81,628 (+8.9%), from €921,686 to €1.0m
- Depreciation +€11,433
up €11,433 (+13.9%), from €82,478 to €93,911
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.
Result 2024
€32,706
Gross operating margin
+€81,628
Staff costs
-€89,120
Depreciation
-€11,433
Other operating charges
+€1,981
Other operating items
+€22,577
Financial income
-€482
Financial charges
-€1,659
Taxes
-€341
Result 2025
€35,856
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.
From operations
+€176,051
Investment
-€214,222
Financing
+€95,271
Cash 2024
€89,749
From operations (derived)
+€176,051
Net result for the year
+€35,856
Depreciation
+€93,911
Stocks and contracts
-€1,501
Receivables within one year
-€212,973
Deferred charges and accrued income
-€1,203
Smaller working-capital items
-€190
Trade debts
+€263,133
Tax, wage and social debts
+€15,340
Other debts
-€22,841
Accrued charges and deferred income
+€6,519
Investment (derived)
-€214,222
Investment in fixed assets (net)
-€214,222
Financing
+€95,271
Debts after one year
+€66,898
Current portion of long-term debt
+€31,744
Short-term financial debts
-€3,371
Cash 2025
€146,849
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €837,091 | €1,230,179 | +€393,088 | +47.0% |
| Fixed assets | 21/28 | €375,622 | €495,933 | +€120,311 | +32.0% |
| Tangible fixed assets | 22/27 | €371,863 | €492,174 | +€120,311 | +32.4% |
| Plant, machinery and equipment | 23 | €4,369 | €2,280 | -€2,089 | -47.8% |
| Furniture and vehicles | 24 | €202,370 | €243,735 | +€41,365 | +20.4% |
| Leasing and similar rights | 25 | €73,106 | €147,754 | +€74,648 | +102.1% |
| Other tangible fixed assets | 26 | €92,018 | €98,406 | +€6,387 | +6.9% |
| Financial fixed assets | 28 | €3,759 | €3,759 | = | 0.0% |
| Current assets | 29/58 | €461,468 | €734,245 | +€272,777 | +59.1% |
| Stocks and contracts in progress | 3 | €11,765 | €13,266 | +€1,501 | +12.8% |
| Stocks | 30/36 | €11,765 | €13,266 | +€1,501 | +12.8% |
| Amounts receivable within one year | 40/41 | €341,569 | €554,542 | +€212,973 | +62.4% |
| Trade receivables | 40 | €168,768 | €334,223 | +€165,455 | +98.0% |
| Other amounts receivable | 41 | €172,801 | €220,319 | +€47,518 | +27.5% |
| Cash at bank and in hand | 54/58 | €89,749 | €146,849 | +€57,100 | +63.6% |
| Deferred charges and accrued income | 490/1 | €18,386 | €19,588 | +€1,203 | +6.5% |
| Total equity and liabilities | 10/49 | €837,091 | €1,230,179 | +€393,088 | +47.0% |
| Equity | 10/15 | €284,612 | €320,467 | +€35,856 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €266,012 | €301,867 | +€35,856 | +13.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €19,316 | €17,530 | -€1,785 | -9.2% |
| Distributable reserves | 133 | €246,696 | €284,337 | +€37,641 | +15.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,339 | €893 | -€446 | -33.3% |
| Deferred taxes | 168 | €1,339 | €893 | -€446 | -33.3% |
| Amounts payable | 17/49 | €551,140 | €908,819 | +€357,679 | +64.9% |
| Amounts payable after more than one year | 17 | €128,879 | €195,776 | +€66,898 | +51.9% |
| Financial debts | 170/4 | €128,879 | €195,776 | +€66,898 | +51.9% |
| Amounts payable within one year | 42/48 | €398,772 | €683,034 | +€284,262 | +71.3% |
| Current portion of amounts payable after more than one year | 42 | €60,476 | €92,220 | +€31,744 | +52.5% |
| Financial debts | 43 | €3,371 | €0 | -€3,371 | -100.0% |
| Credit institutions | 430/8 | €3,371 | €0 | -€3,371 | -100.0% |
| Trade debts | 44 | €214,381 | €477,515 | +€263,133 | +122.7% |
| Suppliers | 440/4 | €214,381 | €477,515 | +€263,133 | +122.7% |
| Advances received on contracts in progress | 46 | €87 | €343 | +€257 | +295.2% |
| Taxes, remuneration and social security | 45 | €43,578 | €58,918 | +€15,340 | +35.2% |
| Taxes | 450/3 | €10,804 | €11,561 | +€757 | +7.0% |
| Remuneration and social security | 454/9 | €32,774 | €47,357 | +€14,583 | +44.5% |
| Other amounts payable | 47/48 | €76,879 | €54,038 | -€22,841 | -29.7% |
| Accrued charges and deferred income | 492/3 | €23,490 | €30,009 | +€6,519 | +27.8% |
| Non-recurring operating income | 76A | €11,000 | €11,829 | +€829 | +7.5% |
| Remuneration, social security and pensions | 62 | €740,043 | €829,163 | +€89,120 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,478 | €93,911 | +€11,433 | +13.9% |
| Other operating charges | 640/8 | €7,001 | €5,021 | -€1,981 | -28.3% |
| Non-recurring operating charges | 66A | €22,577 | €0 | -€22,577 | -100.0% |
| Gross operating margin | 9900 | €921,686 | €1,003,314 | +€81,628 | +8.9% |
| Operating profit (loss) | 9901 | €69,586 | €75,219 | +€5,633 | +8.1% |
| Financial income | 75/76B | €5,786 | €5,304 | -€482 | -8.3% |
| Recurring financial income | 75 | €5,786 | €5,304 | -€482 | -8.3% |
| Financial charges | 65/66B | €22,362 | €24,022 | +€1,659 | +7.4% |
| Recurring financial charges | 65 | €22,362 | €24,022 | +€1,659 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €53,010 | €56,501 | +€3,491 | +6.6% |
| Transfer from deferred taxes | 780 | €446 | €446 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €20,751 | €21,092 | +€341 | +1.6% |
| Profit (loss) for the period | 9904 | €32,706 | €35,856 | +€3,150 | +9.6% |
| Transfer from tax-exempt reserves | 789 | €1,785 | €1,785 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €34,491 | €37,641 | +€3,150 | +9.1% |
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 12 October 2026 via checked.be.