Jan Kerkhofs: 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 Kerkhofs
Largest movements
- Cash -€25,629
down €25,629 (-70.8%), from €36,207 to €10,578
mainly Net result for the year (-€26,518) and Receivables within one year (-€14,317)
- Receivables within one year +€14,317
up €14,317 (+35.5%), from €40,345 to €54,662
of which Trade receivables: +€13,708
- Stocks and contracts -€1,374
down €1,374 (-31.6%), from €4,352 to €2,979
- Reserves -€26,518
down €26,518 (-39.0%), from €67,999 to €41,481
- Trade debts +€14,286
up €14,286 (+3,440%), from €415 to €14,701
- Other debts -€2,428
down €2,428 (-27.1%), from €8,960 to €6,532
- Tax, wage and social debts +€900
up €900 (+43.2%), from €2,083 to €2,983
- Gross operating margin -€32,091
down €32,091, from €9,117 to -€22,974
- Taxes -€1,951
down €1,951 (-93.7%), from €2,083 to €132
- Financial charges +€1,365
up €1,365 (+1,053%), from €130 to €1,494
- Depreciation -€842
down €842 (-57.3%), from €1,469 to €627
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 | €82,458 | €68,698 | -€13,760 | -16.7% |
| Fixed assets | 21/28 | €1,048 | €421 | -€627 | -59.8% |
| Tangible fixed assets | 22/27 | €1,048 | €421 | -€627 | -59.8% |
| Furniture and vehicles | 24 | €1,048 | €421 | -€627 | -59.8% |
| Current assets | 29/58 | €81,409 | €68,276 | -€13,133 | -16.1% |
| Stocks and contracts in progress | 3 | €4,352 | €2,979 | -€1,374 | -31.6% |
| Stocks | 30/36 | €4,352 | €2,979 | -€1,374 | -31.6% |
| Amounts receivable within one year | 40/41 | €40,345 | €54,662 | +€14,317 | +35.5% |
| Trade receivables | 40 | €37,837 | €51,545 | +€13,708 | +36.2% |
| Other amounts receivable | 41 | €2,508 | €3,117 | +€609 | +24.3% |
| Cash at bank and in hand | 54/58 | €36,207 | €10,578 | -€25,629 | -70.8% |
| Deferred charges and accrued income | 490/1 | €505 | €58 | -€447 | -88.5% |
| Total equity and liabilities | 10/49 | €82,458 | €68,698 | -€13,760 | -16.7% |
| Equity | 10/15 | €70,999 | €44,481 | -€26,518 | -37.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €67,999 | €41,481 | -€26,518 | -39.0% |
| Distributable reserves | 133 | €67,999 | €41,481 | -€26,518 | -39.0% |
| Amounts payable | 17/49 | €11,458 | €24,216 | +€12,758 | +111% |
| Amounts payable within one year | 42/48 | €11,458 | €24,216 | +€12,758 | +111% |
| Trade debts | 44 | €415 | €14,701 | +€14,286 | +3,440% |
| Suppliers | 440/4 | €415 | €14,701 | +€14,286 | +3,440% |
| Taxes, remuneration and social security | 45 | €2,083 | €2,983 | +€900 | +43.2% |
| Taxes | 450/3 | €2,083 | €2,983 | +€900 | +43.2% |
| Other amounts payable | 47/48 | €8,960 | €6,532 | -€2,428 | -27.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,469 | €627 | -€842 | -57.3% |
| Other operating charges | 640/8 | €1,077 | €1,293 | +€216 | +20.1% |
| Gross operating margin | 9900 | €9,117 | -€22,974 | -€32,091 | |
| Operating profit (loss) | 9901 | €6,571 | -€24,895 | -€31,466 | |
| Financial income | 75/76B | €103 | €3 | -€100 | -97.0% |
| Recurring financial income | 75 | €103 | €3 | -€100 | -97.0% |
| Financial charges | 65/66B | €130 | €1,494 | +€1,365 | +1,053% |
| Recurring financial charges | 65 | €130 | €1,494 | +€1,365 | +1,053% |
| Profit (loss) for the period before taxes | 9903 | €6,545 | -€26,386 | -€32,931 | |
| Income taxes | 67/77 | €2,083 | €132 | -€1,951 | -93.7% |
| Profit (loss) for the period | 9904 | €4,462 | -€26,518 | -€30,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,462 | -€26,518 | -€30,980 |
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 24 October 2026 via checked.be.