JAN MAERTENS: 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 MAERTENS
Largest movements
- Tangible fixed assets -€15,512
down €15,512 (-2.4%), from €635,670 to €620,158
of which Land and buildings: -€15,512
- Other debts -€12,513
down €12,513 (-52.1%), from €24,024 to €11,511
- Profit (loss) carried forward -€10,224
down €10,224 (-2.9%), from €358,280 to €348,056
- Depreciation +€9,991
up €9,991 (+181%), from €5,521 to €15,512
- Write-downs -€7,019
no longer reported in 2025 (was €7,019)
- Gross operating margin +€6,870
up €6,870 (+181%), from €3,790 to €10,660
- Other operating charges -€923
down €923 (-15.2%), from €6,056 to €5,133
- Taxes +€851
no longer reported in 2025 (was -€851)
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 | €665,983 | €642,757 | -€23,226 | -3.5% |
| Fixed assets | 21/28 | €635,670 | €620,158 | -€15,512 | -2.4% |
| Tangible fixed assets | 22/27 | €635,670 | €620,158 | -€15,512 | -2.4% |
| Land and buildings | 22 | €632,270 | €616,758 | -€15,512 | -2.5% |
| Plant, machinery and equipment | 23 | €3,400 | €3,400 | = | 0.0% |
| Current assets | 29/58 | €30,313 | €22,599 | -€7,714 | -25.4% |
| Amounts receivable within one year | 40/41 | €25,852 | €22,599 | -€3,253 | -12.6% |
| Other amounts receivable | 41 | €25,852 | €22,599 | -€3,253 | -12.6% |
| Cash at bank and in hand | 54/58 | €4,461 | - | -€4,461 | |
| Total equity and liabilities | 10/49 | €665,983 | €642,757 | -€23,226 | -3.5% |
| Equity | 10/15 | €441,345 | €431,121 | -€10,224 | -2.3% |
| Contributions | 10/11 | €8,065 | €8,065 | = | 0.0% |
| Reserves | 13 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €358,280 | €348,056 | -€10,224 | -2.9% |
| Amounts payable | 17/49 | €224,638 | €211,636 | -€13,002 | -5.8% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €24,638 | €11,636 | -€13,002 | -52.8% |
| Trade debts | 44 | €614 | €125 | -€489 | -79.6% |
| Suppliers | 440/4 | €614 | €125 | -€489 | -79.6% |
| Other amounts payable | 47/48 | €24,024 | €11,511 | -€12,513 | -52.1% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,521 | €15,512 | +€9,991 | +181% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,019 | - | -€7,019 | |
| Other operating charges | 640/8 | €6,056 | €5,133 | -€923 | -15.2% |
| Gross operating margin | 9900 | €3,790 | €10,660 | +€6,870 | +181% |
| Operating profit (loss) | 9901 | -€14,806 | -€9,985 | +€4,821 | +32.6% |
| Financial charges | 65/66B | €360 | €239 | -€121 | -33.6% |
| Recurring financial charges | 65 | €360 | €239 | -€121 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,166 | -€10,224 | +€4,942 | +32.6% |
| Income taxes | 67/77 | -€851 | - | +€851 | |
| Profit (loss) for the period | 9904 | -€14,315 | -€10,224 | +€4,091 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,315 | -€10,224 | +€4,091 | +28.6% |
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 14 October 2026 via checked.be.