Jan Marchand: 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 Marchand
Largest movements
- Current investments +€40,000
up €40,000 (+15.4%), from €260,000 to €300,000
- Cash +€29,956
up €29,956 (+46.8%), from €63,981 to €93,937
mainly Net result for the year (+€79,326) and Depreciation (+€19,335)
- Tangible fixed assets -€18,235
down €18,235 (-24.0%), from €75,882 to €57,647
of which Furniture and vehicles: -€17,063
- Reserves +€55,027
up €55,027 (+16.7%), from €329,298 to €384,325
- Debts after one year -€9,830
down €9,830 (-32.2%), from €30,489 to €20,660
- Other debts +€7,046
up €7,046 (+46.0%), from €15,324 to €22,370
- Gross operating margin +€66,822
up €66,822 (+108%), from €61,840 to €128,662
- Taxes +€16,415
up €16,415 (+100%), from €16,336 to €32,752
- Depreciation +€11,882
up €11,882 (+159%), from €7,453 to €19,335
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 | €410,794 | €464,240 | +€53,446 | +13.0% |
| Fixed assets | 21/28 | €75,882 | €57,647 | -€18,235 | -24.0% |
| Tangible fixed assets | 22/27 | €75,882 | €57,647 | -€18,235 | -24.0% |
| Plant, machinery and equipment | 23 | €3,018 | €1,846 | -€1,172 | -38.8% |
| Furniture and vehicles | 24 | €72,864 | €55,801 | -€17,063 | -23.4% |
| Current assets | 29/58 | €334,912 | €406,593 | +€71,681 | +21.4% |
| Amounts receivable within one year | 40/41 | €10,431 | €12,155 | +€1,725 | +16.5% |
| Trade receivables | 40 | €2,701 | €5,011 | +€2,310 | +85.5% |
| Other amounts receivable | 41 | €7,730 | €7,144 | -€586 | -7.6% |
| Current investments | 50/53 | €260,000 | €300,000 | +€40,000 | +15.4% |
| Cash at bank and in hand | 54/58 | €63,981 | €93,937 | +€29,956 | +46.8% |
| Deferred charges and accrued income | 490/1 | €500 | €500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €410,794 | €464,240 | +€53,446 | +13.0% |
| Equity | 10/15 | €343,498 | €398,525 | +€55,027 | +16.0% |
| Contributions | 10/11 | €14,200 | €14,200 | = | 0.0% |
| Reserves | 13 | €329,298 | €384,325 | +€55,027 | +16.7% |
| Distributable reserves | 133 | €329,298 | €384,325 | +€55,027 | +16.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,296 | €65,716 | -€1,580 | -2.3% |
| Amounts payable after more than one year | 17 | €30,489 | €20,660 | -€9,830 | -32.2% |
| Financial debts | 170/4 | €30,489 | €20,660 | -€9,830 | -32.2% |
| Amounts payable within one year | 42/48 | €35,706 | €45,056 | +€9,349 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €9,511 | €9,830 | +€319 | +3.4% |
| Trade debts | 44 | €7 | €0 | -€7 | -100% |
| Suppliers | 440/4 | €7 | €0 | -€7 | -100% |
| Taxes, remuneration and social security | 45 | €10,865 | €12,857 | +€1,992 | +18.3% |
| Taxes | 450/3 | €10,865 | €12,857 | +€1,992 | +18.3% |
| Other amounts payable | 47/48 | €15,324 | €22,370 | +€7,046 | +46.0% |
| Accrued charges and deferred income | 492/3 | €1,100 | €0 | -€1,100 | -100% |
| Non-recurring operating income | 76A | €3,719 | €0 | -€3,719 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,453 | €19,335 | +€11,882 | +159% |
| Other operating charges | 640/8 | €963 | €634 | -€329 | -34.2% |
| Gross operating margin | 9900 | €61,840 | €128,662 | +€66,822 | +108% |
| Operating profit (loss) | 9901 | €53,424 | €108,694 | +€55,269 | +103% |
| Financial income | 75/76B | €6,351 | €5,217 | -€1,134 | -17.9% |
| Recurring financial income | 75 | €6,351 | €5,217 | -€1,134 | -17.9% |
| Financial charges | 65/66B | €1,267 | €1,833 | +€566 | +44.6% |
| Recurring financial charges | 65 | €1,267 | €1,833 | +€566 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €58,508 | €112,078 | +€53,570 | +91.6% |
| Income taxes | 67/77 | €16,336 | €32,752 | +€16,415 | +100% |
| Profit (loss) for the period | 9904 | €42,172 | €79,326 | +€37,155 | +88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,172 | €79,326 | +€37,155 | +88.1% |
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 24 October 2026 via checked.be.