JAN NIETVELT: 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 NIETVELT
Largest movements
- Tangible fixed assets -€36,761
down €36,761 (-11.1%), from €330,599 to €293,838
of which Land and buildings: -€24,114
- Deferred charges and accrued income -€3,835
down €3,835 (-65.7%), from €5,837 to €2,003
- Debts after one year -€29,533
down €29,533 (-14.3%), from €205,858 to €176,325
- Accrued charges and deferred income -€9,600
down €9,600 (-44.4%), from €21,600 to €12,000
- Trade debts +€6,348
up €6,348 (+476%), from €1,335 to €7,683
- Gross operating margin -€9,908
down €9,908 (-14.0%), from €70,804 to €60,896
- Taxes -€3,216
down €3,216 (-100%), from €3,216 to €0
- Depreciation +€3,058
up €3,058 (+6.8%), from €45,044 to €48,102
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 | €380,684 | €345,626 | -€35,058 | -9.2% |
| Fixed assets | 21/28 | €330,599 | €293,838 | -€36,761 | -11.1% |
| Tangible fixed assets | 22/27 | €330,599 | €293,838 | -€36,761 | -11.1% |
| Land and buildings | 22 | €206,802 | €182,688 | -€24,114 | -11.7% |
| Plant, machinery and equipment | 23 | €110,918 | €101,808 | -€9,110 | -8.2% |
| Furniture and vehicles | 24 | €12,879 | €9,341 | -€3,538 | -27.5% |
| Current assets | 29/58 | €50,085 | €51,789 | +€1,703 | +3.4% |
| Stocks and contracts in progress | 3 | €1,250 | €3,755 | +€2,505 | +200% |
| Stocks | 30/36 | €1,250 | €3,755 | +€2,505 | +200% |
| Amounts receivable within one year | 40/41 | €23,127 | €23,001 | -€126 | -0.5% |
| Trade receivables | 40 | €6,949 | €2,638 | -€4,310 | -62.0% |
| Other amounts receivable | 41 | €16,179 | €20,363 | +€4,184 | +25.9% |
| Cash at bank and in hand | 54/58 | €19,870 | €23,030 | +€3,159 | +15.9% |
| Deferred charges and accrued income | 490/1 | €5,837 | €2,003 | -€3,835 | -65.7% |
| Total equity and liabilities | 10/49 | €380,684 | €345,626 | -€35,058 | -9.2% |
| Equity | 10/15 | €119,982 | €118,403 | -€1,579 | -1.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €94,982 | €94,982 | = | 0.0% |
| Distributable reserves | 133 | €94,982 | €94,982 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,579 | -€1,579 | |
| Amounts payable | 17/49 | €260,703 | €227,223 | -€33,480 | -12.8% |
| Amounts payable after more than one year | 17 | €205,858 | €176,325 | -€29,533 | -14.3% |
| Financial debts | 170/4 | €205,858 | €176,325 | -€29,533 | -14.3% |
| Amounts payable within one year | 42/48 | €33,245 | €38,898 | +€5,653 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €31,910 | €31,215 | -€695 | -2.2% |
| Trade debts | 44 | €1,335 | €7,683 | +€6,348 | +476% |
| Suppliers | 440/4 | €1,335 | €7,683 | +€6,348 | +476% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €21,600 | €12,000 | -€9,600 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,044 | €48,102 | +€3,058 | +6.8% |
| Other operating charges | 640/8 | €2,819 | €2,961 | +€142 | +5.0% |
| Gross operating margin | 9900 | €70,804 | €60,896 | -€9,908 | -14.0% |
| Operating profit (loss) | 9901 | €22,941 | €9,833 | -€13,107 | -57.1% |
| Financial income | 75/76B | €871 | €728 | -€144 | -16.5% |
| Recurring financial income | 75 | €871 | €728 | -€144 | -16.5% |
| Financial charges | 65/66B | €12,303 | €12,140 | -€164 | -1.3% |
| Recurring financial charges | 65 | €12,303 | €12,140 | -€164 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €11,509 | -€1,579 | -€13,088 | |
| Income taxes | 67/77 | €3,216 | €0 | -€3,216 | -100% |
| Profit (loss) for the period | 9904 | €8,294 | -€1,579 | -€9,872 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,294 | -€1,579 | -€9,872 |
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 27 October 2026 via checked.be.