JAN POPELIER: 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 POPELIER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,544
2024 · €2.0m-€2.0m
Equity
€2.3m
2024 · €2.3m-€3,544
Cash
€2,129
2024 · €1,958+€171
Balance sheet total
€3.7m
2024 · €3.6m+€61,388
Largest movements
Assets
- Tangible fixed assets +€75,165
up €75,165 (+2,017%), from €3,727 to €78,892
of which Leasing and similar rights: +€66,254
Equity and liabilities
- Debts after one year +€53,273
new in 2025: €53,273
Income statement
- Financial income -€2.0m
down €2.0m (-99.2%), from €2.0m to €16,957
- Gross operating margin +€10,444
up €10,444 (+69.5%), from -€15,029 to -€4,584
- Write-downs -€9,111
down €9,111 (-100%), from €9,111 to €0
- Depreciation +€5,261
up €5,261 (+891%), from €590 to €5,851
- Financial charges +€1,507
up €1,507 (+29.0%), from €5,191 to €6,698
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
€2.0m
Gross operating margin
+€10,444
Depreciation
-€5,261
Write-downs
+€9,111
Other operating charges
-€873
Financial income
-€2.0m
Financial charges
-€1,507
Taxes
-€77
Result 2025
-€3,544
raises the resultlowers the result
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.
From operations
+€15,646
Investment
-€81,017
Financing
+€65,541
Cash 2024
€1,958
From operations (derived)
+€15,646
Net result for the year
-€3,544
Depreciation
+€5,851
Stocks and contracts
+€9,111
Receivables within one year
+€6,118
Deferred charges and accrued income
-€1,281
Trade debts
+€1,231
Tax, wage and social debts
+€1,595
Other debts
-€3,435
Investment (derived)
-€81,017
Investment in fixed assets (net)
-€81,017
Financing
+€65,541
Debts after one year
+€53,273
Current portion of long-term debt
+€12,268
Cash 2025
€2,129
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,623,224 | €3,684,611 | +€61,388 | +1.7% |
| Fixed assets | 21/28 | €3,003,727 | €3,078,892 | +€75,165 | +2.5% |
| Tangible fixed assets | 22/27 | €3,727 | €78,892 | +€75,165 | +2,017% |
| Plant, machinery and equipment | 23 | - | €7,134 | +€7,134 | |
| Furniture and vehicles | 24 | €703 | €230 | -€473 | -67.3% |
| Leasing and similar rights | 25 | - | €66,254 | +€66,254 | |
| Other tangible fixed assets | 26 | €3,024 | €5,274 | +€2,250 | +74.4% |
| Financial fixed assets | 28 | €3,000,000 | €3,000,000 | = | 0.0% |
| Current assets | 29/58 | €619,497 | €605,719 | -€13,777 | -2.2% |
| Stocks and contracts in progress | 3 | €9,111 | €0 | -€9,111 | -100% |
| Stocks | 30/36 | €9,111 | €0 | -€9,111 | -100% |
| Amounts receivable within one year | 40/41 | €607,346 | €601,227 | -€6,118 | -1.0% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €607,346 | €589,127 | -€18,218 | -3.0% |
| Cash at bank and in hand | 54/58 | €1,958 | €2,129 | +€171 | +8.7% |
| Deferred charges and accrued income | 490/1 | €1,082 | €2,363 | +€1,281 | +118% |
| Total equity and liabilities | 10/49 | €3,623,224 | €3,684,611 | +€61,388 | +1.7% |
| Equity | 10/15 | €2,275,444 | €2,271,900 | -€3,544 | -0.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,256,894 | €2,253,350 | -€3,544 | -0.2% |
| Distributable reserves | 133 | €2,256,894 | €2,253,350 | -€3,544 | -0.2% |
| Amounts payable | 17/49 | €1,347,779 | €1,412,712 | +€64,932 | +4.8% |
| Amounts payable after more than one year | 17 | - | €53,273 | +€53,273 | |
| Financial debts | 170/4 | - | €53,273 | +€53,273 | |
| Amounts payable within one year | 42/48 | €1,347,779 | €1,359,438 | +€11,659 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | - | €12,268 | +€12,268 | |
| Trade debts | 44 | €1,073 | €2,304 | +€1,231 | +115% |
| Suppliers | 440/4 | €1,073 | €2,304 | +€1,231 | +115% |
| Taxes, remuneration and social security | 45 | €4,230 | €5,825 | +€1,595 | +37.7% |
| Taxes | 450/3 | €4,230 | €5,825 | +€1,595 | +37.7% |
| Other amounts payable | 47/48 | €1,342,476 | €1,339,041 | -€3,435 | -0.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €590 | €5,851 | +€5,261 | +891% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,111 | €0 | -€9,111 | -100% |
| Other operating charges | 640/8 | €1,993 | €2,865 | +€873 | +43.8% |
| Gross operating margin | 9900 | -€15,029 | -€4,584 | +€10,444 | +69.5% |
| Operating profit (loss) | 9901 | -€26,722 | -€13,301 | +€13,421 | +50.2% |
| Financial income | 75/76B | €2,000,701 | €16,957 | -€2.0m | -99.2% |
| Recurring financial income | 75 | €2,000,701 | €16,957 | -€2.0m | -99.2% |
| Financial charges | 65/66B | €5,191 | €6,698 | +€1,507 | +29.0% |
| Recurring financial charges | 65 | €5,191 | €6,698 | +€1,507 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €1,968,787 | -€3,042 | -€2.0m | |
| Income taxes | 67/77 | €426 | €503 | +€77 | +18.0% |
| Profit (loss) for the period | 9904 | €1,968,361 | -€3,544 | -€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,968,361 | -€3,544 | -€2.0m |
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.