JAN SWAEGERS: 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 SWAEGERS
Largest movements
- Cash +€32,737
up €32,737 (+35.3%), from €92,816 to €125,553
mainly Receivables within one year (+€30,780) and Net result for the year (+€1,755)
- Receivables within one year -€30,780
down €30,780 (-100.0%), from €30,782 to €2
of which Other amounts receivable: -€22,533
- Profit (loss) carried forward +€1,755
up €1,755 (+0.8%), from -€221,669 to -€219,914
- Gross operating margin +€3,919
up €3,919, from -€1,259 to €2,660
- Financial income +€616
new in 2025: €616
- Other operating charges -€180
down €180 (-21.0%), from €859 to €679
- Financial charges +€43
up €43 (+13.8%), from €311 to €353
- Depreciation +€35
up €35 (+7.7%), from €453 to €488
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 | €124,656 | €126,693 | +€2,037 | +1.6% |
| Fixed assets | 21/28 | €1,010 | €522 | -€488 | -48.3% |
| Tangible fixed assets | 22/27 | €1,010 | €522 | -€488 | -48.3% |
| Furniture and vehicles | 24 | €1,010 | €522 | -€488 | -48.3% |
| Current assets | 29/58 | €123,646 | €126,171 | +€2,525 | +2.0% |
| Amounts receivable within one year | 40/41 | €30,782 | €2 | -€30,780 | -100.0% |
| Trade receivables | 40 | €8,247 | €0 | -€8,247 | -100% |
| Other amounts receivable | 41 | €22,535 | €2 | -€22,533 | -100.0% |
| Cash at bank and in hand | 54/58 | €92,816 | €125,553 | +€32,737 | +35.3% |
| Deferred charges and accrued income | 490/1 | €48 | €616 | +€568 | +1,183% |
| Total equity and liabilities | 10/49 | €124,656 | €126,693 | +€2,037 | +1.6% |
| Equity | 10/15 | €123,331 | €125,086 | +€1,755 | +1.4% |
| Contributions | 10/11 | €345,000 | €345,000 | = | 0.0% |
| Capital | 10 | €345,000 | €345,000 | = | 0.0% |
| Issued capital | 100 | €345,000 | €345,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,669 | -€219,914 | +€1,755 | +0.8% |
| Amounts payable | 17/49 | €1,325 | €1,607 | +€282 | +21.2% |
| Amounts payable within one year | 42/48 | €1,325 | €1,607 | +€282 | +21.2% |
| Trade debts | 44 | €79 | €54 | -€25 | -31.7% |
| Suppliers | 440/4 | €79 | €54 | -€25 | -31.7% |
| Taxes, remuneration and social security | 45 | €1,247 | €1,124 | -€123 | -9.8% |
| Taxes | 450/3 | €1,247 | €1,124 | -€123 | -9.8% |
| Other amounts payable | 47/48 | €0 | €429 | +€429 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €453 | €488 | +€35 | +7.7% |
| Other operating charges | 640/8 | €859 | €679 | -€180 | -21.0% |
| Gross operating margin | 9900 | -€1,259 | €2,660 | +€3,919 | |
| Operating profit (loss) | 9901 | -€2,571 | €1,493 | +€4,064 | |
| Financial income | 75/76B | - | €616 | +€616 | |
| Recurring financial income | 75 | - | €616 | +€616 | |
| Financial charges | 65/66B | €311 | €353 | +€43 | +13.8% |
| Recurring financial charges | 65 | €311 | €353 | +€43 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,882 | €1,755 | +€4,637 | |
| Profit (loss) for the period | 9904 | -€2,882 | €1,755 | +€4,637 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,882 | €1,755 | +€4,637 |
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 23 October 2026 via checked.be.