Jan Thys: 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 Thys
Largest movements
- Cash +€2.5m
up €2.5m (+434.3%), from €564,822 to €3.0m
mainly Stocks and contracts (+€2.2m) and Current investments (+€2.1m)
- Stocks and contracts -€2.2m
down €2.2m (-42.0%), from €5.2m to €3.0m
- Current investments -€2.1m
down €2.1m (-100.0%), from €2.1m to €0
- Tangible fixed assets +€535,063
up €535,063 (+12.3%), from €4.3m to €4.9m
of which Land and buildings: +€518,123
- Short-term financial debts -€1.6m
down €1.6m (-26.1%), from €6.1m to €4.5m
- Reserves +€518,183
up €518,183 (+10.8%), from €4.8m to €5.3m
of which Distributable reserves: +€530,195
- Trade debts -€203,017
down €203,017 (-55.6%), from €365,344 to €162,327
- Gross operating margin +€520,065
up €520,065 (+59.5%), from €873,900 to €1.4m
- Taxes -€50,990
down €50,990 (-17.4%), from €293,594 to €242,604
- Financial charges -€34,794
down €34,794 (-7.4%), from €469,608 to €434,814
- Financial income -€30,914
down €30,914 (-35.7%), from €86,591 to €55,678
- Other operating charges +€14,203
up €14,203 (+35.2%), from €40,328 to €54,532
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.
Cash bridge derived
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 | €12,240,371 | €10,960,907 | -€1.3m | -10.5% |
| Fixed assets | 21/28 | €4,347,430 | €4,882,493 | +€535,063 | +12.3% |
| Tangible fixed assets | 22/27 | €4,345,810 | €4,880,873 | +€535,063 | +12.3% |
| Land and buildings | 22 | €4,327,970 | €4,846,092 | +€518,123 | +12.0% |
| Plant, machinery and equipment | 23 | €17,840 | €34,781 | +€16,940 | +95.0% |
| Financial fixed assets | 28 | €1,620 | €1,620 | = | 0.0% |
| Current assets | 29/58 | €7,892,941 | €6,078,414 | -€1.8m | -23.0% |
| Stocks and contracts in progress | 3 | €5,212,790 | €3,021,836 | -€2.2m | -42.0% |
| Stocks | 30/36 | €5,212,790 | €3,021,836 | -€2.2m | -42.0% |
| Amounts receivable within one year | 40/41 | €15,330 | €39,000 | +€23,670 | +154.4% |
| Trade receivables | 40 | €399 | €39,000 | +€38,601 | +9677.4% |
| Other amounts receivable | 41 | €14,931 | €0 | -€14,931 | -100.0% |
| Current investments | 50/53 | €2,100,000 | €0 | -€2.1m | -100.0% |
| Cash at bank and in hand | 54/58 | €564,822 | €3,017,578 | +€2.5m | +434.3% |
| Total equity and liabilities | 10/49 | €12,240,371 | €10,960,907 | -€1.3m | -10.5% |
| Equity | 10/15 | €5,322,275 | €5,840,458 | +€518,183 | +9.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,793,488 | €5,311,670 | +€518,183 | +10.8% |
| Non-distributable reserves | 130/1 | €177,045 | €177,045 | = | 0.0% |
| Legal reserve | 130 | €177,045 | €177,045 | = | 0.0% |
| Tax-exempt reserves | 132 | €397,985 | €385,973 | -€12,012 | -3.0% |
| Distributable reserves | 133 | €4,218,457 | €4,748,652 | +€530,195 | +12.6% |
| Profit (loss) carried forward | 14 | €467,288 | €467,288 | = | 0.0% |
| Provisions and deferred taxes | 16 | €58,143 | €51,823 | -€6,320 | -10.9% |
| Deferred taxes | 168 | €58,143 | €51,823 | -€6,320 | -10.9% |
| Amounts payable | 17/49 | €6,859,952 | €5,068,626 | -€1.8m | -26.1% |
| Amounts payable within one year | 42/48 | €6,682,908 | €4,905,014 | -€1.8m | -26.6% |
| Financial debts | 43 | €6,120,000 | €4,520,000 | -€1.6m | -26.1% |
| Other loans | 439 | €6,120,000 | €4,520,000 | -€1.6m | -26.1% |
| Trade debts | 44 | €365,344 | €162,327 | -€203,017 | -55.6% |
| Suppliers | 440/4 | €365,344 | €162,327 | -€203,017 | -55.6% |
| Taxes, remuneration and social security | 45 | €148,938 | €171,295 | +€22,357 | +15.0% |
| Taxes | 450/3 | €138,342 | €160,261 | +€21,919 | +15.8% |
| Remuneration and social security | 454/9 | €10,596 | €11,034 | +€438 | +4.1% |
| Other amounts payable | 47/48 | €48,626 | €51,392 | +€2,766 | +5.7% |
| Accrued charges and deferred income | 492/3 | €177,044 | €163,612 | -€13,432 | -7.6% |
| Non-recurring operating income | 76A | €120,164 | €0 | -€120,164 | -100.0% |
| Remuneration, social security and pensions | 62 | €58,498 | €60,406 | +€1,909 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,617 | €145,425 | +€12,808 | +9.7% |
| Other operating charges | 640/8 | €40,328 | €54,532 | +€14,203 | +35.2% |
| Gross operating margin | 9900 | €873,900 | €1,393,965 | +€520,065 | +59.5% |
| Operating profit (loss) | 9901 | €642,457 | €1,133,603 | +€491,146 | +76.4% |
| Financial income | 75/76B | €86,591 | €55,678 | -€30,914 | -35.7% |
| Recurring financial income | 75 | €86,591 | €55,678 | -€30,914 | -35.7% |
| Financial charges | 65/66B | €469,608 | €434,814 | -€34,794 | -7.4% |
| Recurring financial charges | 65 | €469,608 | €434,814 | -€34,794 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €259,440 | €754,466 | +€495,026 | +190.8% |
| Transfer from deferred taxes | 780 | €224,608 | €6,320 | -€218,288 | -97.2% |
| Income taxes | 67/77 | €293,594 | €242,604 | -€50,990 | -17.4% |
| Profit (loss) for the period | 9904 | €190,455 | €518,183 | +€327,728 | +172.1% |
| Transfer from tax-exempt reserves | 789 | €450,270 | €12,012 | -€438,258 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €640,724 | €530,195 | -€110,530 | -17.3% |
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 11 October 2026 via checked.be.