Jan Vanleeuwe: 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 Vanleeuwe
Largest movements
- Tangible fixed assets -€24,519
down €24,519 (-4.5%), from €549,806 to €525,287
of which Land and buildings: -€23,006
- Cash +€10,063
up €10,063 (+13.4%), from €75,090 to €85,153
mainly Net result for the year (+€65,268) and Depreciation (+€24,519)
- Reserves +€65,268
up €65,268 (+13.9%), from €468,338 to €533,606
of which Distributable reserves: +€65,268
- Other debts -€64,314
down €64,314 (-48.6%), from €132,292 to €67,978
- Tax, wage and social debts -€12,119
down €12,119 (-73.3%), from €16,526 to €4,407
- Financial income -€17,135
down €17,135 (-97.8%), from €17,518 to €383
of which Non-recurring financial income: -€17,330
- Gross operating margin -€11,058
down €11,058 (-7.7%), from €143,400 to €132,343
- Taxes -€6,973
down €6,973 (-18.0%), from €38,732 to €31,759
- Financial charges -€3,532
down €3,532 (-43.3%), from €8,157 to €4,625
- Depreciation -€2,216
down €2,216 (-8.3%), from €26,736 to €24,519
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 | €649,151 | €637,554 | -€11,597 | -1.8% |
| Fixed assets | 21/28 | €549,868 | €525,349 | -€24,519 | -4.5% |
| Tangible fixed assets | 22/27 | €549,806 | €525,287 | -€24,519 | -4.5% |
| Land and buildings | 22 | €543,990 | €520,984 | -€23,006 | -4.2% |
| Plant, machinery and equipment | 23 | €1,475 | €790 | -€685 | -46.4% |
| Furniture and vehicles | 24 | €178 | - | -€178 | |
| Other tangible fixed assets | 26 | €4,163 | €3,513 | -€650 | -15.6% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €99,282 | €112,205 | +€12,923 | +13.0% |
| Amounts receivable within one year | 40/41 | €19,754 | €25,287 | +€5,533 | +28.0% |
| Trade receivables | 40 | €10,460 | €22,434 | +€11,974 | +114.5% |
| Other amounts receivable | 41 | €9,294 | €2,853 | -€6,440 | -69.3% |
| Cash at bank and in hand | 54/58 | €75,090 | €85,153 | +€10,063 | +13.4% |
| Deferred charges and accrued income | 490/1 | €4,438 | €1,764 | -€2,674 | -60.2% |
| Total equity and liabilities | 10/49 | €649,151 | €637,554 | -€11,597 | -1.8% |
| Equity | 10/15 | €481,704 | €546,972 | +€65,268 | +13.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €468,338 | €533,606 | +€65,268 | +13.9% |
| Tax-exempt reserves | 132 | €54 | €54 | = | 0.0% |
| Distributable reserves | 133 | €468,283 | €533,551 | +€65,268 | +13.9% |
| Profit (loss) carried forward | 14 | €967 | €967 | = | 0.0% |
| Provisions and deferred taxes | 16 | €17 | €17 | = | 0.0% |
| Deferred taxes | 168 | €17 | €17 | = | 0.0% |
| Amounts payable | 17/49 | €167,429 | €90,564 | -€76,865 | -45.9% |
| Amounts payable after more than one year | 17 | €130 | €130 | = | 0.0% |
| Other amounts payable | 178/9 | €130 | €130 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,098 | €86,067 | -€77,031 | -47.2% |
| Financial debts | 43 | €5,615 | €8,908 | +€3,293 | +58.6% |
| Credit institutions | 430/8 | €5,615 | €8,908 | +€3,293 | +58.6% |
| Trade debts | 44 | €8,665 | €4,773 | -€3,892 | -44.9% |
| Suppliers | 440/4 | €8,665 | €4,773 | -€3,892 | -44.9% |
| Taxes, remuneration and social security | 45 | €16,526 | €4,407 | -€12,119 | -73.3% |
| Taxes | 450/3 | €16,526 | €4,407 | -€12,119 | -73.3% |
| Other amounts payable | 47/48 | €132,292 | €67,978 | -€64,314 | -48.6% |
| Accrued charges and deferred income | 492/3 | €4,201 | €4,367 | +€166 | +4.0% |
| Non-recurring operating income | 76A | €13,484 | €4,158 | -€9,326 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,736 | €24,519 | -€2,216 | -8.3% |
| Other operating charges | 640/8 | €7,602 | €6,555 | -€1,047 | -13.8% |
| Gross operating margin | 9900 | €143,400 | €132,343 | -€11,058 | -7.7% |
| Operating profit (loss) | 9901 | €109,063 | €101,268 | -€7,794 | -7.1% |
| Financial income | 75/76B | €17,518 | €383 | -€17,135 | -97.8% |
| Recurring financial income | 75 | €188 | €383 | +€195 | +103.5% |
| Non-recurring financial income | 76B | €17,330 | - | -€17,330 | |
| Financial charges | 65/66B | €8,157 | €4,625 | -€3,532 | -43.3% |
| Recurring financial charges | 65 | €8,157 | €4,625 | -€3,532 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | €118,424 | €97,027 | -€21,397 | -18.1% |
| Income taxes | 67/77 | €38,732 | €31,759 | -€6,973 | -18.0% |
| Profit (loss) for the period | 9904 | €79,692 | €65,268 | -€14,424 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,692 | €65,268 | -€14,424 | -18.1% |
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 12 October 2026 via checked.be.