JAN VERSCHAEREN: 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 VERSCHAEREN
Largest movements
- Current investments +€521,340
up €521,340 (+124%), from €420,733 to €942,072
- Cash -€363,643
down €363,643 (-47.5%), from €766,318 to €402,675
mainly Current investments (-€521,340) and Tax, wage and social debts (-€35,355)
- Receivables within one year -€34,773
down €34,773 (-100%), from €34,773 to €0
- Reserves +€185,106
up €185,106 (+18.0%), from €1.0m to €1.2m
of which Distributable reserves: +€185,106
- Tax, wage and social debts -€35,355
down €35,355 (-68.6%), from €51,566 to €16,211
- Other debts -€35,054
down €35,054 (-11.7%), from €298,857 to €263,802
- Gross operating margin -€38,370
down €38,370 (-8.9%), from €429,691 to €391,322
- Financial charges -€26,611
down €26,611 (-16.9%), from €157,313 to €130,702
- Taxes +€10,547
up €10,547 (+12.6%), from €83,899 to €94,447
- Financial income +€9,516
up €9,516 (+33.8%), from €28,191 to €37,707
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 | €1,398,293 | €1,520,474 | +€122,181 | +8.7% |
| Fixed assets | 21/28 | €36,404 | €32,540 | -€3,864 | -10.6% |
| Tangible fixed assets | 22/27 | €36,404 | €32,540 | -€3,864 | -10.6% |
| Plant, machinery and equipment | 23 | €500 | €2,242 | +€1,742 | +348% |
| Furniture and vehicles | 24 | €35,904 | €30,298 | -€5,606 | -15.6% |
| Current assets | 29/58 | €1,361,889 | €1,487,934 | +€126,045 | +9.3% |
| Amounts receivable within one year | 40/41 | €34,773 | €0 | -€34,773 | -100% |
| Other amounts receivable | 41 | €34,773 | €0 | -€34,773 | -100% |
| Current investments | 50/53 | €420,733 | €942,072 | +€521,340 | +124% |
| Cash at bank and in hand | 54/58 | €766,318 | €402,675 | -€363,643 | -47.5% |
| Deferred charges and accrued income | 490/1 | €140,066 | €143,186 | +€3,121 | +2.2% |
| Total equity and liabilities | 10/49 | €1,398,293 | €1,520,474 | +€122,181 | +8.7% |
| Equity | 10/15 | €1,040,429 | €1,225,535 | +€185,106 | +17.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,028,029 | €1,213,135 | +€185,106 | +18.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,026,174 | €1,211,280 | +€185,106 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €357,864 | €294,939 | -€62,925 | -17.6% |
| Amounts payable within one year | 42/48 | €352,841 | €281,166 | -€71,675 | -20.3% |
| Trade debts | 44 | €2,419 | €1,153 | -€1,266 | -52.3% |
| Suppliers | 440/4 | €2,419 | €1,153 | -€1,266 | -52.3% |
| Taxes, remuneration and social security | 45 | €51,566 | €16,211 | -€35,355 | -68.6% |
| Taxes | 450/3 | €51,566 | €16,211 | -€35,355 | -68.6% |
| Other amounts payable | 47/48 | €298,857 | €263,802 | -€35,054 | -11.7% |
| Accrued charges and deferred income | 492/3 | €5,023 | €13,773 | +€8,750 | +174% |
| Remuneration, social security and pensions | 62 | €102 | €0 | -€102 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,760 | €18,419 | -€341 | -1.8% |
| Other operating charges | 640/8 | €1,099 | €354 | -€744 | -67.7% |
| Gross operating margin | 9900 | €429,691 | €391,322 | -€38,370 | -8.9% |
| Operating profit (loss) | 9901 | €409,731 | €372,548 | -€37,182 | -9.1% |
| Financial income | 75/76B | €28,191 | €37,707 | +€9,516 | +33.8% |
| Recurring financial income | 75 | €28,191 | €37,707 | +€9,516 | +33.8% |
| Financial charges | 65/66B | €157,313 | €130,702 | -€26,611 | -16.9% |
| Recurring financial charges | 65 | €157,313 | €130,702 | -€26,611 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €280,609 | €279,553 | -€1,056 | -0.4% |
| Income taxes | 67/77 | €83,899 | €94,447 | +€10,547 | +12.6% |
| Profit (loss) for the period | 9904 | €196,709 | €185,106 | -€11,603 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €196,709 | €185,106 | -€11,603 | -5.9% |
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 25 October 2026 via checked.be.