JAN VERSCHUEREN: what changed
JAN VERSCHUEREN
Largest movements
- Cash +€67,942
up €67,942 (+5.6%), from €1.2m to €1.3m
mainly Net result for the year (+€179,501) and Stocks and contracts (+€41,661)
- Stocks and contracts -€41,661
down €41,661 (-55.2%), from €75,415 to €33,754
- Receivables within one year -€36,371
down €36,371 (-48.4%), from €75,098 to €38,727
of which Other amounts receivable: -€18,976
- Other debts -€194,232
down €194,232 (-100%), from €194,232 to €0
- Reserves +€179,501
up €179,501 (+20.7%), from €866,536 to €1.0m
of which Distributable reserves: +€179,501
- Tax, wage and social debts +€28,317
up €28,317 (+119%), from €23,735 to €52,052
of which Taxes: +€32,085
- Trade debts -€16,863
down €16,863 (-37.9%), from €44,533 to €27,670
- Gross operating margin +€132,269
up €132,269 (+55.0%), from €240,370 to €372,639
- Taxes +€35,952
up €35,952 (+72.6%), from €49,491 to €85,443
- Other operating charges +€29,042
up €29,042 (+736%), from €3,946 to €32,989
- Financial income +€7,954
up €7,954 (+172%), from €4,617 to €12,572
- Write-downs +€4,935
new in 2025: €4,935
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,383,243 | €1,370,904 | -€12,339 | -0.9% |
| Fixed assets | 21/28 | €16,109 | €11,903 | -€4,207 | -26.1% |
| Tangible fixed assets | 22/27 | €16,109 | €11,903 | -€4,207 | -26.1% |
| Land and buildings | 22 | €1,364 | €1,023 | -€341 | -25.0% |
| Plant, machinery and equipment | 23 | €760 | €3,451 | +€2,691 | +354% |
| Furniture and vehicles | 24 | €13,985 | €7,429 | -€6,556 | -46.9% |
| Current assets | 29/58 | €1,367,133 | €1,359,001 | -€8,132 | -0.6% |
| Stocks and contracts in progress | 3 | €75,415 | €33,754 | -€41,661 | -55.2% |
| Stocks | 30/36 | €75,415 | €33,754 | -€41,661 | -55.2% |
| Amounts receivable within one year | 40/41 | €75,098 | €38,727 | -€36,371 | -48.4% |
| Trade receivables | 40 | €54,391 | €36,995 | -€17,395 | -32.0% |
| Other amounts receivable | 41 | €20,707 | €1,731 | -€18,976 | -91.6% |
| Cash at bank and in hand | 54/58 | €1,216,621 | €1,284,562 | +€67,942 | +5.6% |
| Deferred charges and accrued income | 490/1 | €0 | €1,958 | +€1,958 | |
| Total equity and liabilities | 10/49 | €1,383,243 | €1,370,904 | -€12,339 | -0.9% |
| Equity | 10/15 | €1,103,202 | €1,282,704 | +€179,501 | +16.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €866,536 | €1,046,037 | +€179,501 | +20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €847,786 | €1,027,287 | +€179,501 | +21.2% |
| Profit (loss) carried forward | 14 | €218,074 | €218,074 | = | 0.0% |
| Amounts payable | 17/49 | €280,040 | €88,200 | -€191,840 | -68.5% |
| Amounts payable within one year | 42/48 | €262,499 | €79,722 | -€182,778 | -69.6% |
| Trade debts | 44 | €44,533 | €27,670 | -€16,863 | -37.9% |
| Suppliers | 440/4 | €44,533 | €27,670 | -€16,863 | -37.9% |
| Taxes, remuneration and social security | 45 | €23,735 | €52,052 | +€28,317 | +119% |
| Taxes | 450/3 | €14,908 | €46,993 | +€32,085 | +215% |
| Remuneration and social security | 454/9 | €8,827 | €5,059 | -€3,768 | -42.7% |
| Other amounts payable | 47/48 | €194,232 | €0 | -€194,232 | -100% |
| Accrued charges and deferred income | 492/3 | €17,541 | €8,478 | -€9,063 | -51.7% |
| Remuneration, social security and pensions | 62 | €77,304 | €74,353 | -€2,951 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,586 | €7,627 | -€2,959 | -28.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,935 | +€4,935 | |
| Other operating charges | 640/8 | €3,946 | €32,989 | +€29,042 | +736% |
| Gross operating margin | 9900 | €240,370 | €372,639 | +€132,269 | +55.0% |
| Operating profit (loss) | 9901 | €148,533 | €252,736 | +€104,202 | +70.2% |
| Financial income | 75/76B | €4,617 | €12,572 | +€7,954 | +172% |
| Recurring financial income | 75 | €4,617 | €12,572 | +€7,954 | +172% |
| Financial charges | 65/66B | €91 | €363 | +€272 | +297% |
| Recurring financial charges | 65 | €91 | €363 | +€272 | +297% |
| Profit (loss) for the period before taxes | 9903 | €153,059 | €264,944 | +€111,885 | +73.1% |
| Income taxes | 67/77 | €49,491 | €85,443 | +€35,952 | +72.6% |
| Profit (loss) for the period | 9904 | €103,568 | €179,501 | +€75,933 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,568 | €179,501 | +€75,933 | +73.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.