JAN VERTONGEN: 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 VERTONGEN
Largest movements
- Tangible fixed assets -€7,597
down €7,597 (-8.9%), from €85,138 to €77,541
of which Leasing and similar rights: -€7,644
- Receivables within one year +€6,170
up €6,170 (+31.6%), from €19,517 to €25,687
of which Trade receivables: +€6,947
- Cash -€1,536
down €1,536 (-100%), from €1,536 to €0
mainly Receivables within one year (-€6,170) and Investment in fixed assets (net) (-€6,089)
- Other debts +€8,020
up €8,020 (+148%), from €5,432 to €13,452
- Debts after one year -€5,637
down €5,637 (-22.3%), from €25,239 to €19,601
- Trade debts -€2,988
down €2,988 (-60.5%), from €4,940 to €1,953
- Short-term financial debts -€2,948
down €2,948 (-12.7%), from €23,219 to €20,271
- Depreciation +€7,774
up €7,774 (+132%), from €5,911 to €13,686
- Other operating charges -€2,435
down €2,435 (-51.3%), from €4,750 to €2,315
- Taxes +€1,446
up €1,446 (+743%), from €195 to €1,641
- Gross operating margin -€1,304
down €1,304 (-5.3%), from €24,448 to €23,144
- Financial charges -€318
down €318 (-6.0%), from €5,272 to €4,954
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 | €112,011 | €109,048 | -€2,963 | -2.6% |
| Fixed assets | 21/28 | €90,958 | €83,361 | -€7,597 | -8.4% |
| Tangible fixed assets | 22/27 | €85,138 | €77,541 | -€7,597 | -8.9% |
| Land and buildings | 22 | €43,700 | €39,328 | -€4,371 | -10.0% |
| Plant, machinery and equipment | 23 | €3,678 | €4,114 | +€437 | +11.9% |
| Furniture and vehicles | 24 | - | €3,982 | +€3,982 | |
| Leasing and similar rights | 25 | €37,761 | €30,117 | -€7,644 | -20.2% |
| Financial fixed assets | 28 | €5,819 | €5,819 | = | 0.0% |
| Current assets | 29/58 | €21,053 | €25,687 | +€4,634 | +22.0% |
| Amounts receivable within one year | 40/41 | €19,517 | €25,687 | +€6,170 | +31.6% |
| Trade receivables | 40 | €9,057 | €16,004 | +€6,947 | +76.7% |
| Other amounts receivable | 41 | €10,460 | €9,683 | -€777 | -7.4% |
| Cash at bank and in hand | 54/58 | €1,536 | €0 | -€1,536 | -100% |
| Total equity and liabilities | 10/49 | €112,011 | €109,048 | -€2,963 | -2.6% |
| Equity | 10/15 | €46,399 | €46,783 | +€384 | +0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €28,275 | €28,275 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €26,416 | €26,416 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€468 | -€83 | +€384 | +82.2% |
| Amounts payable | 17/49 | €65,612 | €62,264 | -€3,347 | -5.1% |
| Amounts payable after more than one year | 17 | €25,239 | €19,601 | -€5,637 | -22.3% |
| Financial debts | 170/4 | €25,239 | €19,601 | -€5,637 | -22.3% |
| Amounts payable within one year | 42/48 | €40,373 | €42,663 | +€2,290 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €5,432 | €5,637 | +€206 | +3.8% |
| Financial debts | 43 | €23,219 | €20,271 | -€2,948 | -12.7% |
| Credit institutions | 430/8 | €23,219 | €20,271 | -€2,948 | -12.7% |
| Trade debts | 44 | €4,940 | €1,953 | -€2,988 | -60.5% |
| Suppliers | 440/4 | €4,940 | €1,953 | -€2,988 | -60.5% |
| Taxes, remuneration and social security | 45 | €1,350 | €1,350 | = | 0.0% |
| Taxes | 450/3 | €1,350 | €1,350 | = | 0.0% |
| Other amounts payable | 47/48 | €5,432 | €13,452 | +€8,020 | +148% |
| Remuneration, social security and pensions | 62 | €163 | €170 | +€7 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,911 | €13,686 | +€7,774 | +132% |
| Other operating charges | 640/8 | €4,750 | €2,315 | -€2,435 | -51.3% |
| Gross operating margin | 9900 | €24,448 | €23,144 | -€1,304 | -5.3% |
| Operating profit (loss) | 9901 | €13,623 | €6,973 | -€6,650 | -48.8% |
| Financial income | 75/76B | €65 | €7 | -€58 | -89.9% |
| Recurring financial income | 75 | €65 | €7 | -€58 | -89.9% |
| Financial charges | 65/66B | €5,272 | €4,954 | -€318 | -6.0% |
| Recurring financial charges | 65 | €5,272 | €4,954 | -€318 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €8,416 | €2,025 | -€6,391 | -75.9% |
| Income taxes | 67/77 | €195 | €1,641 | +€1,446 | +743% |
| Profit (loss) for the period | 9904 | €8,222 | €384 | -€7,837 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,222 | €384 | -€7,837 | -95.3% |
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 23 October 2026 via checked.be.