JASPER MOEYAERT: 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.
JASPER MOEYAERT
Largest movements
- Tangible fixed assets +€70,240
up €70,240 (+34.7%), from €202,597 to €272,837
of which Land and buildings: +€86,045
- Receivables within one year -€42,945
down €42,945 (-38.7%), from €111,048 to €68,103
of which Other amounts receivable: -€29,053
- Cash -€40,963
down €40,963 (-73.9%), from €55,427 to €14,464
mainly Investment in fixed assets (net) (-€99,656) and Contributions, distributions and other (-€60,000)
- Current investments +€7,428
up €7,428 (+4.5%), from €164,191 to €171,618
- Debts after one year +€70,223
up €70,223 (+55.5%), from €126,485 to €196,708
- Reserves -€60,000
down €60,000 (-16.6%), from €361,176 to €301,176
of which Distributable reserves: -€60,000
- Profit (loss) carried forward -€35,529
down €35,529, from €5,191 to -€30,338
- Current portion of long-term debt +€11,932
up €11,932, from €0 to €11,932
- Gross operating margin -€25,450
down €25,450 (-47.5%), from €53,631 to €28,181
- Taxes -€8,576
down €8,576 (-98.2%), from €8,733 to €157
- Financial charges +€4,900
up €4,900 (+51.9%), from €9,448 to €14,347
- Depreciation -€2,853
down €2,853 (-8.8%), from €32,269 to €29,416
- Financial income -€1,221
down €1,221 (-27.5%), from €4,438 to €3,217
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 | €537,105 | €528,172 | -€8,932 | -1.7% |
| Fixed assets | 21/28 | €202,597 | €272,837 | +€70,240 | +34.7% |
| Tangible fixed assets | 22/27 | €202,597 | €272,837 | +€70,240 | +34.7% |
| Land and buildings | 22 | €126,073 | €212,118 | +€86,045 | +68.2% |
| Plant, machinery and equipment | 23 | €2,788 | €2,074 | -€714 | -25.6% |
| Furniture and vehicles | 24 | €67,199 | €47,209 | -€19,990 | -29.7% |
| Other tangible fixed assets | 26 | €6,537 | €11,436 | +€4,899 | +74.9% |
| Current assets | 29/58 | €334,507 | €255,335 | -€79,173 | -23.7% |
| Amounts receivable within one year | 40/41 | €111,048 | €68,103 | -€42,945 | -38.7% |
| Trade receivables | 40 | €49,189 | €35,296 | -€13,893 | -28.2% |
| Other amounts receivable | 41 | €61,859 | €32,807 | -€29,053 | -47.0% |
| Current investments | 50/53 | €164,191 | €171,618 | +€7,428 | +4.5% |
| Cash at bank and in hand | 54/58 | €55,427 | €14,464 | -€40,963 | -73.9% |
| Deferred charges and accrued income | 490/1 | €3,841 | €1,149 | -€2,692 | -70.1% |
| Total equity and liabilities | 10/49 | €537,105 | €528,172 | -€8,932 | -1.7% |
| Equity | 10/15 | €384,967 | €289,437 | -€95,529 | -24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €361,176 | €301,176 | -€60,000 | -16.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €361,176 | €301,176 | -€60,000 | -16.6% |
| Profit (loss) carried forward | 14 | €5,191 | -€30,338 | -€35,529 | |
| Amounts payable | 17/49 | €152,138 | €238,735 | +€86,597 | +56.9% |
| Amounts payable after more than one year | 17 | €126,485 | €196,708 | +€70,223 | +55.5% |
| Financial debts | 170/4 | €126,485 | €196,708 | +€70,223 | +55.5% |
| Amounts payable within one year | 42/48 | €25,653 | €42,027 | +€16,374 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €11,932 | +€11,932 | |
| Trade debts | 44 | €18,587 | €23,487 | +€4,900 | +26.4% |
| Suppliers | 440/4 | €18,587 | €23,487 | +€4,900 | +26.4% |
| Taxes, remuneration and social security | 45 | €7,066 | €6,607 | -€459 | -6.5% |
| Taxes | 450/3 | €7,066 | €6,607 | -€459 | -6.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €17,507 | €0 | -€17,507 | -100% |
| Remuneration, social security and pensions | 62 | €106 | €0 | -€106 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,269 | €29,416 | -€2,853 | -8.8% |
| Other operating charges | 640/8 | €3,039 | €3,974 | +€935 | +30.8% |
| Non-recurring operating charges | 66A | €0 | €19,034 | +€19,034 | |
| Gross operating margin | 9900 | €53,631 | €28,181 | -€25,450 | -47.5% |
| Operating profit (loss) | 9901 | €18,218 | -€24,242 | -€42,460 | |
| Financial income | 75/76B | €4,438 | €3,217 | -€1,221 | -27.5% |
| Recurring financial income | 75 | €4,438 | €3,217 | -€1,221 | -27.5% |
| Financial charges | 65/66B | €9,448 | €14,347 | +€4,900 | +51.9% |
| Recurring financial charges | 65 | €9,448 | €14,347 | +€4,900 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | €13,208 | -€35,373 | -€48,581 | |
| Income taxes | 67/77 | €8,733 | €157 | -€8,576 | -98.2% |
| Profit (loss) for the period | 9904 | €4,476 | -€35,529 | -€40,005 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,476 | -€35,529 | -€40,005 |
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 20 October 2026 via checked.be.