Jean DREESSEN: 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.
Jean DREESSEN
Largest movements
- Cash +€495,136
up €495,136 (+26.4%), from €1.9m to €2.4m
mainly Net result for the year (+€486,929) and Depreciation (+€178,362)
- Tangible fixed assets -€173,425
down €173,425 (-27.9%), from €621,608 to €448,183
- Receivables within one year -€109,867
down €109,867 (-23.4%), from €468,520 to €358,652
of which Trade receivables: -€96,771
- Reserves +€344,690
up €344,690 (+15.2%), from €2.3m to €2.6m
- Debts after one year -€99,625
down €99,625 (-61.3%), from €162,457 to €62,832
- Short-term financial debts -€50,010
down €50,010 (-29.9%), from €167,175 to €117,164
- Tax, wage and social debts +€37,869
up €37,869 (+228%), from €16,602 to €54,471
of which Taxes: +€37,507
- Financial charges +€82,201
up €82,201, from -€61,415 to €20,785
- Gross operating margin -€37,391
down €37,391 (-3.5%), from €1.1m to €1.0m
- Depreciation +€32,597
up €32,597 (+22.4%), from €145,765 to €178,362
- Taxes -€17,048
down €17,048 (-7.0%), from €244,735 to €227,687
- Financial income -€15,205
down €15,205 (-76.0%), from €20,009 to €4,804
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 | €2,974,270 | €3,195,635 | +€221,364 | +7.4% |
| Fixed assets | 21/28 | €621,608 | €448,183 | -€173,425 | -27.9% |
| Tangible fixed assets | 22/27 | €621,608 | €448,183 | -€173,425 | -27.9% |
| Plant, machinery and equipment | 23 | €324,911 | €245,796 | -€79,115 | -24.3% |
| Furniture and vehicles | 24 | €144,758 | €84,858 | -€59,900 | -41.4% |
| Leasing and similar rights | 25 | €151,939 | €117,529 | -€34,410 | -22.6% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €2,352,662 | €2,747,451 | +€394,789 | +16.8% |
| Amounts receivable within one year | 40/41 | €468,520 | €358,652 | -€109,867 | -23.4% |
| Trade receivables | 40 | €405,610 | €308,839 | -€96,771 | -23.9% |
| Other amounts receivable | 41 | €62,910 | €49,813 | -€13,097 | -20.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,874,815 | €2,369,951 | +€495,136 | +26.4% |
| Deferred charges and accrued income | 490/1 | €9,327 | €18,848 | +€9,521 | +102% |
| Total equity and liabilities | 10/49 | €2,974,270 | €3,195,635 | +€221,364 | +7.4% |
| Equity | 10/15 | €2,433,106 | €2,778,726 | +€345,619 | +14.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,270,454 | €2,615,144 | +€344,690 | +15.2% |
| Distributable reserves | 133 | €2,270,454 | €2,615,144 | +€344,690 | +15.2% |
| Profit (loss) carried forward | 14 | €144,060 | €144,990 | +€929 | +0.6% |
| Amounts payable | 17/49 | €541,164 | €416,909 | -€124,255 | -23.0% |
| Amounts payable after more than one year | 17 | €162,457 | €62,832 | -€99,625 | -61.3% |
| Financial debts | 170/4 | €162,457 | €62,832 | -€99,625 | -61.3% |
| Amounts payable within one year | 42/48 | €375,144 | €350,514 | -€24,630 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €96,077 | €99,625 | +€3,548 | +3.7% |
| Financial debts | 43 | €167,175 | €117,164 | -€50,010 | -29.9% |
| Credit institutions | 430/8 | €167,175 | €117,164 | -€50,010 | -29.9% |
| Trade debts | 44 | €73,993 | €65,479 | -€8,515 | -11.5% |
| Suppliers | 440/4 | €73,993 | €65,479 | -€8,515 | -11.5% |
| Taxes, remuneration and social security | 45 | €16,602 | €54,471 | +€37,869 | +228% |
| Taxes | 450/3 | €129 | €37,637 | +€37,507 | +28,977% |
| Remuneration and social security | 454/9 | €16,473 | €16,835 | +€362 | +2.2% |
| Other amounts payable | 47/48 | €21,297 | €13,774 | -€7,522 | -35.3% |
| Accrued charges and deferred income | 492/3 | €3,563 | €3,563 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €103,287 | €114,664 | +€11,377 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,765 | €178,362 | +€32,597 | +22.4% |
| Other operating charges | 640/8 | €1,500 | €3,280 | +€1,780 | +119% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,064,295 | €1,026,904 | -€37,391 | -3.5% |
| Operating profit (loss) | 9901 | €813,742 | €730,598 | -€83,144 | -10.2% |
| Financial income | 75/76B | €20,009 | €4,804 | -€15,205 | -76.0% |
| Recurring financial income | 75 | €20,009 | €4,804 | -€15,205 | -76.0% |
| Financial charges | 65/66B | -€61,415 | €20,785 | +€82,201 | |
| Recurring financial charges | 65 | -€61,415 | €20,785 | +€82,201 | |
| Profit (loss) for the period before taxes | 9903 | €895,166 | €714,617 | -€180,549 | -20.2% |
| Income taxes | 67/77 | €244,735 | €227,687 | -€17,048 | -7.0% |
| Profit (loss) for the period | 9904 | €650,431 | €486,929 | -€163,502 | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €650,431 | €486,929 | -€163,502 | -25.1% |
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 21 October 2026 via checked.be.