Jean Kluger: 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 Kluger
Largest movements
- Tangible fixed assets +€39,108
up €39,108 (+165%), from €23,674 to €62,782
of which Furniture and vehicles: +€19,575
- Cash +€22,185
up €22,185 (+30.0%), from €73,942 to €96,127
mainly Net result for the year (+€25,275) and Receivables within one year (+€18,685)
- Receivables within one year -€18,685
down €18,685 (-31.0%), from €60,330 to €41,645
of which Trade receivables: -€18,646
- Profit (loss) carried forward +€15,675
up €15,675 (+199%), from €7,860 to €23,534
- Other debts +€14,434
up €14,434 (+928%), from €1,556 to €15,990
- Trade debts +€13,325
up €13,325 (+34.3%), from €38,808 to €52,134
- Tax, wage and social debts -€2,179
down €2,179 (-25.4%), from €8,584 to €6,405
of which Remuneration and social security: -€2,463
- Gross operating margin +€30,588
up €30,588 (+183%), from €16,702 to €47,290
- Depreciation +€4,740
up €4,740 (+82.8%), from €5,721 to €10,460
- Taxes +€4,277
up €4,277 (+77.9%), from €5,488 to €9,765
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 | €160,434 | €202,998 | +€42,565 | +26.5% |
| Fixed assets | 21/28 | €23,964 | €63,072 | +€39,108 | +163% |
| Tangible fixed assets | 22/27 | €23,674 | €62,782 | +€39,108 | +165% |
| Plant, machinery and equipment | 23 | €4,877 | €5,621 | +€744 | +15.3% |
| Furniture and vehicles | 24 | €2,824 | €22,400 | +€19,575 | +693% |
| Other tangible fixed assets | 26 | €15,973 | €34,761 | +€18,788 | +118% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €136,469 | €139,926 | +€3,457 | +2.5% |
| Stocks and contracts in progress | 3 | €374 | €299 | -€75 | -20.0% |
| Stocks | 30/36 | €374 | €299 | -€75 | -20.0% |
| Amounts receivable within one year | 40/41 | €60,330 | €41,645 | -€18,685 | -31.0% |
| Trade receivables | 40 | €40,337 | €21,692 | -€18,646 | -46.2% |
| Other amounts receivable | 41 | €19,993 | €19,953 | -€39 | -0.2% |
| Cash at bank and in hand | 54/58 | €73,942 | €96,127 | +€22,185 | +30.0% |
| Deferred charges and accrued income | 490/1 | €1,823 | €1,855 | +€32 | +1.7% |
| Total equity and liabilities | 10/49 | €160,434 | €202,998 | +€42,565 | +26.5% |
| Equity | 10/15 | €111,276 | €126,951 | +€15,675 | +14.1% |
| Contributions | 10/11 | €62,139 | €62,139 | = | 0.0% |
| Capital | 10 | €62,139 | €62,139 | = | 0.0% |
| Issued capital | 100 | €62,139 | €62,139 | = | 0.0% |
| Reserves | 13 | €41,277 | €41,277 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,214 | €6,214 | = | 0.0% |
| Legal reserve | 130 | €6,214 | €6,214 | = | 0.0% |
| Distributable reserves | 133 | €35,063 | €35,063 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,860 | €23,534 | +€15,675 | +199% |
| Amounts payable | 17/49 | €49,158 | €76,048 | +€26,890 | +54.7% |
| Amounts payable within one year | 42/48 | €49,158 | €74,879 | +€25,721 | +52.3% |
| Trade debts | 44 | €38,808 | €52,134 | +€13,325 | +34.3% |
| Suppliers | 440/4 | €38,808 | €52,134 | +€13,325 | +34.3% |
| Advances received on contracts in progress | 46 | €210 | €350 | +€140 | +66.7% |
| Taxes, remuneration and social security | 45 | €8,584 | €6,405 | -€2,179 | -25.4% |
| Taxes | 450/3 | €3,242 | €3,526 | +€284 | +8.8% |
| Remuneration and social security | 454/9 | €5,342 | €2,879 | -€2,463 | -46.1% |
| Other amounts payable | 47/48 | €1,556 | €15,990 | +€14,434 | +928% |
| Accrued charges and deferred income | 492/3 | - | €1,169 | +€1,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,721 | €10,460 | +€4,740 | +82.8% |
| Other operating charges | 640/8 | €1,350 | €1,362 | +€12 | +0.9% |
| Gross operating margin | 9900 | €16,702 | €47,290 | +€30,588 | +183% |
| Operating profit (loss) | 9901 | €9,632 | €35,468 | +€25,836 | +268% |
| Financial income | 75/76B | €201 | €243 | +€42 | +20.8% |
| Recurring financial income | 75 | €201 | €243 | +€42 | +20.8% |
| Financial charges | 65/66B | €986 | €671 | -€315 | -32.0% |
| Recurring financial charges | 65 | €986 | €671 | -€315 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €8,846 | €35,040 | +€26,193 | +296% |
| Income taxes | 67/77 | €5,488 | €9,765 | +€4,277 | +77.9% |
| Profit (loss) for the period | 9904 | €3,358 | €25,275 | +€21,917 | +653% |
| Profit (loss) for the period to be appropriated | 9905 | €3,358 | €25,275 | +€21,917 | +653% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.