JEAN-MARC HERR: 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-MARC HERR
Largest movements
- Cash +€20,887
up €20,887 (+27.1%), from €77,083 to €97,970
mainly Net result for the year (+€66,539) and Depreciation (+€16,606)
- Tangible fixed assets -€14,566
down €14,566 (-4.0%), from €366,692 to €352,127
of which Land and buildings: -€11,028
- Receivables within one year -€8,235
down €8,235 (-29.3%), from €28,137 to €19,903
- Debts after one year -€26,381
down €26,381 (-16.6%), from €158,855 to €132,474
- Other debts +€12,861
up €12,861 (+29.8%), from €43,160 to €56,021
- Reserves +€10,913
up €10,913 (+4.2%), from €258,803 to €269,716
of which Distributable reserves: +€10,913
- Gross operating margin +€25,372
up €25,372 (+27.8%), from €91,169 to €116,540
- Taxes +€6,373
up €6,373 (+32.3%), from €19,702 to €26,075
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.
Cash bridge derived
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 | €517,466 | €514,699 | -€2,767 | -0.5% |
| Fixed assets | 21/28 | €366,717 | €352,152 | -€14,566 | -4.0% |
| Tangible fixed assets | 22/27 | €366,692 | €352,127 | -€14,566 | -4.0% |
| Land and buildings | 22 | €342,947 | €331,918 | -€11,028 | -3.2% |
| Plant, machinery and equipment | 23 | €14,327 | €12,898 | -€1,429 | -10.0% |
| Furniture and vehicles | 24 | €7,068 | €2,920 | -€4,148 | -58.7% |
| Other tangible fixed assets | 26 | €2,351 | €4,391 | +€2,040 | +86.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €150,749 | €162,547 | +€11,799 | +7.8% |
| Amounts receivable after more than one year | 29 | €44,750 | €43,750 | -€1,000 | -2.2% |
| Other amounts receivable | 291 | €44,750 | €43,750 | -€1,000 | -2.2% |
| Amounts receivable within one year | 40/41 | €28,137 | €19,903 | -€8,235 | -29.3% |
| Trade receivables | 40 | €28,137 | €19,903 | -€8,235 | -29.3% |
| Cash at bank and in hand | 54/58 | €77,083 | €97,970 | +€20,887 | +27.1% |
| Deferred charges and accrued income | 490/1 | €778 | €924 | +€146 | +18.8% |
| Total equity and liabilities | 10/49 | €517,466 | €514,699 | -€2,767 | -0.5% |
| Equity | 10/15 | €273,063 | €283,976 | +€10,913 | +4.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €258,803 | €269,716 | +€10,913 | +4.2% |
| Tax-exempt reserves | 132 | €114 | €114 | = | 0.0% |
| Distributable reserves | 133 | €258,689 | €269,602 | +€10,913 | +4.2% |
| Amounts payable | 17/49 | €244,403 | €230,723 | -€13,680 | -5.6% |
| Amounts payable after more than one year | 17 | €158,855 | €132,474 | -€26,381 | -16.6% |
| Financial debts | 170/4 | €158,855 | €132,474 | -€26,381 | -16.6% |
| Amounts payable within one year | 42/48 | €85,548 | €98,249 | +€12,701 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €28,261 | €28,919 | +€657 | +2.3% |
| Trade debts | 44 | €3,980 | €3,065 | -€914 | -23.0% |
| Suppliers | 440/4 | €3,980 | €3,065 | -€914 | -23.0% |
| Taxes, remuneration and social security | 45 | €10,147 | €10,244 | +€97 | +1.0% |
| Taxes | 450/3 | €8,297 | €8,394 | +€97 | +1.2% |
| Remuneration and social security | 454/9 | €1,850 | €1,850 | = | 0.0% |
| Other amounts payable | 47/48 | €43,160 | €56,021 | +€12,861 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,100 | €16,606 | +€506 | +3.1% |
| Other operating charges | 640/8 | €3,336 | €2,737 | -€599 | -18.0% |
| Gross operating margin | 9900 | €91,169 | €116,540 | +€25,372 | +27.8% |
| Operating profit (loss) | 9901 | €71,733 | €97,198 | +€25,465 | +35.5% |
| Financial income | 75/76B | €367 | €664 | +€297 | +81.0% |
| Recurring financial income | 75 | €367 | €664 | +€297 | +81.0% |
| Financial charges | 65/66B | €5,630 | €5,248 | -€383 | -6.8% |
| Recurring financial charges | 65 | €5,630 | €5,248 | -€383 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €66,469 | €92,613 | +€26,144 | +39.3% |
| Income taxes | 67/77 | €19,702 | €26,075 | +€6,373 | +32.3% |
| Profit (loss) for the period | 9904 | €46,768 | €66,539 | +€19,771 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,768 | €66,539 | +€19,771 | +42.3% |
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 11 October 2026 via checked.be.