JEAN VERDONCK: 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 VERDONCK
Largest movements
- Cash +€688,059
up €688,059 (+162%), from €424,970 to €1.1m
mainly Net result for the year (+€421,903) and Current investments (+€200,000)
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Receivables within one year -€56,261
down €56,261 (-23.7%), from €237,398 to €181,137
of which Other amounts receivable: -€40,947
- Tangible fixed assets +€31,060
up €31,060 (+25.4%), from €122,446 to €153,506
of which Furniture and vehicles: +€45,102
- Deferred charges and accrued income +€18,297
new in 2025: €18,297
- Reserves +€340,403
up €340,403 (+40.5%), from €840,090 to €1.2m
- Tax, wage and social debts +€157,367
up €157,367 (+170%), from €92,335 to €249,702
of which Taxes: +€157,367
- Current portion of long-term debt -€14,852
down €14,852 (-61.0%), from €24,362 to €9,509
- Gross operating margin +€293,409
up €293,409 (+70.9%), from €413,696 to €707,105
- Taxes +€103,947
up €103,947 (+95.3%), from €109,100 to €213,047
- Write-downs +€33,058
new in 2025: €33,058
- Depreciation -€10,507
down €10,507 (-20.0%), from €52,424 to €41,917
- Financial income +€7,764
up €7,764 (+461%), from €1,684 to €9,448
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 | €984,814 | €1,465,969 | +€481,155 | +48.9% |
| Fixed assets | 21/28 | €122,446 | €153,506 | +€31,060 | +25.4% |
| Tangible fixed assets | 22/27 | €122,446 | €153,506 | +€31,060 | +25.4% |
| Land and buildings | 22 | €31,345 | €19,238 | -€12,107 | -38.6% |
| Plant, machinery and equipment | 23 | €65,186 | €63,250 | -€1,936 | -3.0% |
| Furniture and vehicles | 24 | €25,915 | €71,017 | +€45,102 | +174% |
| Current assets | 29/58 | €862,368 | €1,312,463 | +€450,095 | +52.2% |
| Amounts receivable within one year | 40/41 | €237,398 | €181,137 | -€56,261 | -23.7% |
| Trade receivables | 40 | €182,256 | €166,942 | -€15,314 | -8.4% |
| Other amounts receivable | 41 | €55,142 | €14,195 | -€40,947 | -74.3% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €424,970 | €1,113,029 | +€688,059 | +162% |
| Deferred charges and accrued income | 490/1 | - | €18,297 | +€18,297 | |
| Total equity and liabilities | 10/49 | €984,814 | €1,465,969 | +€481,155 | +48.9% |
| Equity | 10/15 | €858,690 | €1,199,093 | +€340,403 | +39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €840,090 | €1,180,493 | +€340,403 | +40.5% |
| Distributable reserves | 133 | €840,090 | €1,180,493 | +€340,403 | +40.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €126,124 | €266,876 | +€140,752 | +112% |
| Amounts payable after more than one year | 17 | €8,154 | €0 | -€8,154 | -100% |
| Financial debts | 170/4 | €8,154 | €0 | -€8,154 | -100% |
| Amounts payable within one year | 42/48 | €117,952 | €266,869 | +€148,917 | +126% |
| Current portion of amounts payable after more than one year | 42 | €24,362 | €9,509 | -€14,852 | -61.0% |
| Trade debts | 44 | €1,256 | €7,658 | +€6,402 | +510% |
| Suppliers | 440/4 | €1,256 | €7,658 | +€6,402 | +510% |
| Taxes, remuneration and social security | 45 | €92,335 | €249,702 | +€157,367 | +170% |
| Taxes | 450/3 | €92,335 | €249,702 | +€157,367 | +170% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €18 | €7 | -€11 | -63.0% |
| Non-recurring operating income | 76A | €0 | €12,000 | +€12,000 | |
| Remuneration, social security and pensions | 62 | €6,287 | €0 | -€6,287 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,424 | €41,917 | -€10,507 | -20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €33,058 | +€33,058 | |
| Other operating charges | 640/8 | €4,735 | €3,530 | -€1,205 | -25.4% |
| Non-recurring operating charges | 66A | - | €1,936 | +€1,936 | |
| Gross operating margin | 9900 | €413,696 | €707,105 | +€293,409 | +70.9% |
| Operating profit (loss) | 9901 | €350,250 | €626,664 | +€276,414 | +78.9% |
| Financial income | 75/76B | €1,684 | €9,448 | +€7,764 | +461% |
| Recurring financial income | 75 | €1,684 | €9,448 | +€7,764 | +461% |
| Financial charges | 65/66B | €1,941 | €1,163 | -€778 | -40.1% |
| Recurring financial charges | 65 | €1,941 | €1,163 | -€778 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €349,993 | €634,949 | +€284,956 | +81.4% |
| Income taxes | 67/77 | €109,100 | €213,047 | +€103,947 | +95.3% |
| Profit (loss) for the period | 9904 | €240,893 | €421,903 | +€181,010 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €240,893 | €421,903 | +€181,010 | +75.1% |
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 14 October 2026 via checked.be.