Jeffrey Beetens: 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.
Jeffrey Beetens
Largest movements
- Cash -€41,911
down €41,911 (-20.9%), from €200,240 to €158,329
mainly Contributions, distributions and other (-€257,645) and Tax, wage and social debts (-€26,668)
- Current investments -€23,107
down €23,107 (-100%), from €23,107 to €0
- Reserves -€176,802
down €176,802 (-96.8%), from €182,645 to €5,843
- Other debts +€136,494
new in 2025: €136,494
- Tax, wage and social debts -€26,668
down €26,668 (-54.8%), from €48,652 to €21,985
- Gross operating margin -€23,385
down €23,385 (-17.6%), from €132,905 to €109,520
- Taxes -€5,750
down €5,750 (-20.9%), from €27,528 to €21,778
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 | €237,764 | €171,048 | -€66,717 | -28.1% |
| Fixed assets | 21/28 | €12,824 | €11,126 | -€1,698 | -13.2% |
| Tangible fixed assets | 22/27 | €12,824 | €11,126 | -€1,698 | -13.2% |
| Plant, machinery and equipment | 23 | €3,551 | €3,174 | -€377 | -10.6% |
| Furniture and vehicles | 24 | €1,158 | €767 | -€391 | -33.7% |
| Other tangible fixed assets | 26 | €8,115 | €7,184 | -€931 | -11.5% |
| Current assets | 29/58 | €224,940 | €159,922 | -€65,018 | -28.9% |
| Amounts receivable within one year | 40/41 | €0 | €155 | +€155 | |
| Trade receivables | 40 | - | €155 | +€155 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €23,107 | €0 | -€23,107 | -100% |
| Cash at bank and in hand | 54/58 | €200,240 | €158,329 | -€41,911 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,593 | €1,438 | -€156 | -9.8% |
| Total equity and liabilities | 10/49 | €237,764 | €171,048 | -€66,717 | -28.1% |
| Equity | 10/15 | €187,645 | €10,843 | -€176,802 | -94.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €182,645 | €5,843 | -€176,802 | -96.8% |
| Distributable reserves | 133 | €182,645 | €5,843 | -€176,802 | -96.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €50,119 | €160,204 | +€110,085 | +220% |
| Amounts payable within one year | 42/48 | €50,119 | €160,204 | +€110,085 | +220% |
| Trade debts | 44 | €1,467 | €1,726 | +€259 | +17.7% |
| Suppliers | 440/4 | €1,467 | €1,726 | +€259 | +17.7% |
| Taxes, remuneration and social security | 45 | €48,652 | €21,985 | -€26,668 | -54.8% |
| Taxes | 450/3 | €48,652 | €21,985 | -€26,668 | -54.8% |
| Other amounts payable | 47/48 | - | €136,494 | +€136,494 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €496 | €1,698 | +€1,203 | +243% |
| Other operating charges | 640/8 | €621 | €1,679 | +€1,057 | +170% |
| Gross operating margin | 9900 | €132,905 | €109,520 | -€23,385 | -17.6% |
| Operating profit (loss) | 9901 | €131,788 | €106,143 | -€25,645 | -19.5% |
| Financial income | 75/76B | €323 | €798 | +€475 | +147% |
| Recurring financial income | 75 | €323 | €798 | +€475 | +147% |
| Financial charges | 65/66B | €4,288 | €4,320 | +€31 | +0.7% |
| Recurring financial charges | 65 | €4,288 | €4,320 | +€31 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €127,823 | €102,621 | -€25,202 | -19.7% |
| Income taxes | 67/77 | €27,528 | €21,778 | -€5,750 | -20.9% |
| Profit (loss) for the period | 9904 | €100,295 | €80,843 | -€19,452 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €100,295 | €80,843 | -€19,452 | -19.4% |
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 15 October 2026 via checked.be.