JENCHENNE Raphaël: 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.
JENCHENNE Raphaël
Largest movements
- Stocks and contracts -€25,426
down €25,426 (-49.8%), from €51,051 to €25,625
- Receivables within one year +€23,641
up €23,641 (+171%), from €13,818 to €37,459
of which Trade receivables: +€24,960
- Tangible fixed assets -€19,793
down €19,793 (-12.1%), from €163,025 to €143,232
of which Furniture and vehicles: -€11,489
- Cash -€12,309
down €12,309 (-71.6%), from €17,201 to €4,892
mainly Receivables within one year (-€23,641) and Debts after one year (-€16,077)
- Debts after one year -€16,077
down €16,077 (-22.1%), from €72,680 to €56,602
- Other debts -€13,696
down €13,696 (-94.3%), from €14,529 to €833
- Tax, wage and social debts -€8,121
down €8,121 (-40.6%), from €20,019 to €11,898
of which Taxes: -€7,137
- Reserves +€4,209
up €4,209 (+6.8%), from €62,024 to €66,234
of which Distributable reserves: +€4,209
- Gross operating margin +€23,346
up €23,346 (+15.6%), from €149,882 to €173,227
- Staff costs +€15,253
up €15,253 (+13.1%), from €116,756 to €132,009
- Depreciation +€4,768
up €4,768 (+18.6%), from €25,657 to €30,425
- Taxes +€2,579
up €2,579 (+210%), from €1,228 to €3,807
- Financial charges +€2,111
up €2,111 (+51.3%), from €4,112 to €6,223
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 | €250,629 | €216,280 | -€34,349 | -13.7% |
| Fixed assets | 21/28 | €163,025 | €143,232 | -€19,793 | -12.1% |
| Tangible fixed assets | 22/27 | €163,025 | €143,232 | -€19,793 | -12.1% |
| Land and buildings | 22 | €92,706 | €83,593 | -€9,113 | -9.8% |
| Plant, machinery and equipment | 23 | €17,101 | €17,910 | +€809 | +4.7% |
| Furniture and vehicles | 24 | €53,218 | €41,729 | -€11,489 | -21.6% |
| Current assets | 29/58 | €87,605 | €73,048 | -€14,557 | -16.6% |
| Stocks and contracts in progress | 3 | €51,051 | €25,625 | -€25,426 | -49.8% |
| Stocks | 30/36 | €51,051 | €25,625 | -€25,426 | -49.8% |
| Amounts receivable within one year | 40/41 | €13,818 | €37,459 | +€23,641 | +171% |
| Trade receivables | 40 | €3,872 | €28,832 | +€24,960 | +645% |
| Other amounts receivable | 41 | €9,946 | €8,627 | -€1,319 | -13.3% |
| Cash at bank and in hand | 54/58 | €17,201 | €4,892 | -€12,309 | -71.6% |
| Deferred charges and accrued income | 490/1 | €5,534 | €5,072 | -€463 | -8.4% |
| Total equity and liabilities | 10/49 | €250,629 | €216,280 | -€34,349 | -13.7% |
| Equity | 10/15 | €113,143 | €116,519 | +€3,376 | +3.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €62,024 | €66,234 | +€4,209 | +6.8% |
| Tax-exempt reserves | 132 | €160 | €160 | = | 0.0% |
| Distributable reserves | 133 | €61,864 | €66,074 | +€4,209 | +6.8% |
| Profit (loss) carried forward | 14 | €43,058 | €42,225 | -€833 | -1.9% |
| Amounts payable | 17/49 | €137,487 | €99,761 | -€37,726 | -27.4% |
| Amounts payable after more than one year | 17 | €72,680 | €56,602 | -€16,077 | -22.1% |
| Financial debts | 170/4 | €72,680 | €56,602 | -€16,077 | -22.1% |
| Amounts payable within one year | 42/48 | €63,941 | €42,292 | -€21,648 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €15,701 | €16,077 | +€376 | +2.4% |
| Trade debts | 44 | €13,486 | €13,278 | -€208 | -1.5% |
| Suppliers | 440/4 | €13,486 | €13,278 | -€208 | -1.5% |
| Advances received on contracts in progress | 46 | €206 | €206 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €20,019 | €11,898 | -€8,121 | -40.6% |
| Taxes | 450/3 | €13,767 | €6,630 | -€7,137 | -51.8% |
| Remuneration and social security | 454/9 | €6,252 | €5,268 | -€984 | -15.7% |
| Other amounts payable | 47/48 | €14,529 | €833 | -€13,696 | -94.3% |
| Accrued charges and deferred income | 492/3 | €866 | €866 | = | 0.0% |
| Non-recurring operating income | 76A | €30,039 | - | -€30,039 | |
| Remuneration, social security and pensions | 62 | €116,756 | €132,009 | +€15,253 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,657 | €30,425 | +€4,768 | +18.6% |
| Other operating charges | 640/8 | €2,316 | €3,105 | +€789 | +34.1% |
| Non-recurring operating charges | 66A | €203 | €402 | +€199 | +97.8% |
| Gross operating margin | 9900 | €149,882 | €173,227 | +€23,346 | +15.6% |
| Operating profit (loss) | 9901 | €4,950 | €7,286 | +€2,336 | +47.2% |
| Financial income | 75/76B | €8,195 | €6,953 | -€1,242 | -15.2% |
| Recurring financial income | 75 | €8,195 | €6,953 | -€1,242 | -15.2% |
| Financial charges | 65/66B | €4,112 | €6,223 | +€2,111 | +51.3% |
| Recurring financial charges | 65 | €4,112 | €6,223 | +€2,111 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | €9,033 | €8,016 | -€1,017 | -11.3% |
| Income taxes | 67/77 | €1,228 | €3,807 | +€2,579 | +210% |
| Profit (loss) for the period | 9904 | €7,805 | €4,209 | -€3,596 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,805 | €4,209 | -€3,596 | -46.1% |
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.