Jennifer Santos: 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.
Jennifer Santos
Largest movements
- Cash +€13,001
up €13,001 (+23.2%), from €55,991 to €68,992
mainly Net result for the year (+€21,153) and Trade debts (+€5,761)
- Receivables within one year +€5,254
up €5,254 (+18.0%), from €29,212 to €34,465
of which Trade receivables: +€5,404
- Profit (loss) carried forward +€17,553
up €17,553 (+66.3%), from €26,481 to €44,034
- Trade debts +€5,761
up €5,761 (+2,063%), from €279 to €6,040
- Other debts -€5,000
down €5,000 (-100%), from €5,000 to €0
- Gross operating margin -€2,546
down €2,546 (-8.2%), from €31,134 to €28,588
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 | €87,484 | €105,105 | +€17,621 | +20.1% |
| Fixed assets | 21/28 | €95 | €0 | -€95 | -100% |
| Tangible fixed assets | 22/27 | €95 | €0 | -€95 | -100% |
| Land and buildings | 22 | €95 | €0 | -€95 | -100% |
| Current assets | 29/58 | €87,389 | €105,105 | +€17,716 | +20.3% |
| Amounts receivable within one year | 40/41 | €29,212 | €34,465 | +€5,254 | +18.0% |
| Trade receivables | 40 | €26,093 | €31,497 | +€5,404 | +20.7% |
| Other amounts receivable | 41 | €3,119 | €2,968 | -€150 | -4.8% |
| Cash at bank and in hand | 54/58 | €55,991 | €68,992 | +€13,001 | +23.2% |
| Deferred charges and accrued income | 490/1 | €2,186 | €1,647 | -€539 | -24.7% |
| Total equity and liabilities | 10/49 | €87,484 | €105,105 | +€17,621 | +20.1% |
| Equity | 10/15 | €71,796 | €89,349 | +€17,553 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,715 | €26,715 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,855 | €24,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,481 | €44,034 | +€17,553 | +66.3% |
| Amounts payable | 17/49 | €15,687 | €15,755 | +€68 | +0.4% |
| Amounts payable within one year | 42/48 | €15,687 | €15,755 | +€68 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €279 | €6,040 | +€5,761 | +2,063% |
| Suppliers | 440/4 | €279 | €6,040 | +€5,761 | +2,063% |
| Taxes, remuneration and social security | 45 | €10,408 | €9,715 | -€693 | -6.7% |
| Taxes | 450/3 | €9,749 | €8,949 | -€800 | -8.2% |
| Remuneration and social security | 454/9 | €659 | €766 | +€107 | +16.2% |
| Other amounts payable | 47/48 | €5,000 | €0 | -€5,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147 | €95 | -€52 | -35.4% |
| Other operating charges | 640/8 | €737 | €840 | +€104 | +14.1% |
| Gross operating margin | 9900 | €31,134 | €28,588 | -€2,546 | -8.2% |
| Operating profit (loss) | 9901 | €30,251 | €27,652 | -€2,598 | -8.6% |
| Financial income | 75/76B | €0 | €39 | +€39 | |
| Recurring financial income | 75 | €0 | €39 | +€39 | |
| Financial charges | 65/66B | €2 | €7 | +€5 | +291% |
| Recurring financial charges | 65 | €2 | €7 | +€5 | +291% |
| Profit (loss) for the period before taxes | 9903 | €30,249 | €27,685 | -€2,564 | -8.5% |
| Income taxes | 67/77 | €6,734 | €6,532 | -€203 | -3.0% |
| Profit (loss) for the period | 9904 | €23,515 | €21,153 | -€2,362 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,515 | €21,153 | -€2,362 | -10.0% |
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 30 October 2026 via checked.be.