Jens Devisch: 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.
Jens Devisch
Largest movements
- Tangible fixed assets -€23,619
down €23,619 (-29.8%), from €79,183 to €55,564
- Receivables within one year +€9,399
up €9,399 (+26.4%), from €35,583 to €44,982
of which Trade receivables: +€6,946
- Stocks and contracts -€5,661
down €5,661 (-38.8%), from €14,597 to €8,936
- Cash -€5,415
down €5,415 (-99.8%), from €5,426 to €11
mainly Debts after one year (-€18,822) and Trade debts (-€12,491)
- Debts after one year -€18,822
down €18,822 (-43.6%), from €43,209 to €24,387
- Trade debts -€12,491
down €12,491 (-47.5%), from €26,288 to €13,797
- Reserves +€7,201
up €7,201 (+17.4%), from €41,450 to €48,651
- Current portion of long-term debt -€2,313
down €2,313 (-10.9%), from €21,134 to €18,822
- Gross operating margin +€17,442
up €17,442 (+87.6%), from €19,905 to €37,347
- Taxes +€1,006
new in 2025: €1,006
- Financial charges -€953
down €953 (-17.7%), from €5,372 to €4,419
- Depreciation +€865
up €865 (+3.9%), from €22,205 to €23,070
- Financial income -€636
down €636 (-80.8%), from €787 to €151
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 | €137,091 | €110,662 | -€26,428 | -19.3% |
| Fixed assets | 21/28 | €80,562 | €56,718 | -€23,844 | -29.6% |
| Intangible fixed assets | 21 | €1,379 | €1,154 | -€225 | -16.3% |
| Tangible fixed assets | 22/27 | €79,183 | €55,564 | -€23,619 | -29.8% |
| Land and buildings | 22 | €13,240 | €11,910 | -€1,330 | -10.0% |
| Plant, machinery and equipment | 23 | €16,639 | €10,820 | -€5,819 | -35.0% |
| Furniture and vehicles | 24 | €18,095 | €10,673 | -€7,422 | -41.0% |
| Leasing and similar rights | 25 | €31,209 | €22,161 | -€9,048 | -29.0% |
| Current assets | 29/58 | €56,528 | €53,944 | -€2,584 | -4.6% |
| Stocks and contracts in progress | 3 | €14,597 | €8,936 | -€5,661 | -38.8% |
| Stocks | 30/36 | €14,597 | €8,936 | -€5,661 | -38.8% |
| Amounts receivable within one year | 40/41 | €35,583 | €44,982 | +€9,399 | +26.4% |
| Trade receivables | 40 | €11,280 | €18,226 | +€6,946 | +61.6% |
| Other amounts receivable | 41 | €24,303 | €26,756 | +€2,453 | +10.1% |
| Cash at bank and in hand | 54/58 | €5,426 | €11 | -€5,415 | -99.8% |
| Deferred charges and accrued income | 490/1 | €922 | €15 | -€907 | -98.3% |
| Total equity and liabilities | 10/49 | €137,091 | €110,662 | -€26,428 | -19.3% |
| Equity | 10/15 | €46,450 | €53,651 | +€7,201 | +15.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,450 | €48,651 | +€7,201 | +17.4% |
| Distributable reserves | 133 | €41,450 | €48,651 | +€7,201 | +17.4% |
| Amounts payable | 17/49 | €90,641 | €57,011 | -€33,630 | -37.1% |
| Amounts payable after more than one year | 17 | €43,209 | €24,387 | -€18,822 | -43.6% |
| Financial debts | 170/4 | €43,209 | €24,387 | -€18,822 | -43.6% |
| Amounts payable within one year | 42/48 | €47,432 | €32,624 | -€14,808 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €21,134 | €18,822 | -€2,313 | -10.9% |
| Trade debts | 44 | €26,288 | €13,797 | -€12,491 | -47.5% |
| Suppliers | 440/4 | €26,288 | €13,797 | -€12,491 | -47.5% |
| Taxes, remuneration and social security | 45 | €10 | €6 | -€4 | -43.7% |
| Taxes | 450/3 | €10 | €6 | -€4 | -43.7% |
| Non-recurring operating income | 76A | €4,506 | €157 | -€4,349 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,205 | €23,070 | +€865 | +3.9% |
| Other operating charges | 640/8 | €1,197 | €1,338 | +€142 | +11.8% |
| Non-recurring operating charges | 66A | €456 | €463 | +€7 | +1.5% |
| Gross operating margin | 9900 | €19,905 | €37,347 | +€17,442 | +87.6% |
| Operating profit (loss) | 9901 | -€3,953 | €12,475 | +€16,429 | |
| Financial income | 75/76B | €787 | €151 | -€636 | -80.8% |
| Recurring financial income | 75 | €787 | €151 | -€636 | -80.8% |
| Financial charges | 65/66B | €5,372 | €4,419 | -€953 | -17.7% |
| Recurring financial charges | 65 | €5,372 | €4,419 | -€953 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,538 | €8,208 | +€16,745 | |
| Income taxes | 67/77 | - | €1,006 | +€1,006 | |
| Profit (loss) for the period | 9904 | -€8,538 | €7,201 | +€15,739 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,538 | €7,201 | +€15,739 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.