Jens Libbrecht: 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 Libbrecht
Largest movements
- Cash +€75,708
up €75,708 (+97.5%), from €77,626 to €153,333
mainly Net result for the year (+€92,831) and Tax, wage and social debts (+€26,491)
- Current investments +€40,000
new in 2025: €40,000
- Tangible fixed assets -€10,710
down €10,710 (-25.5%), from €42,008 to €31,298
of which Furniture and vehicles: -€10,579
- Reserves +€92,831
up €92,831 (+170.3%), from €54,526 to €147,356
- Tax, wage and social debts +€26,491
up €26,491 (+106.6%), from €24,857 to €51,348
- Debts after one year -€12,000
down €12,000 (-51.1%), from €23,495 to €11,495
- Trade debts -€2,862
down €2,862 (-66.6%), from €4,295 to €1,433
- Gross operating margin +€43,572
up €43,572 (+51.1%), from €85,240 to €128,812
- Taxes +€10,763
up €10,763 (+74.5%), from €14,451 to €25,214
- Depreciation -€3,477
down €3,477 (-24.5%), from €14,187 to €10,710
- Financial income +€1,592
up €1,592 (+4866.2%), from €33 to €1,624
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 | €119,634 | €224,631 | +€104,998 | +87.8% |
| Fixed assets | 21/28 | €42,008 | €31,298 | -€10,710 | -25.5% |
| Tangible fixed assets | 22/27 | €42,008 | €31,298 | -€10,710 | -25.5% |
| Plant, machinery and equipment | 23 | €654 | €523 | -€131 | -20.0% |
| Furniture and vehicles | 24 | €41,354 | €30,775 | -€10,579 | -25.6% |
| Current assets | 29/58 | €77,626 | €193,333 | +€115,708 | +149.1% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €77,626 | €153,333 | +€75,708 | +97.5% |
| Total equity and liabilities | 10/49 | €119,634 | €224,631 | +€104,998 | +87.8% |
| Equity | 10/15 | €55,526 | €148,356 | +€92,831 | +167.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €54,526 | €147,356 | +€92,831 | +170.3% |
| Distributable reserves | 133 | €54,526 | €147,356 | +€92,831 | +170.3% |
| Amounts payable | 17/49 | €64,108 | €76,275 | +€12,167 | +19.0% |
| Amounts payable after more than one year | 17 | €23,495 | €11,495 | -€12,000 | -51.1% |
| Financial debts | 170/4 | €23,495 | €11,495 | -€12,000 | -51.1% |
| Amounts payable within one year | 42/48 | €40,613 | €64,781 | +€24,167 | +59.5% |
| Current portion of amounts payable after more than one year | 42 | €11,461 | €12,000 | +€538 | +4.7% |
| Trade debts | 44 | €4,295 | €1,433 | -€2,862 | -66.6% |
| Suppliers | 440/4 | €4,295 | €1,433 | -€2,862 | -66.6% |
| Taxes, remuneration and social security | 45 | €24,857 | €51,348 | +€26,491 | +106.6% |
| Taxes | 450/3 | €24,857 | €51,348 | +€26,491 | +106.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,187 | €10,710 | -€3,477 | -24.5% |
| Other operating charges | 640/8 | - | €208 | +€208 | |
| Gross operating margin | 9900 | €85,240 | €128,812 | +€43,572 | +51.1% |
| Operating profit (loss) | 9901 | €71,053 | €117,894 | +€46,841 | +65.9% |
| Financial income | 75/76B | €33 | €1,624 | +€1,592 | +4866.2% |
| Recurring financial income | 75 | €33 | €1,624 | +€1,592 | +4866.2% |
| Financial charges | 65/66B | €2,110 | €1,475 | -€635 | -30.1% |
| Recurring financial charges | 65 | €2,110 | €1,475 | -€635 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €68,976 | €118,044 | +€49,068 | +71.1% |
| Income taxes | 67/77 | €14,451 | €25,214 | +€10,763 | +74.5% |
| Profit (loss) for the period | 9904 | €54,526 | €92,831 | +€38,305 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,526 | €92,831 | +€38,305 | +70.3% |
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 12 October 2026 via checked.be.