Jo DESSART: 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.
Jo DESSART
Largest movements
- Cash +€728,414
up €728,414 (+10,205%), from €7,138 to €735,552
mainly Current investments (+€725,595) and Net result for the year (+€178,897)
- Current investments -€725,595
no longer reported in 2025 (was €725,595)
- Receivables within one year +€116,952
up €116,952 (+24.0%), from €488,269 to €605,221
of which Trade receivables: +€76,141
- Reserves +€134,248
up €134,248 (+24.1%), from €556,190 to €690,438
of which Distributable reserves: +€134,248
- Other debts -€33,206
down €33,206 (-43.9%), from €75,639 to €42,433
- Tax, wage and social debts -€27,046
down €27,046 (-32.3%), from €83,712 to €56,665
of which Taxes: -€29,149
- Gross operating margin -€58,546
down €58,546 (-9.2%), from €637,267 to €578,721
- Depreciation +€16,959
up €16,959 (+36.6%), from €46,320 to €63,278
- Staff costs +€15,815
up €15,815 (+7.0%), from €226,189 to €242,004
- Taxes -€14,628
down €14,628 (-15.2%), from €96,364 to €81,736
- Other operating charges -€11,655
down €11,655 (-61.2%), from €19,056 to €7,401
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 | €1,553,476 | €1,642,282 | +€88,806 | +5.7% |
| Fixed assets | 21/28 | €241,090 | €232,437 | -€8,653 | -3.6% |
| Tangible fixed assets | 22/27 | €199,011 | €190,358 | -€8,653 | -4.3% |
| Plant, machinery and equipment | 23 | €55,380 | €39,119 | -€16,261 | -29.4% |
| Furniture and vehicles | 24 | €136,773 | €151,239 | +€14,466 | +10.6% |
| Leasing and similar rights | 25 | €6,858 | - | -€6,858 | |
| Financial fixed assets | 28 | €42,079 | €42,079 | = | 0.0% |
| Current assets | 29/58 | €1,312,386 | €1,409,845 | +€97,459 | +7.4% |
| Stocks and contracts in progress | 3 | €81,775 | €69,072 | -€12,702 | -15.5% |
| Stocks | 30/36 | €81,775 | €69,072 | -€12,702 | -15.5% |
| Amounts receivable within one year | 40/41 | €488,269 | €605,221 | +€116,952 | +24.0% |
| Trade receivables | 40 | €456,080 | €532,221 | +€76,141 | +16.7% |
| Other amounts receivable | 41 | €32,189 | €73,001 | +€40,811 | +127% |
| Current investments | 50/53 | €725,595 | - | -€725,595 | |
| Cash at bank and in hand | 54/58 | €7,138 | €735,552 | +€728,414 | +10,205% |
| Deferred charges and accrued income | 490/1 | €9,610 | - | -€9,610 | |
| Total equity and liabilities | 10/49 | €1,553,476 | €1,642,282 | +€88,806 | +5.7% |
| Equity | 10/15 | €574,782 | €709,030 | +€134,248 | +23.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €556,190 | €690,438 | +€134,248 | +24.1% |
| Tax-exempt reserves | 132 | €21,442 | €21,442 | = | 0.0% |
| Distributable reserves | 133 | €534,748 | €668,995 | +€134,248 | +25.1% |
| Amounts payable | 17/49 | €978,694 | €933,252 | -€45,442 | -4.6% |
| Amounts payable after more than one year | 17 | €95,735 | €102,694 | +€6,959 | +7.3% |
| Financial debts | 170/4 | €95,735 | €102,694 | +€6,959 | +7.3% |
| Amounts payable within one year | 42/48 | €882,959 | €830,558 | -€52,401 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €39,112 | €36,873 | -€2,239 | -5.7% |
| Trade debts | 44 | €684,496 | €694,586 | +€10,090 | +1.5% |
| Suppliers | 440/4 | €684,496 | €694,586 | +€10,090 | +1.5% |
| Taxes, remuneration and social security | 45 | €83,712 | €56,665 | -€27,046 | -32.3% |
| Taxes | 450/3 | €41,224 | €12,074 | -€29,149 | -70.7% |
| Remuneration and social security | 454/9 | €42,488 | €44,591 | +€2,103 | +5.0% |
| Other amounts payable | 47/48 | €75,639 | €42,433 | -€33,206 | -43.9% |
| Remuneration, social security and pensions | 62 | €226,189 | €242,004 | +€15,815 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,320 | €63,278 | +€16,959 | +36.6% |
| Other operating charges | 640/8 | €19,056 | €7,401 | -€11,655 | -61.2% |
| Gross operating margin | 9900 | €637,267 | €578,721 | -€58,546 | -9.2% |
| Operating profit (loss) | 9901 | €345,702 | €266,039 | -€79,664 | -23.0% |
| Financial income | 75/76B | €3,878 | €2,847 | -€1,031 | -26.6% |
| Recurring financial income | 75 | €3,878 | €2,847 | -€1,031 | -26.6% |
| Financial charges | 65/66B | €8,460 | €8,252 | -€207 | -2.4% |
| Recurring financial charges | 65 | €7,864 | €7,970 | +€106 | +1.3% |
| Non-recurring financial charges | 66B | €595 | €283 | -€313 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €341,120 | €260,633 | -€80,488 | -23.6% |
| Income taxes | 67/77 | €96,364 | €81,736 | -€14,628 | -15.2% |
| Profit (loss) for the period | 9904 | €244,756 | €178,897 | -€65,859 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €244,756 | €178,897 | -€65,859 | -26.9% |
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 13 October 2026 via checked.be.