Jochen Scheys: 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.
Jochen Scheys
Largest movements
- Intangible fixed assets -€123,845
down €123,845 (-12.5%), from €990,757 to €866,913
- Receivables within one year -€97,317
down €97,317 (-49.9%), from €194,980 to €97,663
of which Other amounts receivable: -€90,863
- Tangible fixed assets +€93,038
up €93,038 (+622.3%), from €14,950 to €107,988
of which Other tangible fixed assets: +€71,279
- Cash -€39,551
down €39,551 (-48.1%), from €82,228 to €42,677
mainly Other debts (-€171,423) and Debts after one year (-€115,619)
- Other debts -€171,423
down €171,423 (-68.6%), from €250,000 to €78,577
- Debts after one year -€115,619
down €115,619 (-13.6%), from €849,673 to €734,053
- Short-term financial debts +€96,306
up €96,306 (+1136.5%), from €8,474 to €104,780
- Trade debts +€29,619
up €29,619 (+85.5%), from €34,634 to €64,253
- Staff costs +€38,909
up €38,909 (+8.3%), from €471,005 to €509,914
- Gross operating margin -€25,946
down €25,946 (-3.3%), from €797,314 to €771,368
- Taxes -€19,559
down €19,559 (-36.1%), from €54,106 to €34,547
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 | €1,369,619 | €1,211,265 | -€158,354 | -11.6% |
| Fixed assets | 21/28 | €1,005,707 | €974,900 | -€30,806 | -3.1% |
| Intangible fixed assets | 21 | €990,757 | €866,913 | -€123,845 | -12.5% |
| Tangible fixed assets | 22/27 | €14,950 | €107,988 | +€93,038 | +622.3% |
| Furniture and vehicles | 24 | €10,314 | €32,073 | +€21,759 | +211.0% |
| Other tangible fixed assets | 26 | €4,635 | €75,915 | +€71,279 | +1537.7% |
| Current assets | 29/58 | €363,912 | €236,365 | -€127,547 | -35.0% |
| Amounts receivable within one year | 40/41 | €194,980 | €97,663 | -€97,317 | -49.9% |
| Trade receivables | 40 | €16,627 | €10,174 | -€6,453 | -38.8% |
| Other amounts receivable | 41 | €178,353 | €87,490 | -€90,863 | -50.9% |
| Cash at bank and in hand | 54/58 | €82,228 | €42,677 | -€39,551 | -48.1% |
| Deferred charges and accrued income | 490/1 | €86,704 | €96,024 | +€9,320 | +10.7% |
| Total equity and liabilities | 10/49 | €1,369,619 | €1,211,265 | -€158,354 | -11.6% |
| Equity | 10/15 | €20,820 | €10,000 | -€10,820 | -52.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €10,820 | - | -€10,820 | |
| Distributable reserves | 133 | €10,820 | - | -€10,820 | |
| Amounts payable | 17/49 | €1,348,799 | €1,201,265 | -€147,534 | -10.9% |
| Amounts payable after more than one year | 17 | €849,673 | €734,053 | -€115,619 | -13.6% |
| Financial debts | 170/4 | €849,673 | €734,053 | -€115,619 | -13.6% |
| Amounts payable within one year | 42/48 | €499,126 | €465,356 | -€33,770 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €112,809 | €125,126 | +€12,317 | +10.9% |
| Financial debts | 43 | €8,474 | €104,780 | +€96,306 | +1136.5% |
| Credit institutions | 430/8 | €8,474 | €104,780 | +€96,306 | +1136.5% |
| Trade debts | 44 | €34,634 | €64,253 | +€29,619 | +85.5% |
| Suppliers | 440/4 | €34,634 | €64,253 | +€29,619 | +85.5% |
| Taxes, remuneration and social security | 45 | €93,209 | €92,620 | -€589 | -0.6% |
| Taxes | 450/3 | €44,921 | €31,036 | -€13,886 | -30.9% |
| Remuneration and social security | 454/9 | €48,288 | €61,584 | +€13,296 | +27.5% |
| Other amounts payable | 47/48 | €250,000 | €78,577 | -€171,423 | -68.6% |
| Accrued charges and deferred income | 492/3 | - | €1,855 | +€1,855 | |
| Non-recurring operating income | 76A | €6,567 | €1,424 | -€5,143 | -78.3% |
| Remuneration, social security and pensions | 62 | €471,005 | €509,914 | +€38,909 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,503 | €128,526 | +€3,022 | +2.4% |
| Other operating charges | 640/8 | €3,243 | €2,439 | -€805 | -24.8% |
| Non-recurring operating charges | 66A | €1,706 | €816 | -€889 | -52.1% |
| Gross operating margin | 9900 | €797,314 | €771,368 | -€25,946 | -3.3% |
| Operating profit (loss) | 9901 | €195,857 | €129,673 | -€66,184 | -33.8% |
| Financial income | 75/76B | €1,209 | €1,249 | +€40 | +3.3% |
| Recurring financial income | 75 | €1,209 | €1,249 | +€40 | +3.3% |
| Financial charges | 65/66B | €22,516 | €30,418 | +€7,902 | +35.1% |
| Recurring financial charges | 65 | €22,516 | €30,418 | +€7,902 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €174,550 | €100,504 | -€74,046 | -42.4% |
| Income taxes | 67/77 | €54,106 | €34,547 | -€19,559 | -36.1% |
| Profit (loss) for the period | 9904 | €120,444 | €65,957 | -€54,487 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €120,444 | €65,957 | -€54,487 | -45.2% |
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 9 October 2026 via checked.be.