JOËL VAN HAUTE: 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.
JOËL VAN HAUTE
Largest movements
- Cash +€85,552
up €85,552 (+59.1%), from €144,857 to €230,409
mainly Depreciation (+€67,333) and Net result for the year (+€46,581)
- Tangible fixed assets -€59,743
down €59,743 (-37.4%), from €159,933 to €100,191
of which Furniture and vehicles: -€43,817
- Receivables within one year -€44,628
down €44,628 (-94.9%), from €47,011 to €2,383
of which Other amounts receivable: -€44,763
- Current investments -€20,001
down €20,001 (-6.1%), from €326,439 to €306,438
- Deferred charges and accrued income +€7,905
up €7,905 (+14.5%), from €54,443 to €62,348
- Other debts -€52,619
down €52,619 (-95.7%), from €55,006 to €2,386
- Reserves +€46,581
up €46,581 (+9.2%), from €504,844 to €551,426
of which Distributable reserves: +€45,818
- Debts after one year -€28,871
down €28,871 (-41.1%), from €70,220 to €41,348
- Tax, wage and social debts +€15,671
up €15,671 (+31.3%), from €50,011 to €65,682
of which Taxes: +€9,040
- Current portion of long-term debt -€11,414
down €11,414 (-28.3%), from €40,285 to €28,871
- Gross operating margin +€70,461
up €70,461 (+17.7%), from €398,118 to €468,579
- Staff costs -€32,495
down €32,495 (-8.8%), from €368,526 to €336,030
- Taxes +€15,469
up €15,469 (+1,027%), from €1,506 to €16,975
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 | €732,683 | €701,768 | -€30,915 | -4.2% |
| Fixed assets | 21/28 | €159,933 | €100,191 | -€59,743 | -37.4% |
| Tangible fixed assets | 22/27 | €159,933 | €100,191 | -€59,743 | -37.4% |
| Plant, machinery and equipment | 23 | €10,355 | €9,482 | -€873 | -8.4% |
| Furniture and vehicles | 24 | €119,902 | €76,085 | -€43,817 | -36.5% |
| Other tangible fixed assets | 26 | €29,676 | €14,623 | -€15,053 | -50.7% |
| Current assets | 29/58 | €572,750 | €601,578 | +€28,828 | +5.0% |
| Amounts receivable within one year | 40/41 | €47,011 | €2,383 | -€44,628 | -94.9% |
| Trade receivables | 40 | €0 | €135 | +€135 | |
| Other amounts receivable | 41 | €47,011 | €2,249 | -€44,763 | -95.2% |
| Current investments | 50/53 | €326,439 | €306,438 | -€20,001 | -6.1% |
| Cash at bank and in hand | 54/58 | €144,857 | €230,409 | +€85,552 | +59.1% |
| Deferred charges and accrued income | 490/1 | €54,443 | €62,348 | +€7,905 | +14.5% |
| Total equity and liabilities | 10/49 | €732,683 | €701,768 | -€30,915 | -4.2% |
| Equity | 10/15 | €506,344 | €552,926 | +€46,581 | +9.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €504,844 | €551,426 | +€46,581 | +9.2% |
| Tax-exempt reserves | 132 | €38,687 | €39,451 | +€764 | +2.0% |
| Distributable reserves | 133 | €466,157 | €511,975 | +€45,818 | +9.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €226,339 | €148,843 | -€77,496 | -34.2% |
| Amounts payable after more than one year | 17 | €70,220 | €41,348 | -€28,871 | -41.1% |
| Financial debts | 170/4 | €70,220 | €41,348 | -€28,871 | -41.1% |
| Amounts payable within one year | 42/48 | €155,611 | €106,814 | -€48,797 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €40,285 | €28,871 | -€11,414 | -28.3% |
| Financial debts | 43 | - | €725 | +€725 | |
| Credit institutions | 430/8 | - | €725 | +€725 | |
| Trade debts | 44 | €10,309 | €9,150 | -€1,159 | -11.2% |
| Suppliers | 440/4 | €10,309 | €9,150 | -€1,159 | -11.2% |
| Taxes, remuneration and social security | 45 | €50,011 | €65,682 | +€15,671 | +31.3% |
| Taxes | 450/3 | €14,557 | €23,597 | +€9,040 | +62.1% |
| Remuneration and social security | 454/9 | €35,454 | €42,085 | +€6,630 | +18.7% |
| Other amounts payable | 47/48 | €55,006 | €2,386 | -€52,619 | -95.7% |
| Accrued charges and deferred income | 492/3 | €508 | €680 | +€172 | +33.9% |
| Non-recurring operating income | 76A | €8,594 | €0 | -€8,594 | -100% |
| Remuneration, social security and pensions | 62 | €368,526 | €336,030 | -€32,495 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,374 | €67,333 | +€3,959 | +6.2% |
| Other operating charges | 640/8 | €2,091 | €2,084 | -€7 | -0.3% |
| Gross operating margin | 9900 | €398,118 | €468,579 | +€70,461 | +17.7% |
| Operating profit (loss) | 9901 | -€35,872 | €63,132 | +€99,004 | |
| Financial income | 75/76B | €5,502 | €3,884 | -€1,618 | -29.4% |
| Recurring financial income | 75 | €5,502 | €3,884 | -€1,618 | -29.4% |
| Financial charges | 65/66B | €3,145 | €3,460 | +€315 | +10.0% |
| Recurring financial charges | 65 | €3,145 | €3,460 | +€315 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,515 | €63,556 | +€97,071 | |
| Income taxes | 67/77 | €1,506 | €16,975 | +€15,469 | +1,027% |
| Profit (loss) for the period | 9904 | -€35,021 | €46,581 | +€81,602 | |
| Transfer to tax-exempt reserves | 689 | €764 | €764 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,785 | €45,818 | +€81,602 |
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 21 October 2026 via checked.be.