Joeri Aertssen: 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.
Joeri Aertssen
Largest movements
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
- Cash +€102,350
up €102,350 (+412%), from €24,841 to €127,191
mainly Net result for the year (+€187,285) and Current investments (+€175,000)
- Other debts -€88,536
down €88,536 (-60.7%), from €145,821 to €57,285
- Tax, wage and social debts +€14,559
up €14,559 (+35.7%), from €40,740 to €55,299
- Gross operating margin +€16,083
up €16,083 (+7.1%), from €227,306 to €243,389
- Financial income -€14,251
down €14,251 (-89.4%), from €15,934 to €1,683
- Taxes +€2,717
up €2,717 (+5.1%), from €53,361 to €56,078
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 | €205,242 | €131,297 | -€73,945 | -36.0% |
| Fixed assets | 21/28 | €4,582 | €3,590 | -€992 | -21.6% |
| Tangible fixed assets | 22/27 | €4,582 | €3,590 | -€992 | -21.6% |
| Furniture and vehicles | 24 | €4,582 | €3,590 | -€992 | -21.6% |
| Current assets | 29/58 | €200,660 | €127,707 | -€72,953 | -36.4% |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €24,841 | €127,191 | +€102,350 | +412% |
| Deferred charges and accrued income | 490/1 | €819 | €516 | -€303 | -37.0% |
| Total equity and liabilities | 10/49 | €205,242 | €131,297 | -€73,945 | -36.0% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €186,692 | €112,747 | -€73,945 | -39.6% |
| Amounts payable within one year | 42/48 | €186,692 | €112,747 | -€73,945 | -39.6% |
| Trade debts | 44 | €131 | €163 | +€32 | +24.4% |
| Suppliers | 440/4 | €131 | €163 | +€32 | +24.4% |
| Taxes, remuneration and social security | 45 | €40,740 | €55,299 | +€14,559 | +35.7% |
| Taxes | 450/3 | €40,740 | €55,299 | +€14,559 | +35.7% |
| Other amounts payable | 47/48 | €145,821 | €57,285 | -€88,536 | -60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381 | €992 | +€611 | +160% |
| Other operating charges | 640/8 | €487 | €500 | +€13 | +2.7% |
| Gross operating margin | 9900 | €227,306 | €243,389 | +€16,083 | +7.1% |
| Operating profit (loss) | 9901 | €226,438 | €241,897 | +€15,459 | +6.8% |
| Financial income | 75/76B | €15,934 | €1,683 | -€14,251 | -89.4% |
| Recurring financial income | 75 | €15,934 | €1,683 | -€14,251 | -89.4% |
| Financial charges | 65/66B | €189 | €217 | +€28 | +14.8% |
| Recurring financial charges | 65 | €189 | €217 | +€28 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €242,183 | €243,363 | +€1,180 | +0.5% |
| Income taxes | 67/77 | €53,361 | €56,078 | +€2,717 | +5.1% |
| Profit (loss) for the period | 9904 | €188,822 | €187,285 | -€1,537 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €188,822 | €187,285 | -€1,537 | -0.8% |
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 22 October 2026 via checked.be.