JOHAN ALGOET: 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.
JOHAN ALGOET
Largest movements
- Cash -€24,894
down €24,894 (-49.9%), from €49,851 to €24,957
mainly Investment in fixed assets (net) (-€38,269) and Other debts (-€27,406)
- Tangible fixed assets +€21,729
up €21,729 (+88.1%), from €24,665 to €46,394
of which Furniture and vehicles: +€26,963
- Receivables within one year -€2,617
down €2,617 (-7.5%), from €34,914 to €32,297
of which Trade receivables: -€2,575
- Stocks and contracts +€1,710
up €1,710 (+14.1%), from €12,110 to €13,820
- Other debts -€27,406
down €27,406 (-48.8%), from €56,197 to €28,791
- Debts after one year +€12,999
up €12,999 (+2,923%), from €445 to €13,444
- Trade debts +€6,605
up €6,605 (+26.3%), from €25,111 to €31,717
- Tax, wage and social debts +€4,831
up €4,831 (+71.3%), from €6,773 to €11,604
of which Remuneration and social security: +€6,966
- Gross operating margin -€40,637
down €40,637 (-32.4%), from €125,616 to €84,979
- Financial income +€4,711
up €4,711 (+4,711%), from €100 to €4,811
of which Non-recurring financial income: +€4,746
- Depreciation +€3,313
up €3,313 (+25.0%), from €13,227 to €16,540
- Financial charges +€2,385
up €2,385 (+96.3%), from €2,476 to €4,861
- Staff costs +€1,278
up €1,278 (+2.0%), from €64,072 to €65,350
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 | €123,238 | €120,383 | -€2,855 | -2.3% |
| Fixed assets | 21/28 | €24,715 | €46,444 | +€21,729 | +87.9% |
| Tangible fixed assets | 22/27 | €24,665 | €46,394 | +€21,729 | +88.1% |
| Land and buildings | 22 | €18,012 | €12,778 | -€5,234 | -29.1% |
| Furniture and vehicles | 24 | €6,653 | €33,616 | +€26,963 | +405% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €98,523 | €73,939 | -€24,584 | -25.0% |
| Stocks and contracts in progress | 3 | €12,110 | €13,820 | +€1,710 | +14.1% |
| Stocks | 30/36 | €12,110 | €13,820 | +€1,710 | +14.1% |
| Amounts receivable within one year | 40/41 | €34,914 | €32,297 | -€2,617 | -7.5% |
| Trade receivables | 40 | €31,492 | €28,917 | -€2,575 | -8.2% |
| Other amounts receivable | 41 | €3,422 | €3,380 | -€42 | -1.2% |
| Cash at bank and in hand | 54/58 | €49,851 | €24,957 | -€24,894 | -49.9% |
| Deferred charges and accrued income | 490/1 | €1,647 | €2,866 | +€1,218 | +74.0% |
| Total equity and liabilities | 10/49 | €123,238 | €120,383 | -€2,855 | -2.3% |
| Equity | 10/15 | €28,517 | €27,975 | -€542 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,917 | €9,375 | -€542 | -5.5% |
| Tax-exempt reserves | 132 | €858 | €858 | = | 0.0% |
| Distributable reserves | 133 | €9,059 | €8,517 | -€542 | -6.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €94,721 | €92,408 | -€2,313 | -2.4% |
| Amounts payable after more than one year | 17 | €445 | €13,444 | +€12,999 | +2,923% |
| Financial debts | 170/4 | €445 | €13,444 | +€12,999 | +2,923% |
| Amounts payable within one year | 42/48 | €94,276 | €78,679 | -€15,597 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €6,195 | €6,568 | +€373 | +6.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €25,111 | €31,717 | +€6,605 | +26.3% |
| Suppliers | 440/4 | €25,111 | €31,717 | +€6,605 | +26.3% |
| Taxes, remuneration and social security | 45 | €6,773 | €11,604 | +€4,831 | +71.3% |
| Taxes | 450/3 | €3,271 | €1,136 | -€2,135 | -65.3% |
| Remuneration and social security | 454/9 | €3,502 | €10,468 | +€6,966 | +199% |
| Other amounts payable | 47/48 | €56,197 | €28,791 | -€27,406 | -48.8% |
| Accrued charges and deferred income | 492/3 | - | €285 | +€285 | |
| Remuneration, social security and pensions | 62 | €64,072 | €65,350 | +€1,278 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,227 | €16,540 | +€3,313 | +25.0% |
| Other operating charges | 640/8 | €2,116 | €2,608 | +€492 | +23.3% |
| Gross operating margin | 9900 | €125,616 | €84,979 | -€40,637 | -32.4% |
| Operating profit (loss) | 9901 | €46,201 | €481 | -€45,720 | -99.0% |
| Financial income | 75/76B | €100 | €4,811 | +€4,711 | +4,711% |
| Recurring financial income | 75 | €100 | €65 | -€35 | -34.9% |
| Non-recurring financial income | 76B | - | €4,746 | +€4,746 | |
| Financial charges | 65/66B | €2,476 | €4,861 | +€2,385 | +96.3% |
| Recurring financial charges | 65 | €2,476 | €4,861 | +€2,385 | +96.3% |
| Profit (loss) for the period before taxes | 9903 | €43,825 | €431 | -€43,395 | -99.0% |
| Income taxes | 67/77 | €140 | €140 | +€0 | +0.2% |
| Profit (loss) for the period | 9904 | €43,686 | €291 | -€43,395 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,686 | €291 | -€43,395 | -99.3% |
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 27 October 2026 via checked.be.