Johan De Doncker: 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 De Doncker
Largest movements
- Tangible fixed assets +€53,592
up €53,592 (+10.3%), from €521,201 to €574,793
of which Land and buildings: +€46,363
- Current investments -€35,000
down €35,000 (-55.8%), from €62,681 to €27,681
- Cash +€22,210
up €22,210 (+15.1%), from €147,350 to €169,560
mainly Depreciation (+€63,570) and Current investments (+€35,000)
- Trade debts +€27,151
up €27,151 (+136%), from €20,025 to €47,177
- Current portion of long-term debt +€10,604
up €10,604 (+9.6%), from €110,889 to €121,493
- Reserves +€7,774
up €7,774 (+5.4%), from €143,012 to €150,786
of which Distributable reserves: +€7,774
- Gross operating margin -€13,715
down €13,715 (-12.4%), from €110,719 to €97,004
- Taxes -€3,536
down €3,536 (-31.6%), from €11,206 to €7,670
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 | €731,951 | €774,463 | +€42,512 | +5.8% |
| Fixed assets | 21/28 | €521,201 | €574,793 | +€53,592 | +10.3% |
| Tangible fixed assets | 22/27 | €521,201 | €574,793 | +€53,592 | +10.3% |
| Land and buildings | 22 | €500,889 | €547,252 | +€46,363 | +9.3% |
| Plant, machinery and equipment | 23 | €8,417 | €6,003 | -€2,413 | -28.7% |
| Furniture and vehicles | 24 | €11,896 | €21,538 | +€9,642 | +81.1% |
| Current assets | 29/58 | €210,750 | €199,670 | -€11,079 | -5.3% |
| Amounts receivable within one year | 40/41 | €719 | €960 | +€241 | +33.6% |
| Trade receivables | 40 | €362 | €209 | -€152 | -42.1% |
| Other amounts receivable | 41 | €357 | €751 | +€394 | +110% |
| Current investments | 50/53 | €62,681 | €27,681 | -€35,000 | -55.8% |
| Cash at bank and in hand | 54/58 | €147,350 | €169,560 | +€22,210 | +15.1% |
| Deferred charges and accrued income | 490/1 | €0 | €1,469 | +€1,469 | |
| Total equity and liabilities | 10/49 | €731,951 | €774,463 | +€42,512 | +5.8% |
| Equity | 10/15 | €155,412 | €163,186 | +€7,774 | +5.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €143,012 | €150,786 | +€7,774 | +5.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €40,700 | €40,700 | = | 0.0% |
| Distributable reserves | 133 | €102,312 | €110,085 | +€7,774 | +7.6% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €561,539 | €596,278 | +€34,739 | +6.2% |
| Amounts payable after more than one year | 17 | €327,046 | €326,995 | -€52 | 0.0% |
| Financial debts | 170/4 | €327,046 | €326,995 | -€52 | 0.0% |
| Amounts payable within one year | 42/48 | €212,630 | €246,526 | +€33,896 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €110,889 | €121,493 | +€10,604 | +9.6% |
| Trade debts | 44 | €20,025 | €47,177 | +€27,151 | +136% |
| Suppliers | 440/4 | €20,025 | €47,177 | +€27,151 | +136% |
| Taxes, remuneration and social security | 45 | €12,034 | €7,869 | -€4,165 | -34.6% |
| Taxes | 450/3 | €12,034 | €7,869 | -€4,165 | -34.6% |
| Other amounts payable | 47/48 | €69,682 | €69,988 | +€306 | +0.4% |
| Accrued charges and deferred income | 492/3 | €21,863 | €22,757 | +€894 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,981 | €63,570 | -€412 | -0.6% |
| Other operating charges | 640/8 | €6,995 | €7,676 | +€681 | +9.7% |
| Non-recurring operating charges | 66A | €3,991 | €0 | -€3,991 | -100% |
| Gross operating margin | 9900 | €110,719 | €97,004 | -€13,715 | -12.4% |
| Operating profit (loss) | 9901 | €35,752 | €25,758 | -€9,994 | -28.0% |
| Financial income | 75/76B | €1 | €316 | +€315 | +54,367% |
| Recurring financial income | 75 | €1 | €316 | +€315 | +54,367% |
| Financial charges | 65/66B | €9,595 | €10,630 | +€1,035 | +10.8% |
| Recurring financial charges | 65 | €9,595 | €10,630 | +€1,035 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €26,158 | €15,444 | -€10,714 | -41.0% |
| Income taxes | 67/77 | €11,206 | €7,670 | -€3,536 | -31.6% |
| Profit (loss) for the period | 9904 | €14,952 | €7,774 | -€7,178 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,952 | €7,774 | -€7,178 | -48.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.