JOHAN DECUYPERE: 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 DECUYPERE
Largest movements
- Receivables within one year +€191,403
up €191,403 (+64.2%), from €298,328 to €489,730
of which Trade receivables: +€173,900
- Stocks and contracts +€93,032
up €93,032 (+36.3%), from €256,394 to €349,426
- Cash -€60,377
down €60,377 (-63.3%), from €95,365 to €34,989
mainly Receivables within one year (-€191,403) and Contributions, distributions and other (-€146,532)
- Tangible fixed assets +€30,859
up €30,859 (+51.2%), from €60,296 to €91,155
of which Furniture and vehicles: +€30,456
- Short-term financial debts +€250,000
new in 2025: €250,000
- Profit (loss) carried forward -€115,444
down €115,444 (-100%), from €115,444 to €0
- Reserves +€98,555
up €98,555 (+24.0%), from €410,878 to €509,433
of which Distributable reserves: +€98,555
- Other debts +€89,049
up €89,049 (+155%), from €57,483 to €146,532
- Trade debts -€46,101
down €46,101 (-58.5%), from €78,747 to €32,646
- Gross operating margin -€71,356
down €71,356 (-19.4%), from €367,124 to €295,768
- Taxes -€26,154
down €26,154 (-35.9%), from €72,939 to €46,785
- Write-downs -€9,874
new in 2025: -€9,874
- Financial charges -€6,838
down €6,838 (-37.3%), from €18,322 to €11,484
- Depreciation +€4,315
up €4,315 (+44.1%), from €9,787 to €14,102
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 | €718,956 | €970,523 | +€251,567 | +35.0% |
| Fixed assets | 21/28 | €60,296 | €91,155 | +€30,859 | +51.2% |
| Tangible fixed assets | 22/27 | €60,296 | €91,155 | +€30,859 | +51.2% |
| Land and buildings | 22 | €31,222 | €25,596 | -€5,626 | -18.0% |
| Plant, machinery and equipment | 23 | €16,846 | €22,875 | +€6,029 | +35.8% |
| Furniture and vehicles | 24 | €12,228 | €42,684 | +€30,456 | +249% |
| Current assets | 29/58 | €658,660 | €879,368 | +€220,708 | +33.5% |
| Stocks and contracts in progress | 3 | €256,394 | €349,426 | +€93,032 | +36.3% |
| Stocks | 30/36 | €256,394 | €349,426 | +€93,032 | +36.3% |
| Amounts receivable within one year | 40/41 | €298,328 | €489,730 | +€191,403 | +64.2% |
| Trade receivables | 40 | €170,131 | €344,031 | +€173,900 | +102% |
| Other amounts receivable | 41 | €128,197 | €145,700 | +€17,503 | +13.7% |
| Cash at bank and in hand | 54/58 | €95,365 | €34,989 | -€60,377 | -63.3% |
| Deferred charges and accrued income | 490/1 | €8,573 | €5,223 | -€3,350 | -39.1% |
| Total equity and liabilities | 10/49 | €718,956 | €970,523 | +€251,567 | +35.0% |
| Equity | 10/15 | €545,322 | €528,433 | -€16,889 | -3.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €410,878 | €509,433 | +€98,555 | +24.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €410,878 | €509,433 | +€98,555 | +24.0% |
| Profit (loss) carried forward | 14 | €115,444 | €0 | -€115,444 | -100% |
| Amounts payable | 17/49 | €173,635 | €442,090 | +€268,456 | +155% |
| Amounts payable within one year | 42/48 | €173,635 | €442,090 | +€268,456 | +155% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €78,747 | €32,646 | -€46,101 | -58.5% |
| Suppliers | 440/4 | €78,747 | €32,646 | -€46,101 | -58.5% |
| Taxes, remuneration and social security | 45 | €37,405 | €12,913 | -€24,492 | -65.5% |
| Taxes | 450/3 | €28,157 | €1,813 | -€26,344 | -93.6% |
| Remuneration and social security | 454/9 | €9,248 | €11,100 | +€1,852 | +20.0% |
| Other amounts payable | 47/48 | €57,483 | €146,532 | +€89,049 | +155% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €8,926 | €0 | -€8,926 | -100% |
| Remuneration, social security and pensions | 62 | €96,570 | €100,542 | +€3,972 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,787 | €14,102 | +€4,315 | +44.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€9,874 | -€9,874 | |
| Other operating charges | 640/8 | €5,163 | €3,749 | -€1,414 | -27.4% |
| Gross operating margin | 9900 | €367,124 | €295,768 | -€71,356 | -19.4% |
| Operating profit (loss) | 9901 | €255,603 | €187,248 | -€68,355 | -26.7% |
| Financial income | 75/76B | €504 | €664 | +€160 | +31.7% |
| Recurring financial income | 75 | €504 | €664 | +€160 | +31.7% |
| Financial charges | 65/66B | €18,322 | €11,484 | -€6,838 | -37.3% |
| Recurring financial charges | 65 | €18,322 | €11,484 | -€6,838 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €237,786 | €176,428 | -€61,357 | -25.8% |
| Income taxes | 67/77 | €72,939 | €46,785 | -€26,154 | -35.9% |
| Profit (loss) for the period | 9904 | €164,846 | €129,643 | -€35,203 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €164,846 | €129,643 | -€35,203 | -21.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.