JOHAN REYNDERS: what changed
Two fiscal 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 REYNDERS
Largest movements
- Cash +€24,444
up €24,444 (+4.0%), from €608,279 to €632,723
mainly Net result for the year (+€133,230) and Depreciation (+€20,453)
- Reserves +€133,230
up €133,230 (+25.3%), from €526,610 to €659,840
of which Distributable reserves: +€133,230
- Other debts -€113,071
down €113,071 (-91.5%), from €123,638 to €10,567
- Gross operating margin +€17,554
up €17,554 (+9.8%), from €178,952 to €196,506
- Financial income +€15,772
up €15,772 (+3942885.0%), from €0 to €15,772
- Depreciation +€10,608
up €10,608 (+107.8%), from €9,845 to €20,453
- Taxes +€7,249
up €7,249 (+15.0%), from €48,258 to €55,507
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.
Cash bridge derived
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 | €720,519 | €741,245 | +€20,726 | +2.9% |
| Fixed assets | 21/28 | €111,128 | €107,402 | -€3,725 | -3.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €111,128 | €107,402 | -€3,725 | -3.4% |
| Land and buildings | 22 | €107,620 | €90,436 | -€17,184 | -16.0% |
| Plant, machinery and equipment | 23 | €3,485 | €10,642 | +€7,157 | +205.3% |
| Furniture and vehicles | 24 | €22 | €6,325 | +€6,302 | +28287.1% |
| Current assets | 29/58 | €609,391 | €633,843 | +€24,451 | +4.0% |
| Cash at bank and in hand | 54/58 | €608,279 | €632,723 | +€24,444 | +4.0% |
| Deferred charges and accrued income | 490/1 | €1,113 | €1,120 | +€7 | +0.6% |
| Total equity and liabilities | 10/49 | €720,519 | €741,245 | +€20,726 | +2.9% |
| Equity | 10/15 | €588,610 | €721,840 | +€133,230 | +22.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €526,610 | €659,840 | +€133,230 | +25.3% |
| Tax-exempt reserves | 132 | €1,618 | €1,618 | = | 0.0% |
| Distributable reserves | 133 | €524,992 | €658,222 | +€133,230 | +25.4% |
| Amounts payable | 17/49 | €131,909 | €19,405 | -€112,504 | -85.3% |
| Amounts payable within one year | 42/48 | €131,909 | €19,405 | -€112,504 | -85.3% |
| Trade debts | 44 | €2,013 | €60 | -€1,953 | -97.0% |
| Suppliers | 440/4 | €2,013 | €60 | -€1,953 | -97.0% |
| Taxes, remuneration and social security | 45 | €6,258 | €8,778 | +€2,520 | +40.3% |
| Taxes | 450/3 | €6,258 | €8,778 | +€2,520 | +40.3% |
| Other amounts payable | 47/48 | €123,638 | €10,567 | -€113,071 | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,845 | €20,453 | +€10,608 | +107.8% |
| Other operating charges | 640/8 | €2,883 | €2,797 | -€86 | -3.0% |
| Gross operating margin | 9900 | €178,952 | €196,506 | +€17,554 | +9.8% |
| Operating profit (loss) | 9901 | €166,224 | €173,256 | +€7,032 | +4.2% |
| Financial income | 75/76B | €0 | €15,772 | +€15,772 | +3942885.0% |
| Recurring financial income | 75 | €0 | €15,772 | +€15,772 | +3942885.0% |
| Financial charges | 65/66B | €271 | €291 | +€20 | +7.3% |
| Recurring financial charges | 65 | €271 | €291 | +€20 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €165,954 | €188,737 | +€22,783 | +13.7% |
| Income taxes | 67/77 | €48,258 | €55,507 | +€7,249 | +15.0% |
| Profit (loss) for the period | 9904 | €117,696 | €133,230 | +€15,534 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €117,696 | €133,230 | +€15,534 | +13.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.