Johan Tuerlinckx: 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 Tuerlinckx"
Largest movements
- Tangible fixed assets +€27,360
up €27,360 (+11.4%), from €240,581 to €267,941
of which Furniture and vehicles: +€55,492
- Receivables within one year +€10,860
up €10,860 (+64.6%), from €16,811 to €27,671
of which Trade receivables: +€11,997
- Cash -€6,489
down €6,489 (-70.4%), from €9,213 to €2,724
mainly Debts after one year (-€100,099) and Investment in fixed assets (net) (-€54,190)
- Debts after one year -€100,099
down €100,099 (-50.8%), from €196,941 to €96,843
of which Other amounts payable: -€92,436
- Other debts +€93,513
new in 2025: €93,513
- Tax, wage and social debts +€18,554
up €18,554 (+232%), from €8,010 to €26,563
of which Remuneration and social security: +€12,196
- Reserves +€17,366
up €17,366 (+38.1%), from €45,520 to €62,885
- Gross operating margin -€19,291
down €19,291 (-26.6%), from €72,569 to €53,278
- Other operating charges -€6,847
down €6,847 (-88.8%), from €7,713 to €865
- Depreciation +€3,924
up €3,924 (+17.1%), from €22,906 to €26,829
- Taxes -€3,336
down €3,336 (-41.6%), from €8,010 to €4,674
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 | €267,176 | €298,626 | +€31,450 | +11.8% |
| Fixed assets | 21/28 | €240,581 | €267,941 | +€27,360 | +11.4% |
| Tangible fixed assets | 22/27 | €240,581 | €267,941 | +€27,360 | +11.4% |
| Land and buildings | 22 | €172,104 | €173,447 | +€1,343 | +0.8% |
| Plant, machinery and equipment | 23 | €50,883 | €28,419 | -€22,464 | -44.1% |
| Furniture and vehicles | 24 | €10,583 | €66,074 | +€55,492 | +524% |
| Other tangible fixed assets | 26 | €7,011 | - | -€7,011 | |
| Current assets | 29/58 | €26,595 | €30,685 | +€4,090 | +15.4% |
| Amounts receivable within one year | 40/41 | €16,811 | €27,671 | +€10,860 | +64.6% |
| Trade receivables | 40 | €14,224 | €26,221 | +€11,997 | +84.3% |
| Other amounts receivable | 41 | €2,587 | €1,450 | -€1,137 | -43.9% |
| Cash at bank and in hand | 54/58 | €9,213 | €2,724 | -€6,489 | -70.4% |
| Deferred charges and accrued income | 490/1 | €571 | €289 | -€282 | -49.3% |
| Total equity and liabilities | 10/49 | €267,176 | €298,626 | +€31,450 | +11.8% |
| Equity | 10/15 | €48,520 | €65,885 | +€17,366 | +35.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €45,520 | €62,885 | +€17,366 | +38.1% |
| Distributable reserves | 133 | €45,520 | €62,885 | +€17,366 | +38.1% |
| Amounts payable | 17/49 | €218,656 | €232,741 | +€14,084 | +6.4% |
| Amounts payable after more than one year | 17 | €196,941 | €96,843 | -€100,099 | -50.8% |
| Financial debts | 170/4 | €104,505 | €96,843 | -€7,662 | -7.3% |
| Other amounts payable | 178/9 | €92,436 | - | -€92,436 | |
| Amounts payable within one year | 42/48 | €21,695 | €135,454 | +€113,759 | +524% |
| Current portion of amounts payable after more than one year | 42 | €7,480 | €7,662 | +€182 | +2.4% |
| Trade debts | 44 | €6,206 | €7,456 | +€1,250 | +20.1% |
| Suppliers | 440/4 | €6,206 | €7,456 | +€1,250 | +20.1% |
| Advances received on contracts in progress | 46 | - | €260 | +€260 | |
| Taxes, remuneration and social security | 45 | €8,010 | €26,563 | +€18,554 | +232% |
| Taxes | 450/3 | €8,010 | €14,367 | +€6,358 | +79.4% |
| Remuneration and social security | 454/9 | - | €12,196 | +€12,196 | |
| Other amounts payable | 47/48 | - | €93,513 | +€93,513 | |
| Accrued charges and deferred income | 492/3 | €20 | €444 | +€424 | +2,120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,906 | €26,829 | +€3,924 | +17.1% |
| Other operating charges | 640/8 | €7,713 | €865 | -€6,847 | -88.8% |
| Gross operating margin | 9900 | €72,569 | €53,278 | -€19,291 | -26.6% |
| Operating profit (loss) | 9901 | €41,950 | €25,583 | -€16,367 | -39.0% |
| Financial income | 75/76B | €23 | €172 | +€149 | +662% |
| Recurring financial income | 75 | €23 | €172 | +€149 | +662% |
| Financial charges | 65/66B | €3,007 | €3,715 | +€708 | +23.5% |
| Recurring financial charges | 65 | €3,007 | €3,715 | +€708 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €38,965 | €22,039 | -€16,926 | -43.4% |
| Income taxes | 67/77 | €8,010 | €4,674 | -€3,336 | -41.6% |
| Profit (loss) for the period | 9904 | €30,956 | €17,366 | -€13,590 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,956 | €17,366 | -€13,590 | -43.9% |
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 1 November 2026 via checked.be.