JOHN BLONDEEL: 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.
What changed
JOHN BLONDEEL
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,688
2024 · -€6,407+€8,095
Equity
€229,417
2024 · €229,396+€22
Cash
€2,973
2024 · €6,436-€3,464
Balance sheet total
€388,553
2024 · €401,215-€12,663
Largest movements
Assets
- Tangible fixed assets -€16,550
down €16,550 (-5.1%), from €325,156 to €308,607
of which Land and buildings: -€12,979
- Current investments +€4,404
up €4,404 (+7.3%), from €60,661 to €65,065
Equity and liabilities
- Debts after one year -€17,771
down €17,771 (-12.6%), from €140,767 to €122,996
Income statement
- Depreciation -€6,515
down €6,515 (-28.2%), from €23,065 to €16,550
- Gross operating margin +€2,472
up €2,472 (+9.1%), from €27,076 to €29,548
- Other operating charges +€815
up €815 (+18.0%), from €4,530 to €5,345
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.
Result 2024
-€6,407
Gross operating margin
+€2,472
Depreciation
+€6,515
Other operating charges
-€815
Financial income
+€159
Financial charges
-€227
Taxes
+€2
Deferred taxes and other
-€11
Result 2025
€1,688
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€19,909
Investment
-€4,404
Financing
-€18,968
Cash 2024
€6,436
From operations (derived)
+€19,909
Net result for the year
+€1,688
Depreciation
+€16,550
Stocks and contracts
+€1,204
Receivables within one year
-€2,407
Deferred charges and accrued income
-€1,743
Trade debts
+€309
Tax, wage and social debts
+€2,389
Other debts
+€1,394
Accrued charges and deferred income
+€525
Investment (derived)
-€4,404
Current investments
-€4,404
Financing
-€18,968
Debts after one year
-€17,771
Current portion of long-term debt
+€469
Contributions, distributions and other
-€1,666
Cash 2025
€2,973
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €401,215 | €388,553 | -€12,663 | -3.2% |
| Fixed assets | 21/28 | €325,156 | €308,607 | -€16,550 | -5.1% |
| Tangible fixed assets | 22/27 | €325,156 | €308,607 | -€16,550 | -5.1% |
| Land and buildings | 22 | €312,426 | €299,447 | -€12,979 | -4.2% |
| Furniture and vehicles | 24 | €12,730 | €9,160 | -€3,570 | -28.0% |
| Current assets | 29/58 | €76,059 | €79,946 | +€3,887 | +5.1% |
| Stocks and contracts in progress | 3 | €1,954 | €750 | -€1,204 | -61.6% |
| Stocks | 30/36 | €1,954 | €750 | -€1,204 | -61.6% |
| Amounts receivable within one year | 40/41 | €6,681 | €9,089 | +€2,407 | +36.0% |
| Trade receivables | 40 | €5,292 | €7,869 | +€2,577 | +48.7% |
| Other amounts receivable | 41 | €1,389 | €1,220 | -€170 | -12.2% |
| Current investments | 50/53 | €60,661 | €65,065 | +€4,404 | +7.3% |
| Cash at bank and in hand | 54/58 | €6,436 | €2,973 | -€3,464 | -53.8% |
| Deferred charges and accrued income | 490/1 | €326 | €2,069 | +€1,743 | +535% |
| Total equity and liabilities | 10/49 | €401,215 | €388,553 | -€12,663 | -3.2% |
| Equity | 10/15 | €229,396 | €229,417 | +€22 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €210,796 | €210,817 | +€22 | 0.0% |
| Distributable reserves | 133 | €210,796 | €210,817 | +€22 | 0.0% |
| Amounts payable | 17/49 | €171,820 | €159,135 | -€12,684 | -7.4% |
| Amounts payable after more than one year | 17 | €140,767 | €122,996 | -€17,771 | -12.6% |
| Financial debts | 170/4 | €140,767 | €122,996 | -€17,771 | -12.6% |
| Amounts payable within one year | 42/48 | €30,424 | €34,986 | +€4,561 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €17,302 | €17,771 | +€469 | +2.7% |
| Trade debts | 44 | €2,295 | €2,604 | +€309 | +13.5% |
| Suppliers | 440/4 | €2,295 | €2,604 | +€309 | +13.5% |
| Taxes, remuneration and social security | 45 | €72 | €2,462 | +€2,389 | +3,298% |
| Taxes | 450/3 | - | €2,389 | +€2,389 | |
| Remuneration and social security | 454/9 | €72 | €72 | = | 0.0% |
| Other amounts payable | 47/48 | €10,755 | €12,149 | +€1,394 | +13.0% |
| Accrued charges and deferred income | 492/3 | €628 | €1,154 | +€525 | +83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,065 | €16,550 | -€6,515 | -28.2% |
| Other operating charges | 640/8 | €4,530 | €5,345 | +€815 | +18.0% |
| Gross operating margin | 9900 | €27,076 | €29,548 | +€2,472 | +9.1% |
| Operating profit (loss) | 9901 | -€519 | €7,653 | +€8,172 | |
| Financial income | 75/76B | €850 | €1,009 | +€159 | +18.8% |
| Recurring financial income | 75 | €850 | €1,009 | +€159 | +18.8% |
| Financial charges | 65/66B | €6,595 | €6,822 | +€227 | +3.4% |
| Recurring financial charges | 65 | €6,595 | €6,822 | +€227 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,264 | €1,840 | +€8,104 | |
| Transfer from deferred taxes | 780 | €11 | - | -€11 | |
| Income taxes | 67/77 | €155 | €152 | -€2 | -1.5% |
| Profit (loss) for the period | 9904 | -€6,407 | €1,688 | +€8,095 | |
| Transfer from tax-exempt reserves | 789 | €22 | - | -€22 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,385 | €1,688 | +€8,073 |
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 19 October 2026 via checked.be.