JONATHAN HEIRBAUT: 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.
JONATHAN HEIRBAUT
Largest movements
- Receivables within one year -€25,241
down €25,241 (-59.5%), from €42,389 to €17,148
of which Trade receivables: -€27,576
- Tangible fixed assets -€1,385
down €1,385 (-88.3%), from €1,568 to €183
of which Furniture and vehicles: -€1,191
- Cash -€1,237
down €1,237 (-6.0%), from €20,478 to €19,241
mainly Contributions, distributions and other (-€31,079) and Tax, wage and social debts (-€22,407)
- Reserves -€34,679
down €34,679 (-100.0%), from €34,679 to €0
- Other debts +€29,321
up €29,321 (+1089.8%), from €2,690 to €32,012
- Tax, wage and social debts -€22,407
down €22,407 (-90.5%), from €24,753 to €2,346
- Gross operating margin -€47,375
down €47,375, from €46,128 to -€1,247
- Taxes -€8,557
down €8,557 (-98.1%), from €8,722 to €165
- Depreciation -€790
down €790 (-36.3%), from €2,175 to €1,385
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 | €66,048 | €38,286 | -€27,762 | -42.0% |
| Fixed assets | 21/28 | €1,568 | €183 | -€1,385 | -88.3% |
| Tangible fixed assets | 22/27 | €1,568 | €183 | -€1,385 | -88.3% |
| Plant, machinery and equipment | 23 | €193 | €0 | -€193 | -100.0% |
| Furniture and vehicles | 24 | €1,374 | €183 | -€1,191 | -86.7% |
| Current assets | 29/58 | €64,481 | €38,103 | -€26,378 | -40.9% |
| Amounts receivable within one year | 40/41 | €42,389 | €17,148 | -€25,241 | -59.5% |
| Trade receivables | 40 | €42,230 | €14,655 | -€27,576 | -65.3% |
| Other amounts receivable | 41 | €158 | €2,493 | +€2,335 | +1473.7% |
| Cash at bank and in hand | 54/58 | €20,478 | €19,241 | -€1,237 | -6.0% |
| Deferred charges and accrued income | 490/1 | €1,614 | €1,714 | +€99 | +6.2% |
| Total equity and liabilities | 10/49 | €66,048 | €38,286 | -€27,762 | -42.0% |
| Equity | 10/15 | €38,179 | €3,500 | -€34,679 | -90.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €34,679 | €0 | -€34,679 | -100.0% |
| Distributable reserves | 133 | €34,679 | €0 | -€34,679 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,870 | €34,786 | +€6,916 | +24.8% |
| Amounts payable within one year | 42/48 | €27,870 | €34,786 | +€6,916 | +24.8% |
| Trade debts | 44 | €427 | €429 | +€2 | +0.4% |
| Suppliers | 440/4 | €427 | €429 | +€2 | +0.4% |
| Taxes, remuneration and social security | 45 | €24,753 | €2,346 | -€22,407 | -90.5% |
| Taxes | 450/3 | €24,753 | €2,346 | -€22,407 | -90.5% |
| Other amounts payable | 47/48 | €2,690 | €32,012 | +€29,321 | +1089.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,175 | €1,385 | -€790 | -36.3% |
| Other operating charges | 640/8 | €528 | €689 | +€161 | +30.5% |
| Gross operating margin | 9900 | €46,128 | -€1,247 | -€47,375 | |
| Operating profit (loss) | 9901 | €43,425 | -€3,320 | -€46,746 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €114 | €114 | +€0 | +0.1% |
| Recurring financial charges | 65 | €114 | €114 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €43,314 | -€3,434 | -€46,748 | |
| Income taxes | 67/77 | €8,722 | €165 | -€8,557 | -98.1% |
| Profit (loss) for the period | 9904 | €34,592 | -€3,599 | -€38,191 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,592 | -€3,599 | -€38,191 |
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 8 October 2026 via checked.be.