Jonathan van den Berg: 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.
Jonathan van den Berg
Largest movements
- Current investments +€272,956
up €272,956 (+50.1%), from €544,663 to €817,618
- Cash -€234,639
down €234,639 (-83.4%), from €281,496 to €46,857
mainly Current investments (-€272,956) and Contributions, distributions and other (-€209,889)
- Receivables within one year +€17,328
up €17,328 (+102%), from €16,938 to €34,265
of which Other amounts receivable: +€11,485
- Reserves +€30,260
up €30,260 (+3.1%), from €990,973 to €1.0m
- Tax, wage and social debts +€23,351
up €23,351 (+52.3%), from €44,651 to €68,002
of which Taxes: +€23,351
- Trade debts +€16,398
up €16,398 (+1,044%), from €1,571 to €17,969
- Financial charges +€62,269
up €62,269 (+2,395%), from €2,600 to €64,868
- Gross operating margin +€27,113
up €27,113 (+7.2%), from €375,780 to €402,894
- Taxes -€14,357
down €14,357 (-11.9%), from €120,292 to €105,935
- Write-downs +€7,251
up €7,251 (+90.9%), from €7,974 to €15,225
- Financial income +€4,639
up €4,639 (+21.3%), from €21,821 to €26,460
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 | €1,148,351 | €1,201,460 | +€53,109 | +4.6% |
| Fixed assets | 21/28 | €304,215 | €294,838 | -€9,377 | -3.1% |
| Tangible fixed assets | 22/27 | €304,215 | €294,838 | -€9,377 | -3.1% |
| Furniture and vehicles | 24 | €8,369 | €3,891 | -€4,477 | -53.5% |
| Leasing and similar rights | 25 | €92,620 | €84,020 | -€8,600 | -9.3% |
| Other tangible fixed assets | 26 | €203,226 | €206,926 | +€3,700 | +1.8% |
| Current assets | 29/58 | €844,136 | €906,622 | +€62,486 | +7.4% |
| Amounts receivable within one year | 40/41 | €16,938 | €34,265 | +€17,328 | +102% |
| Trade receivables | 40 | €7,058 | €12,901 | +€5,843 | +82.8% |
| Other amounts receivable | 41 | €9,879 | €21,364 | +€11,485 | +116% |
| Current investments | 50/53 | €544,663 | €817,618 | +€272,956 | +50.1% |
| Cash at bank and in hand | 54/58 | €281,496 | €46,857 | -€234,639 | -83.4% |
| Deferred charges and accrued income | 490/1 | €1,039 | €7,881 | +€6,842 | +658% |
| Total equity and liabilities | 10/49 | €1,148,351 | €1,201,460 | +€53,109 | +4.6% |
| Equity | 10/15 | €1,012,909 | €1,034,025 | +€21,117 | +2.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Revaluation surpluses | 12 | €13,876 | €4,733 | -€9,143 | -65.9% |
| Reserves | 13 | €990,973 | €1,021,232 | +€30,260 | +3.1% |
| Distributable reserves | 133 | €990,973 | €1,021,232 | +€30,260 | +3.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €135,442 | €167,434 | +€31,992 | +23.6% |
| Amounts payable after more than one year | 17 | €79,892 | €73,899 | -€5,993 | -7.5% |
| Financial debts | 170/4 | €79,892 | €73,899 | -€5,993 | -7.5% |
| Amounts payable within one year | 42/48 | €52,626 | €92,485 | +€39,860 | +75.7% |
| Current portion of amounts payable after more than one year | 42 | €5,882 | €5,993 | +€111 | +1.9% |
| Trade debts | 44 | €1,571 | €17,969 | +€16,398 | +1,044% |
| Suppliers | 440/4 | €1,571 | €17,969 | +€16,398 | +1,044% |
| Taxes, remuneration and social security | 45 | €44,651 | €68,002 | +€23,351 | +52.3% |
| Taxes | 450/3 | €44,651 | €68,002 | +€23,351 | +52.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €521 | €521 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,924 | €1,050 | -€1,874 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,802 | €8,803 | -€2,999 | -25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,974 | €15,225 | +€7,251 | +90.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,999 | €3,517 | +€1,518 | +76.0% |
| Gross operating margin | 9900 | €375,780 | €402,894 | +€27,113 | +7.2% |
| Operating profit (loss) | 9901 | €354,006 | €375,349 | +€21,343 | +6.0% |
| Financial income | 75/76B | €21,821 | €26,460 | +€4,639 | +21.3% |
| Recurring financial income | 75 | €21,821 | €26,460 | +€4,639 | +21.3% |
| Financial charges | 65/66B | €2,600 | €64,868 | +€62,269 | +2,395% |
| Recurring financial charges | 65 | €2,600 | €64,868 | +€62,269 | +2,395% |
| Profit (loss) for the period before taxes | 9903 | €373,227 | €336,941 | -€36,286 | -9.7% |
| Income taxes | 67/77 | €120,292 | €105,935 | -€14,357 | -11.9% |
| Profit (loss) for the period | 9904 | €252,936 | €231,006 | -€21,930 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €252,936 | €231,006 | -€21,930 | -8.7% |
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 24 October 2026 via checked.be.