Joost Van den Eede: 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.
Joost Van den Eede
Largest movements
- Cash +€45,398
up €45,398 (+85.2%), from €53,293 to €98,691
mainly Net result for the year (+€38,951) and Depreciation (+€22,045)
- Tangible fixed assets -€22,045
down €22,045 (-29.6%), from €74,459 to €52,414
of which Furniture and vehicles: -€18,481
- Receivables within one year +€19,276
up €19,276 (+49.4%), from €38,990 to €58,266
of which Other amounts receivable: +€43,349
- Reserves +€38,951
up €38,951 (+41.4%), from €94,066 to €133,017
- Trade debts +€20,032
up €20,032 (+894%), from €2,240 to €22,273
- Debts after one year -€11,195
down €11,195 (-37.3%), from €30,046 to €18,851
- Tax, wage and social debts -€5,349
down €5,349 (-18.4%), from €29,047 to €23,698
- Gross operating margin -€20,102
down €20,102 (-18.3%), from €109,794 to €89,692
- Taxes -€2,262
down €2,262 (-13.9%), from €16,315 to €14,053
- Depreciation -€1,731
down €1,731 (-7.3%), from €23,776 to €22,045
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 | €169,407 | €211,533 | +€42,126 | +24.9% |
| Fixed assets | 21/28 | €74,959 | €52,614 | -€22,345 | -29.8% |
| Tangible fixed assets | 22/27 | €74,459 | €52,414 | -€22,045 | -29.6% |
| Land and buildings | 22 | €1,069 | €934 | -€134 | -12.6% |
| Plant, machinery and equipment | 23 | €9,607 | €6,380 | -€3,227 | -33.6% |
| Furniture and vehicles | 24 | €61,979 | €43,498 | -€18,481 | -29.8% |
| Other tangible fixed assets | 26 | €1,804 | €1,601 | -€202 | -11.2% |
| Financial fixed assets | 28 | €500 | €200 | -€300 | -60.0% |
| Current assets | 29/58 | €94,448 | €158,919 | +€64,471 | +68.3% |
| Amounts receivable within one year | 40/41 | €38,990 | €58,266 | +€19,276 | +49.4% |
| Trade receivables | 40 | €35,963 | €11,890 | -€24,073 | -66.9% |
| Other amounts receivable | 41 | €3,026 | €46,375 | +€43,349 | +1,432% |
| Cash at bank and in hand | 54/58 | €53,293 | €98,691 | +€45,398 | +85.2% |
| Deferred charges and accrued income | 490/1 | €2,166 | €1,963 | -€203 | -9.4% |
| Total equity and liabilities | 10/49 | €169,407 | €211,533 | +€42,126 | +24.9% |
| Equity | 10/15 | €96,566 | €135,517 | +€38,951 | +40.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €94,066 | €133,017 | +€38,951 | +41.4% |
| Distributable reserves | 133 | €94,066 | €133,017 | +€38,951 | +41.4% |
| Amounts payable | 17/49 | €72,841 | €76,016 | +€3,174 | +4.4% |
| Amounts payable after more than one year | 17 | €30,046 | €18,851 | -€11,195 | -37.3% |
| Financial debts | 170/4 | €30,046 | €18,851 | -€11,195 | -37.3% |
| Amounts payable within one year | 42/48 | €42,796 | €57,165 | +€14,369 | +33.6% |
| Financial debts | 43 | €10,675 | €11,194 | +€519 | +4.9% |
| Credit institutions | 430/8 | €10,675 | €11,194 | +€519 | +4.9% |
| Trade debts | 44 | €2,240 | €22,273 | +€20,032 | +894% |
| Suppliers | 440/4 | €2,240 | €22,273 | +€20,032 | +894% |
| Taxes, remuneration and social security | 45 | €29,047 | €23,698 | -€5,349 | -18.4% |
| Taxes | 450/3 | €29,047 | €23,698 | -€5,349 | -18.4% |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Non-recurring operating income | 76A | - | €4,650 | +€4,650 | |
| Remuneration, social security and pensions | 62 | €11,350 | €12,174 | +€824 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,776 | €22,045 | -€1,731 | -7.3% |
| Other operating charges | 640/8 | €1,009 | €516 | -€493 | -48.8% |
| Gross operating margin | 9900 | €109,794 | €89,692 | -€20,102 | -18.3% |
| Operating profit (loss) | 9901 | €73,659 | €54,957 | -€18,703 | -25.4% |
| Financial income | 75/76B | €112 | €0 | -€112 | -99.8% |
| Recurring financial income | 75 | €112 | €0 | -€112 | -99.8% |
| Financial charges | 65/66B | €2,449 | €1,953 | -€497 | -20.3% |
| Recurring financial charges | 65 | €2,449 | €1,953 | -€497 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €71,322 | €53,004 | -€18,317 | -25.7% |
| Income taxes | 67/77 | €16,315 | €14,053 | -€2,262 | -13.9% |
| Profit (loss) for the period | 9904 | €55,007 | €38,951 | -€16,056 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,007 | €38,951 | -€16,056 | -29.2% |
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.