JORIS ANNAERT: 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.
JORIS ANNAERT
Largest movements
- Cash +€92,477
up €92,477 (+35.3%), from €261,970 to €354,447
mainly Deferred charges and accrued income (+€63,072) and Trade debts (+€37,254)
- Deferred charges and accrued income -€63,072
down €63,072 (-97.4%), from €64,732 to €1,660
- Tangible fixed assets -€30,773
down €30,773 (-8.8%), from €348,196 to €317,423
- Receivables within one year +€17,127
up €17,127 (+1285.3%), from €1,333 to €18,460
- Trade debts +€37,254
up €37,254 (+114.4%), from €32,569 to €69,823
- Tax, wage and social debts -€29,099
down €29,099 (-40.0%), from €72,697 to €43,599
of which Taxes: -€26,555
- Debts after one year -€14,515
down €14,515 (-5.3%), from €273,409 to €258,894
- Accrued charges and deferred income +€13,000
up €13,000 (+76.5%), from €17,000 to €30,000
- Gross operating margin -€39,429
down €39,429 (-22.5%), from €174,863 to €135,434
- Taxes -€14,398
down €14,398 (-65.7%), from €21,928 to €7,530
- Staff costs +€11,829
up €11,829 (+19.1%), from €61,822 to €73,651
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 | €702,046 | €712,402 | +€10,356 | +1.5% |
| Fixed assets | 21/28 | €348,196 | €317,423 | -€30,773 | -8.8% |
| Tangible fixed assets | 22/27 | €348,196 | €317,423 | -€30,773 | -8.8% |
| Land and buildings | 22 | €299,543 | €284,829 | -€14,714 | -4.9% |
| Plant, machinery and equipment | 23 | €37,973 | €27,743 | -€10,230 | -26.9% |
| Furniture and vehicles | 24 | €10,679 | €4,851 | -€5,829 | -54.6% |
| Current assets | 29/58 | €353,850 | €394,979 | +€41,128 | +11.6% |
| Stocks and contracts in progress | 3 | €25,816 | €20,413 | -€5,404 | -20.9% |
| Stocks | 30/36 | €25,816 | €20,413 | -€5,404 | -20.9% |
| Amounts receivable within one year | 40/41 | €1,333 | €18,460 | +€17,127 | +1285.3% |
| Trade receivables | 40 | €1,333 | €18,460 | +€17,127 | +1285.3% |
| Cash at bank and in hand | 54/58 | €261,970 | €354,447 | +€92,477 | +35.3% |
| Deferred charges and accrued income | 490/1 | €64,732 | €1,660 | -€63,072 | -97.4% |
| Total equity and liabilities | 10/49 | €702,046 | €712,402 | +€10,356 | +1.5% |
| Equity | 10/15 | €283,990 | €287,933 | +€3,943 | +1.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €271,590 | €275,533 | +€3,943 | +1.5% |
| Distributable reserves | 133 | €271,590 | €275,533 | +€3,943 | +1.5% |
| Amounts payable | 17/49 | €418,056 | €424,469 | +€6,413 | +1.5% |
| Amounts payable after more than one year | 17 | €273,409 | €258,894 | -€14,515 | -5.3% |
| Financial debts | 170/4 | €273,409 | €258,894 | -€14,515 | -5.3% |
| Amounts payable within one year | 42/48 | €127,647 | €135,574 | +€7,927 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €19,819 | €14,944 | -€4,875 | -24.6% |
| Trade debts | 44 | €32,569 | €69,823 | +€37,254 | +114.4% |
| Suppliers | 440/4 | €32,569 | €69,823 | +€37,254 | +114.4% |
| Taxes, remuneration and social security | 45 | €72,697 | €43,599 | -€29,099 | -40.0% |
| Taxes | 450/3 | €68,130 | €41,575 | -€26,555 | -39.0% |
| Remuneration and social security | 454/9 | €4,567 | €2,024 | -€2,543 | -55.7% |
| Other amounts payable | 47/48 | €2,562 | €7,208 | +€4,647 | +181.4% |
| Accrued charges and deferred income | 492/3 | €17,000 | €30,000 | +€13,000 | +76.5% |
| Remuneration, social security and pensions | 62 | €61,822 | €73,651 | +€11,829 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,633 | €31,102 | -€531 | -1.7% |
| Other operating charges | 640/8 | €1,751 | €1,887 | +€136 | +7.8% |
| Gross operating margin | 9900 | €174,863 | €135,434 | -€39,429 | -22.5% |
| Operating profit (loss) | 9901 | €79,656 | €28,794 | -€50,863 | -63.9% |
| Financial income | 75/76B | €157 | - | -€157 | |
| Recurring financial income | 75 | €157 | - | -€157 | |
| Financial charges | 65/66B | €4,415 | €5,323 | +€908 | +20.6% |
| Recurring financial charges | 65 | €4,415 | €5,323 | +€908 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €75,398 | €23,471 | -€51,927 | -68.9% |
| Income taxes | 67/77 | €21,928 | €7,530 | -€14,398 | -65.7% |
| Profit (loss) for the period | 9904 | €53,470 | €15,941 | -€37,529 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €53,470 | €15,941 | -€37,529 | -70.2% |
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 12 October 2026 via checked.be.