Joris Bart Troubleyn: 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 Bart Troubleyn
Largest movements
- Cash +€48,857
up €48,857 (+36.7%), from €133,279 to €182,136
mainly Net result for the year (+€171,790) and Other debts (+€18,715)
- Tangible fixed assets -€13,569
down €13,569 (-24.3%), from €55,854 to €42,285
- Deferred charges and accrued income -€13,432
down €13,432 (-47.2%), from €28,468 to €15,036
- Other debts +€18,715
up €18,715 (+12.2%), from €153,594 to €172,309
- Gross operating margin +€24,875
up €24,875 (+11.6%), from €213,554 to €238,429
- Taxes +€6,088
up €6,088 (+13.4%), from €45,514 to €51,602
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 | €227,459 | €248,943 | +€21,484 | +9.4% |
| Fixed assets | 21/28 | €55,854 | €42,285 | -€13,569 | -24.3% |
| Tangible fixed assets | 22/27 | €55,854 | €42,285 | -€13,569 | -24.3% |
| Furniture and vehicles | 24 | €55,854 | €42,285 | -€13,569 | -24.3% |
| Current assets | 29/58 | €171,605 | €206,658 | +€35,053 | +20.4% |
| Amounts receivable within one year | 40/41 | €9,858 | €9,486 | -€372 | -3.8% |
| Other amounts receivable | 41 | €9,858 | €9,486 | -€372 | -3.8% |
| Cash at bank and in hand | 54/58 | €133,279 | €182,136 | +€48,857 | +36.7% |
| Deferred charges and accrued income | 490/1 | €28,468 | €15,036 | -€13,432 | -47.2% |
| Total equity and liabilities | 10/49 | €227,459 | €248,943 | +€21,484 | +9.4% |
| Equity | 10/15 | €66,976 | €66,976 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €61,976 | €61,976 | = | 0.0% |
| Distributable reserves | 133 | €61,976 | €61,976 | = | 0.0% |
| Amounts payable | 17/49 | €160,483 | €181,967 | +€21,484 | +13.4% |
| Amounts payable within one year | 42/48 | €160,483 | €181,967 | +€21,484 | +13.4% |
| Trade debts | 44 | €1,535 | €3,134 | +€1,599 | +104% |
| Suppliers | 440/4 | €1,535 | €3,134 | +€1,599 | +104% |
| Taxes, remuneration and social security | 45 | €5,354 | €6,524 | +€1,170 | +21.9% |
| Taxes | 450/3 | €5,354 | €6,524 | +€1,170 | +21.9% |
| Other amounts payable | 47/48 | €153,594 | €172,309 | +€18,715 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,159 | €14,468 | +€309 | +2.2% |
| Other operating charges | 640/8 | €505 | €520 | +€15 | +3.0% |
| Gross operating margin | 9900 | €213,554 | €238,429 | +€24,875 | +11.6% |
| Operating profit (loss) | 9901 | €198,890 | €223,441 | +€24,551 | +12.3% |
| Financial charges | 65/66B | €44 | €49 | +€5 | +11.4% |
| Recurring financial charges | 65 | €44 | €49 | +€5 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €198,846 | €223,392 | +€24,546 | +12.3% |
| Income taxes | 67/77 | €45,514 | €51,602 | +€6,088 | +13.4% |
| Profit (loss) for the period | 9904 | €153,332 | €171,790 | +€18,458 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €153,332 | €171,790 | +€18,458 | +12.0% |
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 16 October 2026 via checked.be.