Joris Deene: 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 Deene
Largest movements
- Cash +€20,242
up €20,242 (+14.8%), from €136,687 to €156,929
mainly Net result for the year (+€48,177) and Receivables within one year (+€18,242)
- Receivables within one year -€18,242
down €18,242 (-22.7%), from €80,461 to €62,220
of which Trade receivables: -€9,847
- Tangible fixed assets -€7,281
down €7,281 (-2.4%), from €308,559 to €301,279
of which Land and buildings: -€8,398
- Debts after one year -€18,730
down €18,730 (-39.5%), from €47,415 to €28,685
- Current portion of long-term debt +€9,404
new in 2025: €9,404
- Reserves +€7,000
up €7,000 (+1.6%), from €450,860 to €457,860
of which Distributable reserves: +€7,000
- Trade debts -€6,875
down €6,875 (-97.6%), from €7,047 to €172
- Gross operating margin -€24,896
down €24,896 (-23.9%), from €104,162 to €79,266
- Taxes -€6,566
down €6,566 (-26.0%), from €25,264 to €18,698
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 | €531,908 | €526,627 | -€5,281 | -1.0% |
| Fixed assets | 21/28 | €314,759 | €307,479 | -€7,281 | -2.3% |
| Tangible fixed assets | 22/27 | €308,559 | €301,279 | -€7,281 | -2.4% |
| Land and buildings | 22 | €307,081 | €298,683 | -€8,398 | -2.7% |
| Plant, machinery and equipment | 23 | €870 | €578 | -€291 | -33.5% |
| Furniture and vehicles | 24 | €609 | €2,018 | +€1,409 | +231.3% |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €217,148 | €219,148 | +€2,000 | +0.9% |
| Amounts receivable within one year | 40/41 | €80,461 | €62,220 | -€18,242 | -22.7% |
| Trade receivables | 40 | €72,067 | €62,220 | -€9,847 | -13.7% |
| Other amounts receivable | 41 | €8,395 | - | -€8,395 | |
| Cash at bank and in hand | 54/58 | €136,687 | €156,929 | +€20,242 | +14.8% |
| Total equity and liabilities | 10/49 | €531,908 | €526,627 | -€5,281 | -1.0% |
| Equity | 10/15 | €465,734 | €472,911 | +€7,177 | +1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €450,860 | €457,860 | +€7,000 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €449,000 | €456,000 | +€7,000 | +1.6% |
| Profit (loss) carried forward | 14 | €2,474 | €2,651 | +€177 | +7.2% |
| Amounts payable | 17/49 | €66,174 | €53,716 | -€12,458 | -18.8% |
| Amounts payable after more than one year | 17 | €47,415 | €28,685 | -€18,730 | -39.5% |
| Financial debts | 170/4 | €47,415 | €28,685 | -€18,730 | -39.5% |
| Amounts payable within one year | 42/48 | €18,759 | €25,031 | +€6,272 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,404 | +€9,404 | |
| Trade debts | 44 | €7,047 | €172 | -€6,875 | -97.6% |
| Suppliers | 440/4 | €7,047 | €172 | -€6,875 | -97.6% |
| Taxes, remuneration and social security | 45 | €11,713 | €14,786 | +€3,073 | +26.2% |
| Taxes | 450/3 | €11,713 | €14,786 | +€3,073 | +26.2% |
| Other amounts payable | 47/48 | - | €670 | +€670 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,587 | €10,612 | -€975 | -8.4% |
| Other operating charges | 640/8 | €1,388 | €1,679 | +€291 | +21.0% |
| Gross operating margin | 9900 | €104,162 | €79,266 | -€24,896 | -23.9% |
| Operating profit (loss) | 9901 | €91,187 | €66,975 | -€24,212 | -26.6% |
| Financial income | 75/76B | €703 | €841 | +€138 | +19.6% |
| Recurring financial income | 75 | €703 | €841 | +€138 | +19.6% |
| Financial charges | 65/66B | €1,150 | €941 | -€209 | -18.2% |
| Recurring financial charges | 65 | €1,150 | €941 | -€209 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €90,740 | €66,875 | -€23,865 | -26.3% |
| Income taxes | 67/77 | €25,264 | €18,698 | -€6,566 | -26.0% |
| Profit (loss) for the period | 9904 | €65,477 | €48,177 | -€17,299 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,477 | €48,177 | -€17,299 | -26.4% |
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 10 October 2026 via checked.be.