JULIEN DELEUZE: 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.
JULIEN DELEUZE
Largest movements
- Receivables within one year +€21,889
up €21,889 (+104%), from €20,969 to €42,858
of which Other amounts receivable: +€10,949
- Cash -€13,972
down €13,972 (-85.1%), from €16,416 to €2,444
mainly Receivables within one year (-€21,889) and Deferred charges and accrued income (-€31)
- Reserves +€5,421
up €5,421 (+18.6%), from €29,120 to €34,541
- Tax, wage and social debts +€1,107
up €1,107 (+17.1%), from €6,464 to €7,571
- Trade debts +€913
up €913 (+121%), from €756 to €1,670
- Accrued charges and deferred income +€507
up €507 (+1,151%), from €44 to €551
- Gross operating margin -€35,344
down €35,344 (-74.2%), from €47,647 to €12,302
- Taxes -€8,256
down €8,256 (-66.6%), from €12,389 to €4,133
- Other operating charges -€2,875
down €2,875 (-74.6%), from €3,854 to €978
- Financial charges -€521
down €521 (-16.6%), from €3,131 to €2,610
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 | €37,385 | €45,333 | +€7,948 | +21.3% |
| Current assets | 29/58 | €37,385 | €45,333 | +€7,948 | +21.3% |
| Amounts receivable within one year | 40/41 | €20,969 | €42,858 | +€21,889 | +104% |
| Trade receivables | 40 | €9,055 | €19,995 | +€10,940 | +121% |
| Other amounts receivable | 41 | €11,914 | €22,863 | +€10,949 | +91.9% |
| Cash at bank and in hand | 54/58 | €16,416 | €2,444 | -€13,972 | -85.1% |
| Deferred charges and accrued income | 490/1 | - | €31 | +€31 | |
| Total equity and liabilities | 10/49 | €37,385 | €45,333 | +€7,948 | +21.3% |
| Equity | 10/15 | €30,120 | €35,541 | +€5,421 | +18.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €29,120 | €34,541 | +€5,421 | +18.6% |
| Distributable reserves | 133 | €29,120 | €34,541 | +€5,421 | +18.6% |
| Amounts payable | 17/49 | €7,265 | €9,792 | +€2,527 | +34.8% |
| Amounts payable within one year | 42/48 | €7,221 | €9,241 | +€2,021 | +28.0% |
| Trade debts | 44 | €756 | €1,670 | +€913 | +121% |
| Suppliers | 440/4 | €756 | €1,670 | +€913 | +121% |
| Taxes, remuneration and social security | 45 | €6,464 | €7,571 | +€1,107 | +17.1% |
| Taxes | 450/3 | €6,464 | €7,571 | +€1,107 | +17.1% |
| Accrued charges and deferred income | 492/3 | €44 | €551 | +€507 | +1,151% |
| Other operating charges | 640/8 | €3,854 | €978 | -€2,875 | -74.6% |
| Gross operating margin | 9900 | €47,647 | €12,302 | -€35,344 | -74.2% |
| Operating profit (loss) | 9901 | €43,793 | €11,324 | -€32,469 | -74.1% |
| Financial income | 75/76B | €847 | €840 | -€7 | -0.9% |
| Recurring financial income | 75 | €847 | €840 | -€7 | -0.9% |
| Financial charges | 65/66B | €3,131 | €2,610 | -€521 | -16.6% |
| Recurring financial charges | 65 | €3,131 | €2,610 | -€521 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €41,509 | €9,554 | -€31,956 | -77.0% |
| Income taxes | 67/77 | €12,389 | €4,133 | -€8,256 | -66.6% |
| Profit (loss) for the period | 9904 | €29,120 | €5,421 | -€23,700 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,120 | €5,421 | -€23,700 | -81.4% |
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 29 October 2026 via checked.be.