Jurgen Bevers: 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.
Jurgen Bevers
Largest movements
- Receivables within one year -€58,683
down €58,683 (-19.4%), from €301,953 to €243,269
of which Trade receivables: -€39,459
- Tangible fixed assets -€38,886
down €38,886 (-1.7%), from €2.4m to €2.3m
of which Land and buildings: -€38,083
- Cash +€38,044
up €38,044 (+415%), from €9,176 to €47,220
mainly Depreciation (+€141,994) and Debts after one year (+€103,925)
- Other debts -€118,218
down €118,218 (-78.8%), from €150,106 to €31,888
- Debts after one year +€103,925
up €103,925 (+7.2%), from €1.4m to €1.5m
- Reserves -€51,660
down €51,660 (-5.5%), from €935,844 to €884,184
- Gross operating margin -€69,998
down €69,998 (-27.8%), from €251,475 to €181,476
- Taxes -€29,841
down €29,841 (-97.0%), from €30,762 to €921
- Depreciation +€17,668
up €17,668 (+14.2%), from €124,326 to €141,994
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 | €2,700,939 | €2,624,531 | -€76,408 | -2.8% |
| Fixed assets | 21/28 | €2,350,494 | €2,311,608 | -€38,886 | -1.7% |
| Tangible fixed assets | 22/27 | €2,350,494 | €2,311,608 | -€38,886 | -1.7% |
| Land and buildings | 22 | €2,348,975 | €2,310,892 | -€38,083 | -1.6% |
| Plant, machinery and equipment | 23 | €1,519 | €716 | -€803 | -52.9% |
| Current assets | 29/58 | €350,445 | €312,923 | -€37,522 | -10.7% |
| Amounts receivable within one year | 40/41 | €301,953 | €243,269 | -€58,683 | -19.4% |
| Trade receivables | 40 | €178,174 | €138,714 | -€39,459 | -22.1% |
| Other amounts receivable | 41 | €123,779 | €104,555 | -€19,224 | -15.5% |
| Cash at bank and in hand | 54/58 | €9,176 | €47,220 | +€38,044 | +415% |
| Deferred charges and accrued income | 490/1 | €39,316 | €22,433 | -€16,883 | -42.9% |
| Total equity and liabilities | 10/49 | €2,700,939 | €2,624,531 | -€76,408 | -2.8% |
| Equity | 10/15 | €942,044 | €890,384 | -€51,660 | -5.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €935,844 | €884,184 | -€51,660 | -5.5% |
| Distributable reserves | 133 | €935,844 | €884,184 | -€51,660 | -5.5% |
| Amounts payable | 17/49 | €1,758,895 | €1,734,147 | -€24,748 | -1.4% |
| Amounts payable after more than one year | 17 | €1,433,748 | €1,537,673 | +€103,925 | +7.2% |
| Financial debts | 170/4 | €1,433,748 | €1,537,673 | +€103,925 | +7.2% |
| Amounts payable within one year | 42/48 | €305,373 | €186,189 | -€119,185 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €122,894 | €126,075 | +€3,180 | +2.6% |
| Trade debts | 44 | €4,077 | €2,778 | -€1,298 | -31.9% |
| Suppliers | 440/4 | €4,077 | €2,778 | -€1,298 | -31.9% |
| Advances received on contracts in progress | 46 | €7,497 | €5,445 | -€2,052 | -27.4% |
| Taxes, remuneration and social security | 45 | €20,800 | €20,003 | -€796 | -3.8% |
| Taxes | 450/3 | €20,800 | €20,003 | -€796 | -3.8% |
| Other amounts payable | 47/48 | €150,106 | €31,888 | -€118,218 | -78.8% |
| Accrued charges and deferred income | 492/3 | €19,774 | €10,285 | -€9,489 | -48.0% |
| Remuneration, social security and pensions | 62 | €216 | €42 | -€174 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,326 | €141,994 | +€17,668 | +14.2% |
| Other operating charges | 640/8 | €943 | €1,511 | +€568 | +60.2% |
| Gross operating margin | 9900 | €251,475 | €181,476 | -€69,998 | -27.8% |
| Operating profit (loss) | 9901 | €125,990 | €37,929 | -€88,060 | -69.9% |
| Financial income | 75/76B | €176 | €55 | -€121 | -68.9% |
| Recurring financial income | 75 | €176 | €55 | -€121 | -68.9% |
| Financial charges | 65/66B | €32,590 | €32,903 | +€313 | +1.0% |
| Recurring financial charges | 65 | €32,590 | €32,903 | +€313 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €93,576 | €5,081 | -€88,495 | -94.6% |
| Income taxes | 67/77 | €30,762 | €921 | -€29,841 | -97.0% |
| Profit (loss) for the period | 9904 | €62,814 | €4,160 | -€58,654 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,814 | €4,160 | -€58,654 | -93.4% |
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 28 October 2026 via checked.be.