Jürgen Ortmann: 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.
Jürgen Ortmann
Largest movements
- Current investments +€10,000
up €10,000 (+66.7%), from €15,000 to €25,000
- Receivables within one year -€6,150
down €6,150 (-14.0%), from €44,068 to €37,918
of which Other amounts receivable: -€6,150
- Cash -€2,392
down €2,392 (-7.6%), from €31,449 to €29,056
mainly Current investments (-€10,000) and Other debts (-€9,286)
- Tangible fixed assets +€2,048
up €2,048, from €0 to €2,048
- Reserves +€11,683
up €11,683 (+33.9%), from €34,496 to €46,179
- Other debts -€9,286
down €9,286 (-17.0%), from €54,742 to €45,456
- Depreciation -€7,461
down €7,461 (-94.2%), from €7,916 to €455
- Gross operating margin -€3,723
down €3,723 (-18.3%), from €20,386 to €16,663
- Financial income -€1,094
down €1,094 (-40.6%), from €2,697 to €1,603
- Taxes +€396
up €396 (+8.5%), from €4,641 to €5,037
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 | €98,749 | €101,275 | +€2,525 | +2.6% |
| Fixed assets | 21/28 | €5,000 | €7,048 | +€2,048 | +41.0% |
| Tangible fixed assets | 22/27 | €0 | €2,048 | +€2,048 | |
| Furniture and vehicles | 24 | €0 | €2,048 | +€2,048 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €93,749 | €94,227 | +€478 | +0.5% |
| Amounts receivable within one year | 40/41 | €44,068 | €37,918 | -€6,150 | -14.0% |
| Trade receivables | 40 | €6,500 | €6,500 | = | 0.0% |
| Other amounts receivable | 41 | €37,568 | €31,418 | -€6,150 | -16.4% |
| Current investments | 50/53 | €15,000 | €25,000 | +€10,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €31,449 | €29,056 | -€2,392 | -7.6% |
| Deferred charges and accrued income | 490/1 | €3,233 | €2,253 | -€980 | -30.3% |
| Total equity and liabilities | 10/49 | €98,749 | €101,275 | +€2,525 | +2.6% |
| Equity | 10/15 | €39,552 | €51,235 | +€11,683 | +29.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,496 | €46,179 | +€11,683 | +33.9% |
| Distributable reserves | 133 | €34,496 | €46,179 | +€11,683 | +33.9% |
| Profit (loss) carried forward | 14 | €56 | €56 | = | 0.0% |
| Amounts payable | 17/49 | €59,197 | €50,040 | -€9,158 | -15.5% |
| Amounts payable within one year | 42/48 | €59,197 | €50,040 | -€9,158 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €518 | €388 | -€130 | -25.1% |
| Suppliers | 440/4 | €518 | €388 | -€130 | -25.1% |
| Taxes, remuneration and social security | 45 | €3,937 | €4,195 | +€258 | +6.6% |
| Taxes | 450/3 | €3,937 | €4,195 | +€258 | +6.6% |
| Other amounts payable | 47/48 | €54,742 | €45,456 | -€9,286 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,916 | €455 | -€7,461 | -94.2% |
| Other operating charges | 640/8 | €1,051 | €1,037 | -€14 | -1.3% |
| Gross operating margin | 9900 | €20,386 | €16,663 | -€3,723 | -18.3% |
| Operating profit (loss) | 9901 | €11,419 | €15,171 | +€3,752 | +32.9% |
| Financial income | 75/76B | €2,697 | €1,603 | -€1,094 | -40.6% |
| Recurring financial income | 75 | €2,697 | €1,603 | -€1,094 | -40.6% |
| Financial charges | 65/66B | €204 | €54 | -€149 | -73.3% |
| Recurring financial charges | 65 | €204 | €54 | -€149 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €13,912 | €16,720 | +€2,807 | +20.2% |
| Income taxes | 67/77 | €4,641 | €5,037 | +€396 | +8.5% |
| Profit (loss) for the period | 9904 | €9,271 | €11,683 | +€2,412 | +26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,271 | €11,683 | +€2,412 | +26.0% |
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 21 October 2026 via checked.be.