Karel Jacobs: 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.
Karel Jacobs
Largest movements
- Receivables within one year +€46,620
up €46,620 (+3,483%), from €1,338 to €47,959
of which Trade receivables: +€47,959
- Cash -€36,134
down €36,134 (-47.4%), from €76,302 to €40,168
mainly Contributions, distributions and other (-€108,680) and Receivables within one year (-€46,620)
- Deferred charges and accrued income +€16,834
up €16,834 (+3,393%), from €496 to €17,330
- Tangible fixed assets -€2,156
down €2,156 (-8.3%), from €25,940 to €23,783
of which Plant, machinery and equipment: -€2,357
- Other debts +€86,649
up €86,649 (+777%), from €11,152 to €97,801
- Reserves -€68,054
down €68,054 (-80.5%), from €84,501 to €16,447
- Tax, wage and social debts +€4,904
up €4,904 (+64.7%), from €7,582 to €12,485
- Gross operating margin +€29,555
up €29,555 (+107%), from €27,534 to €57,089
- Taxes +€6,384
up €6,384 (+127%), from €5,026 to €11,410
- Financial charges -€1,070
down €1,070 (-44.1%), from €2,429 to €1,359
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 | €104,530 | €129,240 | +€24,710 | +23.6% |
| Formation expenses | 20 | €454 | €0 | -€454 | -100% |
| Fixed assets | 21/28 | €25,940 | €23,783 | -€2,156 | -8.3% |
| Tangible fixed assets | 22/27 | €25,940 | €23,783 | -€2,156 | -8.3% |
| Plant, machinery and equipment | 23 | €3,104 | €747 | -€2,357 | -75.9% |
| Furniture and vehicles | 24 | - | €1,409 | +€1,409 | |
| Other tangible fixed assets | 26 | €22,836 | €21,627 | -€1,209 | -5.3% |
| Current assets | 29/58 | €78,137 | €105,457 | +€27,320 | +35.0% |
| Amounts receivable within one year | 40/41 | €1,338 | €47,959 | +€46,620 | +3,483% |
| Trade receivables | 40 | - | €47,959 | +€47,959 | |
| Other amounts receivable | 41 | €1,338 | €0 | -€1,338 | -100% |
| Cash at bank and in hand | 54/58 | €76,302 | €40,168 | -€36,134 | -47.4% |
| Deferred charges and accrued income | 490/1 | €496 | €17,330 | +€16,834 | +3,393% |
| Total equity and liabilities | 10/49 | €104,530 | €129,240 | +€24,710 | +23.6% |
| Equity | 10/15 | €84,601 | €16,547 | -€68,054 | -80.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €84,501 | €16,447 | -€68,054 | -80.5% |
| Distributable reserves | 133 | €84,501 | €16,447 | -€68,054 | -80.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,929 | €112,694 | +€92,764 | +465% |
| Amounts payable within one year | 42/48 | €19,929 | €112,694 | +€92,764 | +465% |
| Financial debts | 43 | - | €111 | +€111 | |
| Credit institutions | 430/8 | - | €111 | +€111 | |
| Trade debts | 44 | €1,196 | €2,297 | +€1,101 | +92.1% |
| Suppliers | 440/4 | €1,196 | €2,297 | +€1,101 | +92.1% |
| Taxes, remuneration and social security | 45 | €7,582 | €12,485 | +€4,904 | +64.7% |
| Taxes | 450/3 | €7,582 | €12,485 | +€4,904 | +64.7% |
| Other amounts payable | 47/48 | €11,152 | €97,801 | +€86,649 | +777% |
| Non-recurring operating income | 76A | - | €314 | +€314 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,659 | €3,239 | -€420 | -11.5% |
| Other operating charges | 640/8 | €87 | €463 | +€376 | +434% |
| Gross operating margin | 9900 | €27,534 | €57,089 | +€29,555 | +107% |
| Operating profit (loss) | 9901 | €23,789 | €53,387 | +€29,598 | +124% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €2,429 | €1,359 | -€1,070 | -44.1% |
| Recurring financial charges | 65 | €2,429 | €1,359 | -€1,070 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €21,359 | €52,036 | +€30,677 | +144% |
| Income taxes | 67/77 | €5,026 | €11,410 | +€6,384 | +127% |
| Profit (loss) for the period | 9904 | €16,333 | €40,626 | +€24,293 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €16,333 | €40,626 | +€24,293 | +149% |
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 26 October 2026 via checked.be.