Liesbeth 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.
Liesbeth Jacobs
Largest movements
- Tangible fixed assets -€25,478
down €25,478 (-28.7%), from €88,823 to €63,345
of which Furniture and vehicles: -€18,960
- Receivables within one year -€8,794
down €8,794 (-23.0%), from €38,267 to €29,473
of which Trade receivables: -€13,011
- Stocks and contracts +€3,111
up €3,111 (+38.2%), from €8,142 to €11,254
- Deferred charges and accrued income +€2,438
up €2,438 (+193.4%), from €1,261 to €3,699
- Cash -€2,096
down €2,096 (-5.5%), from €38,039 to €35,943
mainly Contributions, distributions and other (-€123,895) and Debts after one year (-€12,390)
- Profit (loss) carried forward -€94,381
down €94,381 (-100.0%), from €94,381 to €0
- Other debts +€76,532
up €76,532 (+630.7%), from €12,135 to €88,666
- Debts after one year -€12,390
down €12,390 (-30.5%), from €40,618 to €28,228
- Contributions -€4,824
down €4,824 (-63.6%), from €7,589 to €2,764
- Trade debts +€2,330
up €2,330 (+61.7%), from €3,776 to €6,106
- Gross operating margin -€22,218
down €22,218 (-26.8%), from €83,011 to €60,793
- Staff costs -€4,620
down €4,620 (-100.0%), from €4,620 to €0
- Taxes -€3,940
down €3,940 (-37.6%), from €10,488 to €6,548
- Financial charges +€1,059
up €1,059 (+48.7%), from €2,176 to €3,235
- Depreciation +€864
up €864 (+3.5%), from €24,615 to €25,478
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 | €174,532 | €143,714 | -€30,818 | -17.7% |
| Fixed assets | 21/28 | €88,823 | €63,345 | -€25,478 | -28.7% |
| Tangible fixed assets | 22/27 | €88,823 | €63,345 | -€25,478 | -28.7% |
| Plant, machinery and equipment | 23 | €14,840 | €8,322 | -€6,518 | -43.9% |
| Furniture and vehicles | 24 | €73,983 | €55,023 | -€18,960 | -25.6% |
| Current assets | 29/58 | €85,709 | €80,369 | -€5,340 | -6.2% |
| Stocks and contracts in progress | 3 | €8,142 | €11,254 | +€3,111 | +38.2% |
| Stocks | 30/36 | €8,142 | €11,254 | +€3,111 | +38.2% |
| Amounts receivable within one year | 40/41 | €38,267 | €29,473 | -€8,794 | -23.0% |
| Trade receivables | 40 | €38,207 | €25,196 | -€13,011 | -34.1% |
| Other amounts receivable | 41 | €60 | €4,277 | +€4,217 | +7036.9% |
| Cash at bank and in hand | 54/58 | €38,039 | €35,943 | -€2,096 | -5.5% |
| Deferred charges and accrued income | 490/1 | €1,261 | €3,699 | +€2,438 | +193.4% |
| Total equity and liabilities | 10/49 | €174,532 | €143,714 | -€30,818 | -17.7% |
| Equity | 10/15 | €101,970 | €2,764 | -€99,206 | -97.3% |
| Contributions | 10/11 | €7,589 | €2,764 | -€4,824 | -63.6% |
| Profit (loss) carried forward | 14 | €94,381 | €0 | -€94,381 | -100.0% |
| Amounts payable | 17/49 | €72,562 | €140,949 | +€68,388 | +94.2% |
| Amounts payable after more than one year | 17 | €40,618 | €28,228 | -€12,390 | -30.5% |
| Financial debts | 170/4 | €40,618 | €28,228 | -€12,390 | -30.5% |
| Amounts payable within one year | 42/48 | €31,944 | €112,671 | +€80,727 | +252.7% |
| Current portion of amounts payable after more than one year | 42 | €12,003 | €12,390 | +€387 | +3.2% |
| Financial debts | 43 | €2 | €2 | = | 0.0% |
| Credit institutions | 430/8 | €2 | €2 | = | 0.0% |
| Trade debts | 44 | €3,776 | €6,106 | +€2,330 | +61.7% |
| Suppliers | 440/4 | €3,776 | €6,106 | +€2,330 | +61.7% |
| Taxes, remuneration and social security | 45 | €4,029 | €5,508 | +€1,479 | +36.7% |
| Taxes | 450/3 | €1,940 | €3,158 | +€1,217 | +62.7% |
| Remuneration and social security | 454/9 | €2,089 | €2,350 | +€261 | +12.5% |
| Other amounts payable | 47/48 | €12,135 | €88,666 | +€76,532 | +630.7% |
| Accrued charges and deferred income | 492/3 | €0 | €50 | +€50 | |
| Non-recurring operating income | 76A | €14,822 | €0 | -€14,822 | -100.0% |
| Remuneration, social security and pensions | 62 | €4,620 | €0 | -€4,620 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,615 | €25,478 | +€864 | +3.5% |
| Other operating charges | 640/8 | €988 | €1,320 | +€332 | +33.6% |
| Gross operating margin | 9900 | €83,011 | €60,793 | -€22,218 | -26.8% |
| Operating profit (loss) | 9901 | €52,788 | €33,995 | -€18,794 | -35.6% |
| Financial income | 75/76B | €0 | €478 | +€477 | +136408.6% |
| Recurring financial income | 75 | €0 | €478 | +€477 | +136408.6% |
| Financial charges | 65/66B | €2,176 | €3,235 | +€1,059 | +48.7% |
| Recurring financial charges | 65 | €2,176 | €3,235 | +€1,059 | +48.7% |
| Profit (loss) for the period before taxes | 9903 | €50,613 | €31,237 | -€19,375 | -38.3% |
| Income taxes | 67/77 | €10,488 | €6,548 | -€3,940 | -37.6% |
| Profit (loss) for the period | 9904 | €40,124 | €24,690 | -€15,435 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,124 | €24,690 | -€15,435 | -38.5% |
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 11 October 2026 via checked.be.