MARC DEJONCKHEERE: 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.
MARC DEJONCKHEERE
Largest movements
- Tangible fixed assets -€218,315
down €218,315 (-17.7%), from €1.2m to €1.0m
- Current investments +€146,287
up €146,287 (+37.4%), from €391,552 to €537,839
- Receivables within one year +€35,454
up €35,454 (+20.1%), from €176,681 to €212,134
of which Trade receivables: +€59,593
- Cash +€35,431
up €35,431 (+78.2%), from €45,320 to €80,751
mainly Net result for the year (+€335,009) and Other debts (+€167,555)
- Other debts +€167,555
up €167,555 (+301%), from €55,623 to €223,178
- Reserves -€119,067
down €119,067 (-8.7%), from €1.4m to €1.2m
of which Distributable reserves: -€119,067
- Debts after one year -€54,510
down €54,510 (-18.6%), from €293,471 to €238,961
- Gross operating margin +€192,737
up €192,737 (+42.3%), from €455,908 to €648,644
- Taxes +€54,338
up €54,338 (+59.4%), from €91,545 to €145,883
- Depreciation +€29,218
up €29,218 (+22.7%), from €128,787 to €158,005
- Financial charges -€8,002
down €8,002 (-40.8%), from €19,609 to €11,607
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 | €1,877,826 | €1,873,038 | -€4,788 | -0.3% |
| Fixed assets | 21/28 | €1,234,669 | €1,016,354 | -€218,315 | -17.7% |
| Tangible fixed assets | 22/27 | €1,234,669 | €1,016,354 | -€218,315 | -17.7% |
| Land and buildings | 22 | €777,336 | €695,505 | -€81,832 | -10.5% |
| Plant, machinery and equipment | 23 | €183,760 | €112,079 | -€71,680 | -39.0% |
| Furniture and vehicles | 24 | €273,573 | €208,770 | -€64,803 | -23.7% |
| Current assets | 29/58 | €643,158 | €856,684 | +€213,527 | +33.2% |
| Stocks and contracts in progress | 3 | €27,225 | €24,931 | -€2,295 | -8.4% |
| Stocks | 30/36 | €27,225 | €24,931 | -€2,295 | -8.4% |
| Amounts receivable within one year | 40/41 | €176,681 | €212,134 | +€35,454 | +20.1% |
| Trade receivables | 40 | €115,097 | €174,690 | +€59,593 | +51.8% |
| Other amounts receivable | 41 | €61,583 | €37,444 | -€24,139 | -39.2% |
| Current investments | 50/53 | €391,552 | €537,839 | +€146,287 | +37.4% |
| Cash at bank and in hand | 54/58 | €45,320 | €80,751 | +€35,431 | +78.2% |
| Deferred charges and accrued income | 490/1 | €2,380 | €1,030 | -€1,350 | -56.7% |
| Total equity and liabilities | 10/49 | €1,877,826 | €1,873,038 | -€4,788 | -0.3% |
| Equity | 10/15 | €1,381,160 | €1,262,093 | -€119,067 | -8.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,362,568 | €1,243,501 | -€119,067 | -8.7% |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €1,348,568 | €1,229,501 | -€119,067 | -8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €496,666 | €610,945 | +€114,279 | +23.0% |
| Amounts payable after more than one year | 17 | €293,471 | €238,961 | -€54,510 | -18.6% |
| Financial debts | 170/4 | €293,471 | €238,961 | -€54,510 | -18.6% |
| Amounts payable within one year | 42/48 | €203,195 | €371,983 | +€168,789 | +83.1% |
| Current portion of amounts payable after more than one year | 42 | €58,864 | €54,510 | -€4,355 | -7.4% |
| Financial debts | 43 | €20,250 | €20,196 | -€54 | -0.3% |
| Credit institutions | 430/8 | €20,250 | €20,196 | -€54 | -0.3% |
| Trade debts | 44 | €34,361 | €30,624 | -€3,737 | -10.9% |
| Suppliers | 440/4 | €34,361 | €30,624 | -€3,737 | -10.9% |
| Taxes, remuneration and social security | 45 | €34,097 | €43,476 | +€9,379 | +27.5% |
| Taxes | 450/3 | €27,197 | €35,976 | +€8,779 | +32.3% |
| Remuneration and social security | 454/9 | €6,900 | €7,500 | +€600 | +8.7% |
| Other amounts payable | 47/48 | €55,623 | €223,178 | +€167,555 | +301% |
| Non-recurring operating income | 76A | - | €72,373 | +€72,373 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,787 | €158,005 | +€29,218 | +22.7% |
| Other operating charges | 640/8 | €13,572 | €14,134 | +€562 | +4.1% |
| Gross operating margin | 9900 | €455,908 | €648,644 | +€192,737 | +42.3% |
| Operating profit (loss) | 9901 | €313,549 | €476,505 | +€162,956 | +52.0% |
| Financial income | 75/76B | €14,671 | €15,994 | +€1,322 | +9.0% |
| Recurring financial income | 75 | €14,671 | €15,994 | +€1,322 | +9.0% |
| Financial charges | 65/66B | €19,609 | €11,607 | -€8,002 | -40.8% |
| Recurring financial charges | 65 | €19,609 | €11,607 | -€8,002 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €308,611 | €480,892 | +€172,281 | +55.8% |
| Income taxes | 67/77 | €91,545 | €145,883 | +€54,338 | +59.4% |
| Profit (loss) for the period | 9904 | €217,066 | €335,009 | +€117,943 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €217,066 | €335,009 | +€117,943 | +54.3% |
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 22 October 2026 via checked.be.