Marc JANSSEN: what changed
Two fiscal 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 JANSSEN
Largest movements
- Receivables within one year -€78,424
down €78,424 (-81.1%), from €96,683 to €18,259
of which Other amounts receivable: -€76,609
- Cash +€70,122
up €70,122 (+458.2%), from €15,303 to €85,425
mainly Receivables within one year (+€78,424) and Depreciation (+€25,619)
- Tangible fixed assets -€23,308
down €23,308 (-27.7%), from €84,157 to €60,849
of which Furniture and vehicles: -€14,252
- Current investments -€5,305
down €5,305 (-96.2%), from €5,515 to €210
- Debts after one year -€19,692
down €19,692 (-15.9%), from €124,176 to €104,484
- Trade debts -€8,476
down €8,476 (-79.5%), from €10,660 to €2,184
- Current portion of long-term debt -€7,778
down €7,778 (-28.3%), from €27,470 to €19,692
- Profit (loss) carried forward -€4,101
down €4,101 (-30.4%), from -€13,482 to -€17,583
- Tax, wage and social debts +€3,248
up €3,248 (+40.7%), from €7,981 to €11,229
- Gross operating margin +€20,302
up €20,302 (+180.6%), from €11,240 to €31,542
- Taxes +€3,603
up €3,603 (+1581.4%), from €228 to €3,831
- Financial income -€1,822
down €1,822 (-86.3%), from €2,112 to €290
- Depreciation +€1,342
up €1,342 (+5.5%), from €24,276 to €25,619
- Financial charges -€622
down €622 (-8.8%), from €7,040 to €6,418
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 | €203,303 | €164,743 | -€38,560 | -19.0% |
| Fixed assets | 21/28 | €84,157 | €60,849 | -€23,308 | -27.7% |
| Tangible fixed assets | 22/27 | €84,157 | €60,849 | -€23,308 | -27.7% |
| Land and buildings | 22 | €37,108 | €28,051 | -€9,057 | -24.4% |
| Furniture and vehicles | 24 | €47,050 | €32,798 | -€14,252 | -30.3% |
| Current assets | 29/58 | €119,146 | €103,894 | -€15,252 | -12.8% |
| Amounts receivable within one year | 40/41 | €96,683 | €18,259 | -€78,424 | -81.1% |
| Trade receivables | 40 | €2,541 | €726 | -€1,815 | -71.4% |
| Other amounts receivable | 41 | €94,142 | €17,533 | -€76,609 | -81.4% |
| Current investments | 50/53 | €5,515 | €210 | -€5,305 | -96.2% |
| Cash at bank and in hand | 54/58 | €15,303 | €85,425 | +€70,122 | +458.2% |
| Deferred charges and accrued income | 490/1 | €1,644 | €0 | -€1,644 | -100.0% |
| Total equity and liabilities | 10/49 | €203,303 | €164,743 | -€38,560 | -19.0% |
| Equity | 10/15 | €29,343 | €23,382 | -€5,961 | -20.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €30,425 | €28,565 | -€1,860 | -6.1% |
| Distributable reserves | 133 | €30,425 | €28,565 | -€1,860 | -6.1% |
| Profit (loss) carried forward | 14 | -€13,482 | -€17,583 | -€4,101 | -30.4% |
| Amounts payable | 17/49 | €173,960 | €141,361 | -€32,599 | -18.7% |
| Amounts payable after more than one year | 17 | €124,176 | €104,484 | -€19,692 | -15.9% |
| Financial debts | 170/4 | €124,176 | €104,484 | -€19,692 | -15.9% |
| Amounts payable within one year | 42/48 | €49,134 | €36,877 | -€12,257 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €27,470 | €19,692 | -€7,778 | -28.3% |
| Financial debts | 43 | €3,022 | €1,083 | -€1,940 | -64.2% |
| Credit institutions | 430/8 | €3,022 | €1,083 | -€1,940 | -64.2% |
| Trade debts | 44 | €10,660 | €2,184 | -€8,476 | -79.5% |
| Suppliers | 440/4 | €10,660 | €2,184 | -€8,476 | -79.5% |
| Taxes, remuneration and social security | 45 | €7,981 | €11,229 | +€3,248 | +40.7% |
| Taxes | 450/3 | €7,981 | €11,229 | +€3,248 | +40.7% |
| Other amounts payable | 47/48 | - | €2,689 | +€2,689 | |
| Accrued charges and deferred income | 492/3 | €651 | €0 | -€651 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,276 | €25,619 | +€1,342 | +5.5% |
| Other operating charges | 640/8 | €1,498 | €1,925 | +€427 | +28.5% |
| Gross operating margin | 9900 | €11,240 | €31,542 | +€20,302 | +180.6% |
| Operating profit (loss) | 9901 | -€14,534 | €3,999 | +€18,532 | |
| Financial income | 75/76B | €2,112 | €290 | -€1,822 | -86.3% |
| Recurring financial income | 75 | €2,112 | €290 | -€1,822 | -86.3% |
| Financial charges | 65/66B | €7,040 | €6,418 | -€622 | -8.8% |
| Recurring financial charges | 65 | €7,040 | €6,418 | -€622 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,462 | -€2,130 | +€17,332 | +89.1% |
| Income taxes | 67/77 | €228 | €3,831 | +€3,603 | +1581.4% |
| Profit (loss) for the period | 9904 | -€19,690 | -€5,961 | +€13,729 | +69.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,690 | -€5,961 | +€13,729 | +69.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.