MARC JANSSENS: 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 JANSSENS
Largest movements
- Cash +€44,186
up €44,186 (+44.3%), from €99,654 to €143,840
mainly Net result for the year (+€57,976) and Other debts (+€31,083)
- Tangible fixed assets +€38,536
up €38,536 (+67.6%), from €57,004 to €95,540
of which Furniture and vehicles: +€55,913
- Receivables within one year +€21,828
up €21,828 (+39.0%), from €56,035 to €77,863
of which Trade receivables: +€44,716
- Other debts +€31,083
up €31,083 (+384%), from €8,087 to €39,170
- Tax, wage and social debts +€28,559
up €28,559 (+648%), from €4,408 to €32,967
- Reserves +€22,188
up €22,188 (+20.6%), from €107,949 to €130,137
- Trade debts +€13,903
up €13,903 (+806%), from €1,725 to €15,628
- Current portion of long-term debt +€11,724
up €11,724 (+70.2%), from €16,703 to €28,427
- Gross operating margin +€68,805
up €68,805 (+125%), from €55,121 to €123,926
- Taxes +€21,430
up €21,430 (+251%), from €8,521 to €29,951
- Depreciation +€7,154
up €7,154 (+31.4%), from €22,762 to €29,916
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 | €230,955 | €335,678 | +€104,723 | +45.3% |
| Fixed assets | 21/28 | €57,136 | €95,540 | +€38,404 | +67.2% |
| Tangible fixed assets | 22/27 | €57,004 | €95,540 | +€38,536 | +67.6% |
| Land and buildings | 22 | €40,851 | €24,166 | -€16,685 | -40.8% |
| Plant, machinery and equipment | 23 | €2,728 | €2,036 | -€692 | -25.4% |
| Furniture and vehicles | 24 | €13,425 | €69,338 | +€55,913 | +416% |
| Financial fixed assets | 28 | €132 | - | -€132 | |
| Current assets | 29/58 | €173,819 | €240,138 | +€66,319 | +38.2% |
| Stocks and contracts in progress | 3 | €18,130 | €18,435 | +€305 | +1.7% |
| Stocks | 30/36 | €18,130 | €18,435 | +€305 | +1.7% |
| Amounts receivable within one year | 40/41 | €56,035 | €77,863 | +€21,828 | +39.0% |
| Trade receivables | 40 | €19,402 | €64,118 | +€44,716 | +230% |
| Other amounts receivable | 41 | €36,633 | €13,745 | -€22,888 | -62.5% |
| Cash at bank and in hand | 54/58 | €99,654 | €143,840 | +€44,186 | +44.3% |
| Total equity and liabilities | 10/49 | €230,955 | €335,678 | +€104,723 | +45.3% |
| Equity | 10/15 | €143,949 | €166,137 | +€22,188 | +15.4% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €107,949 | €130,137 | +€22,188 | +20.6% |
| Distributable reserves | 133 | €107,949 | €130,137 | +€22,188 | +20.6% |
| Amounts payable | 17/49 | €87,006 | €169,541 | +€82,535 | +94.9% |
| Amounts payable after more than one year | 17 | €56,083 | €52,849 | -€3,234 | -5.8% |
| Financial debts | 170/4 | €56,083 | €52,849 | -€3,234 | -5.8% |
| Amounts payable within one year | 42/48 | €30,923 | €116,692 | +€85,769 | +277% |
| Current portion of amounts payable after more than one year | 42 | €16,703 | €28,427 | +€11,724 | +70.2% |
| Trade debts | 44 | €1,725 | €15,628 | +€13,903 | +806% |
| Suppliers | 440/4 | €1,725 | €15,628 | +€13,903 | +806% |
| Advances received on contracts in progress | 46 | - | €500 | +€500 | |
| Taxes, remuneration and social security | 45 | €4,408 | €32,967 | +€28,559 | +648% |
| Taxes | 450/3 | €4,408 | €32,967 | +€28,559 | +648% |
| Other amounts payable | 47/48 | €8,087 | €39,170 | +€31,083 | +384% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,762 | €29,916 | +€7,154 | +31.4% |
| Other operating charges | 640/8 | €2,648 | €2,927 | +€279 | +10.5% |
| Gross operating margin | 9900 | €55,121 | €123,926 | +€68,805 | +125% |
| Operating profit (loss) | 9901 | €29,711 | €91,083 | +€61,372 | +207% |
| Financial income | 75/76B | €1,831 | €628 | -€1,203 | -65.7% |
| Recurring financial income | 75 | €1,831 | €628 | -€1,203 | -65.7% |
| Financial charges | 65/66B | €2,964 | €3,784 | +€820 | +27.7% |
| Recurring financial charges | 65 | €2,964 | €3,784 | +€820 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €28,578 | €87,927 | +€59,349 | +208% |
| Income taxes | 67/77 | €8,521 | €29,951 | +€21,430 | +251% |
| Profit (loss) for the period | 9904 | €20,057 | €57,976 | +€37,919 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €20,057 | €57,976 | +€37,919 | +189% |
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.