Marc Jenner: 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 Jenner
Largest movements
- Stocks and contracts -€13,456
down €13,456 (-100%), from €13,456 to €0
- Receivables within one year -€5,225
down €5,225 (-19.4%), from €26,986 to €21,761
of which Other amounts receivable: -€10,488
- Tangible fixed assets -€4,923
down €4,923 (-28.1%), from €17,534 to €12,611
of which Plant, machinery and equipment: -€2,725
- Intangible fixed assets -€700
down €700 (-27.8%), from €2,516 to €1,816
- Debts after one year -€6,110
down €6,110 (-100%), from €6,110 to €0
- Trade debts -€4,535
down €4,535 (-73.8%), from €6,148 to €1,613
- Short-term financial debts -€4,471
down €4,471 (-51.9%), from €8,621 to €4,150
- Current portion of long-term debt -€3,923
down €3,923 (-39.1%), from €10,033 to €6,110
- Tax, wage and social debts -€3,432
down €3,432 (-74.2%), from €4,624 to €1,192
of which Taxes: -€3,593
- Gross operating margin -€21,620
down €21,620 (-70.2%), from €30,812 to €9,192
- Taxes -€4,003
down €4,003 (-80.3%), from €4,988 to €985
- Financial charges -€421
down €421 (-17.3%), from €2,433 to €2,011
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 | €61,814 | €38,064 | -€23,750 | -38.4% |
| Fixed assets | 21/28 | €20,050 | €14,428 | -€5,623 | -28.0% |
| Intangible fixed assets | 21 | €2,516 | €1,816 | -€700 | -27.8% |
| Tangible fixed assets | 22/27 | €17,534 | €12,611 | -€4,923 | -28.1% |
| Plant, machinery and equipment | 23 | €10,302 | €7,577 | -€2,725 | -26.4% |
| Furniture and vehicles | 24 | €3,852 | €2,618 | -€1,233 | -32.0% |
| Leasing and similar rights | 25 | €3,381 | €2,416 | -€965 | -28.5% |
| Current assets | 29/58 | €41,763 | €23,636 | -€18,127 | -43.4% |
| Stocks and contracts in progress | 3 | €13,456 | €0 | -€13,456 | -100% |
| Contracts in progress | 37 | €13,456 | €0 | -€13,456 | -100% |
| Amounts receivable within one year | 40/41 | €26,986 | €21,761 | -€5,225 | -19.4% |
| Trade receivables | 40 | €0 | €5,263 | +€5,263 | |
| Other amounts receivable | 41 | €26,986 | €16,498 | -€10,488 | -38.9% |
| Cash at bank and in hand | 54/58 | €0 | €417 | +€417 | |
| Deferred charges and accrued income | 490/1 | €1,321 | €1,459 | +€137 | +10.4% |
| Total equity and liabilities | 10/49 | €61,814 | €38,064 | -€23,750 | -38.4% |
| Equity | 10/15 | €24,290 | €24,999 | +€709 | +2.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,290 | €21,999 | +€709 | +3.3% |
| Distributable reserves | 133 | €21,290 | €21,999 | +€709 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,524 | €13,065 | -€24,459 | -65.2% |
| Amounts payable after more than one year | 17 | €6,110 | €0 | -€6,110 | -100% |
| Financial debts | 170/4 | €6,110 | €0 | -€6,110 | -100% |
| Amounts payable within one year | 42/48 | €31,413 | €13,065 | -€18,348 | -58.4% |
| Current portion of amounts payable after more than one year | 42 | €10,033 | €6,110 | -€3,923 | -39.1% |
| Financial debts | 43 | €8,621 | €4,150 | -€4,471 | -51.9% |
| Credit institutions | 430/8 | €8,621 | €4,150 | -€4,471 | -51.9% |
| Trade debts | 44 | €6,148 | €1,613 | -€4,535 | -73.8% |
| Suppliers | 440/4 | €6,148 | €1,613 | -€4,535 | -73.8% |
| Taxes, remuneration and social security | 45 | €4,624 | €1,192 | -€3,432 | -74.2% |
| Taxes | 450/3 | €3,624 | €31 | -€3,593 | -99.1% |
| Remuneration and social security | 454/9 | €1,000 | €1,160 | +€160 | +16.0% |
| Other amounts payable | 47/48 | €1,987 | €0 | -€1,987 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,605 | €5,623 | +€17 | +0.3% |
| Other operating charges | 640/8 | €1,249 | €1,214 | -€34 | -2.7% |
| Gross operating margin | 9900 | €30,812 | €9,192 | -€21,620 | -70.2% |
| Operating profit (loss) | 9901 | €23,958 | €2,355 | -€21,603 | -90.2% |
| Financial income | 75/76B | €1,065 | €1,350 | +€285 | +26.7% |
| Recurring financial income | 75 | €1,065 | €1,350 | +€285 | +26.7% |
| Financial charges | 65/66B | €2,433 | €2,011 | -€421 | -17.3% |
| Recurring financial charges | 65 | €2,433 | €2,011 | -€421 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €22,591 | €1,694 | -€20,897 | -92.5% |
| Income taxes | 67/77 | €4,988 | €985 | -€4,003 | -80.3% |
| Profit (loss) for the period | 9904 | €17,603 | €709 | -€16,894 | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,603 | €709 | -€16,894 | -96.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.