Mark Dejaegher: 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.
Mark Dejaegher
Largest movements
- Current investments +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Cash -€25,816
down €25,816 (-43.8%), from €58,991 to €33,175
mainly Current investments (-€50,000) and Other debts (-€2,777)
- Tangible fixed assets -€5,934
down €5,934 (-74.5%), from €7,960 to €2,026
of which Furniture and vehicles: -€4,125
- Receivables within one year -€3,488
down €3,488 (-59.5%), from €5,864 to €2,376
of which Trade receivables: -€3,081
- Reserves +€15,960
up €15,960 (+18.7%), from €85,513 to €101,473
- Other debts -€2,777
down €2,777 (-16.7%), from €16,599 to €13,822
- Taxes +€4,046
up €4,046 (+117%), from €3,466 to €7,512
- Financial income +€2,310
up €2,310 (+532%), from €434 to €2,744
- Financial charges +€1,071
up €1,071 (+731%), from €146 to €1,217
- Depreciation -€880
down €880 (-12.9%), from €6,813 to €5,934
- Gross operating margin +€644
up €644 (+2.3%), from €28,045 to €28,689
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 | €123,545 | €138,178 | +€14,633 | +11.8% |
| Fixed assets | 21/28 | €7,960 | €2,026 | -€5,934 | -74.5% |
| Tangible fixed assets | 22/27 | €7,960 | €2,026 | -€5,934 | -74.5% |
| Plant, machinery and equipment | 23 | €1,821 | €13 | -€1,808 | -99.3% |
| Furniture and vehicles | 24 | €6,139 | €2,014 | -€4,125 | -67.2% |
| Current assets | 29/58 | €115,585 | €136,151 | +€20,566 | +17.8% |
| Amounts receivable within one year | 40/41 | €5,864 | €2,376 | -€3,488 | -59.5% |
| Trade receivables | 40 | €3,081 | €0 | -€3,081 | -100% |
| Other amounts receivable | 41 | €2,783 | €2,376 | -€407 | -14.6% |
| Current investments | 50/53 | €50,000 | €100,000 | +€50,000 | +100% |
| Cash at bank and in hand | 54/58 | €58,991 | €33,175 | -€25,816 | -43.8% |
| Deferred charges and accrued income | 490/1 | €729 | €600 | -€130 | -17.8% |
| Total equity and liabilities | 10/49 | €123,545 | €138,178 | +€14,633 | +11.8% |
| Equity | 10/15 | €104,113 | €120,073 | +€15,960 | +15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,513 | €101,473 | +€15,960 | +18.7% |
| Distributable reserves | 133 | €85,513 | €101,473 | +€15,960 | +18.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,432 | €18,104 | -€1,328 | -6.8% |
| Amounts payable within one year | 42/48 | €19,432 | €17,139 | -€2,293 | -11.8% |
| Trade debts | 44 | €1,599 | €2,075 | +€475 | +29.7% |
| Suppliers | 440/4 | €1,599 | €2,075 | +€475 | +29.7% |
| Taxes, remuneration and social security | 45 | €1,233 | €1,242 | +€9 | +0.7% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €1,233 | €1,242 | +€9 | +0.7% |
| Other amounts payable | 47/48 | €16,599 | €13,822 | -€2,777 | -16.7% |
| Accrued charges and deferred income | 492/3 | €0 | €965 | +€965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,813 | €5,934 | -€880 | -12.9% |
| Other operating charges | 640/8 | €850 | €810 | -€39 | -4.6% |
| Gross operating margin | 9900 | €28,045 | €28,689 | +€644 | +2.3% |
| Operating profit (loss) | 9901 | €20,382 | €21,945 | +€1,563 | +7.7% |
| Financial income | 75/76B | €434 | €2,744 | +€2,310 | +532% |
| Recurring financial income | 75 | €434 | €2,744 | +€2,310 | +532% |
| Financial charges | 65/66B | €146 | €1,217 | +€1,071 | +731% |
| Recurring financial charges | 65 | €146 | €1,217 | +€1,071 | +731% |
| Profit (loss) for the period before taxes | 9903 | €20,670 | €23,472 | +€2,802 | +13.6% |
| Income taxes | 67/77 | €3,466 | €7,512 | +€4,046 | +117% |
| Profit (loss) for the period | 9904 | €17,204 | €15,960 | -€1,243 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,204 | €15,960 | -€1,243 | -7.2% |
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 21 October 2026 via checked.be.