Martine Jacobs: 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.
Martine Jacobs
Largest movements
- Cash +€1,175
up €1,175 (+3.6%), from €32,943 to €34,118
mainly Net result for the year (+€14,625) and Depreciation (+€1,151)
- Tangible fixed assets -€1,151
down €1,151 (-15.1%), from €7,605 to €6,454
- Reserves +€14,625
up €14,625 (+21.5%), from €68,135 to €82,761
- Other debts -€13,726
down €13,726 (-100%), from €13,726 to €0
- Staff costs -€2,019
no longer reported in 2025 (was €2,019)
- Other operating charges +€831
new in 2025: €831
- Taxes +€600
up €600 (+9.5%), from €6,284 to €6,884
- Depreciation +€529
up €529 (+85.1%), from €622 to €1,151
- Gross operating margin -€273
down €273 (-1.1%), from €23,848 to €23,575
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 | €102,823 | €103,358 | +€535 | +0.5% |
| Fixed assets | 21/28 | €7,605 | €6,454 | -€1,151 | -15.1% |
| Tangible fixed assets | 22/27 | €7,605 | €6,454 | -€1,151 | -15.1% |
| Land and buildings | 22 | €7,605 | €6,454 | -€1,151 | -15.1% |
| Current assets | 29/58 | €95,218 | €96,904 | +€1,686 | +1.8% |
| Stocks and contracts in progress | 3 | €51,276 | €51,787 | +€511 | +1.0% |
| Stocks | 30/36 | €51,276 | €51,787 | +€511 | +1.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €10,999 | €10,999 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,943 | €34,118 | +€1,175 | +3.6% |
| Total equity and liabilities | 10/49 | €102,823 | €103,358 | +€535 | +0.5% |
| Equity | 10/15 | €86,735 | €101,361 | +€14,625 | +16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,135 | €82,761 | +€14,625 | +21.5% |
| Distributable reserves | 133 | €68,135 | €82,761 | +€14,625 | +21.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €16,088 | €1,998 | -€14,090 | -87.6% |
| Amounts payable within one year | 42/48 | €16,088 | €1,998 | -€14,090 | -87.6% |
| Trade debts | 44 | €159 | €280 | +€121 | +75.9% |
| Suppliers | 440/4 | €159 | €280 | +€121 | +75.9% |
| Taxes, remuneration and social security | 45 | €2,203 | €1,718 | -€485 | -22.0% |
| Taxes | 450/3 | €2,203 | €1,718 | -€485 | -22.0% |
| Other amounts payable | 47/48 | €13,726 | €0 | -€13,726 | -100% |
| Remuneration, social security and pensions | 62 | €2,019 | - | -€2,019 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €622 | €1,151 | +€529 | +85.1% |
| Other operating charges | 640/8 | - | €831 | +€831 | |
| Gross operating margin | 9900 | €23,848 | €23,575 | -€273 | -1.1% |
| Operating profit (loss) | 9901 | €21,207 | €21,593 | +€386 | +1.8% |
| Financial income | 75/76B | €23 | €73 | +€50 | +214% |
| Recurring financial income | 75 | €23 | €73 | +€50 | +214% |
| Financial charges | 65/66B | - | €157 | +€157 | |
| Recurring financial charges | 65 | - | €157 | +€157 | |
| Profit (loss) for the period before taxes | 9903 | €21,231 | €21,509 | +€278 | +1.3% |
| Income taxes | 67/77 | €6,284 | €6,884 | +€600 | +9.5% |
| Profit (loss) for the period | 9904 | €14,947 | €14,625 | -€321 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,947 | €14,625 | -€321 | -2.1% |
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 20 October 2026 via checked.be.