Nick Janssens: what changed
Nick Janssens
Largest movements
- Cash -€51,946
down €51,946 (-33.5%), from €154,858 to €102,912
mainly Contributions, distributions and other (-€205,771) and Other debts (-€80,198)
- Receivables within one year -€18,026
down €18,026 (-22.9%), from €78,836 to €60,810
of which Other amounts receivable: -€18,543
- Tangible fixed assets -€15,639
down €15,639 (-15.8%), from €98,998 to €83,358
of which Furniture and vehicles: -€10,966
- Current investments +€5,770
new in 2025: €5,770
- Other debts -€80,198
down €80,198 (-76.3%), from €105,103 to €24,905
- Reserves +€56,333
up €56,333 (+27.1%), from €207,727 to €264,060
of which Distributable reserves: +€56,333
- Tax, wage and social debts -€23,093
down €23,093 (-83.5%), from €27,649 to €4,555
- Debts after one year -€22,516
down €22,516 (-49.7%), from €45,286 to €22,771
- Trade debts -€6,880
down €6,880 (-83.9%), from €8,200 to €1,320
- Depreciation -€14,182
down €14,182 (-30.2%), from €46,991 to €32,809
- Financial income -€3,296
down €3,296 (-1.3%), from €253,316 to €250,020
- Taxes +€2,197
up €2,197 (+136%), from €1,611 to €3,808
- Gross operating margin -€806
down €806 (-1.5%), from €52,986 to €52,181
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €438,805 | €358,726 | -€80,079 | -18.2% |
| Fixed assets | 21/28 | €198,998 | €183,358 | -€15,639 | -7.9% |
| Tangible fixed assets | 22/27 | €98,998 | €83,358 | -€15,639 | -15.8% |
| Land and buildings | 22 | €4,017 | €2,699 | -€1,317 | -32.8% |
| Plant, machinery and equipment | 23 | €23,843 | €20,487 | -€3,356 | -14.1% |
| Furniture and vehicles | 24 | €71,138 | €60,172 | -€10,966 | -15.4% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €239,807 | €175,368 | -€64,439 | -26.9% |
| Amounts receivable within one year | 40/41 | €78,836 | €60,810 | -€18,026 | -22.9% |
| Trade receivables | 40 | €16,346 | €16,862 | +€516 | +3.2% |
| Other amounts receivable | 41 | €62,491 | €43,948 | -€18,543 | -29.7% |
| Current investments | 50/53 | - | €5,770 | +€5,770 | |
| Cash at bank and in hand | 54/58 | €154,858 | €102,912 | -€51,946 | -33.5% |
| Deferred charges and accrued income | 490/1 | €6,113 | €5,876 | -€237 | -3.9% |
| Total equity and liabilities | 10/49 | €438,805 | €358,726 | -€80,079 | -18.2% |
| Equity | 10/15 | €226,327 | €282,660 | +€56,333 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €207,727 | €264,060 | +€56,333 | +27.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €205,867 | €262,200 | +€56,333 | +27.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,478 | €76,067 | -€136,411 | -64.2% |
| Amounts payable after more than one year | 17 | €45,286 | €22,771 | -€22,516 | -49.7% |
| Financial debts | 170/4 | €45,286 | €22,771 | -€22,516 | -49.7% |
| Amounts payable within one year | 42/48 | €167,192 | €53,296 | -€113,896 | -68.1% |
| Current portion of amounts payable after more than one year | 42 | €26,240 | €22,516 | -€3,724 | -14.2% |
| Trade debts | 44 | €8,200 | €1,320 | -€6,880 | -83.9% |
| Suppliers | 440/4 | €8,200 | €1,320 | -€6,880 | -83.9% |
| Taxes, remuneration and social security | 45 | €27,649 | €4,555 | -€23,093 | -83.5% |
| Taxes | 450/3 | €27,649 | €4,555 | -€23,093 | -83.5% |
| Other amounts payable | 47/48 | €105,103 | €24,905 | -€80,198 | -76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,991 | €32,809 | -€14,182 | -30.2% |
| Other operating charges | 640/8 | €1,140 | €1,115 | -€25 | -2.2% |
| Gross operating margin | 9900 | €52,986 | €52,181 | -€806 | -1.5% |
| Operating profit (loss) | 9901 | €4,855 | €18,256 | +€13,401 | +276% |
| Financial income | 75/76B | €253,316 | €250,020 | -€3,296 | -1.3% |
| Recurring financial income | 75 | €253,316 | €250,020 | -€3,296 | -1.3% |
| Financial charges | 65/66B | €2,307 | €2,363 | +€56 | +2.4% |
| Recurring financial charges | 65 | €2,307 | €2,363 | +€56 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €255,863 | €265,912 | +€10,049 | +3.9% |
| Income taxes | 67/77 | €1,611 | €3,808 | +€2,197 | +136% |
| Profit (loss) for the period | 9904 | €254,252 | €262,104 | +€7,852 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €254,252 | €262,104 | +€7,852 | +3.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.