OLIVIER JONAS: 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.
OLIVIER JONAS
Largest movements
- Tangible fixed assets +€11,109
up €11,109 (+3.6%), from €305,990 to €317,099
of which Land and buildings: +€5,879
- Cash +€10,389
up €10,389 (+28.8%), from €36,064 to €46,454
mainly Debts after one year (+€24,567) and Current portion of long-term debt (+€23,056)
- Receivables within one year +€5,440
up €5,440 (+100%), from €5,420 to €10,860
- Debts after one year +€24,567
up €24,567 (+6.9%), from €357,660 to €382,227
- Current portion of long-term debt +€23,056
new in 2025: €23,056
- Trade debts -€21,233
down €21,233 (-96.1%), from €22,086 to €853
- Depreciation -€33,063
down €33,063 (-72.8%), from €45,445 to €12,381
- Gross operating margin +€21,213
up €21,213 (+517%), from €4,103 to €25,316
- Financial charges +€11,204
up €11,204 (+260%), from €4,305 to €15,509
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 | €348,680 | €375,558 | +€26,878 | +7.7% |
| Fixed assets | 21/28 | €305,990 | €317,099 | +€11,109 | +3.6% |
| Tangible fixed assets | 22/27 | €305,990 | €317,099 | +€11,109 | +3.6% |
| Land and buildings | 22 | €305,990 | €311,869 | +€5,879 | +1.9% |
| Plant, machinery and equipment | 23 | - | €5,230 | +€5,230 | |
| Current assets | 29/58 | €42,691 | €58,459 | +€15,768 | +36.9% |
| Amounts receivable within one year | 40/41 | €5,420 | €10,860 | +€5,440 | +100% |
| Trade receivables | 40 | €5,420 | €10,860 | +€5,440 | +100% |
| Cash at bank and in hand | 54/58 | €36,064 | €46,454 | +€10,389 | +28.8% |
| Deferred charges and accrued income | 490/1 | €1,206 | €1,145 | -€61 | -5.0% |
| Total equity and liabilities | 10/49 | €348,680 | €375,558 | +€26,878 | +7.7% |
| Equity | 10/15 | -€31,176 | -€34,219 | -€3,043 | -9.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,176 | -€49,219 | -€3,043 | -6.6% |
| Amounts payable | 17/49 | €379,856 | €409,777 | +€29,920 | +7.9% |
| Amounts payable after more than one year | 17 | €357,660 | €382,227 | +€24,567 | +6.9% |
| Financial debts | 170/4 | €357,660 | €382,227 | +€24,567 | +6.9% |
| Amounts payable within one year | 42/48 | €22,196 | €26,800 | +€4,604 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | - | €23,056 | +€23,056 | |
| Trade debts | 44 | €22,086 | €853 | -€21,233 | -96.1% |
| Suppliers | 440/4 | €22,086 | €853 | -€21,233 | -96.1% |
| Taxes, remuneration and social security | 45 | €56 | €2,266 | +€2,210 | +3,912% |
| Taxes | 450/3 | €56 | €2,266 | +€2,210 | +3,912% |
| Other amounts payable | 47/48 | €54 | €624 | +€571 | +1,065% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,445 | €12,381 | -€33,063 | -72.8% |
| Other operating charges | 640/8 | €473 | €266 | -€207 | -43.8% |
| Gross operating margin | 9900 | €4,103 | €25,316 | +€21,213 | +517% |
| Operating profit (loss) | 9901 | -€41,814 | €12,669 | +€54,483 | |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €4,305 | €15,509 | +€11,204 | +260% |
| Recurring financial charges | 65 | €4,305 | €15,509 | +€11,204 | +260% |
| Profit (loss) for the period before taxes | 9903 | -€46,119 | -€2,833 | +€43,287 | +93.9% |
| Income taxes | 67/77 | €56 | €210 | +€153 | +272% |
| Profit (loss) for the period | 9904 | -€46,176 | -€3,043 | +€43,133 | +93.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,176 | -€3,043 | +€43,133 | +93.4% |
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 27 October 2026 via checked.be.