Peter JANSSEN: 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.
Peter JANSSEN
Largest movements
- Tangible fixed assets -€50,737
down €50,737 (-21.5%), from €236,324 to €185,588
of which Furniture and vehicles: -€26,728
- Cash +€30,551
up €30,551 (+114%), from €26,707 to €57,258
mainly Depreciation (+€52,865) and Receivables within one year (+€23,928)
- Receivables within one year -€23,928
down €23,928 (-63.0%), from €37,958 to €14,029
of which Trade receivables: -€22,250
- Debts after one year -€16,807
down €16,807 (-14.1%), from €118,918 to €102,111
- Other debts -€16,797
down €16,797 (-79.8%), from €21,059 to €4,262
- Current portion of long-term debt -€11,758
down €11,758 (-39.3%), from €29,910 to €18,152
- Reserves +€10,769
up €10,769 (+5.5%), from €194,759 to €205,528
- Short-term financial debts -€10,258
down €10,258 (-97.6%), from €10,507 to €249
- Gross operating margin -€22,254
down €22,254 (-22.4%), from €99,380 to €77,126
- Taxes -€8,280
down €8,280 (-62.4%), from €13,278 to €4,998
- Depreciation +€8,159
up €8,159 (+18.3%), from €44,706 to €52,865
- Financial income +€1,813
up €1,813 (+814%), from €223 to €2,036
- Other operating charges +€999
up €999 (+24.4%), from €4,096 to €5,095
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 | €393,752 | €349,445 | -€44,307 | -11.3% |
| Fixed assets | 21/28 | €236,324 | €185,588 | -€50,737 | -21.5% |
| Tangible fixed assets | 22/27 | €236,324 | €185,588 | -€50,737 | -21.5% |
| Land and buildings | 22 | €177,612 | €157,872 | -€19,740 | -11.1% |
| Plant, machinery and equipment | 23 | €10,973 | €11,349 | +€376 | +3.4% |
| Furniture and vehicles | 24 | €30,890 | €4,162 | -€26,728 | -86.5% |
| Other tangible fixed assets | 26 | €16,850 | €12,205 | -€4,644 | -27.6% |
| Current assets | 29/58 | €157,428 | €163,857 | +€6,429 | +4.1% |
| Amounts receivable within one year | 40/41 | €37,958 | €14,029 | -€23,928 | -63.0% |
| Trade receivables | 40 | €31,378 | €9,128 | -€22,250 | -70.9% |
| Other amounts receivable | 41 | €6,580 | €4,902 | -€1,678 | -25.5% |
| Current investments | 50/53 | €91,398 | €91,398 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,707 | €57,258 | +€30,551 | +114% |
| Deferred charges and accrued income | 490/1 | €1,365 | €1,172 | -€193 | -14.2% |
| Total equity and liabilities | 10/49 | €393,752 | €349,445 | -€44,307 | -11.3% |
| Equity | 10/15 | €213,359 | €224,128 | +€10,769 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,759 | €205,528 | +€10,769 | +5.5% |
| Distributable reserves | 133 | €194,759 | €205,528 | +€10,769 | +5.5% |
| Amounts payable | 17/49 | €180,394 | €125,317 | -€55,077 | -30.5% |
| Amounts payable after more than one year | 17 | €118,918 | €102,111 | -€16,807 | -14.1% |
| Financial debts | 170/4 | €118,918 | €102,111 | -€16,807 | -14.1% |
| Amounts payable within one year | 42/48 | €61,476 | €23,206 | -€38,270 | -62.3% |
| Current portion of amounts payable after more than one year | 42 | €29,910 | €18,152 | -€11,758 | -39.3% |
| Financial debts | 43 | €10,507 | €249 | -€10,258 | -97.6% |
| Credit institutions | 430/8 | €10,507 | €249 | -€10,258 | -97.6% |
| Trade debts | 44 | €0 | €543 | +€543 | |
| Suppliers | 440/4 | €0 | €543 | +€543 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,059 | €4,262 | -€16,797 | -79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,706 | €52,865 | +€8,159 | +18.3% |
| Other operating charges | 640/8 | €4,096 | €5,095 | +€999 | +24.4% |
| Gross operating margin | 9900 | €99,380 | €77,126 | -€22,254 | -22.4% |
| Operating profit (loss) | 9901 | €50,578 | €19,166 | -€31,412 | -62.1% |
| Financial income | 75/76B | €223 | €2,036 | +€1,813 | +814% |
| Recurring financial income | 75 | €223 | €2,036 | +€1,813 | +814% |
| Financial charges | 65/66B | €5,338 | €5,435 | +€97 | +1.8% |
| Recurring financial charges | 65 | €5,338 | €5,435 | +€97 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €45,463 | €15,767 | -€29,696 | -65.3% |
| Income taxes | 67/77 | €13,278 | €4,998 | -€8,280 | -62.4% |
| Profit (loss) for the period | 9904 | €32,185 | €10,769 | -€21,416 | -66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,185 | €10,769 | -€21,416 | -66.5% |
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.