Pierre JONGEN: 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.
Pierre JONGEN
Largest movements
- Receivables within one year +€148,598
up €148,598 (+136%), from €109,055 to €257,653
of which Other amounts receivable: +€93,607
- Cash -€93,242
down €93,242 (-46.8%), from €199,051 to €105,809
mainly Receivables within one year (-€148,598) and Contributions, distributions and other (-€45,000)
- Tangible fixed assets -€52,449
down €52,449 (-16.5%), from €317,823 to €265,374
of which Plant, machinery and equipment: -€27,775
- Deferred charges and accrued income -€30,000
down €30,000 (-100%), from €30,000 to €0
- Reserves +€50,000
up €50,000 (+18.1%), from €276,800 to €326,800
of which Distributable reserves: +€50,000
- Debts after one year -€29,466
down €29,466 (-28.4%), from €103,878 to €74,412
- Trade debts -€28,320
down €28,320 (-60.7%), from €46,641 to €18,321
- Tax, wage and social debts -€20,746
down €20,746 (-17.8%), from €116,287 to €95,541
- Gross operating margin -€69,681
down €69,681 (-25.5%), from €273,751 to €204,070
- Taxes -€25,307
down €25,307 (-33.4%), from €75,817 to €50,510
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 | €659,282 | €631,398 | -€27,884 | -4.2% |
| Fixed assets | 21/28 | €321,176 | €267,936 | -€53,241 | -16.6% |
| Intangible fixed assets | 21 | €3,353 | €2,561 | -€792 | -23.6% |
| Tangible fixed assets | 22/27 | €317,823 | €265,374 | -€52,449 | -16.5% |
| Plant, machinery and equipment | 23 | €231,830 | €204,055 | -€27,775 | -12.0% |
| Furniture and vehicles | 24 | €75,286 | €53,083 | -€22,203 | -29.5% |
| Other tangible fixed assets | 26 | €10,707 | €8,236 | -€2,471 | -23.1% |
| Current assets | 29/58 | €338,106 | €363,463 | +€25,357 | +7.5% |
| Amounts receivable within one year | 40/41 | €109,055 | €257,653 | +€148,598 | +136% |
| Trade receivables | 40 | €109,055 | €164,046 | +€54,991 | +50.4% |
| Other amounts receivable | 41 | - | €93,607 | +€93,607 | |
| Cash at bank and in hand | 54/58 | €199,051 | €105,809 | -€93,242 | -46.8% |
| Deferred charges and accrued income | 490/1 | €30,000 | €0 | -€30,000 | -100% |
| Total equity and liabilities | 10/49 | €659,282 | €631,398 | -€27,884 | -4.2% |
| Equity | 10/15 | €359,799 | €411,264 | +€51,465 | +14.3% |
| Contributions | 10/11 | €30,550 | €30,550 | = | 0.0% |
| Reserves | 13 | €276,800 | €326,800 | +€50,000 | +18.1% |
| Tax-exempt reserves | 132 | €16,800 | €16,800 | = | 0.0% |
| Distributable reserves | 133 | €260,000 | €310,000 | +€50,000 | +19.2% |
| Profit (loss) carried forward | 14 | €52,449 | €53,914 | +€1,465 | +2.8% |
| Amounts payable | 17/49 | €299,483 | €220,134 | -€79,349 | -26.5% |
| Amounts payable after more than one year | 17 | €103,878 | €74,412 | -€29,466 | -28.4% |
| Financial debts | 170/4 | €103,878 | €74,412 | -€29,466 | -28.4% |
| Amounts payable within one year | 42/48 | €195,605 | €145,721 | -€49,884 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €30,390 | €31,859 | +€1,469 | +4.8% |
| Trade debts | 44 | €46,641 | €18,321 | -€28,320 | -60.7% |
| Suppliers | 440/4 | €46,641 | €18,321 | -€28,320 | -60.7% |
| Taxes, remuneration and social security | 45 | €116,287 | €95,541 | -€20,746 | -17.8% |
| Taxes | 450/3 | €116,287 | €95,541 | -€20,746 | -17.8% |
| Other amounts payable | 47/48 | €2,287 | €0 | -€2,287 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,636 | €53,241 | +€605 | +1.1% |
| Other operating charges | 640/8 | €867 | €382 | -€486 | -56.0% |
| Gross operating margin | 9900 | €273,751 | €204,070 | -€69,681 | -25.5% |
| Operating profit (loss) | 9901 | €220,248 | €150,448 | -€69,800 | -31.7% |
| Financial income | 75/76B | €762 | €2,536 | +€1,775 | +233% |
| Recurring financial income | 75 | €762 | €2,536 | +€1,775 | +233% |
| Financial charges | 65/66B | €4,760 | €6,009 | +€1,249 | +26.2% |
| Recurring financial charges | 65 | €4,760 | €6,009 | +€1,249 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €216,250 | €146,975 | -€69,274 | -32.0% |
| Income taxes | 67/77 | €75,817 | €50,510 | -€25,307 | -33.4% |
| Profit (loss) for the period | 9904 | €140,433 | €96,465 | -€43,968 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €140,433 | €96,465 | -€43,968 | -31.3% |
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 23 October 2026 via checked.be.