Ralph 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.
Ralph Janssen
Largest movements
- Cash +€76,605
up €76,605 (+219%), from €34,916 to €111,521
mainly Net result for the year (+€71,169) and Receivables within one year (+€17,223)
- Receivables within one year -€17,223
down €17,223 (-71.4%), from €24,113 to €6,890
of which Trade receivables: -€23,266
- Tangible fixed assets -€1,602
down €1,602 (-15.2%), from €10,540 to €8,938
of which Plant, machinery and equipment: -€2,633
- Profit (loss) carried forward +€29,422
new in 2025: €29,422
- Reserves +€26,747
up €26,747 (+87.5%), from €30,574 to €57,320
- Other debts +€10,880
up €10,880 (+971%), from €1,120 to €12,000
- Tax, wage and social debts -€8,168
down €8,168 (-43.7%), from €18,695 to €10,527
of which Taxes: -€8,182
- Accrued charges and deferred income -€1,315
down €1,315 (-32.8%), from €4,015 to €2,700
- Gross operating margin +€52,217
up €52,217 (+107%), from €48,836 to €101,053
- Taxes +€9,790
up €9,790 (+74.5%), from €13,137 to €22,927
- Financial charges +€1,037
up €1,037 (+38.9%), from €2,667 to €3,704
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 | €69,569 | €127,349 | +€57,780 | +83.1% |
| Fixed assets | 21/28 | €10,540 | €8,938 | -€1,602 | -15.2% |
| Tangible fixed assets | 22/27 | €10,540 | €8,938 | -€1,602 | -15.2% |
| Plant, machinery and equipment | 23 | €10,540 | €7,907 | -€2,633 | -25.0% |
| Other tangible fixed assets | 26 | - | €1,031 | +€1,031 | |
| Current assets | 29/58 | €59,029 | €118,411 | +€59,382 | +101% |
| Amounts receivable within one year | 40/41 | €24,113 | €6,890 | -€17,223 | -71.4% |
| Trade receivables | 40 | €23,266 | - | -€23,266 | |
| Other amounts receivable | 41 | €846 | €6,890 | +€6,044 | +714% |
| Cash at bank and in hand | 54/58 | €34,916 | €111,521 | +€76,605 | +219% |
| Total equity and liabilities | 10/49 | €69,569 | €127,349 | +€57,780 | +83.1% |
| Equity | 10/15 | €45,574 | €101,742 | +€56,169 | +123% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €30,574 | €57,320 | +€26,747 | +87.5% |
| Distributable reserves | 133 | €30,574 | €57,320 | +€26,747 | +87.5% |
| Profit (loss) carried forward | 14 | - | €29,422 | +€29,422 | |
| Amounts payable | 17/49 | €23,995 | €25,607 | +€1,612 | +6.7% |
| Amounts payable within one year | 42/48 | €19,980 | €22,907 | +€2,927 | +14.6% |
| Trade debts | 44 | €166 | €380 | +€214 | +129% |
| Suppliers | 440/4 | €166 | €380 | +€214 | +129% |
| Taxes, remuneration and social security | 45 | €18,695 | €10,527 | -€8,168 | -43.7% |
| Taxes | 450/3 | €18,695 | €10,513 | -€8,182 | -43.8% |
| Remuneration and social security | 454/9 | - | €14 | +€14 | |
| Other amounts payable | 47/48 | €1,120 | €12,000 | +€10,880 | +971% |
| Accrued charges and deferred income | 492/3 | €4,015 | €2,700 | -€1,315 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,267 | €2,870 | +€603 | +26.6% |
| Other operating charges | 640/8 | €63 | €390 | +€326 | +514% |
| Gross operating margin | 9900 | €48,836 | €101,053 | +€52,217 | +107% |
| Operating profit (loss) | 9901 | €46,505 | €97,793 | +€51,288 | +110% |
| Financial income | 75/76B | €0 | €6 | +€6 | +15,450% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +15,450% |
| Financial charges | 65/66B | €2,667 | €3,704 | +€1,037 | +38.9% |
| Recurring financial charges | 65 | €2,667 | €3,704 | +€1,037 | +38.9% |
| Profit (loss) for the period before taxes | 9903 | €43,838 | €94,095 | +€50,257 | +115% |
| Income taxes | 67/77 | €13,137 | €22,927 | +€9,790 | +74.5% |
| Profit (loss) for the period | 9904 | €30,701 | €71,169 | +€40,467 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €30,701 | €71,169 | +€40,467 | +132% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.