STEF JOCHEMS: what changed
Two fiscal 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.
STEF JOCHEMS
Largest movements
- Receivables within one year +€88,755
up €88,755 (+295.1%), from €30,081 to €118,835
of which Other amounts receivable: +€85,672
- Stocks and contracts -€44,944
no longer reported in 2025 (was €44,944)
- Cash -€11,179
down €11,179 (-12.8%), from €87,409 to €76,230
mainly Receivables within one year (-€88,755) and Trade debts (-€22,304)
- Tangible fixed assets -€10,035
down €10,035 (-21.0%), from €47,675 to €37,640
of which Furniture and vehicles: -€7,408
- Profit (loss) carried forward +€47,420
up €47,420 (+2107555.6%), from €2 to €47,422
- Trade debts -€22,304
down €22,304 (-71.7%), from €31,101 to €8,797
- Tax, wage and social debts -€7,179
down €7,179 (-26.1%), from €27,521 to €20,342
of which Taxes: -€7,203
- Other debts +€2,665
up €2,665 (+3.0%), from €90,006 to €92,672
- Gross operating margin -€8,529
down €8,529 (-10.4%), from €81,756 to €73,228
- Taxes -€6,734
down €6,734 (-35.1%), from €19,171 to €12,437
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.
Cash bridge derived
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 | €215,789 | €238,390 | +€22,601 | +10.5% |
| Fixed assets | 21/28 | €47,675 | €37,640 | -€10,035 | -21.0% |
| Tangible fixed assets | 22/27 | €47,675 | €37,640 | -€10,035 | -21.0% |
| Plant, machinery and equipment | 23 | €7,325 | €4,698 | -€2,627 | -35.9% |
| Furniture and vehicles | 24 | €40,350 | €32,942 | -€7,408 | -18.4% |
| Current assets | 29/58 | €168,115 | €200,750 | +€32,636 | +19.4% |
| Stocks and contracts in progress | 3 | €44,944 | - | -€44,944 | |
| Stocks | 30/36 | €44,944 | - | -€44,944 | |
| Amounts receivable within one year | 40/41 | €30,081 | €118,835 | +€88,755 | +295.1% |
| Trade receivables | 40 | €29,393 | €32,475 | +€3,082 | +10.5% |
| Other amounts receivable | 41 | €688 | €86,360 | +€85,672 | +12451.8% |
| Cash at bank and in hand | 54/58 | €87,409 | €76,230 | -€11,179 | -12.8% |
| Deferred charges and accrued income | 490/1 | €5,681 | €5,685 | +€4 | +0.1% |
| Total equity and liabilities | 10/49 | €215,789 | €238,390 | +€22,601 | +10.5% |
| Equity | 10/15 | €67,161 | €114,581 | +€47,420 | +70.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,159 | €64,159 | = | 0.0% |
| Distributable reserves | 133 | €64,159 | €64,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2 | €47,422 | +€47,420 | +2107555.6% |
| Amounts payable | 17/49 | €148,628 | €123,809 | -€24,819 | -16.7% |
| Amounts payable within one year | 42/48 | €148,628 | €121,810 | -€26,818 | -18.0% |
| Trade debts | 44 | €31,101 | €8,797 | -€22,304 | -71.7% |
| Suppliers | 440/4 | €31,101 | €8,797 | -€22,304 | -71.7% |
| Taxes, remuneration and social security | 45 | €27,521 | €20,342 | -€7,179 | -26.1% |
| Taxes | 450/3 | €24,921 | €17,718 | -€7,203 | -28.9% |
| Remuneration and social security | 454/9 | €2,600 | €2,624 | +€24 | +0.9% |
| Other amounts payable | 47/48 | €90,006 | €92,672 | +€2,665 | +3.0% |
| Accrued charges and deferred income | 492/3 | - | €1,999 | +€1,999 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,462 | €14,051 | +€589 | +4.4% |
| Other operating charges | 640/8 | €118 | €220 | +€102 | +86.4% |
| Gross operating margin | 9900 | €81,756 | €73,228 | -€8,529 | -10.4% |
| Operating profit (loss) | 9901 | €68,176 | €58,957 | -€9,219 | -13.5% |
| Financial income | 75/76B | €354 | €918 | +€564 | +159.6% |
| Recurring financial income | 75 | €354 | €918 | +€564 | +159.6% |
| Financial charges | 65/66B | €9 | €18 | +€9 | +99.4% |
| Recurring financial charges | 65 | €9 | €18 | +€9 | +99.4% |
| Profit (loss) for the period before taxes | 9903 | €68,521 | €59,857 | -€8,664 | -12.6% |
| Income taxes | 67/77 | €19,171 | €12,437 | -€6,734 | -35.1% |
| Profit (loss) for the period | 9904 | €49,350 | €47,420 | -€1,930 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,350 | €47,420 | -€1,930 | -3.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.