STEPHAN JANSSEN: what changed
STEPHAN JANSSEN
Largest movements
- Cash +€86,178
up €86,178 (+127%), from €67,938 to €154,115
mainly Net result for the year (+€121,209) and Depreciation (+€32,500)
- Tangible fixed assets -€32,500
down €32,500 (-3.2%), from €1.0m to €995,573
of which Land and buildings: -€32,174
- Receivables within one year +€26,143
up €26,143 (+3,557%), from €735 to €26,878
of which Trade receivables: +€26,143
- Reserves +€121,209
up €121,209 (+15.2%), from €798,814 to €920,023
- Other debts -€31,954
down €31,954 (-56.9%), from €56,157 to €24,203
- Gross operating margin +€5,012
up €5,012 (+2.5%), from €202,685 to €207,697
- Financial charges -€3,985
down €3,985 (-94.4%), from €4,223 to €239
- Taxes +€2,078
up €2,078 (+5.3%), from €39,321 to €41,399
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,102,155 | €1,182,520 | +€80,365 | +7.3% |
| Fixed assets | 21/28 | €1,028,074 | €995,573 | -€32,500 | -3.2% |
| Tangible fixed assets | 22/27 | €1,028,074 | €995,573 | -€32,500 | -3.2% |
| Land and buildings | 22 | €1,022,442 | €990,269 | -€32,174 | -3.1% |
| Furniture and vehicles | 24 | €631 | €304 | -€327 | -51.8% |
| Other tangible fixed assets | 26 | €5,001 | €5,001 | = | 0.0% |
| Current assets | 29/58 | €74,082 | €186,947 | +€112,865 | +152% |
| Amounts receivable within one year | 40/41 | €735 | €26,878 | +€26,143 | +3,557% |
| Trade receivables | 40 | - | €26,143 | +€26,143 | |
| Other amounts receivable | 41 | €735 | €735 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,938 | €154,115 | +€86,178 | +127% |
| Deferred charges and accrued income | 490/1 | €5,409 | €5,953 | +€544 | +10.1% |
| Total equity and liabilities | 10/49 | €1,102,155 | €1,182,520 | +€80,365 | +7.3% |
| Equity | 10/15 | €1,017,414 | €1,138,623 | +€121,209 | +11.9% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Reserves | 13 | €798,814 | €920,023 | +€121,209 | +15.2% |
| Distributable reserves | 133 | €798,814 | €920,023 | +€121,209 | +15.2% |
| Amounts payable | 17/49 | €84,742 | €43,897 | -€40,845 | -48.2% |
| Amounts payable within one year | 42/48 | €82,420 | €41,175 | -€41,244 | -50.0% |
| Trade debts | 44 | €366 | €280 | -€86 | -23.4% |
| Suppliers | 440/4 | €366 | €280 | -€86 | -23.4% |
| Taxes, remuneration and social security | 45 | €25,896 | €16,692 | -€9,204 | -35.5% |
| Taxes | 450/3 | €20,396 | €16,692 | -€3,704 | -18.2% |
| Remuneration and social security | 454/9 | €5,500 | €0 | -€5,500 | -100% |
| Other amounts payable | 47/48 | €56,157 | €24,203 | -€31,954 | -56.9% |
| Accrued charges and deferred income | 492/3 | €2,322 | €2,722 | +€400 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,500 | €32,500 | +€0 | 0.0% |
| Other operating charges | 640/8 | €11,905 | €12,350 | +€445 | +3.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €202,685 | €207,697 | +€5,012 | +2.5% |
| Operating profit (loss) | 9901 | €158,280 | €162,847 | +€4,567 | +2.9% |
| Financial charges | 65/66B | €4,223 | €239 | -€3,985 | -94.4% |
| Recurring financial charges | 65 | €4,223 | €239 | -€3,985 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €154,057 | €162,608 | +€8,551 | +5.6% |
| Income taxes | 67/77 | €39,321 | €41,399 | +€2,078 | +5.3% |
| Profit (loss) for the period | 9904 | €114,736 | €121,209 | +€6,474 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,736 | €121,209 | +€6,474 | +5.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.