STEPHAN JANSSENS: what changed
STEPHAN JANSSENS
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€89,934
up €89,934 (+103%), from €87,730 to €177,664
mainly Net result for the year (+€145,908) and Current investments (+€100,000)
- Receivables within one year +€29,104
up €29,104 (+103%), from €28,321 to €57,425
of which Other amounts receivable: +€33,597
- Deferred charges and accrued income -€3,965
down €3,965 (-77.9%), from €5,091 to €1,126
- Other debts +€92,789
up €92,789 (+82.2%), from €112,910 to €205,698
- Reserves -€59,791
down €59,791 (-83.1%), from €71,940 to €12,149
of which Distributable reserves: -€59,791
- Tax, wage and social debts -€11,649
down €11,649 (-38.9%), from €29,933 to €18,285
of which Taxes: -€11,649
- Trade debts -€7,139
down €7,139 (-89.8%), from €7,952 to €813
- Gross operating margin +€51,867
up €51,867 (+38.1%), from €136,186 to €188,053
- Taxes +€12,775
up €12,775 (+41.7%), from €30,605 to €43,380
- Financial income +€2,520
up €2,520 (+175%), from €1,441 to €3,961
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 | €242,647 | €256,858 | +€14,210 | +5.9% |
| Fixed assets | 21/28 | €21,505 | €20,642 | -€863 | -4.0% |
| Tangible fixed assets | 22/27 | €21,505 | €20,642 | -€863 | -4.0% |
| Land and buildings | 22 | €20,946 | €19,346 | -€1,600 | -7.6% |
| Plant, machinery and equipment | 23 | €144 | €74 | -€71 | -48.9% |
| Furniture and vehicles | 24 | €415 | €1,223 | +€808 | +195% |
| Current assets | 29/58 | €221,142 | €236,215 | +€15,073 | +6.8% |
| Amounts receivable within one year | 40/41 | €28,321 | €57,425 | +€29,104 | +103% |
| Trade receivables | 40 | €28,284 | €23,790 | -€4,494 | -15.9% |
| Other amounts receivable | 41 | €38 | €33,635 | +€33,597 | +89,071% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €87,730 | €177,664 | +€89,934 | +103% |
| Deferred charges and accrued income | 490/1 | €5,091 | €1,126 | -€3,965 | -77.9% |
| Total equity and liabilities | 10/49 | €242,647 | €256,858 | +€14,210 | +5.9% |
| Equity | 10/15 | €91,852 | €32,062 | -€59,791 | -65.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,313 | €1,313 | = | 0.0% |
| Reserves | 13 | €71,940 | €12,149 | -€59,791 | -83.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,080 | €10,289 | -€59,791 | -85.3% |
| Amounts payable | 17/49 | €150,795 | €224,796 | +€74,001 | +49.1% |
| Amounts payable within one year | 42/48 | €150,795 | €224,796 | +€74,001 | +49.1% |
| Trade debts | 44 | €7,952 | €813 | -€7,139 | -89.8% |
| Suppliers | 440/4 | €7,952 | €813 | -€7,139 | -89.8% |
| Taxes, remuneration and social security | 45 | €29,933 | €18,285 | -€11,649 | -38.9% |
| Taxes | 450/3 | €27,666 | €16,018 | -€11,649 | -42.1% |
| Remuneration and social security | 454/9 | €2,267 | €2,267 | = | 0.0% |
| Other amounts payable | 47/48 | €112,910 | €205,698 | +€92,789 | +82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,830 | €1,989 | +€159 | +8.7% |
| Other operating charges | 640/8 | €661 | €735 | +€74 | +11.2% |
| Gross operating margin | 9900 | €136,186 | €188,053 | +€51,867 | +38.1% |
| Operating profit (loss) | 9901 | €133,694 | €185,329 | +€51,634 | +38.6% |
| Financial income | 75/76B | €1,441 | €3,961 | +€2,520 | +175% |
| Recurring financial income | 75 | €1,441 | €3,961 | +€2,520 | +175% |
| Financial charges | 65/66B | €69 | €3 | -€66 | -96.3% |
| Recurring financial charges | 65 | €69 | €3 | -€66 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | €135,067 | €189,287 | +€54,221 | +40.1% |
| Income taxes | 67/77 | €30,605 | €43,380 | +€12,775 | +41.7% |
| Profit (loss) for the period | 9904 | €104,462 | €145,908 | +€41,446 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €104,462 | €145,908 | +€41,446 | +39.7% |
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 2 November 2026 via checked.be.