'T IJSHOORNTJE: what changed
'T IJSHOORNTJE
Largest movements
- Cash +€49,514
up €49,514 (+41.9%), from €118,228 to €167,742
mainly Net result for the year (+€98,250) and Tax, wage and social debts (+€40,266)
- Tangible fixed assets +€26,682
up €26,682 (+19.1%), from €139,876 to €166,558
of which Plant, machinery and equipment: +€31,492
- Current investments +€20,064
up €20,064 (+21.0%), from €95,674 to €115,737
- Receivables within one year +€7,227
up €7,227 (+27.7%), from €26,052 to €33,280
of which Other amounts receivable: +€11,326
- Reserves +€79,306
up €79,306 (+34.7%), from €228,710 to €308,016
of which Distributable reserves: +€79,306
- Tax, wage and social debts +€40,266
up €40,266 (+331%), from €12,182 to €52,448
of which Taxes: +€39,626
- Other debts -€15,879
down €15,879 (-98.3%), from €16,153 to €273
- Debts after one year -€10,622
down €10,622 (-11.3%), from €94,241 to €83,619
- Advances received +€4,907
new in 2025: €4,907
- Gross operating margin +€86,311
up €86,311 (+66.2%), from €130,303 to €216,614
- Taxes +€32,473
up €32,473 (+212%), from €15,352 to €47,825
- Depreciation -€13,103
down €13,103 (-35.2%), from €37,203 to €24,100
- Financial income +€4,284
up €4,284 (+181%), from €2,366 to €6,649
- Staff costs +€2,266
up €2,266 (+7.0%), from €32,309 to €34,575
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 | €388,551 | €488,988 | +€100,437 | +25.8% |
| Fixed assets | 21/28 | €140,376 | €167,058 | +€26,682 | +19.0% |
| Tangible fixed assets | 22/27 | €139,876 | €166,558 | +€26,682 | +19.1% |
| Land and buildings | 22 | €11,538 | €17,515 | +€5,977 | +51.8% |
| Plant, machinery and equipment | 23 | €42,040 | €73,533 | +€31,492 | +74.9% |
| Leasing and similar rights | 25 | €86,297 | €75,510 | -€10,787 | -12.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €248,175 | €321,930 | +€73,754 | +29.7% |
| Stocks and contracts in progress | 3 | €5,625 | €1,095 | -€4,530 | -80.5% |
| Stocks | 30/36 | €5,625 | €1,095 | -€4,530 | -80.5% |
| Amounts receivable within one year | 40/41 | €26,052 | €33,280 | +€7,227 | +27.7% |
| Trade receivables | 40 | €25,777 | €21,678 | -€4,099 | -15.9% |
| Other amounts receivable | 41 | €276 | €11,601 | +€11,326 | +4,110% |
| Current investments | 50/53 | €95,674 | €115,737 | +€20,064 | +21.0% |
| Cash at bank and in hand | 54/58 | €118,228 | €167,742 | +€49,514 | +41.9% |
| Deferred charges and accrued income | 490/1 | €2,596 | €4,076 | +€1,480 | +57.0% |
| Total equity and liabilities | 10/49 | €388,551 | €488,988 | +€100,437 | +25.8% |
| Equity | 10/15 | €234,910 | €314,216 | +€79,306 | +33.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €228,710 | €308,016 | +€79,306 | +34.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €209,960 | €289,266 | +€79,306 | +37.8% |
| Amounts payable | 17/49 | €153,641 | €174,772 | +€21,131 | +13.8% |
| Amounts payable after more than one year | 17 | €94,241 | €83,619 | -€10,622 | -11.3% |
| Financial debts | 170/4 | €94,241 | €83,619 | -€10,622 | -11.3% |
| Amounts payable within one year | 42/48 | €58,400 | €90,153 | +€31,753 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €10,216 | €10,622 | +€406 | +4.0% |
| Financial debts | 43 | €2,195 | €2,181 | -€14 | -0.6% |
| Credit institutions | 430/8 | €2,195 | €2,181 | -€14 | -0.6% |
| Trade debts | 44 | €17,655 | €19,722 | +€2,067 | +11.7% |
| Suppliers | 440/4 | €17,655 | €19,722 | +€2,067 | +11.7% |
| Advances received on contracts in progress | 46 | - | €4,907 | +€4,907 | |
| Taxes, remuneration and social security | 45 | €12,182 | €52,448 | +€40,266 | +331% |
| Taxes | 450/3 | €7,494 | €47,120 | +€39,626 | +529% |
| Remuneration and social security | 454/9 | €4,688 | €5,328 | +€640 | +13.7% |
| Other amounts payable | 47/48 | €16,153 | €273 | -€15,879 | -98.3% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | €5,362 | - | -€5,362 | |
| Remuneration, social security and pensions | 62 | €32,309 | €34,575 | +€2,266 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,203 | €24,100 | -€13,103 | -35.2% |
| Other operating charges | 640/8 | €8,445 | €8,117 | -€328 | -3.9% |
| Gross operating margin | 9900 | €130,303 | €216,614 | +€86,311 | +66.2% |
| Operating profit (loss) | 9901 | €52,346 | €149,821 | +€97,475 | +186% |
| Financial income | 75/76B | €2,366 | €6,649 | +€4,284 | +181% |
| Recurring financial income | 75 | €2,366 | €6,649 | +€4,284 | +181% |
| Financial charges | 65/66B | €9,254 | €10,396 | +€1,142 | +12.3% |
| Recurring financial charges | 65 | €9,254 | €10,396 | +€1,142 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €45,457 | €146,074 | +€100,617 | +221% |
| Income taxes | 67/77 | €15,352 | €47,825 | +€32,473 | +212% |
| Profit (loss) for the period | 9904 | €30,105 | €98,250 | +€68,144 | +226% |
| Profit (loss) for the period to be appropriated | 9905 | €30,105 | €98,250 | +€68,144 | +226% |
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 4 November 2026 via checked.be.