T'SJOEN JONATHAN: 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.
T'SJOEN JONATHAN
Largest movements
- Cash +€293,378
up €293,378 (+172%), from €170,380 to €463,758
mainly Other debts (+€431,661) and Net result for the year (+€176,567)
- Tangible fixed assets -€175,664
down €175,664 (-16.1%), from €1.1m to €915,525
of which Other tangible fixed assets: -€196,828
- Current investments -€100,000
down €100,000 (-24.0%), from €417,205 to €317,205
- Deferred charges and accrued income +€35,996
up €35,996 (+124%), from €28,936 to €64,932
- Other debts +€431,661
up €431,661 (+414%), from €104,146 to €535,807
- Reserves -€359,229
down €359,229 (-31.7%), from €1.1m to €773,143
of which Distributable reserves: -€359,229
- Debts after one year -€49,609
down €49,609 (-27.2%), from €182,058 to €132,448
- Tax, wage and social debts +€36,999
up €36,999 (+77.9%), from €47,480 to €84,480
of which Taxes: +€33,424
- Gross operating margin +€87,531
up €87,531 (+15.2%), from €577,649 to €665,180
- Staff costs +€50,885
up €50,885 (+34.1%), from €149,014 to €199,899
- Taxes +€47,215
up €47,215 (+53.3%), from €88,639 to €135,854
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 | €1,719,084 | €1,768,893 | +€49,809 | +2.9% |
| Fixed assets | 21/28 | €1,091,189 | €915,525 | -€175,664 | -16.1% |
| Tangible fixed assets | 22/27 | €1,091,189 | €915,525 | -€175,664 | -16.1% |
| Land and buildings | 22 | €577,819 | €696,585 | +€118,766 | +20.6% |
| Plant, machinery and equipment | 23 | €49,441 | €0 | -€49,441 | -100% |
| Furniture and vehicles | 24 | €213,994 | €165,834 | -€48,160 | -22.5% |
| Other tangible fixed assets | 26 | €249,935 | €53,106 | -€196,828 | -78.8% |
| Current assets | 29/58 | €627,894 | €853,368 | +€225,474 | +35.9% |
| Stocks and contracts in progress | 3 | €2,246 | €0 | -€2,246 | -100% |
| Stocks | 30/36 | €2,246 | €0 | -€2,246 | -100% |
| Amounts receivable within one year | 40/41 | €9,127 | €7,473 | -€1,654 | -18.1% |
| Trade receivables | 40 | €2,179 | €0 | -€2,179 | -100% |
| Other amounts receivable | 41 | €6,948 | €7,473 | +€525 | +7.6% |
| Current investments | 50/53 | €417,205 | €317,205 | -€100,000 | -24.0% |
| Cash at bank and in hand | 54/58 | €170,380 | €463,758 | +€293,378 | +172% |
| Deferred charges and accrued income | 490/1 | €28,936 | €64,932 | +€35,996 | +124% |
| Total equity and liabilities | 10/49 | €1,719,084 | €1,768,893 | +€49,809 | +2.9% |
| Equity | 10/15 | €1,304,222 | €944,993 | -€359,229 | -27.5% |
| Contributions | 10/11 | €171,850 | €171,850 | = | 0.0% |
| Reserves | 13 | €1,132,372 | €773,143 | -€359,229 | -31.7% |
| Tax-exempt reserves | 132 | €14,714 | €14,714 | = | 0.0% |
| Distributable reserves | 133 | €1,117,658 | €758,429 | -€359,229 | -32.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €414,862 | €823,900 | +€409,038 | +98.6% |
| Amounts payable after more than one year | 17 | €182,058 | €132,448 | -€49,609 | -27.2% |
| Financial debts | 170/4 | €182,058 | €132,448 | -€49,609 | -27.2% |
| Amounts payable within one year | 42/48 | €232,804 | €691,452 | +€458,648 | +197% |
| Current portion of amounts payable after more than one year | 42 | €59,531 | €48,407 | -€11,124 | -18.7% |
| Financial debts | 43 | €12,686 | €12,732 | +€46 | +0.4% |
| Credit institutions | 430/8 | €12,666 | €12,732 | +€66 | +0.5% |
| Other loans | 439 | €20 | €0 | -€20 | -100% |
| Trade debts | 44 | €8,961 | €10,026 | +€1,065 | +11.9% |
| Suppliers | 440/4 | €8,961 | €10,026 | +€1,065 | +11.9% |
| Taxes, remuneration and social security | 45 | €47,480 | €84,480 | +€36,999 | +77.9% |
| Taxes | 450/3 | €25,776 | €59,199 | +€33,424 | +130% |
| Remuneration and social security | 454/9 | €21,704 | €25,280 | +€3,576 | +16.5% |
| Other amounts payable | 47/48 | €104,146 | €535,807 | +€431,661 | +414% |
| Non-recurring operating income | 76A | €25,000 | €70,606 | +€45,606 | +182% |
| Remuneration, social security and pensions | 62 | €149,014 | €199,899 | +€50,885 | +34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,616 | €149,794 | +€2,178 | +1.5% |
| Other operating charges | 640/8 | €12,943 | €9,125 | -€3,818 | -29.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €577,649 | €665,180 | +€87,531 | +15.2% |
| Operating profit (loss) | 9901 | €268,076 | €306,361 | +€38,286 | +14.3% |
| Financial income | 75/76B | €11,286 | €13,045 | +€1,758 | +15.6% |
| Recurring financial income | 75 | €11,286 | €13,045 | +€1,758 | +15.6% |
| Financial charges | 65/66B | €6,472 | €6,984 | +€512 | +7.9% |
| Recurring financial charges | 65 | €6,472 | €6,984 | +€512 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €272,890 | €312,422 | +€39,532 | +14.5% |
| Income taxes | 67/77 | €88,639 | €135,854 | +€47,215 | +53.3% |
| Profit (loss) for the period | 9904 | €184,250 | €176,567 | -€7,683 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €184,250 | €176,567 | -€7,683 | -4.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.