TED JORDAN: 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.
TED JORDAN
Largest movements
- Receivables within one year +€280,309
up €280,309 (+268.2%), from €104,512 to €384,822
of which Other amounts receivable: +€172,990
- Cash +€191,368
up €191,368 (+661.8%), from €28,918 to €220,286
mainly Trade debts (+€291,059) and Other debts (+€103,786)
- Deferred charges and accrued income +€76,907
up €76,907 (+1346.5%), from €5,712 to €82,619
- Intangible fixed assets +€36,649
up €36,649 (+119.1%), from €30,766 to €67,415
- Tangible fixed assets -€10,010
down €10,010 (-31.2%), from €32,063 to €22,054
of which Furniture and vehicles: -€9,800
- Trade debts +€291,059
up €291,059 (+999.3%), from €29,126 to €320,185
- Reserves +€158,112
up €158,112 (+332.2%), from €47,600 to €205,712
- Other debts +€103,786
up €103,786 (+1670.1%), from €6,214 to €110,000
- Profit (loss) carried forward -€64,149
down €64,149 (-100.0%), from €64,149 to €0
- Tax, wage and social debts +€45,733
up €45,733 (+160.8%), from €28,437 to €74,169
of which Taxes: +€34,096
- Gross operating margin +€172,268
up €172,268 (+449.9%), from €38,290 to €210,558
- Staff costs +€43,464
new in 2025: €43,464
- Taxes +€38,679
up €38,679 (+401.9%), from €9,624 to €48,303
- Depreciation +€11,194
up €11,194 (+94.1%), from €11,890 to €23,084
- Financial charges +€2,243
up €2,243 (+129.0%), from €1,738 to €3,981
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 | €201,972 | €777,195 | +€575,224 | +284.8% |
| Fixed assets | 21/28 | €62,830 | €89,469 | +€26,639 | +42.4% |
| Intangible fixed assets | 21 | €30,766 | €67,415 | +€36,649 | +119.1% |
| Tangible fixed assets | 22/27 | €32,063 | €22,054 | -€10,010 | -31.2% |
| Furniture and vehicles | 24 | €31,226 | €21,426 | -€9,800 | -31.4% |
| Other tangible fixed assets | 26 | €837 | €628 | -€210 | -25.0% |
| Current assets | 29/58 | €139,142 | €687,727 | +€548,585 | +394.3% |
| Amounts receivable within one year | 40/41 | €104,512 | €384,822 | +€280,309 | +268.2% |
| Trade receivables | 40 | €16,635 | €123,954 | +€107,319 | +645.2% |
| Other amounts receivable | 41 | €87,878 | €260,868 | +€172,990 | +196.9% |
| Cash at bank and in hand | 54/58 | €28,918 | €220,286 | +€191,368 | +661.8% |
| Deferred charges and accrued income | 490/1 | €5,712 | €82,619 | +€76,907 | +1346.5% |
| Total equity and liabilities | 10/49 | €201,972 | €777,195 | +€575,224 | +284.8% |
| Equity | 10/15 | €119,809 | €213,772 | +€93,963 | +78.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €47,600 | €205,712 | +€158,112 | +332.2% |
| Distributable reserves | 133 | €47,600 | €205,712 | +€158,112 | +332.2% |
| Profit (loss) carried forward | 14 | €64,149 | €0 | -€64,149 | -100.0% |
| Amounts payable | 17/49 | €82,163 | €563,423 | +€481,261 | +585.7% |
| Amounts payable after more than one year | 17 | €5,530 | €42,137 | +€36,607 | +662.0% |
| Financial debts | 170/4 | €5,530 | €42,137 | +€36,607 | +662.0% |
| Amounts payable within one year | 42/48 | €76,633 | €521,286 | +€444,653 | +580.2% |
| Current portion of amounts payable after more than one year | 42 | €12,856 | €16,931 | +€4,075 | +31.7% |
| Trade debts | 44 | €29,126 | €320,185 | +€291,059 | +999.3% |
| Suppliers | 440/4 | €29,126 | €320,185 | +€291,059 | +999.3% |
| Taxes, remuneration and social security | 45 | €28,437 | €74,169 | +€45,733 | +160.8% |
| Taxes | 450/3 | €28,437 | €62,533 | +€34,096 | +119.9% |
| Remuneration and social security | 454/9 | €0 | €11,637 | +€11,637 | |
| Other amounts payable | 47/48 | €6,214 | €110,000 | +€103,786 | +1670.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €43,464 | +€43,464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,890 | €23,084 | +€11,194 | +94.1% |
| Other operating charges | 640/8 | €1,048 | €1,017 | -€31 | -2.9% |
| Gross operating margin | 9900 | €38,290 | €210,558 | +€172,268 | +449.9% |
| Operating profit (loss) | 9901 | €25,352 | €142,993 | +€117,641 | +464.0% |
| Financial income | 75/76B | €4,672 | €3,254 | -€1,418 | -30.3% |
| Recurring financial income | 75 | €4,672 | €3,254 | -€1,418 | -30.3% |
| Financial charges | 65/66B | €1,738 | €3,981 | +€2,243 | +129.0% |
| Recurring financial charges | 65 | €1,738 | €3,981 | +€2,243 | +129.0% |
| Profit (loss) for the period before taxes | 9903 | €28,286 | €142,266 | +€113,980 | +403.0% |
| Income taxes | 67/77 | €9,624 | €48,303 | +€38,679 | +401.9% |
| Profit (loss) for the period | 9904 | €18,662 | €93,963 | +€75,301 | +403.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,662 | €93,963 | +€75,301 | +403.5% |
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 8 October 2026 via checked.be.