THEO JANSSEN: what changed
THEO JANSSEN
Largest movements
- Cash +€11,799
up €11,799 (+6.8%), from €173,388 to €185,187
mainly Net result for the year (+€9,472) and Receivables within one year (+€4,898)
- Receivables within one year -€4,898
down €4,898 (-29.8%), from €16,464 to €11,566
- Reserves +€9,472
up €9,472 (+5.9%), from €160,589 to €170,062
of which Distributable reserves: +€9,472
- Trade debts -€3,328
down €3,328 (-70.0%), from €4,757 to €1,429
- Gross operating margin -€15,290
down €15,290 (-37.1%), from €41,263 to €25,973
- Other operating charges -€2,859
down €2,859 (-25.6%), from €11,177 to €8,318
- Taxes -€2,499
down €2,499 (-25.5%), from €9,809 to €7,310
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 | €197,723 | €203,440 | +€5,717 | +2.9% |
| Fixed assets | 21/28 | €6,939 | €5,604 | -€1,334 | -19.2% |
| Tangible fixed assets | 22/27 | €6,924 | €5,589 | -€1,334 | -19.3% |
| Other tangible fixed assets | 26 | €6,924 | €5,589 | -€1,334 | -19.3% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €190,785 | €197,836 | +€7,052 | +3.7% |
| Amounts receivable within one year | 40/41 | €16,464 | €11,566 | -€4,898 | -29.8% |
| Trade receivables | 40 | €16,464 | €11,566 | -€4,898 | -29.8% |
| Cash at bank and in hand | 54/58 | €173,388 | €185,187 | +€11,799 | +6.8% |
| Deferred charges and accrued income | 490/1 | €932 | €1,083 | +€151 | +16.2% |
| Total equity and liabilities | 10/49 | €197,723 | €203,440 | +€5,717 | +2.9% |
| Equity | 10/15 | €180,589 | €190,062 | +€9,472 | +5.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €160,589 | €170,062 | +€9,472 | +5.9% |
| Tax-exempt reserves | 132 | €84,588 | €84,588 | = | 0.0% |
| Distributable reserves | 133 | €76,001 | €85,473 | +€9,472 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,134 | €13,379 | -€3,755 | -21.9% |
| Amounts payable within one year | 42/48 | €16,878 | €13,375 | -€3,503 | -20.8% |
| Trade debts | 44 | €4,757 | €1,429 | -€3,328 | -70.0% |
| Suppliers | 440/4 | €4,757 | €1,429 | -€3,328 | -70.0% |
| Taxes, remuneration and social security | 45 | €9,848 | €9,270 | -€578 | -5.9% |
| Taxes | 450/3 | €7,325 | €9,270 | +€1,945 | +26.6% |
| Remuneration and social security | 454/9 | €2,523 | €0 | -€2,523 | -100% |
| Other amounts payable | 47/48 | €2,273 | €2,676 | +€403 | +17.8% |
| Accrued charges and deferred income | 492/3 | €256 | €3 | -€253 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,334 | €1,334 | = | 0.0% |
| Other operating charges | 640/8 | €11,177 | €8,318 | -€2,859 | -25.6% |
| Gross operating margin | 9900 | €41,263 | €25,973 | -€15,290 | -37.1% |
| Operating profit (loss) | 9901 | €28,751 | €16,321 | -€12,431 | -43.2% |
| Financial income | 75/76B | €763 | €821 | +€58 | +7.7% |
| Recurring financial income | 75 | €763 | €821 | +€58 | +7.7% |
| Financial charges | 65/66B | €347 | €360 | +€13 | +3.7% |
| Recurring financial charges | 65 | €347 | €360 | +€13 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €29,167 | €16,782 | -€12,385 | -42.5% |
| Income taxes | 67/77 | €9,809 | €7,310 | -€2,499 | -25.5% |
| Profit (loss) for the period | 9904 | €19,358 | €9,472 | -€9,886 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,358 | €9,472 | -€9,886 | -51.1% |
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.