Thomas Batjoens: what changed
Thomas Batjoens
Largest movements
- Cash -€372,877
down €372,877 (-72.5%), from €514,335 to €141,458
mainly Other debts (-€216,215) and Contributions, distributions and other (-€200,859)
- Tangible fixed assets +€19,693
new in 2025: €19,693
- Receivables within one year +€13,354
up €13,354 (+39.0%), from €34,200 to €47,553
of which Other amounts receivable: +€40,085
- Other debts -€216,215
down €216,215 (-63.8%), from €338,978 to €122,763
- Current portion of long-term debt -€83,607
down €83,607 (-79.0%), from €105,793 to €22,186
- Reserves -€37,592
down €37,592 (-9.6%), from €392,727 to €355,135
- Debts after one year -€22,186
down €22,186 (-100%), from €22,186 to €0
- Trade debts +€11,914
up €11,914 (+199%), from €5,989 to €17,903
- Gross operating margin -€193,723
down €193,723 (-52.3%), from €370,670 to €176,947
- Financial income +€51,500
up €51,500 (+30,294,018%), from €0 to €51,500
- Taxes -€46,462
down €46,462 (-53.6%), from €86,692 to €40,229
- Staff costs +€20,283
new in 2025: €20,283
- Other operating charges -€10,992
down €10,992 (-95.3%), from €11,536 to €544
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 | €919,078 | €579,158 | -€339,920 | -37.0% |
| Fixed assets | 21/28 | €368,000 | €387,693 | +€19,693 | +5.4% |
| Tangible fixed assets | 22/27 | - | €19,693 | +€19,693 | |
| Furniture and vehicles | 24 | - | €19,693 | +€19,693 | |
| Financial fixed assets | 28 | €368,000 | €368,000 | = | 0.0% |
| Current assets | 29/58 | €551,078 | €191,466 | -€359,612 | -65.3% |
| Amounts receivable within one year | 40/41 | €34,200 | €47,553 | +€13,354 | +39.0% |
| Trade receivables | 40 | €34,200 | €7,468 | -€26,731 | -78.2% |
| Other amounts receivable | 41 | €0 | €40,085 | +€40,085 | |
| Cash at bank and in hand | 54/58 | €514,335 | €141,458 | -€372,877 | -72.5% |
| Deferred charges and accrued income | 490/1 | €2,543 | €2,455 | -€89 | -3.5% |
| Total equity and liabilities | 10/49 | €919,078 | €579,158 | -€339,920 | -37.0% |
| Equity | 10/15 | €411,277 | €373,685 | -€37,592 | -9.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €392,727 | €355,135 | -€37,592 | -9.6% |
| Distributable reserves | 133 | €392,727 | €355,135 | -€37,592 | -9.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €507,802 | €205,473 | -€302,328 | -59.5% |
| Amounts payable after more than one year | 17 | €22,186 | €0 | -€22,186 | -100% |
| Financial debts | 170/4 | €22,186 | €0 | -€22,186 | -100% |
| Amounts payable within one year | 42/48 | €485,616 | €205,473 | -€280,142 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €105,793 | €22,186 | -€83,607 | -79.0% |
| Trade debts | 44 | €5,989 | €17,903 | +€11,914 | +199% |
| Suppliers | 440/4 | €5,989 | €17,903 | +€11,914 | +199% |
| Taxes, remuneration and social security | 45 | €34,855 | €42,621 | +€7,766 | +22.3% |
| Taxes | 450/3 | €34,855 | €40,418 | +€5,562 | +16.0% |
| Remuneration and social security | 454/9 | - | €2,204 | +€2,204 | |
| Other amounts payable | 47/48 | €338,978 | €122,763 | -€216,215 | -63.8% |
| Non-recurring operating income | 76A | €20,103 | €0 | -€20,103 | -100% |
| Remuneration, social security and pensions | 62 | - | €20,283 | +€20,283 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €983 | +€983 | |
| Other operating charges | 640/8 | €11,536 | €544 | -€10,992 | -95.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €370,670 | €176,947 | -€193,723 | -52.3% |
| Operating profit (loss) | 9901 | €359,134 | €155,138 | -€203,996 | -56.8% |
| Financial income | 75/76B | €0 | €51,500 | +€51,500 | +30,294,018% |
| Recurring financial income | 75 | €0 | €51,500 | +€51,500 | +30,294,018% |
| Financial charges | 65/66B | €4,716 | €3,141 | -€1,575 | -33.4% |
| Recurring financial charges | 65 | €4,716 | €3,141 | -€1,575 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €354,418 | €203,497 | -€150,921 | -42.6% |
| Income taxes | 67/77 | €86,692 | €40,229 | -€46,462 | -53.6% |
| Profit (loss) for the period | 9904 | €267,727 | €163,267 | -€104,459 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €267,727 | €163,267 | -€104,459 | -39.0% |
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 3 November 2026 via checked.be.