Tom Jacobs: 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.
Tom Jacobs
Largest movements
- Receivables after one year -€84,572
down €84,572 (-81.9%), from €103,298 to €18,726
- Cash +€77,008
up €77,008 (+25.9%), from €297,750 to €374,758
mainly Net result for the year (+€99,070) and Receivables after one year (+€84,572)
- Deferred charges and accrued income +€9,389
up €9,389 (+358.8%), from €2,617 to €12,006
- Other debts -€53,248
down €53,248 (-46.8%), from €113,779 to €60,531
- Reserves +€38,539
up €38,539 (+12.0%), from €321,866 to €360,404
- Tax, wage and social debts +€20,668
up €20,668 (+352.0%), from €5,871 to €26,539
of which Taxes: +€20,658
- Gross operating margin +€34,461
up €34,461 (+33.1%), from €104,122 to €138,583
- Taxes +€17,919
up €17,919 (+70.3%), from €25,503 to €43,421
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 | €449,834 | €455,859 | +€6,024 | +1.3% |
| Fixed assets | 21/28 | €1,487 | €4,762 | +€3,275 | +220.2% |
| Tangible fixed assets | 22/27 | €1,462 | €4,737 | +€3,275 | +224.0% |
| Plant, machinery and equipment | 23 | €1,358 | €4,737 | +€3,379 | +248.8% |
| Furniture and vehicles | 24 | €104 | - | -€104 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €448,347 | €451,096 | +€2,749 | +0.6% |
| Amounts receivable after more than one year | 29 | €103,298 | €18,726 | -€84,572 | -81.9% |
| Other amounts receivable | 291 | €103,298 | €18,726 | -€84,572 | -81.9% |
| Amounts receivable within one year | 40/41 | €44,683 | €45,607 | +€924 | +2.1% |
| Trade receivables | 40 | €17,954 | €12,360 | -€5,594 | -31.2% |
| Other amounts receivable | 41 | €26,729 | €33,247 | +€6,519 | +24.4% |
| Cash at bank and in hand | 54/58 | €297,750 | €374,758 | +€77,008 | +25.9% |
| Deferred charges and accrued income | 490/1 | €2,617 | €12,006 | +€9,389 | +358.8% |
| Total equity and liabilities | 10/49 | €449,834 | €455,859 | +€6,024 | +1.3% |
| Equity | 10/15 | €328,066 | €366,604 | +€38,539 | +11.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €321,866 | €360,404 | +€38,539 | +12.0% |
| Distributable reserves | 133 | €321,866 | €360,404 | +€38,539 | +12.0% |
| Amounts payable | 17/49 | €121,769 | €89,254 | -€32,515 | -26.7% |
| Amounts payable within one year | 42/48 | €121,758 | €89,242 | -€32,516 | -26.7% |
| Trade debts | 44 | €2,108 | €2,172 | +€64 | +3.0% |
| Suppliers | 440/4 | €2,108 | €2,172 | +€64 | +3.0% |
| Taxes, remuneration and social security | 45 | €5,871 | €26,539 | +€20,668 | +352.0% |
| Taxes | 450/3 | €2,227 | €22,885 | +€20,658 | +927.6% |
| Remuneration and social security | 454/9 | €3,644 | €3,653 | +€10 | +0.3% |
| Other amounts payable | 47/48 | €113,779 | €60,531 | -€53,248 | -46.8% |
| Accrued charges and deferred income | 492/3 | €11 | €12 | +€1 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €474 | €1,064 | +€590 | +124.3% |
| Other operating charges | 640/8 | €545 | €327 | -€218 | -40.0% |
| Gross operating margin | 9900 | €104,122 | €138,583 | +€34,461 | +33.1% |
| Operating profit (loss) | 9901 | €103,103 | €137,192 | +€34,089 | +33.1% |
| Financial income | 75/76B | €6,432 | €5,655 | -€777 | -12.1% |
| Recurring financial income | 75 | €6,432 | €5,655 | -€777 | -12.1% |
| Financial charges | 65/66B | €253 | €355 | +€102 | +40.6% |
| Recurring financial charges | 65 | €253 | €355 | +€102 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €109,282 | €142,492 | +€33,210 | +30.4% |
| Income taxes | 67/77 | €25,503 | €43,421 | +€17,919 | +70.3% |
| Profit (loss) for the period | 9904 | €83,779 | €99,070 | +€15,291 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,779 | €99,070 | +€15,291 | +18.3% |
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 1 October 2026 via checked.be.