Joeri Schepers: 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.
Joeri Schepers
Largest movements
- Cash +€40,224
up €40,224 (+24.1%), from €166,797 to €207,021
mainly Other debts (+€108,573) and Net result for the year (+€25,832)
- Tangible fixed assets -€13,175
down €13,175 (-32.2%), from €40,904 to €27,729
- Receivables within one year -€7,663
down €7,663 (-40.8%), from €18,788 to €11,125
of which Other amounts receivable: -€7,663
- Other debts +€108,573
up €108,573 (+179%), from €60,708 to €169,281
- Reserves -€94,168
down €94,168 (-41.3%), from €227,842 to €133,674
- Tax, wage and social debts +€17,760
up €17,760 (+200%), from €8,859 to €26,619
of which Taxes: +€17,760
- Current portion of long-term debt -€13,126
down €13,126 (-49.5%), from €26,519 to €13,392
- Gross operating margin +€2,689
up €2,689 (+6.1%), from €43,960 to €46,648
- Taxes +€563
up €563 (+8.9%), from €6,312 to €6,875
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 | €356,489 | €375,875 | +€19,386 | +5.4% |
| Fixed assets | 21/28 | €170,904 | €157,729 | -€13,175 | -7.7% |
| Tangible fixed assets | 22/27 | €40,904 | €27,729 | -€13,175 | -32.2% |
| Furniture and vehicles | 24 | €40,904 | €27,729 | -€13,175 | -32.2% |
| Financial fixed assets | 28 | €130,000 | €130,000 | = | 0.0% |
| Current assets | 29/58 | €185,585 | €218,146 | +€32,561 | +17.5% |
| Amounts receivable within one year | 40/41 | €18,788 | €11,125 | -€7,663 | -40.8% |
| Trade receivables | 40 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 41 | €8,788 | €1,125 | -€7,663 | -87.2% |
| Cash at bank and in hand | 54/58 | €166,797 | €207,021 | +€40,224 | +24.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €356,489 | €375,875 | +€19,386 | +5.4% |
| Equity | 10/15 | €257,842 | €163,674 | -€94,168 | -36.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €227,842 | €133,674 | -€94,168 | -41.3% |
| Distributable reserves | 133 | €227,842 | €133,674 | -€94,168 | -41.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,648 | €212,201 | +€113,554 | +115% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €97,555 | €211,237 | +€113,681 | +117% |
| Current portion of amounts payable after more than one year | 42 | €26,519 | €13,392 | -€13,126 | -49.5% |
| Trade debts | 44 | €1,469 | €1,944 | +€475 | +32.3% |
| Suppliers | 440/4 | €1,469 | €1,944 | +€475 | +32.3% |
| Taxes, remuneration and social security | 45 | €8,859 | €26,619 | +€17,760 | +200% |
| Taxes | 450/3 | €6,189 | €23,949 | +€17,760 | +287% |
| Remuneration and social security | 454/9 | €2,670 | €2,670 | = | 0.0% |
| Other amounts payable | 47/48 | €60,708 | €169,281 | +€108,573 | +179% |
| Accrued charges and deferred income | 492/3 | €1,092 | €965 | -€128 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,246 | €13,175 | -€70 | -0.5% |
| Other operating charges | 640/8 | €739 | €502 | -€237 | -32.1% |
| Gross operating margin | 9900 | €43,960 | €46,648 | +€2,689 | +6.1% |
| Operating profit (loss) | 9901 | €29,975 | €32,972 | +€2,997 | +10.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €533 | €265 | -€269 | -50.4% |
| Recurring financial charges | 65 | €533 | €265 | -€269 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €29,442 | €32,707 | +€3,265 | +11.1% |
| Income taxes | 67/77 | €6,312 | €6,875 | +€563 | +8.9% |
| Profit (loss) for the period | 9904 | €23,130 | €25,832 | +€2,702 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,130 | €25,832 | +€2,702 | +11.7% |
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.