ADRIAN JUCY: 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.
ADRIAN JUCY
Largest movements
- Receivables within one year +€181,889
up €181,889 (+22.7%), from €801,068 to €982,958
of which Trade receivables: +€92,867
- Cash -€45,481
down €45,481 (-58.3%), from €78,028 to €32,548
mainly Receivables within one year (-€181,889) and Current portion of long-term debt (-€19,386)
- Profit (loss) carried forward +€85,123
up €85,123 (+49.0%), from -€173,793 to -€88,670
- Tax, wage and social debts +€53,601
up €53,601 (+116%), from €46,035 to €99,636
of which Remuneration and social security: +€62,849
- Trade debts +€33,062
up €33,062 (+3.6%), from €912,242 to €945,304
- Current portion of long-term debt -€19,386
down €19,386 (-85.3%), from €22,732 to €3,347
- Depreciation -€26,632
down €26,632 (-66.3%), from €40,173 to €13,541
- Financial income -€16,778
down €16,778 (-98.0%), from €17,125 to €347
- Gross operating margin +€11,151
up €11,151 (+4.2%), from €265,928 to €277,079
- Staff costs +€8,871
up €8,871 (+6.5%), from €137,346 to €146,218
- Other operating charges -€3,313
down €3,313 (-18.8%), from €17,592 to €14,280
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 | €917,394 | €1,055,046 | +€137,653 | +15.0% |
| Fixed assets | 21/28 | €36,967 | €36,894 | -€73 | -0.2% |
| Tangible fixed assets | 22/27 | €34,827 | €34,754 | -€73 | -0.2% |
| Furniture and vehicles | 24 | €22,458 | €26,508 | +€4,050 | +18.0% |
| Other tangible fixed assets | 26 | €12,369 | €8,246 | -€4,123 | -33.3% |
| Financial fixed assets | 28 | €2,140 | €2,140 | = | 0.0% |
| Current assets | 29/58 | €880,427 | €1,018,152 | +€137,726 | +15.6% |
| Amounts receivable within one year | 40/41 | €801,068 | €982,958 | +€181,889 | +22.7% |
| Trade receivables | 40 | €319,694 | €412,561 | +€92,867 | +29.0% |
| Other amounts receivable | 41 | €481,375 | €570,397 | +€89,022 | +18.5% |
| Cash at bank and in hand | 54/58 | €78,028 | €32,548 | -€45,481 | -58.3% |
| Deferred charges and accrued income | 490/1 | €1,330 | €2,647 | +€1,317 | +99.1% |
| Total equity and liabilities | 10/49 | €917,394 | €1,055,046 | +€137,653 | +15.0% |
| Equity | 10/15 | -€140,793 | -€55,670 | +€85,123 | +60.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,793 | -€88,670 | +€85,123 | +49.0% |
| Amounts payable | 17/49 | €1,058,187 | €1,110,717 | +€52,530 | +5.0% |
| Amounts payable after more than one year | 17 | €11,556 | €6,430 | -€5,126 | -44.4% |
| Financial debts | 170/4 | €11,556 | €6,430 | -€5,126 | -44.4% |
| Amounts payable within one year | 42/48 | €1,046,631 | €1,104,287 | +€57,656 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €22,732 | €3,347 | -€19,386 | -85.3% |
| Financial debts | 43 | €9,622 | - | -€9,622 | |
| Credit institutions | 430/8 | €9,622 | - | -€9,622 | |
| Trade debts | 44 | €912,242 | €945,304 | +€33,062 | +3.6% |
| Suppliers | 440/4 | €912,242 | €945,304 | +€33,062 | +3.6% |
| Advances received on contracts in progress | 46 | €56,000 | €56,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €46,035 | €99,636 | +€53,601 | +116% |
| Taxes | 450/3 | €26,997 | €17,749 | -€9,248 | -34.3% |
| Remuneration and social security | 454/9 | €19,038 | €81,887 | +€62,849 | +330% |
| Non-recurring operating income | 76A | €8,482 | €2,400 | -€6,082 | -71.7% |
| Remuneration, social security and pensions | 62 | €137,346 | €146,218 | +€8,871 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,173 | €13,541 | -€26,632 | -66.3% |
| Other operating charges | 640/8 | €17,592 | €14,280 | -€3,313 | -18.8% |
| Non-recurring operating charges | 66A | €12,152 | €7,257 | -€4,895 | -40.3% |
| Gross operating margin | 9900 | €265,928 | €277,079 | +€11,151 | +4.2% |
| Operating profit (loss) | 9901 | €58,664 | €95,784 | +€37,120 | +63.3% |
| Financial income | 75/76B | €17,125 | €347 | -€16,778 | -98.0% |
| Recurring financial income | 75 | €17,125 | €347 | -€16,778 | -98.0% |
| Financial charges | 65/66B | €6,978 | €8,208 | +€1,230 | +17.6% |
| Recurring financial charges | 65 | €6,978 | €8,208 | +€1,230 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €68,811 | €87,923 | +€19,112 | +27.8% |
| Income taxes | 67/77 | €3,293 | €2,800 | -€493 | -15.0% |
| Profit (loss) for the period | 9904 | €65,518 | €85,123 | +€19,605 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,518 | €85,123 | +€19,605 | +29.9% |
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 29 October 2026 via checked.be.