BJC: 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.
BJC
Largest movements
- Receivables within one year -€212,529
down €212,529 (-48.6%), from €437,279 to €224,750
of which Trade receivables: -€209,373
- Stocks and contracts +€112,081
new in 2025: €112,081
- Tangible fixed assets +€58,400
up €58,400 (+51.3%), from €113,765 to €172,165
of which Assets under construction and advance payments: +€99,000
- Cash -€46,272
down €46,272 (-77.3%), from €59,895 to €13,622
mainly Trade debts (-€146,361) and Stocks and contracts (-€112,081)
- Trade debts -€146,361
down €146,361 (-49.2%), from €297,319 to €150,958
- Debts after one year +€70,842
up €70,842 (+97.6%), from €72,548 to €143,390
- Other debts -€20,600
no longer reported in 2025 (was €20,600)
- Gross operating margin -€56,981
down €56,981 (-43.6%), from €130,754 to €73,773
- Other operating charges +€11,157
up €11,157 (+377%), from €2,958 to €14,115
- Taxes -€7,286
down €7,286 (-47.1%), from €15,468 to €8,182
- Financial charges -€4,280
down €4,280 (-61.9%), from €6,913 to €2,633
of which Non-recurring financial charges: -€2,600
- Depreciation -€4,009
down €4,009 (-8.2%), from €49,141 to €45,132
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 | €612,782 | €525,039 | -€87,743 | -14.3% |
| Fixed assets | 21/28 | €113,765 | €172,165 | +€58,400 | +51.3% |
| Tangible fixed assets | 22/27 | €113,765 | €172,165 | +€58,400 | +51.3% |
| Plant, machinery and equipment | 23 | €9,926 | €9,091 | -€836 | -8.4% |
| Furniture and vehicles | 24 | €100,391 | €61,488 | -€38,903 | -38.8% |
| Other tangible fixed assets | 26 | €3,448 | €2,586 | -€862 | -25.0% |
| Assets under construction and advance payments | 27 | - | €99,000 | +€99,000 | |
| Current assets | 29/58 | €499,017 | €352,874 | -€146,143 | -29.3% |
| Stocks and contracts in progress | 3 | - | €112,081 | +€112,081 | |
| Stocks | 30/36 | - | €112,081 | +€112,081 | |
| Amounts receivable within one year | 40/41 | €437,279 | €224,750 | -€212,529 | -48.6% |
| Trade receivables | 40 | €371,584 | €162,212 | -€209,373 | -56.3% |
| Other amounts receivable | 41 | €65,694 | €62,538 | -€3,156 | -4.8% |
| Cash at bank and in hand | 54/58 | €59,895 | €13,622 | -€46,272 | -77.3% |
| Deferred charges and accrued income | 490/1 | €1,844 | €2,421 | +€577 | +31.3% |
| Total equity and liabilities | 10/49 | €612,782 | €525,039 | -€87,743 | -14.3% |
| Equity | 10/15 | €168,786 | €174,820 | +€6,034 | +3.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €143,786 | €149,820 | +€6,034 | +4.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €141,286 | €147,320 | +€6,034 | +4.3% |
| Amounts payable | 17/49 | €443,996 | €350,219 | -€93,777 | -21.1% |
| Amounts payable after more than one year | 17 | €72,548 | €143,390 | +€70,842 | +97.6% |
| Financial debts | 170/4 | €72,548 | €143,390 | +€70,842 | +97.6% |
| Amounts payable within one year | 42/48 | €371,448 | €206,829 | -€164,619 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €28,187 | €28,557 | +€370 | +1.3% |
| Trade debts | 44 | €297,319 | €150,958 | -€146,361 | -49.2% |
| Suppliers | 440/4 | €297,319 | €150,958 | -€146,361 | -49.2% |
| Taxes, remuneration and social security | 45 | €25,343 | €27,314 | +€1,971 | +7.8% |
| Taxes | 450/3 | €25,343 | €23,872 | -€1,471 | -5.8% |
| Remuneration and social security | 454/9 | - | €3,443 | +€3,443 | |
| Other amounts payable | 47/48 | €20,600 | - | -€20,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,141 | €45,132 | -€4,009 | -8.2% |
| Other operating charges | 640/8 | €2,958 | €14,115 | +€11,157 | +377% |
| Gross operating margin | 9900 | €130,754 | €73,773 | -€56,981 | -43.6% |
| Operating profit (loss) | 9901 | €78,655 | €14,525 | -€64,130 | -81.5% |
| Financial income | 75/76B | €16 | €2,323 | +€2,306 | +14,003% |
| Recurring financial income | 75 | €16 | €2,323 | +€2,306 | +14,003% |
| Financial charges | 65/66B | €6,913 | €2,633 | -€4,280 | -61.9% |
| Recurring financial charges | 65 | €4,313 | €2,633 | -€1,680 | -39.0% |
| Non-recurring financial charges | 66B | €2,600 | - | -€2,600 | |
| Profit (loss) for the period before taxes | 9903 | €71,759 | €14,215 | -€57,543 | -80.2% |
| Income taxes | 67/77 | €15,468 | €8,182 | -€7,286 | -47.1% |
| Profit (loss) for the period | 9904 | €56,291 | €6,034 | -€50,257 | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,291 | €6,034 | -€50,257 | -89.3% |
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 14 October 2026 via checked.be.