Dr. JO DUJARDYN: 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.
Dr. JO DUJARDYN
Largest movements
- Deferred charges and accrued income -€137,194
down €137,194 (-77.7%), from €176,484 to €39,290
- Cash +€127,778
up €127,778 (+26.1%), from €489,276 to €617,053
mainly Deferred charges and accrued income (+€137,194) and Net result for the year (+€68,424)
- Tangible fixed assets -€44,003
down €44,003 (-5.5%), from €796,037 to €752,034
of which Furniture and vehicles: -€22,021
- Reserves +€68,424
up €68,424 (+7.8%), from €878,046 to €946,470
of which Distributable reserves: +€68,424
- Trade debts -€46,371
down €46,371 (-100%), from €46,371 to €0
- Other debts -€43,029
down €43,029 (-99.3%), from €43,314 to €286
- Debts after one year -€33,034
down €33,034 (-9.2%), from €360,716 to €327,682
- Tax, wage and social debts +€22,833
up €22,833 (+38.8%), from €58,805 to €81,638
of which Taxes: +€17,585
- Gross operating margin -€40,216
down €40,216 (-13.7%), from €293,371 to €253,155
- Taxes -€18,339
down €18,339 (-32.0%), from €57,358 to €39,019
- Depreciation +€7,671
up €7,671 (+16.1%), from €47,528 to €55,199
- Staff costs +€7,594
up €7,594 (+15.0%), from €50,623 to €58,217
- Financial charges -€4,544
down €4,544 (-11.8%), from €38,531 to €33,986
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 | €1,461,796 | €1,412,004 | -€49,793 | -3.4% |
| Fixed assets | 21/28 | €796,037 | €752,034 | -€44,003 | -5.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €796,037 | €752,034 | -€44,003 | -5.5% |
| Plant, machinery and equipment | 23 | €8,909 | €7,928 | -€981 | -11.0% |
| Furniture and vehicles | 24 | €72,354 | €50,333 | -€22,021 | -30.4% |
| Leasing and similar rights | 25 | €587,011 | €565,467 | -€21,544 | -3.7% |
| Other tangible fixed assets | 26 | €127,762 | €128,306 | +€544 | +0.4% |
| Current assets | 29/58 | €665,760 | €659,970 | -€5,790 | -0.9% |
| Amounts receivable within one year | 40/41 | - | €3,627 | +€3,627 | |
| Trade receivables | 40 | - | €3,627 | +€3,627 | |
| Cash at bank and in hand | 54/58 | €489,276 | €617,053 | +€127,778 | +26.1% |
| Deferred charges and accrued income | 490/1 | €176,484 | €39,290 | -€137,194 | -77.7% |
| Total equity and liabilities | 10/49 | €1,461,796 | €1,412,004 | -€49,793 | -3.4% |
| Equity | 10/15 | €896,646 | €965,070 | +€68,424 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €878,046 | €946,470 | +€68,424 | +7.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €876,186 | €944,610 | +€68,424 | +7.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €565,150 | €446,934 | -€118,216 | -20.9% |
| Amounts payable after more than one year | 17 | €360,716 | €327,682 | -€33,034 | -9.2% |
| Financial debts | 170/4 | €360,716 | €327,682 | -€33,034 | -9.2% |
| Amounts payable within one year | 42/48 | €182,347 | €119,251 | -€63,096 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €33,857 | €37,328 | +€3,471 | +10.3% |
| Trade debts | 44 | €46,371 | €0 | -€46,371 | -100% |
| Suppliers | 440/4 | €46,371 | €0 | -€46,371 | -100% |
| Taxes, remuneration and social security | 45 | €58,805 | €81,638 | +€22,833 | +38.8% |
| Taxes | 450/3 | €45,879 | €63,464 | +€17,585 | +38.3% |
| Remuneration and social security | 454/9 | €12,926 | €18,173 | +€5,248 | +40.6% |
| Other amounts payable | 47/48 | €43,314 | €286 | -€43,029 | -99.3% |
| Accrued charges and deferred income | 492/3 | €22,087 | €0 | -€22,087 | -100% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €50,623 | €58,217 | +€7,594 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,528 | €55,199 | +€7,671 | +16.1% |
| Other operating charges | 640/8 | €2,544 | €2,503 | -€41 | -1.6% |
| Gross operating margin | 9900 | €293,371 | €253,155 | -€40,216 | -13.7% |
| Operating profit (loss) | 9901 | €192,676 | €137,236 | -€55,440 | -28.8% |
| Financial income | 75/76B | €3,788 | €4,193 | +€406 | +10.7% |
| Recurring financial income | 75 | €3,788 | €4,193 | +€406 | +10.7% |
| Financial charges | 65/66B | €38,531 | €33,986 | -€4,544 | -11.8% |
| Recurring financial charges | 65 | €38,531 | €33,986 | -€4,544 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €157,933 | €107,443 | -€50,490 | -32.0% |
| Income taxes | 67/77 | €57,358 | €39,019 | -€18,339 | -32.0% |
| Profit (loss) for the period | 9904 | €100,574 | €68,424 | -€32,150 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,574 | €68,424 | -€32,150 | -32.0% |
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.