EJR: 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.
EJR
Largest movements
- Receivables within one year +€22,604
up €22,604 (+47.7%), from €47,362 to €69,965
of which Other amounts receivable: +€25,031
- Reserves +€11,913
up €11,913 (+89.8%), from €13,264 to €25,177
of which Distributable reserves: +€11,913
- Profit (loss) carried forward +€6,067
no longer reported in 2025 (was -€6,067)
- Tax, wage and social debts +€4,711
up €4,711 (+6,604%), from €71 to €4,782
- Trade debts -€2,114
down €2,114 (-17.9%), from €11,821 to €9,707
- Short-term financial debts +€1,493
new in 2025: €1,493
- Gross operating margin +€5,311
up €5,311 (+24.9%), from €21,327 to €26,638
- Taxes +€4,645
up €4,645 (+3,386%), from €137 to €4,782
- Write-downs +€3,317
new in 2025: €3,317
- Financial income +€1,074
up €1,074 (+55.9%), from €1,922 to €2,996
- Other operating charges -€535
down €535 (-32.1%), from €1,666 to €1,131
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 | €56,876 | €78,958 | +€22,082 | +38.8% |
| Fixed assets | 21/28 | €216 | €106 | -€110 | -51.0% |
| Tangible fixed assets | 22/27 | €216 | €106 | -€110 | -51.0% |
| Plant, machinery and equipment | 23 | €216 | €106 | -€110 | -51.0% |
| Current assets | 29/58 | €56,661 | €78,852 | +€22,192 | +39.2% |
| Stocks and contracts in progress | 3 | €9,236 | €8,887 | -€348 | -3.8% |
| Stocks | 30/36 | €9,236 | €8,887 | -€348 | -3.8% |
| Amounts receivable within one year | 40/41 | €47,362 | €69,965 | +€22,604 | +47.7% |
| Trade receivables | 40 | €3,308 | €880 | -€2,428 | -73.4% |
| Other amounts receivable | 41 | €44,054 | €69,085 | +€25,031 | +56.8% |
| Cash at bank and in hand | 54/58 | €63 | - | -€63 | |
| Total equity and liabilities | 10/49 | €56,876 | €78,958 | +€22,082 | +38.8% |
| Equity | 10/15 | €19,596 | €37,577 | +€17,980 | +91.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €13,264 | €25,177 | +€11,913 | +89.8% |
| 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 | €11,404 | €23,317 | +€11,913 | +104% |
| Profit (loss) carried forward | 14 | -€6,067 | - | +€6,067 | |
| Amounts payable | 17/49 | €37,280 | €41,382 | +€4,102 | +11.0% |
| Amounts payable within one year | 42/48 | €36,893 | €40,982 | +€4,089 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 43 | - | €1,493 | +€1,493 | |
| Credit institutions | 430/8 | - | €1,493 | +€1,493 | |
| Trade debts | 44 | €11,821 | €9,707 | -€2,114 | -17.9% |
| Suppliers | 440/4 | €11,821 | €9,707 | -€2,114 | -17.9% |
| Taxes, remuneration and social security | 45 | €71 | €4,782 | +€4,711 | +6,604% |
| Taxes | 450/3 | €71 | €4,782 | +€4,711 | +6,604% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €226 | €110 | -€116 | -51.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,317 | +€3,317 | |
| Other operating charges | 640/8 | €1,666 | €1,131 | -€535 | -32.1% |
| Gross operating margin | 9900 | €21,327 | €26,638 | +€5,311 | +24.9% |
| Operating profit (loss) | 9901 | €19,435 | €22,080 | +€2,645 | +13.6% |
| Financial income | 75/76B | €1,922 | €2,996 | +€1,074 | +55.9% |
| Recurring financial income | 75 | €1,922 | €2,996 | +€1,074 | +55.9% |
| Financial charges | 65/66B | €2,612 | €2,313 | -€298 | -11.4% |
| Recurring financial charges | 65 | €2,612 | €2,313 | -€298 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €18,745 | €22,763 | +€4,017 | +21.4% |
| Income taxes | 67/77 | €137 | €4,782 | +€4,645 | +3,386% |
| Profit (loss) for the period | 9904 | €18,608 | €17,980 | -€628 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,608 | €17,980 | -€628 | -3.4% |
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 15 October 2026 via checked.be.