J.D.15: 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.
J.D.15
Largest movements
- Stocks and contracts -€306,688
down €306,688 (-45.3%), from €677,677 to €370,989
- Cash +€82,540
up €82,540 (+1,120%), from €7,371 to €89,911
mainly Stocks and contracts (+€306,688) and Net result for the year (+€28,243)
- Other debts -€283,885
down €283,885 (-22.6%), from €1.3m to €972,411
- Gross operating margin +€48,985
up €48,985, from -€7,525 to €41,460
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 | €5,045,104 | €4,792,082 | -€253,023 | -5.0% |
| Fixed assets | 21/28 | €4,337,771 | €4,328,955 | -€8,817 | -0.2% |
| Tangible fixed assets | 22/27 | €436,531 | €427,715 | -€8,817 | -2.0% |
| Land and buildings | 22 | €436,465 | €427,715 | -€8,750 | -2.0% |
| Plant, machinery and equipment | 23 | €67 | €0 | -€67 | -100% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €3,901,240 | €3,901,240 | = | 0.0% |
| Current assets | 29/58 | €707,333 | €463,127 | -€244,206 | -34.5% |
| Stocks and contracts in progress | 3 | €677,677 | €370,989 | -€306,688 | -45.3% |
| Stocks | 30/36 | €677,677 | €370,989 | -€306,688 | -45.3% |
| Amounts receivable within one year | 40/41 | €22,285 | €2,227 | -€20,058 | -90.0% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €22,285 | €2,227 | -€20,058 | -90.0% |
| Cash at bank and in hand | 54/58 | €7,371 | €89,911 | +€82,540 | +1,120% |
| Total equity and liabilities | 10/49 | €5,045,104 | €4,792,082 | -€253,023 | -5.0% |
| Equity | 10/15 | €3,785,801 | €3,814,044 | +€28,243 | +0.7% |
| Contributions | 10/11 | €3,900,000 | €3,900,000 | = | 0.0% |
| Reserves | 13 | €19,526 | €19,526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,526 | €19,526 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,526 | €19,526 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,724 | -€105,481 | +€28,243 | +21.1% |
| Amounts payable | 17/49 | €1,259,303 | €978,037 | -€281,266 | -22.3% |
| Amounts payable within one year | 42/48 | €1,259,303 | €978,037 | -€281,266 | -22.3% |
| Trade debts | 44 | €1,054 | €4,256 | +€3,202 | +304% |
| Suppliers | 440/4 | €1,054 | €4,256 | +€3,202 | +304% |
| Taxes, remuneration and social security | 45 | €1,953 | €1,370 | -€582 | -29.8% |
| Taxes | 450/3 | €1,953 | €1,370 | -€582 | -29.8% |
| Other amounts payable | 47/48 | €1,256,297 | €972,411 | -€283,885 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,850 | €8,817 | -€33 | -0.4% |
| Other operating charges | 640/8 | €2,169 | €1,887 | -€282 | -13.0% |
| Gross operating margin | 9900 | -€7,525 | €41,460 | +€48,985 | |
| Operating profit (loss) | 9901 | -€18,544 | €30,757 | +€49,301 | |
| Financial income | 75/76B | €250 | €2 | -€248 | -99.2% |
| Recurring financial income | 75 | €250 | €2 | -€248 | -99.2% |
| Financial charges | 65/66B | €2,398 | €2,215 | -€183 | -7.6% |
| Recurring financial charges | 65 | €2,398 | €2,215 | -€183 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,693 | €28,543 | +€49,236 | |
| Income taxes | 67/77 | €303 | €300 | -€3 | -0.8% |
| Profit (loss) for the period | 9904 | -€20,995 | €28,243 | +€49,238 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,995 | €28,243 | +€49,238 |
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 24 October 2026 via checked.be.