J. Dubois: 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. Dubois
Largest movements
- Tangible fixed assets -€24,554
down €24,554 (-5.9%), from €419,673 to €395,119
of which Land and buildings: -€18,839
- Other debts +€22,194
up €22,194 (+12.2%), from €181,314 to €203,508
- Profit (loss) carried forward -€20,412
down €20,412 (-12.9%), from -€158,388 to -€178,800
- Short-term financial debts -€11,202
no longer reported in 2025 (was €11,202)
- Revaluation surpluses -€8,568
down €8,568 (-3.4%), from €249,504 to €240,935
- Gross operating margin -€6,756
down €6,756 (-67.8%), from €9,970 to €3,213
- Depreciation -€657
down €657 (-2.6%), from €25,211 to €24,554
- Financial charges -€638
down €638 (-54.7%), from €1,166 to €528
- Other operating charges +€167
up €167 (+3.2%), from €5,229 to €5,397
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 | €422,782 | €401,100 | -€21,681 | -5.1% |
| Fixed assets | 21/28 | €419,673 | €395,119 | -€24,554 | -5.9% |
| Tangible fixed assets | 22/27 | €419,673 | €395,119 | -€24,554 | -5.9% |
| Land and buildings | 22 | €411,021 | €392,182 | -€18,839 | -4.6% |
| Plant, machinery and equipment | 23 | €8,652 | €2,936 | -€5,715 | -66.1% |
| Current assets | 29/58 | €3,109 | €5,982 | +€2,873 | +92.4% |
| Cash at bank and in hand | 54/58 | €703 | €312 | -€390 | -55.5% |
| Deferred charges and accrued income | 490/1 | €2,406 | €5,669 | +€3,263 | +136% |
| Total equity and liabilities | 10/49 | €422,782 | €401,100 | -€21,681 | -5.1% |
| Equity | 10/15 | €190,662 | €165,510 | -€25,152 | -13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €249,504 | €240,935 | -€8,568 | -3.4% |
| Reserves | 13 | €80,946 | €84,774 | +€3,828 | +4.7% |
| Non-distributable reserves | 130/1 | €1,851 | €1,851 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,851 | €1,851 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,506 | €56,766 | -€4,740 | -7.7% |
| Distributable reserves | 133 | €17,589 | €26,157 | +€8,568 | +48.7% |
| Profit (loss) carried forward | 14 | -€158,388 | -€178,800 | -€20,412 | -12.9% |
| Provisions and deferred taxes | 16 | €31,671 | €29,230 | -€2,441 | -7.7% |
| Deferred taxes | 168 | €31,671 | €29,230 | -€2,441 | -7.7% |
| Amounts payable | 17/49 | €200,449 | €206,361 | +€5,911 | +2.9% |
| Amounts payable after more than one year | 17 | €1,683 | - | -€1,683 | |
| Financial debts | 170/4 | €1,683 | - | -€1,683 | |
| Amounts payable within one year | 42/48 | €197,004 | €206,361 | +€9,357 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €1,983 | - | -€1,983 | |
| Financial debts | 43 | €11,202 | - | -€11,202 | |
| Credit institutions | 430/8 | €11,202 | - | -€11,202 | |
| Trade debts | 44 | €1,872 | €2,205 | +€333 | +17.8% |
| Suppliers | 440/4 | €1,872 | €2,205 | +€333 | +17.8% |
| Taxes, remuneration and social security | 45 | €633 | €648 | +€15 | +2.4% |
| Taxes | 450/3 | €633 | €648 | +€15 | +2.4% |
| Other amounts payable | 47/48 | €181,314 | €203,508 | +€22,194 | +12.2% |
| Accrued charges and deferred income | 492/3 | €1,762 | - | -€1,762 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,211 | €24,554 | -€657 | -2.6% |
| Other operating charges | 640/8 | €5,229 | €5,397 | +€167 | +3.2% |
| Gross operating margin | 9900 | €9,970 | €3,213 | -€6,756 | -67.8% |
| Operating profit (loss) | 9901 | -€20,470 | -€26,738 | -€6,267 | -30.6% |
| Financial charges | 65/66B | €1,166 | €528 | -€638 | -54.7% |
| Recurring financial charges | 65 | €1,166 | €528 | -€638 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,637 | -€27,266 | -€5,629 | -26.0% |
| Transfer from deferred taxes | 780 | €2,441 | €2,441 | = | 0.0% |
| Income taxes | 67/77 | €322 | €327 | +€5 | +1.5% |
| Profit (loss) for the period | 9904 | -€19,518 | -€25,152 | -€5,634 | -28.9% |
| Transfer from tax-exempt reserves | 789 | €4,740 | €4,740 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,778 | -€20,412 | -€5,634 | -38.1% |
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 30 October 2026 via checked.be.