J&R: 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&R
Largest movements
- Receivables within one year -€100,015
down €100,015 (-16.4%), from €610,952 to €510,937
of which Trade receivables: -€106,367
- Financial fixed assets -€24,500
down €24,500 (-60.2%), from €40,687 to €16,187
- Other debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tax, wage and social debts -€51,447
down €51,447 (-64.9%), from €79,269 to €27,822
of which Taxes: -€43,296
- Trade debts +€26,240
up €26,240 (+23.2%), from €113,030 to €139,270
- Profit (loss) carried forward +€7,682
up €7,682 (+7.3%), from €105,656 to €113,337
- Gross operating margin -€170,090
down €170,090 (-39.1%), from €435,305 to €265,215
- Staff costs -€43,106
down €43,106 (-16.1%), from €266,992 to €223,886
- Financial charges +€28,169
up €28,169 (+622.8%), from €4,523 to €32,691
of which Non-recurring financial charges: +€23,144
- Taxes -€14,036
down €14,036 (-64.7%), from €21,692 to €7,656
- Provisions -€5,000
new in 2025: -€5,000
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.
Cash bridge derived
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 | €653,862 | €527,771 | -€126,091 | -19.3% |
| Fixed assets | 21/28 | €41,218 | €16,187 | -€25,030 | -60.7% |
| Tangible fixed assets | 22/27 | €530 | €0 | -€530 | -100.0% |
| Other tangible fixed assets | 26 | €530 | €0 | -€530 | -100.0% |
| Financial fixed assets | 28 | €40,687 | €16,187 | -€24,500 | -60.2% |
| Current assets | 29/58 | €612,644 | €511,584 | -€101,061 | -16.5% |
| Amounts receivable within one year | 40/41 | €610,952 | €510,937 | -€100,015 | -16.4% |
| Trade receivables | 40 | €206,104 | €99,738 | -€106,367 | -51.6% |
| Other amounts receivable | 41 | €404,847 | €411,199 | +€6,352 | +1.6% |
| Cash at bank and in hand | 54/58 | €1,692 | €646 | -€1,046 | -61.8% |
| Total equity and liabilities | 10/49 | €653,862 | €527,771 | -€126,091 | -19.3% |
| Equity | 10/15 | €245,233 | €252,914 | +€7,682 | +3.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €78,077 | €78,077 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €71,927 | €71,927 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,656 | €113,337 | +€7,682 | +7.3% |
| Provisions and deferred taxes | 16 | €5,000 | €0 | -€5,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €0 | -€5,000 | -100.0% |
| Environmental obligations | 163 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts payable | 17/49 | €403,629 | €274,856 | -€128,772 | -31.9% |
| Amounts payable within one year | 42/48 | €403,629 | €274,856 | -€128,772 | -31.9% |
| Financial debts | 43 | €111,329 | €107,764 | -€3,565 | -3.2% |
| Credit institutions | 430/8 | €111,329 | €107,764 | -€3,565 | -3.2% |
| Trade debts | 44 | €113,030 | €139,270 | +€26,240 | +23.2% |
| Suppliers | 440/4 | €113,030 | €139,270 | +€26,240 | +23.2% |
| Taxes, remuneration and social security | 45 | €79,269 | €27,822 | -€51,447 | -64.9% |
| Taxes | 450/3 | €47,861 | €4,565 | -€43,296 | -90.5% |
| Remuneration and social security | 454/9 | €31,408 | €23,256 | -€8,151 | -26.0% |
| Other amounts payable | 47/48 | €100,000 | €0 | -€100,000 | -100.0% |
| Non-recurring operating income | 76A | €6,334 | €0 | -€6,334 | -100.0% |
| Remuneration, social security and pensions | 62 | €266,992 | €223,886 | -€43,106 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €827 | €530 | -€297 | -35.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€5,000 | -€5,000 | |
| Other operating charges | 640/8 | €3,076 | €5,811 | +€2,735 | +88.9% |
| Gross operating margin | 9900 | €435,305 | €265,215 | -€170,090 | -39.1% |
| Operating profit (loss) | 9901 | €164,410 | €39,988 | -€124,421 | -75.7% |
| Financial income | 75/76B | €9,727 | €8,041 | -€1,686 | -17.3% |
| Recurring financial income | 75 | €9,727 | €8,041 | -€1,686 | -17.3% |
| Financial charges | 65/66B | €4,523 | €32,691 | +€28,169 | +622.8% |
| Recurring financial charges | 65 | €4,523 | €9,548 | +€5,025 | +111.1% |
| Non-recurring financial charges | 66B | - | €23,144 | +€23,144 | |
| Profit (loss) for the period before taxes | 9903 | €169,614 | €15,337 | -€154,276 | -91.0% |
| Income taxes | 67/77 | €21,692 | €7,656 | -€14,036 | -64.7% |
| Profit (loss) for the period | 9904 | €147,922 | €7,682 | -€140,240 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €147,922 | €7,682 | -€140,240 | -94.8% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.