J.R.: what changed
Two fiscal 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
- Tangible fixed assets +€412,054
up €412,054 (+63.8%), from €645,854 to €1.1m
of which Land and buildings: +€316,449
- Cash -€193,762
down €193,762 (-15.5%), from €1.2m to €1.1m
mainly Investment in fixed assets (net) (-€443,767) and Contributions, distributions and other (-€213,383)
- Receivables after one year -€75,000
down €75,000 (-60.0%), from €125,000 to €50,000
- Receivables within one year -€52,822
down €52,822 (-98.0%), from €53,916 to €1,094
of which Trade receivables: -€53,916
- Other debts +€98,905
up €98,905 (+15.0%), from €660,345 to €759,250
- Tax, wage and social debts -€23,126
down €23,126 (-46.6%), from €49,634 to €26,508
of which Taxes: -€23,126
- Financial income +€27,188
up €27,188 (+1213.4%), from €2,241 to €29,429
- Depreciation +€15,924
up €15,924 (+100.9%), from €15,789 to €31,713
- Gross operating margin +€10,071
up €10,071 (+2.8%), from €358,057 to €368,128
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 | €2,072,635 | €2,163,104 | +€90,469 | +4.4% |
| Fixed assets | 21/28 | €645,854 | €1,057,908 | +€412,054 | +63.8% |
| Tangible fixed assets | 22/27 | €645,854 | €1,057,908 | +€412,054 | +63.8% |
| Land and buildings | 22 | €634,571 | €951,020 | +€316,449 | +49.9% |
| Furniture and vehicles | 24 | €11,283 | €106,888 | +€95,605 | +847.4% |
| Current assets | 29/58 | €1,426,781 | €1,105,197 | -€321,585 | -22.5% |
| Amounts receivable after more than one year | 29 | €125,000 | €50,000 | -€75,000 | -60.0% |
| Other amounts receivable | 291 | €125,000 | €50,000 | -€75,000 | -60.0% |
| Amounts receivable within one year | 40/41 | €53,916 | €1,094 | -€52,822 | -98.0% |
| Trade receivables | 40 | €53,916 | €0 | -€53,916 | -100.0% |
| Other amounts receivable | 41 | - | €1,094 | +€1,094 | |
| Cash at bank and in hand | 54/58 | €1,247,865 | €1,054,103 | -€193,762 | -15.5% |
| Total equity and liabilities | 10/49 | €2,072,635 | €2,163,104 | +€90,469 | +4.4% |
| Equity | 10/15 | €1,353,010 | €1,373,314 | +€20,304 | +1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,340,610 | €1,360,914 | +€20,304 | +1.5% |
| Distributable reserves | 133 | €1,340,610 | €1,360,914 | +€20,304 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €719,625 | €789,790 | +€70,165 | +9.8% |
| Amounts payable within one year | 42/48 | €719,625 | €787,965 | +€68,340 | +9.5% |
| Trade debts | 44 | €9,646 | €2,207 | -€7,439 | -77.1% |
| Suppliers | 440/4 | €9,646 | €2,207 | -€7,439 | -77.1% |
| Taxes, remuneration and social security | 45 | €49,634 | €26,508 | -€23,126 | -46.6% |
| Taxes | 450/3 | €46,664 | €23,538 | -€23,126 | -49.6% |
| Remuneration and social security | 454/9 | €2,970 | €2,970 | = | 0.0% |
| Other amounts payable | 47/48 | €660,345 | €759,250 | +€98,905 | +15.0% |
| Accrued charges and deferred income | 492/3 | - | €1,825 | +€1,825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,789 | €31,713 | +€15,924 | +100.9% |
| Other operating charges | 640/8 | €2,846 | €3,206 | +€360 | +12.6% |
| Non-recurring operating charges | 66A | €18,834 | €24,710 | +€5,876 | +31.2% |
| Gross operating margin | 9900 | €358,057 | €368,128 | +€10,071 | +2.8% |
| Operating profit (loss) | 9901 | €320,588 | €308,499 | -€12,089 | -3.8% |
| Financial income | 75/76B | €2,241 | €29,429 | +€27,188 | +1213.4% |
| Recurring financial income | 75 | €2,241 | €29,429 | +€27,188 | +1213.4% |
| Financial charges | 65/66B | €212 | €542 | +€330 | +156.0% |
| Recurring financial charges | 65 | €212 | €542 | +€330 | +156.0% |
| Profit (loss) for the period before taxes | 9903 | €322,617 | €337,386 | +€14,769 | +4.6% |
| Income taxes | 67/77 | €100,161 | €103,699 | +€3,538 | +3.5% |
| Profit (loss) for the period | 9904 | €222,456 | €233,687 | +€11,231 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €222,456 | €233,687 | +€11,231 | +5.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.