J.R.S.: what changed
J.R.S.
Largest movements
- Tangible fixed assets +€69,121
up €69,121 (+27.7%), from €249,324 to €318,444
of which Other tangible fixed assets: +€66,025
- Cash +€10,719
up €10,719 (+29.7%), from €36,128 to €46,846
mainly Net result for the year (+€99,797) and Debts after one year (+€57,722)
- Receivables within one year +€9,509
up €9,509 (+7.4%), from €128,066 to €137,575
of which Other amounts receivable: +€71,733
- Reserves +€99,797
up €99,797 (+46.5%), from €214,726 to €314,523
- Debts after one year +€57,722
up €57,722 (+130%), from €44,572 to €102,294
- Trade debts -€54,450
down €54,450 (-73.3%), from €74,286 to €19,836
- Other debts -€45,923
down €45,923 (-100%), from €45,923 to €0
- Current portion of long-term debt +€29,318
up €29,318 (+673%), from €4,359 to €33,677
- Gross operating margin +€13,776
up €13,776 (+9.6%), from €143,387 to €157,163
- Financial income +€8,774
up €8,774 (+9,613%), from €91 to €8,865
- Depreciation +€8,187
up €8,187 (+78.7%), from €10,407 to €18,594
- Taxes +€7,610
up €7,610 (+29.3%), from €25,939 to €33,549
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €478,986 | €563,680 | +€84,694 | +17.7% |
| Fixed assets | 21/28 | €307,057 | €374,178 | +€67,121 | +21.9% |
| Tangible fixed assets | 22/27 | €249,324 | €318,444 | +€69,121 | +27.7% |
| Land and buildings | 22 | €150,085 | €150,085 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,051 | €9,045 | +€994 | +12.3% |
| Furniture and vehicles | 24 | €8,002 | €10,105 | +€2,102 | +26.3% |
| Other tangible fixed assets | 26 | €83,185 | €149,210 | +€66,025 | +79.4% |
| Financial fixed assets | 28 | €57,733 | €55,733 | -€2,000 | -3.5% |
| Current assets | 29/58 | €171,929 | €189,502 | +€17,573 | +10.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €4,596 | €4,596 | = | 0.0% |
| Stocks | 30/36 | €4,596 | €4,596 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €128,066 | €137,575 | +€9,509 | +7.4% |
| Trade receivables | 40 | €127,989 | €65,765 | -€62,223 | -48.6% |
| Other amounts receivable | 41 | €77 | €71,810 | +€71,733 | +93,087% |
| Cash at bank and in hand | 54/58 | €36,128 | €46,846 | +€10,719 | +29.7% |
| Deferred charges and accrued income | 490/1 | €3,140 | €485 | -€2,655 | -84.6% |
| Total equity and liabilities | 10/49 | €478,986 | €563,680 | +€84,694 | +17.7% |
| Equity | 10/15 | €219,726 | €319,523 | +€99,797 | +45.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €214,726 | €314,523 | +€99,797 | +46.5% |
| Distributable reserves | 133 | €214,726 | €314,523 | +€99,797 | +46.5% |
| Amounts payable | 17/49 | €259,260 | €244,157 | -€15,103 | -5.8% |
| Amounts payable after more than one year | 17 | €44,572 | €102,294 | +€57,722 | +130% |
| Financial debts | 170/4 | €44,572 | €102,294 | +€57,722 | +130% |
| Amounts payable within one year | 42/48 | €214,688 | €141,515 | -€73,173 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €4,359 | €33,677 | +€29,318 | +673% |
| Trade debts | 44 | €74,286 | €19,836 | -€54,450 | -73.3% |
| Suppliers | 440/4 | €74,286 | €19,836 | -€54,450 | -73.3% |
| Taxes, remuneration and social security | 45 | €90,119 | €88,001 | -€2,118 | -2.4% |
| Taxes | 450/3 | €90,119 | €88,001 | -€2,118 | -2.4% |
| Other amounts payable | 47/48 | €45,923 | €0 | -€45,923 | -100% |
| Accrued charges and deferred income | 492/3 | - | €348 | +€348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,407 | €18,594 | +€8,187 | +78.7% |
| Other operating charges | 640/8 | €2,665 | €2,744 | +€79 | +3.0% |
| Gross operating margin | 9900 | €143,387 | €157,163 | +€13,776 | +9.6% |
| Operating profit (loss) | 9901 | €130,315 | €135,825 | +€5,510 | +4.2% |
| Financial income | 75/76B | €91 | €8,865 | +€8,774 | +9,613% |
| Recurring financial income | 75 | €91 | €8,865 | +€8,774 | +9,613% |
| Financial charges | 65/66B | €11,142 | €11,345 | +€202 | +1.8% |
| Recurring financial charges | 65 | €11,142 | €11,345 | +€202 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €119,264 | €133,346 | +€14,082 | +11.8% |
| Income taxes | 67/77 | €25,939 | €33,549 | +€7,610 | +29.3% |
| Profit (loss) for the period | 9904 | €93,325 | €99,797 | +€6,472 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,325 | €99,797 | +€6,472 | +6.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.