JARICE: 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.
JARICE
Largest movements
- Tangible fixed assets +€425,802
up €425,802 (+67.2%), from €634,099 to €1.1m
of which Land and buildings: +€343,456
- Cash -€418,025
down €418,025 (-42.3%), from €988,705 to €570,680
mainly Investment in fixed assets (net) (-€466,427) and Trade debts (-€71,501)
- Receivables within one year +€66,897
up €66,897 (+55.8%), from €119,977 to €186,874
of which Trade receivables: +€68,218
- Reserves +€197,608
up €197,608 (+25.3%), from €782,290 to €979,898
- Trade debts -€71,501
down €71,501 (-51.0%), from €140,172 to €68,671
- Debts after one year -€60,000
down €60,000 (-11.3%), from €530,000 to €470,000
- Write-downs -€109,458
down €109,458, from €102,964 to -€6,494
- Gross operating margin -€28,585
down €28,585 (-5.3%), from €541,990 to €513,404
- Financial charges +€25,040
up €25,040 (+114%), from €21,971 to €47,012
of which Non-recurring financial charges: +€25,431
- Depreciation +€24,012
up €24,012 (+145%), from €16,613 to €40,624
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 | €1,808,036 | €1,885,800 | +€77,764 | +4.3% |
| Fixed assets | 21/28 | €634,099 | €1,059,902 | +€425,802 | +67.2% |
| Tangible fixed assets | 22/27 | €634,099 | €1,059,902 | +€425,802 | +67.2% |
| Land and buildings | 22 | €616,038 | €959,494 | +€343,456 | +55.8% |
| Plant, machinery and equipment | 23 | €7 | - | -€7 | |
| Furniture and vehicles | 24 | €18,054 | €100,408 | +€82,353 | +456% |
| Current assets | 29/58 | €1,173,937 | €825,899 | -€348,038 | -29.6% |
| Stocks and contracts in progress | 3 | €56,668 | €66,476 | +€9,808 | +17.3% |
| Stocks | 30/36 | €56,668 | €66,476 | +€9,808 | +17.3% |
| Amounts receivable within one year | 40/41 | €119,977 | €186,874 | +€66,897 | +55.8% |
| Trade receivables | 40 | €91,736 | €159,954 | +€68,218 | +74.4% |
| Other amounts receivable | 41 | €28,240 | €26,920 | -€1,320 | -4.7% |
| Cash at bank and in hand | 54/58 | €988,705 | €570,680 | -€418,025 | -42.3% |
| Deferred charges and accrued income | 490/1 | €8,587 | €1,869 | -€6,718 | -78.2% |
| Total equity and liabilities | 10/49 | €1,808,036 | €1,885,800 | +€77,764 | +4.3% |
| Equity | 10/15 | €904,006 | €1,101,614 | +€197,608 | +21.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €782,290 | €979,898 | +€197,608 | +25.3% |
| Distributable reserves | 133 | €782,290 | €979,898 | +€197,608 | +25.3% |
| Profit (loss) carried forward | 14 | €21,716 | €21,716 | = | 0.0% |
| Amounts payable | 17/49 | €904,031 | €784,186 | -€119,844 | -13.3% |
| Amounts payable after more than one year | 17 | €530,000 | €470,000 | -€60,000 | -11.3% |
| Financial debts | 170/4 | €530,000 | €470,000 | -€60,000 | -11.3% |
| Amounts payable within one year | 42/48 | €374,031 | €314,186 | -€59,844 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €140,172 | €68,671 | -€71,501 | -51.0% |
| Suppliers | 440/4 | €140,172 | €68,671 | -€71,501 | -51.0% |
| Advances received on contracts in progress | 46 | €14,028 | €17,539 | +€3,511 | +25.0% |
| Taxes, remuneration and social security | 45 | €31,824 | €28,168 | -€3,656 | -11.5% |
| Taxes | 450/3 | €4,635 | €2,438 | -€2,197 | -47.4% |
| Remuneration and social security | 454/9 | €27,189 | €25,730 | -€1,459 | -5.4% |
| Other amounts payable | 47/48 | €128,008 | €139,809 | +€11,801 | +9.2% |
| Remuneration, social security and pensions | 62 | €153,555 | €151,099 | -€2,457 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,613 | €40,624 | +€24,012 | +145% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €102,964 | -€6,494 | -€109,458 | |
| Other operating charges | 640/8 | €15,749 | €13,639 | -€2,110 | -13.4% |
| Gross operating margin | 9900 | €541,990 | €513,404 | -€28,585 | -5.3% |
| Operating profit (loss) | 9901 | €253,109 | €314,536 | +€61,427 | +24.3% |
| Financial income | 75/76B | €8,679 | €6,042 | -€2,637 | -30.4% |
| Recurring financial income | 75 | €8,679 | €6,042 | -€2,637 | -30.4% |
| Financial charges | 65/66B | €21,971 | €47,012 | +€25,040 | +114% |
| Recurring financial charges | 65 | €21,971 | €21,581 | -€391 | -1.8% |
| Non-recurring financial charges | 66B | - | €25,431 | +€25,431 | |
| Profit (loss) for the period before taxes | 9903 | €239,817 | €273,566 | +€33,750 | +14.1% |
| Income taxes | 67/77 | €75,633 | €75,958 | +€325 | +0.4% |
| Profit (loss) for the period | 9904 | €164,183 | €197,608 | +€33,425 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €164,183 | €197,608 | +€33,425 | +20.4% |
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 29 October 2026 via checked.be.