JB: 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.
JB
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+29508.3%), from €4,244 to €1.3m
of which Land and buildings: +€1.3m
- Receivables within one year -€104,223
down €104,223 (-79.7%), from €130,736 to €26,513
of which Trade receivables: -€130,736
- Cash -€70,140
down €70,140 (-56.0%), from €125,286 to €55,146
mainly Investment in fixed assets (net) (-€1.3m) and Tax, wage and social debts (-€17,036)
- Debts after one year +€1.0m
up €1.0m (+746.9%), from €140,540 to €1.2m
- Reserves +€937,222
new in 2025: €937,222
- Profit (loss) carried forward -€917,038
no longer reported in 2025 (was €917,038)
- Current portion of long-term debt +€36,464
up €36,464 (+85.7%), from €42,566 to €79,030
- Financial income -€229,938
down €229,938 (-99.7%), from €230,536 to €598
- Gross operating margin -€128,651
down €128,651 (-66.6%), from €193,110 to €64,459
- Taxes -€35,125
down €35,125 (-80.6%), from €43,566 to €8,441
- Depreciation +€25,352
up €25,352 (+1242.8%), from €2,040 to €27,392
- Financial charges +€2,005
up €2,005 (+46.5%), from €4,312 to €6,317
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 | €1,210,449 | €2,304,906 | +€1.1m | +90.4% |
| Fixed assets | 21/28 | €954,244 | €2,206,575 | +€1.3m | +131.2% |
| Tangible fixed assets | 22/27 | €4,244 | €1,256,575 | +€1.3m | +29508.3% |
| Land and buildings | 22 | - | €1,255,133 | +€1.3m | |
| Plant, machinery and equipment | 23 | €2,595 | €1,335 | -€1,260 | -48.5% |
| Other tangible fixed assets | 26 | €1,649 | €107 | -€1,542 | -93.5% |
| Financial fixed assets | 28 | €950,000 | €950,000 | = | 0.0% |
| Current assets | 29/58 | €256,205 | €98,331 | -€157,874 | -61.6% |
| Amounts receivable within one year | 40/41 | €130,736 | €26,513 | -€104,223 | -79.7% |
| Trade receivables | 40 | €130,736 | - | -€130,736 | |
| Other amounts receivable | 41 | - | €26,513 | +€26,513 | |
| Cash at bank and in hand | 54/58 | €125,286 | €55,146 | -€70,140 | -56.0% |
| Deferred charges and accrued income | 490/1 | €182 | €16,673 | +€16,490 | +9038.1% |
| Total equity and liabilities | 10/49 | €1,210,449 | €2,304,906 | +€1.1m | +90.4% |
| Equity | 10/15 | €935,638 | €955,822 | +€20,184 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €937,222 | +€937,222 | |
| Distributable reserves | 133 | - | €937,222 | +€937,222 | |
| Profit (loss) carried forward | 14 | €917,038 | - | -€917,038 | |
| Amounts payable | 17/49 | €274,811 | €1,349,084 | +€1.1m | +390.9% |
| Amounts payable after more than one year | 17 | €140,540 | €1,190,298 | +€1.0m | +746.9% |
| Financial debts | 170/4 | €140,540 | €1,190,298 | +€1.0m | +746.9% |
| Amounts payable within one year | 42/48 | €130,340 | €157,787 | +€27,447 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €42,566 | €79,030 | +€36,464 | +85.7% |
| Trade debts | 44 | - | €8,420 | +€8,420 | |
| Suppliers | 440/4 | - | €8,420 | +€8,420 | |
| Taxes, remuneration and social security | 45 | €28,928 | €11,892 | -€17,036 | -58.9% |
| Taxes | 450/3 | €28,928 | €11,892 | -€17,036 | -58.9% |
| Other amounts payable | 47/48 | €58,847 | €58,446 | -€401 | -0.7% |
| Accrued charges and deferred income | 492/3 | €3,931 | €998 | -€2,933 | -74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,040 | €27,392 | +€25,352 | +1242.8% |
| Other operating charges | 640/8 | €1,957 | €2,723 | +€767 | +39.2% |
| Gross operating margin | 9900 | €193,110 | €64,459 | -€128,651 | -66.6% |
| Operating profit (loss) | 9901 | €189,114 | €34,344 | -€154,770 | -81.8% |
| Financial income | 75/76B | €230,536 | €598 | -€229,938 | -99.7% |
| Recurring financial income | 75 | €230,536 | €598 | -€229,938 | -99.7% |
| Financial charges | 65/66B | €4,312 | €6,317 | +€2,005 | +46.5% |
| Recurring financial charges | 65 | €4,312 | €6,317 | +€2,005 | +46.5% |
| Profit (loss) for the period before taxes | 9903 | €415,338 | €28,626 | -€386,713 | -93.1% |
| Income taxes | 67/77 | €43,566 | €8,441 | -€35,125 | -80.6% |
| Profit (loss) for the period | 9904 | €371,772 | €20,184 | -€351,587 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €371,772 | €20,184 | -€351,587 | -94.6% |
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 9 October 2026 via checked.be.