JBD: 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.
JBD
Largest movements
- Receivables within one year +€28,137
up €28,137 (+178.3%), from €15,779 to €43,915
of which Trade receivables: +€15,125
- Cash -€27,146
down €27,146 (-87.4%), from €31,076 to €3,930
mainly Receivables within one year (-€28,137) and Tax, wage and social debts (-€23,962)
- Deferred charges and accrued income -€786
down €786 (-7.6%), from €10,395 to €9,610
- Tax, wage and social debts -€23,962
down €23,962 (-58.6%), from €40,867 to €16,905
- Reserves +€12,840
up €12,840 (+1604.8%), from €800 to €13,640
- Other debts +€11,536
up €11,536 (+1021.9%), from €1,129 to €12,665
- Trade debts -€690
down €690 (-52.6%), from €1,313 to €623
- Gross operating margin +€29,523
up €29,523 (+890.4%), from €3,316 to €32,838
- Other operating charges +€9,591
up €9,591 (+1872.1%), from €512 to €10,103
- Taxes +€7,087
up €7,087 (+940.5%), from €754 to €7,840
- Financial charges +€880
up €880 (+124.7%), from €705 to €1,585
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 | €59,109 | €58,833 | -€276 | -0.5% |
| Formation expenses | 20 | €1,859 | €1,378 | -€481 | -25.9% |
| Current assets | 29/58 | €57,250 | €57,455 | +€205 | +0.4% |
| Amounts receivable within one year | 40/41 | €15,779 | €43,915 | +€28,137 | +178.3% |
| Trade receivables | 40 | €6,050 | €21,175 | +€15,125 | +250.0% |
| Other amounts receivable | 41 | €9,729 | €22,740 | +€13,012 | +133.7% |
| Cash at bank and in hand | 54/58 | €31,076 | €3,930 | -€27,146 | -87.4% |
| Deferred charges and accrued income | 490/1 | €10,395 | €9,610 | -€786 | -7.6% |
| Total equity and liabilities | 10/49 | €59,109 | €58,833 | -€276 | -0.5% |
| Equity | 10/15 | €15,800 | €28,640 | +€12,840 | +81.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €800 | €13,640 | +€12,840 | +1604.8% |
| Distributable reserves | 133 | €800 | €13,640 | +€12,840 | +1604.8% |
| Amounts payable | 17/49 | €43,309 | €30,193 | -€13,116 | -30.3% |
| Amounts payable within one year | 42/48 | €43,309 | €30,193 | -€13,116 | -30.3% |
| Trade debts | 44 | €1,313 | €623 | -€690 | -52.6% |
| Suppliers | 440/4 | €1,313 | €623 | -€690 | -52.6% |
| Taxes, remuneration and social security | 45 | €40,867 | €16,905 | -€23,962 | -58.6% |
| Taxes | 450/3 | €40,867 | €16,905 | -€23,962 | -58.6% |
| Other amounts payable | 47/48 | €1,129 | €12,665 | +€11,536 | +1021.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €481 | -€64 | -11.7% |
| Other operating charges | 640/8 | €512 | €10,103 | +€9,591 | +1872.1% |
| Gross operating margin | 9900 | €3,316 | €32,838 | +€29,523 | +890.4% |
| Operating profit (loss) | 9901 | €2,259 | €22,255 | +€19,996 | +885.2% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €705 | €1,585 | +€880 | +124.7% |
| Recurring financial charges | 65 | €705 | €1,585 | +€880 | +124.7% |
| Profit (loss) for the period before taxes | 9903 | €1,554 | €20,680 | +€19,127 | +1231.1% |
| Income taxes | 67/77 | €754 | €7,840 | +€7,087 | +940.5% |
| Profit (loss) for the period | 9904 | €800 | €12,840 | +€12,040 | +1504.8% |
| Profit (loss) for the period to be appropriated | 9905 | €800 | €12,840 | +€12,040 | +1504.8% |
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 4 October 2026 via checked.be.