JBO: 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.
JBO
Largest movements
- Receivables after one year +€125,000
new in 2025: €125,000
- Receivables within one year -€58,812
down €58,812 (-43.3%), from €135,853 to €77,042
of which Other amounts receivable: -€126,661
- Cash -€15,961
down €15,961 (-81.9%), from €19,481 to €3,520
mainly Receivables after one year (-€125,000) and Debts after one year (-€14,124)
- Trade debts +€28,774
up €28,774 (+456%), from €6,313 to €35,087
- Tax, wage and social debts +€18,555
up €18,555 (+34.8%), from €53,324 to €71,879
- Debts after one year -€14,124
down €14,124 (-3.2%), from €439,621 to €425,497
- Gross operating margin -€82,861
down €82,861 (-48.6%), from €170,608 to €87,747
- Taxes +€6,820
up €6,820 (+17.1%), from €40,000 to €46,820
- Financial charges -€4,245
down €4,245 (-15.8%), from €26,930 to €22,685
- Other operating charges -€1,959
down €1,959 (-48.7%), from €4,023 to €2,065
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 | €1,245,433 | €1,290,841 | +€45,408 | +3.6% |
| Fixed assets | 21/28 | €1,090,099 | €1,085,279 | -€4,820 | -0.4% |
| Tangible fixed assets | 22/27 | €121,730 | €116,910 | -€4,820 | -4.0% |
| Land and buildings | 22 | €107,941 | €102,431 | -€5,510 | -5.1% |
| Plant, machinery and equipment | 23 | €0 | €974 | +€974 | +9,740,800% |
| Furniture and vehicles | 24 | €1,636 | €1,352 | -€284 | -17.4% |
| Assets under construction and advance payments | 27 | €12,154 | €12,154 | = | 0.0% |
| Financial fixed assets | 28 | €968,369 | €968,369 | = | 0.0% |
| Current assets | 29/58 | €155,334 | €205,561 | +€50,227 | +32.3% |
| Amounts receivable after more than one year | 29 | - | €125,000 | +€125,000 | |
| Other amounts receivable | 291 | - | €125,000 | +€125,000 | |
| Amounts receivable within one year | 40/41 | €135,853 | €77,042 | -€58,812 | -43.3% |
| Trade receivables | 40 | €9,153 | €77,002 | +€67,849 | +741% |
| Other amounts receivable | 41 | €126,701 | €40 | -€126,661 | -100.0% |
| Cash at bank and in hand | 54/58 | €19,481 | €3,520 | -€15,961 | -81.9% |
| Total equity and liabilities | 10/49 | €1,245,433 | €1,290,841 | +€45,408 | +3.6% |
| Equity | 10/15 | €731,250 | €741,591 | +€10,341 | +1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,215 | €27,215 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €25,355 | €27,215 | +€1,860 | +7.3% |
| Profit (loss) carried forward | 14 | €697,835 | €708,176 | +€10,341 | +1.5% |
| Amounts payable | 17/49 | €514,183 | €549,250 | +€35,066 | +6.8% |
| Amounts payable after more than one year | 17 | €439,621 | €425,497 | -€14,124 | -3.2% |
| Financial debts | 170/4 | €439,621 | €425,497 | -€14,124 | -3.2% |
| Amounts payable within one year | 42/48 | €72,940 | €122,227 | +€49,287 | +67.6% |
| Current portion of amounts payable after more than one year | 42 | €13,304 | €14,124 | +€821 | +6.2% |
| Trade debts | 44 | €6,313 | €35,087 | +€28,774 | +456% |
| Suppliers | 440/4 | €6,313 | €35,087 | +€28,774 | +456% |
| Taxes, remuneration and social security | 45 | €53,324 | €71,879 | +€18,555 | +34.8% |
| Taxes | 450/3 | €53,324 | €71,879 | +€18,555 | +34.8% |
| Other amounts payable | 47/48 | - | €1,138 | +€1,138 | |
| Accrued charges and deferred income | 492/3 | €1,622 | €1,525 | -€97 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,644 | €5,836 | +€191 | +3.4% |
| Other operating charges | 640/8 | €4,023 | €2,065 | -€1,959 | -48.7% |
| Gross operating margin | 9900 | €170,608 | €87,747 | -€82,861 | -48.6% |
| Operating profit (loss) | 9901 | €160,940 | €79,846 | -€81,094 | -50.4% |
| Financial charges | 65/66B | €26,930 | €22,685 | -€4,245 | -15.8% |
| Recurring financial charges | 65 | €26,930 | €22,685 | -€4,245 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €134,010 | €57,161 | -€76,849 | -57.3% |
| Income taxes | 67/77 | €40,000 | €46,820 | +€6,820 | +17.1% |
| Profit (loss) for the period | 9904 | €94,010 | €10,341 | -€83,669 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,010 | €10,341 | -€83,669 | -89.0% |
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 31 October 2026 via checked.be.