JD: 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.
JD
Largest movements
- Cash +€93,937
up €93,937 (+71.7%), from €131,023 to €224,959
mainly Other debts (+€288,851) and Net result for the year (+€127,714)
- Current investments +€24,000
up €24,000 (+40.2%), from €59,725 to €83,725
- Receivables within one year -€23,433
down €23,433 (-15.7%), from €148,873 to €125,440
of which Trade receivables: -€14,920
- Tangible fixed assets -€11,429
down €11,429 (-26.7%), from €42,868 to €31,438
- Other debts +€288,851
up €288,851 (+25859.6%), from €1,117 to €289,968
- Reserves -€216,711
down €216,711 (-62.9%), from €344,425 to €127,714
- Tax, wage and social debts +€18,105
up €18,105 (+118.3%), from €15,304 to €33,409
- Debts after one year -€6,457
down €6,457 (-53.4%), from €12,095 to €5,638
- Gross operating margin +€45,921
up €45,921 (+35.0%), from €131,116 to €177,037
- Taxes +€11,719
up €11,719 (+46.2%), from €25,352 to €37,071
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 | €383,788 | €466,783 | +€82,996 | +21.6% |
| Fixed assets | 21/28 | €42,868 | €31,438 | -€11,429 | -26.7% |
| Tangible fixed assets | 22/27 | €42,868 | €31,438 | -€11,429 | -26.7% |
| Furniture and vehicles | 24 | €42,868 | €31,438 | -€11,429 | -26.7% |
| Current assets | 29/58 | €340,920 | €435,345 | +€94,425 | +27.7% |
| Amounts receivable within one year | 40/41 | €148,873 | €125,440 | -€23,433 | -15.7% |
| Trade receivables | 40 | €140,360 | €125,440 | -€14,920 | -10.6% |
| Other amounts receivable | 41 | €8,513 | - | -€8,513 | |
| Current investments | 50/53 | €59,725 | €83,725 | +€24,000 | +40.2% |
| Cash at bank and in hand | 54/58 | €131,023 | €224,959 | +€93,937 | +71.7% |
| Deferred charges and accrued income | 490/1 | €1,299 | €1,221 | -€79 | -6.1% |
| Total equity and liabilities | 10/49 | €383,788 | €466,783 | +€82,996 | +21.6% |
| Equity | 10/15 | €347,425 | €130,714 | -€216,711 | -62.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €344,425 | €127,714 | -€216,711 | -62.9% |
| Distributable reserves | 133 | €344,425 | €127,714 | -€216,711 | -62.9% |
| Amounts payable | 17/49 | €36,363 | €336,070 | +€299,707 | +824.2% |
| Amounts payable after more than one year | 17 | €12,095 | €5,638 | -€6,457 | -53.4% |
| Financial debts | 170/4 | €12,095 | €5,638 | -€6,457 | -53.4% |
| Amounts payable within one year | 42/48 | €24,268 | €330,431 | +€306,163 | +1261.6% |
| Current portion of amounts payable after more than one year | 42 | €6,136 | €6,457 | +€321 | +5.2% |
| Trade debts | 44 | €1,712 | €598 | -€1,114 | -65.1% |
| Suppliers | 440/4 | €1,712 | €598 | -€1,114 | -65.1% |
| Taxes, remuneration and social security | 45 | €15,304 | €33,409 | +€18,105 | +118.3% |
| Taxes | 450/3 | €15,304 | €33,409 | +€18,105 | +118.3% |
| Other amounts payable | 47/48 | €1,117 | €289,968 | +€288,851 | +25859.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,429 | €11,429 | = | 0.0% |
| Other operating charges | 640/8 | €510 | €562 | +€51 | +10.0% |
| Gross operating margin | 9900 | €131,116 | €177,037 | +€45,921 | +35.0% |
| Operating profit (loss) | 9901 | €119,176 | €165,046 | +€45,870 | +38.5% |
| Financial income | 75/76B | €420 | €669 | +€248 | +59.1% |
| Recurring financial income | 75 | €420 | €669 | +€248 | +59.1% |
| Financial charges | 65/66B | €1,496 | €930 | -€566 | -37.9% |
| Recurring financial charges | 65 | €1,496 | €930 | -€566 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €118,101 | €164,785 | +€46,684 | +39.5% |
| Income taxes | 67/77 | €25,352 | €37,071 | +€11,719 | +46.2% |
| Profit (loss) for the period | 9904 | €92,748 | €127,714 | +€34,965 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €92,748 | €127,714 | +€34,965 | +37.7% |
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 7 October 2026 via checked.be.