JD Management: 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 Management
Largest movements
- Receivables within one year +€296,907
up €296,907 (+26.3%), from €1.1m to €1.4m
- Reserves +€339,883
up €339,883 (+23.4%), from €1.5m to €1.8m
of which Distributable reserves: +€339,883
- Tax, wage and social debts -€48,701
down €48,701 (-49.6%), from €98,152 to €49,451
- Gross operating margin +€50,846
up €50,846 (+8.9%), from €568,420 to €619,267
- Taxes +€15,966
up €15,966 (+8.6%), from €185,053 to €201,019
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 | €1,627,304 | €1,904,285 | +€276,981 | +17.0% |
| Fixed assets | 21/28 | €8,443 | €8,026 | -€417 | -4.9% |
| Tangible fixed assets | 22/27 | €8,443 | €8,026 | -€417 | -4.9% |
| Furniture and vehicles | 24 | €8,443 | €8,026 | -€417 | -4.9% |
| Current assets | 29/58 | €1,618,861 | €1,896,259 | +€277,399 | +17.1% |
| Amounts receivable within one year | 40/41 | €1,128,696 | €1,425,602 | +€296,907 | +26.3% |
| Other amounts receivable | 41 | €1,128,696 | €1,425,602 | +€296,907 | +26.3% |
| Cash at bank and in hand | 54/58 | €463,515 | €450,547 | -€12,968 | -2.8% |
| Deferred charges and accrued income | 490/1 | €26,650 | €20,110 | -€6,540 | -24.5% |
| Total equity and liabilities | 10/49 | €1,627,304 | €1,904,285 | +€276,981 | +17.0% |
| Equity | 10/15 | €1,454,811 | €1,794,694 | +€339,883 | +23.4% |
| Reserves | 13 | €1,454,811 | €1,794,694 | +€339,883 | +23.4% |
| Tax-exempt reserves | 132 | €7,875 | €7,875 | = | 0.0% |
| Distributable reserves | 133 | €1,446,936 | €1,786,819 | +€339,883 | +23.5% |
| Amounts payable | 17/49 | €172,493 | €109,591 | -€62,902 | -36.5% |
| Amounts payable within one year | 42/48 | €164,855 | €105,024 | -€59,831 | -36.3% |
| Trade debts | 44 | €9,492 | €129 | -€9,363 | -98.6% |
| Suppliers | 440/4 | €9,492 | €129 | -€9,363 | -98.6% |
| Taxes, remuneration and social security | 45 | €98,152 | €49,451 | -€48,701 | -49.6% |
| Taxes | 450/3 | €98,152 | €49,451 | -€48,701 | -49.6% |
| Other amounts payable | 47/48 | €57,211 | €55,444 | -€1,767 | -3.1% |
| Accrued charges and deferred income | 492/3 | €7,638 | €4,567 | -€3,071 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189 | €4,490 | +€4,301 | +2279.7% |
| Other operating charges | 640/8 | €2,372 | €2,281 | -€91 | -3.8% |
| Gross operating margin | 9900 | €568,420 | €619,267 | +€50,846 | +8.9% |
| Operating profit (loss) | 9901 | €565,860 | €612,495 | +€46,636 | +8.2% |
| Financial income | 75/76B | €26,042 | €30,256 | +€4,213 | +16.2% |
| Recurring financial income | 75 | €26,042 | €30,256 | +€4,213 | +16.2% |
| Financial charges | 65/66B | €8,306 | €7,045 | -€1,261 | -15.2% |
| Recurring financial charges | 65 | €8,306 | €7,045 | -€1,261 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €583,596 | €635,706 | +€52,110 | +8.9% |
| Income taxes | 67/77 | €185,053 | €201,019 | +€15,966 | +8.6% |
| Profit (loss) for the period | 9904 | €398,543 | €434,687 | +€36,144 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €398,543 | €434,687 | +€36,144 | +9.1% |
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 8 October 2026 via checked.be.