JD Management: 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.
JD Management
Largest movements
- Tangible fixed assets -€42,248
down €42,248 (-13.9%), from €304,891 to €262,642
of which Leasing and similar rights: -€27,334
- Cash +€18,906
up €18,906 (+67.5%), from €28,003 to €46,909
mainly Depreciation (+€38,145) and Net result for the year (+€14,708)
- Debts after one year -€30,247
down €30,247 (-44.6%), from €67,779 to €37,532
- Reserves +€14,708
up €14,708 (+26.0%), from €56,601 to €71,309
of which Distributable reserves: +€14,708
- Other debts -€5,532
down €5,532 (-17.9%), from €30,982 to €25,450
- Gross operating margin +€16,881
up €16,881 (+17.1%), from €99,001 to €115,883
- Depreciation +€3,557
up €3,557 (+10.3%), from €34,589 to €38,145
- Staff costs +€2,971
up €2,971 (+9.4%), from €31,669 to €34,641
- Other operating charges +€2,616
up €2,616 (+54.5%), from €4,798 to €7,414
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 | €354,687 | €335,959 | -€18,729 | -5.3% |
| Fixed assets | 21/28 | €304,891 | €262,642 | -€42,248 | -13.9% |
| Tangible fixed assets | 22/27 | €304,891 | €262,642 | -€42,248 | -13.9% |
| Land and buildings | 22 | €180,239 | €176,707 | -€3,532 | -2.0% |
| Plant, machinery and equipment | 23 | €3,779 | €2,110 | -€1,669 | -44.2% |
| Furniture and vehicles | 24 | €28,424 | €18,711 | -€9,713 | -34.2% |
| Leasing and similar rights | 25 | €92,449 | €65,115 | -€27,334 | -29.6% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €49,797 | €73,316 | +€23,519 | +47.2% |
| Amounts receivable within one year | 40/41 | €21,794 | €25,022 | +€3,228 | +14.8% |
| Trade receivables | 40 | €21,794 | €24,877 | +€3,083 | +14.1% |
| Other amounts receivable | 41 | - | €145 | +€145 | |
| Cash at bank and in hand | 54/58 | €28,003 | €46,909 | +€18,906 | +67.5% |
| Deferred charges and accrued income | 490/1 | - | €1,385 | +€1,385 | |
| Total equity and liabilities | 10/49 | €354,687 | €335,959 | -€18,729 | -5.3% |
| Equity | 10/15 | €206,601 | €221,309 | +€14,708 | +7.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €56,601 | €71,309 | +€14,708 | +26.0% |
| Non-distributable reserves | 130/1 | €5,276 | €5,276 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,276 | €5,276 | = | 0.0% |
| Distributable reserves | 133 | €51,324 | €66,032 | +€14,708 | +28.7% |
| Amounts payable | 17/49 | €148,087 | €114,650 | -€33,437 | -22.6% |
| Amounts payable after more than one year | 17 | €67,779 | €37,532 | -€30,247 | -44.6% |
| Financial debts | 170/4 | €67,779 | €37,532 | -€30,247 | -44.6% |
| Amounts payable within one year | 42/48 | €80,308 | €76,893 | -€3,415 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €30,057 | €29,819 | -€239 | -0.8% |
| Trade debts | 44 | €3,280 | €5,242 | +€1,962 | +59.8% |
| Suppliers | 440/4 | €3,280 | €5,242 | +€1,962 | +59.8% |
| Advances received on contracts in progress | 46 | - | €23 | +€23 | |
| Taxes, remuneration and social security | 45 | €15,988 | €16,359 | +€371 | +2.3% |
| Taxes | 450/3 | €11,856 | €12,079 | +€223 | +1.9% |
| Remuneration and social security | 454/9 | €4,132 | €4,280 | +€148 | +3.6% |
| Other amounts payable | 47/48 | €30,982 | €25,450 | -€5,532 | -17.9% |
| Accrued charges and deferred income | 492/3 | - | €225 | +€225 | |
| Remuneration, social security and pensions | 62 | €31,669 | €34,641 | +€2,971 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,589 | €38,145 | +€3,557 | +10.3% |
| Other operating charges | 640/8 | €4,798 | €7,414 | +€2,616 | +54.5% |
| Non-recurring operating charges | 66A | - | €9,899 | +€9,899 | |
| Gross operating margin | 9900 | €99,001 | €115,883 | +€16,881 | +17.1% |
| Operating profit (loss) | 9901 | €27,946 | €25,784 | -€2,162 | -7.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,675 | €4,214 | +€540 | +14.7% |
| Recurring financial charges | 65 | €3,675 | €4,214 | +€540 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €24,271 | €21,570 | -€2,702 | -11.1% |
| Income taxes | 67/77 | €7,877 | €6,862 | -€1,015 | -12.9% |
| Profit (loss) for the period | 9904 | €16,395 | €14,708 | -€1,687 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,395 | €14,708 | -€1,687 | -10.3% |
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 11 October 2026 via checked.be.