Jordan & Ray: 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.
Jordan & Ray
Largest movements
- Receivables within one year +€20,922
up €20,922 (+43.9%), from €47,695 to €68,618
of which Trade receivables: +€20,347
- Financial fixed assets -€4,950
down €4,950 (-35.3%), from €14,025 to €9,075
- Cash +€4,307
up €4,307 (+29.3%), from €14,681 to €18,989
mainly Net result for the year (+€13,435) and Tax, wage and social debts (+€10,943)
- Tangible fixed assets +€4,186
up €4,186 (+6.5%), from €64,367 to €68,553
of which Land and buildings: +€3,970
- Deferred charges and accrued income -€1,893
down €1,893 (-69.2%), from €2,734 to €841
- Profit (loss) carried forward +€13,435
up €13,435 (+5.6%), from -€240,656 to -€227,220
- Debts after one year -€11,518
down €11,518 (-15.7%), from €73,285 to €61,767
- Tax, wage and social debts +€10,943
up €10,943 (+109%), from €10,067 to €21,010
- Other debts +€4,978
up €4,978 (+5.4%), from €92,964 to €97,942
- Trade debts +€4,152
up €4,152 (+25.4%), from €16,339 to €20,491
- Gross operating margin +€10,830
up €10,830 (+41.4%), from €26,137 to €36,967
- Taxes +€3,717
up €3,717 (+183%), from €2,029 to €5,746
- Financial charges -€2,279
down €2,279 (-35.4%), from €6,439 to €4,160
- Financial income +€467
up €467 (+29,582%), from €2 to €469
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 | €143,914 | €166,223 | +€22,309 | +15.5% |
| Fixed assets | 21/28 | €78,803 | €77,775 | -€1,028 | -1.3% |
| Intangible fixed assets | 21 | €411 | €147 | -€264 | -64.3% |
| Tangible fixed assets | 22/27 | €64,367 | €68,553 | +€4,186 | +6.5% |
| Land and buildings | 22 | €63,525 | €67,495 | +€3,970 | +6.2% |
| Plant, machinery and equipment | 23 | - | €1,059 | +€1,059 | |
| Other tangible fixed assets | 26 | €842 | - | -€842 | |
| Financial fixed assets | 28 | €14,025 | €9,075 | -€4,950 | -35.3% |
| Current assets | 29/58 | €65,111 | €88,448 | +€23,336 | +35.8% |
| Amounts receivable within one year | 40/41 | €47,695 | €68,618 | +€20,922 | +43.9% |
| Trade receivables | 40 | €47,695 | €68,042 | +€20,347 | +42.7% |
| Other amounts receivable | 41 | - | €576 | +€576 | |
| Cash at bank and in hand | 54/58 | €14,681 | €18,989 | +€4,307 | +29.3% |
| Deferred charges and accrued income | 490/1 | €2,734 | €841 | -€1,893 | -69.2% |
| Total equity and liabilities | 10/49 | €143,914 | €166,223 | +€22,309 | +15.5% |
| Equity | 10/15 | -€83,990 | -€70,555 | +€13,435 | +16.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €144,266 | €144,266 | = | 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 | €142,406 | €144,266 | +€1,860 | +1.3% |
| Profit (loss) carried forward | 14 | -€240,656 | -€227,220 | +€13,435 | +5.6% |
| Amounts payable | 17/49 | €227,904 | €236,778 | +€8,873 | +3.9% |
| Amounts payable after more than one year | 17 | €73,285 | €61,767 | -€11,518 | -15.7% |
| Financial debts | 170/4 | €73,285 | €61,767 | -€11,518 | -15.7% |
| Amounts payable within one year | 42/48 | €154,555 | €171,945 | +€17,389 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €11,351 | €11,518 | +€167 | +1.5% |
| Financial debts | 43 | €23,833 | €20,983 | -€2,850 | -12.0% |
| Credit institutions | 430/8 | €23,833 | €20,983 | -€2,850 | -12.0% |
| Trade debts | 44 | €16,339 | €20,491 | +€4,152 | +25.4% |
| Suppliers | 440/4 | €16,339 | €20,491 | +€4,152 | +25.4% |
| Taxes, remuneration and social security | 45 | €10,067 | €21,010 | +€10,943 | +109% |
| Taxes | 450/3 | €10,067 | €21,010 | +€10,943 | +109% |
| Other amounts payable | 47/48 | €92,964 | €97,942 | +€4,978 | +5.4% |
| Accrued charges and deferred income | 492/3 | €64 | €3,066 | +€3,002 | +4,705% |
| Non-recurring operating income | 76A | - | €520 | +€520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,841 | €10,725 | -€116 | -1.1% |
| Other operating charges | 640/8 | €2,278 | €2,527 | +€248 | +10.9% |
| Non-recurring operating charges | 66A | - | €842 | +€842 | |
| Gross operating margin | 9900 | €26,137 | €36,967 | +€10,830 | +41.4% |
| Operating profit (loss) | 9901 | €13,018 | €22,873 | +€9,855 | +75.7% |
| Financial income | 75/76B | €2 | €469 | +€467 | +29,582% |
| Recurring financial income | 75 | €2 | €469 | +€467 | +29,582% |
| Financial charges | 65/66B | €6,439 | €4,160 | -€2,279 | -35.4% |
| Recurring financial charges | 65 | €6,439 | €4,160 | -€2,279 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €6,580 | €19,181 | +€12,601 | +191% |
| Income taxes | 67/77 | €2,029 | €5,746 | +€3,717 | +183% |
| Profit (loss) for the period | 9904 | €4,551 | €13,435 | +€8,884 | +195% |
| Profit (loss) for the period to be appropriated | 9905 | €4,551 | €13,435 | +€8,884 | +195% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.