Jordi: 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.
Jordi
Largest movements
- Stocks and contracts +€91,383
up €91,383 (+54.3%), from €168,209 to €259,592
- Tangible fixed assets +€43,166
up €43,166 (+25.1%), from €171,878 to €215,044
of which Land and buildings: +€61,081
- Deferred charges and accrued income +€11,961
up €11,961 (+1,487%), from €805 to €12,766
- Receivables within one year +€6,981
up €6,981 (+197%), from €3,540 to €10,521
of which Trade receivables: +€8,943
- Debts after one year +€122,303
up €122,303 (+62.2%), from €196,497 to €318,800
of which Other amounts payable: +€110,000
- Trade debts +€20,361
up €20,361 (+96.3%), from €21,146 to €41,507
- Profit (loss) carried forward +€15,919
up €15,919 (+15.9%), from €100,233 to €116,152
- Gross operating margin -€12,226
down €12,226 (-15.8%), from €77,423 to €65,196
- Taxes -€4,620
down €4,620 (-61.9%), from €7,466 to €2,846
- Financial charges +€3,599
up €3,599 (+137%), from €2,632 to €6,231
- Depreciation +€1,267
up €1,267 (+3.5%), from €36,580 to €37,847
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 | €355,289 | €513,884 | +€158,595 | +44.6% |
| Fixed assets | 21/28 | €171,878 | €219,056 | +€47,178 | +27.4% |
| Intangible fixed assets | 21 | - | €4,012 | +€4,012 | |
| Tangible fixed assets | 22/27 | €171,878 | €215,044 | +€43,166 | +25.1% |
| Land and buildings | 22 | €58,049 | €119,131 | +€61,081 | +105% |
| Plant, machinery and equipment | 23 | €32,554 | €36,991 | +€4,437 | +13.6% |
| Furniture and vehicles | 24 | €49,230 | €36,556 | -€12,674 | -25.7% |
| Leasing and similar rights | 25 | €29,108 | €19,876 | -€9,232 | -31.7% |
| Other tangible fixed assets | 26 | €2,936 | €2,490 | -€447 | -15.2% |
| Current assets | 29/58 | €183,411 | €294,828 | +€111,417 | +60.7% |
| Stocks and contracts in progress | 3 | €168,209 | €259,592 | +€91,383 | +54.3% |
| Stocks | 30/36 | €168,209 | €259,592 | +€91,383 | +54.3% |
| Amounts receivable within one year | 40/41 | €3,540 | €10,521 | +€6,981 | +197% |
| Trade receivables | 40 | - | €8,943 | +€8,943 | |
| Other amounts receivable | 41 | €3,540 | €1,578 | -€1,962 | -55.4% |
| Cash at bank and in hand | 54/58 | €10,856 | €11,949 | +€1,092 | +10.1% |
| Deferred charges and accrued income | 490/1 | €805 | €12,766 | +€11,961 | +1,487% |
| Total equity and liabilities | 10/49 | €355,289 | €513,884 | +€158,595 | +44.6% |
| Equity | 10/15 | €104,233 | €120,152 | +€15,919 | +15.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,233 | €116,152 | +€15,919 | +15.9% |
| Amounts payable | 17/49 | €251,056 | €393,731 | +€142,676 | +56.8% |
| Amounts payable after more than one year | 17 | €196,497 | €318,800 | +€122,303 | +62.2% |
| Financial debts | 170/4 | €88,497 | €100,800 | +€12,303 | +13.9% |
| Other amounts payable | 178/9 | €108,000 | €218,000 | +€110,000 | +102% |
| Amounts payable within one year | 42/48 | €54,559 | €74,932 | +€20,373 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €24,750 | €24,691 | -€59 | -0.2% |
| Trade debts | 44 | €21,146 | €41,507 | +€20,361 | +96.3% |
| Suppliers | 440/4 | €21,146 | €41,507 | +€20,361 | +96.3% |
| Taxes, remuneration and social security | 45 | €4,114 | €6,822 | +€2,708 | +65.8% |
| Taxes | 450/3 | €4,114 | €6,822 | +€2,708 | +65.8% |
| Other amounts payable | 47/48 | €4,548 | €1,911 | -€2,637 | -58.0% |
| Non-recurring operating income | 76A | €325 | €94 | -€231 | -71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,580 | €37,847 | +€1,267 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,036 | €938 | -€97 | -9.4% |
| Other operating charges | 640/8 | €1,416 | €1,531 | +€115 | +8.1% |
| Gross operating margin | 9900 | €77,423 | €65,196 | -€12,226 | -15.8% |
| Operating profit (loss) | 9901 | €38,391 | €24,880 | -€13,511 | -35.2% |
| Financial income | 75/76B | €57 | €116 | +€58 | +102% |
| Recurring financial income | 75 | €57 | €116 | +€58 | +102% |
| Financial charges | 65/66B | €2,632 | €6,231 | +€3,599 | +137% |
| Recurring financial charges | 65 | €2,632 | €6,231 | +€3,599 | +137% |
| Profit (loss) for the period before taxes | 9903 | €35,816 | €18,765 | -€17,052 | -47.6% |
| Income taxes | 67/77 | €7,466 | €2,846 | -€4,620 | -61.9% |
| Profit (loss) for the period | 9904 | €28,351 | €15,919 | -€12,431 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,351 | €15,919 | -€12,431 | -43.8% |
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 20 October 2026 via checked.be.