JORUN: 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.
JORUN
Largest movements
- Tangible fixed assets +€229,513
up €229,513 (+30.6%), from €749,269 to €978,782
of which Assets under construction and advance payments: +€212,907
- Current investments +€68,335
up €68,335 (+2.6%), from €2.6m to €2.7m
- Cash -€59,424
down €59,424 (-69.2%), from €85,850 to €26,426
mainly Investment in fixed assets (net) (-€275,050) and Contributions, distributions and other (-€248,166)
- Other debts +€200,807
up €200,807 (+10.3%), from €1.9m to €2.1m
- Gross operating margin +€226,319
up €226,319 (+288%), from €78,565 to €304,884
- Financial income +€121,112
up €121,112 (+146%), from €83,143 to €204,255
of which Non-recurring financial income: +€127,608
- Taxes +€68,175
up €68,175 (+629%), from €10,845 to €79,020
- Financial charges +€35,102
up €35,102 (+42.2%), from €83,099 to €118,201
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 | €3,490,247 | €3,761,766 | +€271,519 | +7.8% |
| Fixed assets | 21/28 | €750,269 | €979,782 | +€229,513 | +30.6% |
| Tangible fixed assets | 22/27 | €749,269 | €978,782 | +€229,513 | +30.6% |
| Land and buildings | 22 | €659,949 | €642,982 | -€16,966 | -2.6% |
| Plant, machinery and equipment | 23 | €5,620 | €3,757 | -€1,863 | -33.2% |
| Furniture and vehicles | 24 | €61,844 | €102,042 | +€40,198 | +65.0% |
| Other tangible fixed assets | 26 | €17,190 | €12,427 | -€4,763 | -27.7% |
| Assets under construction and advance payments | 27 | €4,667 | €217,574 | +€212,907 | +4,562% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €2,739,977 | €2,781,983 | +€42,006 | +1.5% |
| Amounts receivable within one year | 40/41 | €25,550 | €60,030 | +€34,481 | +135% |
| Trade receivables | 40 | - | €49,500 | +€49,500 | |
| Other amounts receivable | 41 | €25,550 | €10,530 | -€15,019 | -58.8% |
| Current investments | 50/53 | €2,624,369 | €2,692,704 | +€68,335 | +2.6% |
| Cash at bank and in hand | 54/58 | €85,850 | €26,426 | -€59,424 | -69.2% |
| Deferred charges and accrued income | 490/1 | €4,209 | €2,823 | -€1,386 | -32.9% |
| Total equity and liabilities | 10/49 | €3,490,247 | €3,761,766 | +€271,519 | +7.8% |
| Equity | 10/15 | €1,496,010 | €1,507,707 | +€11,697 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,468,023 | €1,479,721 | +€11,697 | +0.8% |
| Non-distributable reserves | 130/1 | €22,700 | €22,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,700 | €22,700 | = | 0.0% |
| Distributable reserves | 133 | €1,445,323 | €1,457,021 | +€11,697 | +0.8% |
| Profit (loss) carried forward | 14 | €9,386 | €9,386 | = | 0.0% |
| Amounts payable | 17/49 | €1,994,237 | €2,254,059 | +€259,822 | +13.0% |
| Amounts payable after more than one year | 17 | €12,835 | €34,167 | +€21,332 | +166% |
| Financial debts | 170/4 | €12,835 | €34,167 | +€21,332 | +166% |
| Amounts payable within one year | 42/48 | €1,981,402 | €2,219,892 | +€238,489 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €30,597 | €37,579 | +€6,982 | +22.8% |
| Financial debts | 43 | €345 | €2,077 | +€1,732 | +502% |
| Credit institutions | 430/8 | €345 | €2,077 | +€1,732 | +502% |
| Trade debts | 44 | €3,581 | €6,163 | +€2,582 | +72.1% |
| Suppliers | 440/4 | €3,581 | €6,163 | +€2,582 | +72.1% |
| Taxes, remuneration and social security | 45 | €2,312 | €28,698 | +€26,386 | +1,141% |
| Taxes | 450/3 | €2,312 | €28,698 | +€26,386 | +1,141% |
| Other amounts payable | 47/48 | €1,944,568 | €2,145,375 | +€200,807 | +10.3% |
| Non-recurring operating income | 76A | €700 | €4,780 | +€4,079 | +582% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,982 | €45,538 | -€444 | -1.0% |
| Other operating charges | 640/8 | €6,162 | €6,516 | +€354 | +5.7% |
| Gross operating margin | 9900 | €78,565 | €304,884 | +€226,319 | +288% |
| Operating profit (loss) | 9901 | €26,421 | €252,830 | +€226,409 | +857% |
| Financial income | 75/76B | €83,143 | €204,255 | +€121,112 | +146% |
| Recurring financial income | 75 | €83,143 | €76,647 | -€6,496 | -7.8% |
| Non-recurring financial income | 76B | - | €127,608 | +€127,608 | |
| Financial charges | 65/66B | €83,099 | €118,201 | +€35,102 | +42.2% |
| Recurring financial charges | 65 | €83,099 | €118,201 | +€35,102 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €26,465 | €338,883 | +€312,419 | +1,181% |
| Income taxes | 67/77 | €10,845 | €79,020 | +€68,175 | +629% |
| Profit (loss) for the period | 9904 | €15,620 | €259,864 | +€244,243 | +1,564% |
| Profit (loss) for the period to be appropriated | 9905 | €15,620 | €259,864 | +€244,243 | +1,564% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.