JOS STUBBE: 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.
JOS STUBBE
Largest movements
- Receivables within one year +€13,409
up €13,409 (+13.9%), from €96,422 to €109,830
of which Other amounts receivable: +€19,384
- Tangible fixed assets -€7,410
down €7,410 (-26.8%), from €27,643 to €20,234
of which Other tangible fixed assets: -€3,778
- Deferred charges and accrued income -€3,630
down €3,630 (-22.2%), from €16,335 to €12,705
- Reserves +€40,503
up €40,503 (+312%), from €13,000 to €53,503
of which Distributable reserves: +€40,000
- Tax, wage and social debts -€32,083
down €32,083 (-46.3%), from €69,327 to €37,244
of which Taxes: -€29,390
- Accrued charges and deferred income -€9,543
down €9,543 (-71.3%), from €13,385 to €3,842
- Debts after one year -€6,293
down €6,293 (-92.2%), from €6,825 to €532
- Trade debts +€5,981
up €5,981 (+111%), from €5,371 to €11,351
- Gross operating margin +€56,761
up €56,761 (+60.5%), from €93,881 to €150,642
- Financial charges +€8,752
up €8,752 (+225%), from €3,898 to €12,650
- Taxes +€6,255
up €6,255 (+39.7%), from €15,745 to €22,000
- Depreciation +€3,775
up €3,775 (+40.3%), from €9,373 to €13,148
- Staff costs +€2,945
up €2,945 (+5.2%), from €57,136 to €60,081
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 | €142,526 | €144,313 | +€1,787 | +1.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €27,643 | €20,234 | -€7,410 | -26.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €27,643 | €20,234 | -€7,410 | -26.8% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €639 | €33 | -€606 | -94.9% |
| Furniture and vehicles | 24 | €23,227 | €20,201 | -€3,025 | -13.0% |
| Other tangible fixed assets | 26 | €3,778 | €0 | -€3,778 | -100% |
| Current assets | 29/58 | €114,882 | €124,079 | +€9,196 | +8.0% |
| Amounts receivable within one year | 40/41 | €96,422 | €109,830 | +€13,409 | +13.9% |
| Trade receivables | 40 | €21,045 | €15,070 | -€5,975 | -28.4% |
| Other amounts receivable | 41 | €75,376 | €94,760 | +€19,384 | +25.7% |
| Cash at bank and in hand | 54/58 | €2,126 | €1,543 | -€583 | -27.4% |
| Deferred charges and accrued income | 490/1 | €16,335 | €12,705 | -€3,630 | -22.2% |
| Total equity and liabilities | 10/49 | €142,526 | €144,313 | +€1,787 | +1.3% |
| Equity | 10/15 | €41,491 | €85,050 | +€43,559 | +105% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €13,000 | €53,503 | +€40,503 | +312% |
| Non-distributable reserves | 130/1 | - | €503 | +€503 | |
| Legal reserve | 130 | - | €503 | +€503 | |
| Tax-exempt reserves | 132 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €0 | €40,000 | +€40,000 | |
| Profit (loss) carried forward | 14 | -€33,509 | -€30,453 | +€3,056 | +9.1% |
| Amounts payable | 17/49 | €101,034 | €59,263 | -€41,772 | -41.3% |
| Amounts payable after more than one year | 17 | €6,825 | €532 | -€6,293 | -92.2% |
| Financial debts | 170/4 | €6,825 | €532 | -€6,293 | -92.2% |
| Amounts payable within one year | 42/48 | €80,824 | €54,888 | -€25,936 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €6,126 | €6,293 | +€167 | +2.7% |
| Trade debts | 44 | €5,371 | €11,351 | +€5,981 | +111% |
| Suppliers | 440/4 | €5,371 | €11,351 | +€5,981 | +111% |
| Taxes, remuneration and social security | 45 | €69,327 | €37,244 | -€32,083 | -46.3% |
| Taxes | 450/3 | €55,515 | €26,125 | -€29,390 | -52.9% |
| Remuneration and social security | 454/9 | €13,812 | €11,119 | -€2,693 | -19.5% |
| Accrued charges and deferred income | 492/3 | €13,385 | €3,842 | -€9,543 | -71.3% |
| Remuneration, social security and pensions | 62 | €57,136 | €60,081 | +€2,945 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,373 | €13,148 | +€3,775 | +40.3% |
| Other operating charges | 640/8 | €1,598 | €3,816 | +€2,218 | +139% |
| Gross operating margin | 9900 | €93,881 | €150,642 | +€56,761 | +60.5% |
| Operating profit (loss) | 9901 | €25,775 | €73,598 | +€47,823 | +186% |
| Financial income | 75/76B | €4,468 | €4,610 | +€142 | +3.2% |
| Recurring financial income | 75 | €4,468 | €4,610 | +€142 | +3.2% |
| Financial charges | 65/66B | €3,898 | €12,650 | +€8,752 | +225% |
| Recurring financial charges | 65 | €3,898 | €12,650 | +€8,752 | +225% |
| Profit (loss) for the period before taxes | 9903 | €26,346 | €65,559 | +€39,213 | +149% |
| Income taxes | 67/77 | €15,745 | €22,000 | +€6,255 | +39.7% |
| Profit (loss) for the period | 9904 | €10,600 | €43,559 | +€32,958 | +311% |
| Profit (loss) for the period to be appropriated | 9905 | €10,600 | €43,559 | +€32,958 | +311% |
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 21 October 2026 via checked.be.