JR: what changed
Two fiscal 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.
JR
Largest movements
- Receivables within one year +€59,452
up €59,452 (+25.8%), from €230,249 to €289,701
- Cash -€15,686
down €15,686 (-47.8%), from €32,839 to €17,153
mainly Contributions, distributions and other (-€130,000) and Receivables within one year (-€59,452)
- Tangible fixed assets -€15,681
down €15,681 (-3.3%), from €469,401 to €453,720
of which Land and buildings: -€19,065
- Other debts +€130,000
new in 2025: €130,000
- Profit (loss) carried forward -€74,976
down €74,976 (-100.0%), from €74,976 to €0
- Reserves -€24,686
down €24,686 (-79.1%), from €31,227 to €6,541
of which Distributable reserves: -€24,686
- Gross operating margin +€39,465
up €39,465 (+105.9%), from €37,265 to €76,730
- Write-downs +€17,200
new in 2025: €17,200
- Taxes +€7,947
up €7,947 (+256.6%), from €3,097 to €11,044
- Other operating charges -€6,666
down €6,666 (-87.6%), from €7,608 to €942
- Financial income +€1,268
up €1,268 (+93.4%), from €1,358 to €2,626
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 | €733,284 | €760,682 | +€27,398 | +3.7% |
| Fixed assets | 21/28 | €469,401 | €453,720 | -€15,681 | -3.3% |
| Tangible fixed assets | 22/27 | €469,401 | €453,720 | -€15,681 | -3.3% |
| Land and buildings | 22 | €468,689 | €449,624 | -€19,065 | -4.1% |
| Plant, machinery and equipment | 23 | €712 | €179 | -€533 | -74.9% |
| Furniture and vehicles | 24 | - | €3,917 | +€3,917 | |
| Current assets | 29/58 | €263,883 | €306,962 | +€43,079 | +16.3% |
| Amounts receivable within one year | 40/41 | €230,249 | €289,701 | +€59,452 | +25.8% |
| Other amounts receivable | 41 | €230,249 | €289,701 | +€59,452 | +25.8% |
| Cash at bank and in hand | 54/58 | €32,839 | €17,153 | -€15,686 | -47.8% |
| Deferred charges and accrued income | 490/1 | €795 | €108 | -€687 | -86.4% |
| Total equity and liabilities | 10/49 | €733,284 | €760,682 | +€27,398 | +3.7% |
| Equity | 10/15 | €716,203 | €616,541 | -€99,662 | -13.9% |
| Contributions | 10/11 | €610,000 | €610,000 | = | 0.0% |
| Reserves | 13 | €31,227 | €6,541 | -€24,686 | -79.1% |
| Non-distributable reserves | 130/1 | €1,580 | €1,580 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,580 | €1,580 | = | 0.0% |
| Distributable reserves | 133 | €29,647 | €4,961 | -€24,686 | -83.3% |
| Profit (loss) carried forward | 14 | €74,976 | €0 | -€74,976 | -100.0% |
| Amounts payable | 17/49 | €17,081 | €144,141 | +€127,060 | +743.9% |
| Amounts payable within one year | 42/48 | €17,081 | €144,141 | +€127,060 | +743.9% |
| Trade debts | 44 | €617 | - | -€617 | |
| Suppliers | 440/4 | €617 | - | -€617 | |
| Taxes, remuneration and social security | 45 | €16,464 | €14,141 | -€2,323 | -14.1% |
| Taxes | 450/3 | €16,464 | €14,141 | -€2,323 | -14.1% |
| Other amounts payable | 47/48 | - | €130,000 | +€130,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,599 | €19,778 | +€179 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,200 | +€17,200 | |
| Other operating charges | 640/8 | €7,608 | €942 | -€6,666 | -87.6% |
| Gross operating margin | 9900 | €37,265 | €76,730 | +€39,465 | +105.9% |
| Operating profit (loss) | 9901 | €10,058 | €38,810 | +€28,752 | +285.9% |
| Financial income | 75/76B | €1,358 | €2,626 | +€1,268 | +93.4% |
| Recurring financial income | 75 | €1,358 | €2,626 | +€1,268 | +93.4% |
| Financial charges | 65/66B | €51 | €54 | +€3 | +5.9% |
| Recurring financial charges | 65 | €51 | €54 | +€3 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €11,365 | €41,382 | +€30,017 | +264.1% |
| Income taxes | 67/77 | €3,097 | €11,044 | +€7,947 | +256.6% |
| Profit (loss) for the period | 9904 | €8,268 | €30,338 | +€22,070 | +266.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,268 | €30,338 | +€22,070 | +266.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.