JR Insight: 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.
JR Insight
Largest movements
- Receivables after one year -€42,300
no longer reported in 2025 (was €42,300)
- Cash +€16,701
up €16,701 (+108%), from €15,474 to €32,175
mainly Net result for the year (+€44,414) and Receivables after one year (+€42,300)
- Tangible fixed assets -€11,750
down €11,750 (-5.4%), from €217,318 to €205,568
of which Land and buildings: -€11,375
- Profit (loss) carried forward -€22,586
down €22,586 (-15.3%), from €147,886 to €125,300
- Other debts -€17,066
down €17,066 (-17.1%), from €100,028 to €82,963
- Financial charges +€43,971
up €43,971 (+94,929%), from €46 to €44,017
- Provisions -€30,838
down €30,838, from €30,747 to -€90
- Depreciation -€28,172
down €28,172 (-69.1%), from €40,797 to €12,625
- Gross operating margin -€8,156
down €8,156 (-6.6%), from €123,728 to €115,572
- Taxes -€4,898
down €4,898 (-27.7%), from €17,673 to €12,774
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 | €298,277 | €259,715 | -€38,562 | -12.9% |
| Fixed assets | 21/28 | €217,318 | €205,568 | -€11,750 | -5.4% |
| Tangible fixed assets | 22/27 | €217,318 | €205,568 | -€11,750 | -5.4% |
| Land and buildings | 22 | €214,878 | €203,503 | -€11,375 | -5.3% |
| Furniture and vehicles | 24 | €2,440 | €2,065 | -€375 | -15.4% |
| Current assets | 29/58 | €80,959 | €54,147 | -€26,812 | -33.1% |
| Amounts receivable after more than one year | 29 | €42,300 | - | -€42,300 | |
| Other amounts receivable | 291 | €42,300 | - | -€42,300 | |
| Amounts receivable within one year | 40/41 | €21,353 | €20,861 | -€492 | -2.3% |
| Trade receivables | 40 | €19,952 | €18,513 | -€1,439 | -7.2% |
| Other amounts receivable | 41 | €1,402 | €2,348 | +€947 | +67.5% |
| Cash at bank and in hand | 54/58 | €15,474 | €32,175 | +€16,701 | +108% |
| Deferred charges and accrued income | 490/1 | €1,832 | €1,111 | -€722 | -39.4% |
| Total equity and liabilities | 10/49 | €298,277 | €259,715 | -€38,562 | -12.9% |
| Equity | 10/15 | €157,886 | €135,300 | -€22,586 | -14.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,886 | €125,300 | -€22,586 | -15.3% |
| Provisions and deferred taxes | 16 | €30,747 | €30,657 | -€90 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €30,747 | €30,657 | -€90 | -0.3% |
| Other liabilities and charges | 164/5 | €30,747 | €30,657 | -€90 | -0.3% |
| Amounts payable | 17/49 | €109,643 | €93,757 | -€15,886 | -14.5% |
| Amounts payable within one year | 42/48 | €109,643 | €93,757 | -€15,886 | -14.5% |
| Trade debts | 44 | €539 | - | -€539 | |
| Suppliers | 440/4 | €539 | - | -€539 | |
| Taxes, remuneration and social security | 45 | €9,076 | €10,795 | +€1,718 | +18.9% |
| Taxes | 450/3 | €9,076 | €10,795 | +€1,718 | +18.9% |
| Other amounts payable | 47/48 | €100,028 | €82,963 | -€17,066 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,797 | €12,625 | -€28,172 | -69.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €30,747 | -€90 | -€30,838 | |
| Other operating charges | 640/8 | €1,775 | €1,831 | +€57 | +3.2% |
| Gross operating margin | 9900 | €123,728 | €115,572 | -€8,156 | -6.6% |
| Operating profit (loss) | 9901 | €50,408 | €101,206 | +€50,798 | +101% |
| Financial income | 75/76B | €740 | - | -€740 | |
| Recurring financial income | 75 | €740 | - | -€740 | |
| Financial charges | 65/66B | €46 | €44,017 | +€43,971 | +94,929% |
| Recurring financial charges | 65 | €46 | €44,017 | +€43,971 | +94,929% |
| Profit (loss) for the period before taxes | 9903 | €51,102 | €57,188 | +€6,086 | +11.9% |
| Income taxes | 67/77 | €17,673 | €12,774 | -€4,898 | -27.7% |
| Profit (loss) for the period | 9904 | €33,430 | €44,414 | +€10,984 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,430 | €44,414 | +€10,984 | +32.9% |
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 1 November 2026 via checked.be.