JR management: 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 management
Largest movements
- Cash -€40,977
down €40,977 (-85.6%), from €47,868 to €6,891
mainly Net result for the year (-€27,649) and Other debts (-€14,268)
- Tangible fixed assets -€18,443
down €18,443 (-34.0%), from €54,287 to €35,843
of which Furniture and vehicles: -€15,982
- Receivables within one year +€11,715
up €11,715 (+7.4%), from €158,284 to €169,998
of which Other amounts receivable: +€9,797
- Profit (loss) carried forward -€27,649
down €27,649, from €18,881 to -€8,768
- Other debts -€14,268
down €14,268 (-5.3%), from €271,491 to €257,223
- Trade debts -€5,929
down €5,929 (-71.5%), from €8,298 to €2,369
- Gross operating margin +€15,781
up €15,781 (+64.5%), from -€24,459 to -€8,678
- Depreciation -€2,375
down €2,375 (-11.4%), from €20,818 to €18,443
- Taxes -€735
down €735 (-68.3%), from €1,077 to €342
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 | €312,147 | €263,566 | -€48,581 | -15.6% |
| Fixed assets | 21/28 | €105,120 | €86,676 | -€18,443 | -17.5% |
| Tangible fixed assets | 22/27 | €54,287 | €35,843 | -€18,443 | -34.0% |
| Land and buildings | 22 | €17,750 | €15,289 | -€2,461 | -13.9% |
| Furniture and vehicles | 24 | €36,536 | €20,555 | -€15,982 | -43.7% |
| Financial fixed assets | 28 | €50,833 | €50,833 | = | 0.0% |
| Current assets | 29/58 | €207,027 | €176,889 | -€30,138 | -14.6% |
| Amounts receivable within one year | 40/41 | €158,284 | €169,998 | +€11,715 | +7.4% |
| Trade receivables | 40 | €8,582 | €10,500 | +€1,918 | +22.3% |
| Other amounts receivable | 41 | €149,701 | €159,498 | +€9,797 | +6.5% |
| Cash at bank and in hand | 54/58 | €47,868 | €6,891 | -€40,977 | -85.6% |
| Deferred charges and accrued income | 490/1 | €875 | €0 | -€875 | -100% |
| Total equity and liabilities | 10/49 | €312,147 | €263,566 | -€48,581 | -15.6% |
| Equity | 10/15 | €31,281 | €3,632 | -€27,649 | -88.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,881 | -€8,768 | -€27,649 | |
| Amounts payable | 17/49 | €280,866 | €259,934 | -€20,932 | -7.5% |
| Amounts payable within one year | 42/48 | €280,866 | €259,934 | -€20,932 | -7.5% |
| Trade debts | 44 | €8,298 | €2,369 | -€5,929 | -71.5% |
| Suppliers | 440/4 | €8,298 | €2,369 | -€5,929 | -71.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,077 | €342 | -€735 | -68.3% |
| Taxes | 450/3 | €1,077 | €342 | -€735 | -68.3% |
| Other amounts payable | 47/48 | €271,491 | €257,223 | -€14,268 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,818 | €18,443 | -€2,375 | -11.4% |
| Gross operating margin | 9900 | -€24,459 | -€8,678 | +€15,781 | +64.5% |
| Operating profit (loss) | 9901 | -€45,277 | -€27,121 | +€18,156 | +40.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €242 | €186 | -€56 | -23.3% |
| Recurring financial charges | 65 | €242 | €186 | -€56 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€45,518 | -€27,307 | +€18,211 | +40.0% |
| Income taxes | 67/77 | €1,077 | €342 | -€735 | -68.3% |
| Profit (loss) for the period | 9904 | -€46,595 | -€27,649 | +€18,946 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,595 | -€27,649 | +€18,946 | +40.7% |
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 17 October 2026 via checked.be.