JRCO: 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.
JRCO
Largest movements
- Financial fixed assets -€209,100
down €209,100 (-91.3%), from €229,100 to €20,000
- Receivables within one year -€37,304
down €37,304 (-71.5%), from €52,209 to €14,905
of which Trade receivables: -€27,405
- Receivables after one year +€25,000
new in 2025: €25,000
- Cash +€20,862
up €20,862 (+156.9%), from €13,293 to €34,155
mainly Investment in fixed assets (net) (+€209,100) and Net result for the year (+€61,869)
- Tangible fixed assets -€5,325
down €5,325 (-18.5%), from €28,859 to €23,534
of which Other tangible fixed assets: -€4,276
- Debts after one year -€190,791
down €190,791 (-92.1%), from €207,066 to €16,275
of which Financial debts: -€156,691
- Current portion of long-term debt -€27,413
down €27,413 (-88.7%), from €30,913 to €3,500
- Profit (loss) carried forward +€19,869
up €19,869 (+108.4%), from €18,322 to €38,192
- Other debts -€5,495
down €5,495 (-18.3%), from €30,000 to €24,505
- Gross operating margin +€16,127
up €16,127 (+20.8%), from €77,460 to €93,586
- Financial charges +€2,039
up €2,039 (+26.9%), from €7,579 to €9,618
- Financial income -€1,397
down €1,397 (-63.1%), from €2,215 to €818
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 | €324,875 | €119,364 | -€205,511 | -63.3% |
| Fixed assets | 21/28 | €257,959 | €43,534 | -€214,425 | -83.1% |
| Tangible fixed assets | 22/27 | €28,859 | €23,534 | -€5,325 | -18.5% |
| Furniture and vehicles | 24 | €4,301 | €3,252 | -€1,049 | -24.4% |
| Other tangible fixed assets | 26 | €24,558 | €20,282 | -€4,276 | -17.4% |
| Financial fixed assets | 28 | €229,100 | €20,000 | -€209,100 | -91.3% |
| Current assets | 29/58 | €66,916 | €75,830 | +€8,915 | +13.3% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €52,209 | €14,905 | -€37,304 | -71.5% |
| Trade receivables | 40 | €42,310 | €14,905 | -€27,405 | -64.8% |
| Other amounts receivable | 41 | €9,899 | €0 | -€9,899 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,293 | €34,155 | +€20,862 | +156.9% |
| Deferred charges and accrued income | 490/1 | €1,414 | €1,770 | +€356 | +25.2% |
| Total equity and liabilities | 10/49 | €324,875 | €119,364 | -€205,511 | -63.3% |
| Equity | 10/15 | €36,922 | €56,792 | +€19,869 | +53.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,322 | €38,192 | +€19,869 | +108.4% |
| Amounts payable | 17/49 | €287,952 | €62,572 | -€225,380 | -78.3% |
| Amounts payable after more than one year | 17 | €207,066 | €16,275 | -€190,791 | -92.1% |
| Financial debts | 170/4 | €172,966 | €16,275 | -€156,691 | -90.6% |
| Other amounts payable | 178/9 | €34,100 | €0 | -€34,100 | -100.0% |
| Amounts payable within one year | 42/48 | €80,229 | €46,233 | -€33,997 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €30,913 | €3,500 | -€27,413 | -88.7% |
| Financial debts | 43 | €3,027 | €3,089 | +€62 | +2.1% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €3,027 | €3,089 | +€62 | +2.1% |
| Trade debts | 44 | €1,286 | €1,189 | -€97 | -7.6% |
| Suppliers | 440/4 | €1,286 | €1,189 | -€97 | -7.6% |
| Taxes, remuneration and social security | 45 | €15,003 | €13,949 | -€1,054 | -7.0% |
| Taxes | 450/3 | €14,059 | €12,980 | -€1,080 | -7.7% |
| Remuneration and social security | 454/9 | €944 | €970 | +€26 | +2.7% |
| Other amounts payable | 47/48 | €30,000 | €24,505 | -€5,495 | -18.3% |
| Accrued charges and deferred income | 492/3 | €657 | €64 | -€593 | -90.2% |
| Non-recurring operating income | 76A | €0 | €20,900 | +€20,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,033 | €5,325 | +€292 | +5.8% |
| Other operating charges | 640/8 | €849 | €622 | -€226 | -26.7% |
| Non-recurring operating charges | 66A | €69 | €0 | -€69 | -100.0% |
| Gross operating margin | 9900 | €77,460 | €93,586 | +€16,127 | +20.8% |
| Operating profit (loss) | 9901 | €71,510 | €87,639 | +€16,130 | +22.6% |
| Financial income | 75/76B | €2,215 | €818 | -€1,397 | -63.1% |
| Recurring financial income | 75 | €2,215 | €818 | -€1,397 | -63.1% |
| Financial charges | 65/66B | €7,579 | €9,618 | +€2,039 | +26.9% |
| Recurring financial charges | 65 | €7,579 | €9,618 | +€2,039 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €66,146 | €78,839 | +€12,693 | +19.2% |
| Income taxes | 67/77 | €17,823 | €16,969 | -€854 | -4.8% |
| Profit (loss) for the period | 9904 | €48,322 | €61,869 | +€13,547 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,322 | €61,869 | +€13,547 | +28.0% |
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 9 October 2026 via checked.be.