JRD: 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.
JRD
Largest movements
- Receivables within one year +€51,963
up €51,963 (+198.6%), from €26,164 to €78,127
- Cash +€37,504
up €37,504 (+124.8%), from €30,041 to €67,545
mainly Other debts (+€134,983) and Trade debts (+€63,281)
- Deferred charges and accrued income +€34,319
up €34,319 (+4929.7%), from €696 to €35,015
- Tangible fixed assets +€8,259
up €8,259 (+28.1%), from €29,386 to €37,645
of which Plant, machinery and equipment: +€22,646
- Stocks and contracts +€4,300
up €4,300 (+23.2%), from €18,500 to €22,800
- Other debts +€134,983
up €134,983 (+367.4%), from €36,738 to €171,721
- Profit (loss) carried forward -€77,851
new in 2025: -€77,851
- Trade debts +€63,281
up €63,281 (+164.5%), from €38,470 to €101,751
- Tax, wage and social debts +€14,513
up €14,513 (+77.3%), from €18,772 to €33,285
of which Remuneration and social security: +€15,822
- Accrued charges and deferred income +€14,000
new in 2025: €14,000
- Staff costs +€147,594
up €147,594 (+459.9%), from €32,094 to €179,688
- Gross operating margin +€53,365
up €53,365 (+98.3%), from €54,279 to €107,645
- Financial charges +€3,424
up €3,424 (+157.9%), from €2,168 to €5,592
- Depreciation -€2,304
down €2,304 (-25.8%), from €8,932 to €6,627
- Other operating charges +€1,971
up €1,971 (+169.4%), from €1,164 to €3,135
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 | €104,787 | €245,406 | +€140,619 | +134.2% |
| Fixed assets | 21/28 | €29,386 | €41,920 | +€12,534 | +42.7% |
| Tangible fixed assets | 22/27 | €29,386 | €37,645 | +€8,259 | +28.1% |
| Plant, machinery and equipment | 23 | €6,449 | €29,095 | +€22,646 | +351.2% |
| Furniture and vehicles | 24 | €22,937 | €8,550 | -€14,388 | -62.7% |
| Financial fixed assets | 28 | - | €4,275 | +€4,275 | |
| Current assets | 29/58 | €75,401 | €203,487 | +€128,086 | +169.9% |
| Stocks and contracts in progress | 3 | €18,500 | €22,800 | +€4,300 | +23.2% |
| Stocks | 30/36 | €18,500 | €22,800 | +€4,300 | +23.2% |
| Amounts receivable within one year | 40/41 | €26,164 | €78,127 | +€51,963 | +198.6% |
| Trade receivables | 40 | €26,164 | €78,127 | +€51,963 | +198.6% |
| Cash at bank and in hand | 54/58 | €30,041 | €67,545 | +€37,504 | +124.8% |
| Deferred charges and accrued income | 490/1 | €696 | €35,015 | +€34,319 | +4929.7% |
| Total equity and liabilities | 10/49 | €104,787 | €245,406 | +€140,619 | +134.2% |
| Equity | 10/15 | €10,806 | -€75,351 | -€86,157 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €8,306 | €0 | -€8,306 | -100.0% |
| Distributable reserves | 133 | €8,306 | €0 | -€8,306 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€77,851 | -€77,851 | |
| Amounts payable | 17/49 | €93,981 | €320,757 | +€226,776 | +241.3% |
| Amounts payable within one year | 42/48 | €93,981 | €306,757 | +€212,776 | +226.4% |
| Trade debts | 44 | €38,470 | €101,751 | +€63,281 | +164.5% |
| Suppliers | 440/4 | €38,470 | €101,751 | +€63,281 | +164.5% |
| Taxes, remuneration and social security | 45 | €18,772 | €33,285 | +€14,513 | +77.3% |
| Taxes | 450/3 | €12,205 | €10,896 | -€1,309 | -10.7% |
| Remuneration and social security | 454/9 | €6,567 | €22,389 | +€15,822 | +240.9% |
| Other amounts payable | 47/48 | €36,738 | €171,721 | +€134,983 | +367.4% |
| Accrued charges and deferred income | 492/3 | - | €14,000 | +€14,000 | |
| Non-recurring operating income | 76A | - | €3,312 | +€3,312 | |
| Remuneration, social security and pensions | 62 | €32,094 | €179,688 | +€147,594 | +459.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,932 | €6,627 | -€2,304 | -25.8% |
| Other operating charges | 640/8 | €1,164 | €3,135 | +€1,971 | +169.4% |
| Non-recurring operating charges | 66A | €7,000 | €0 | -€7,000 | -100.0% |
| Gross operating margin | 9900 | €54,279 | €107,645 | +€53,365 | +98.3% |
| Operating profit (loss) | 9901 | €5,090 | -€81,805 | -€86,895 | |
| Financial income | 75/76B | €73 | €1,237 | +€1,165 | +1596.7% |
| Recurring financial income | 75 | €73 | €1,237 | +€1,165 | +1596.7% |
| Financial charges | 65/66B | €2,168 | €5,592 | +€3,424 | +157.9% |
| Recurring financial charges | 65 | €2,168 | €5,592 | +€3,424 | +157.9% |
| Profit (loss) for the period before taxes | 9903 | €2,995 | -€86,160 | -€89,155 | |
| Income taxes | 67/77 | €1,181 | -€3 | -€1,183 | |
| Profit (loss) for the period | 9904 | €1,814 | -€86,157 | -€87,971 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,814 | -€86,157 | -€87,971 |
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 7 October 2026 via checked.be.