JRN: 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.
JRN
Largest movements
- Tangible fixed assets +€46,693
up €46,693 (+93.5%), from €49,957 to €96,649
of which Leasing and similar rights: +€52,234
- Cash -€27,528
down €27,528 (-67.4%), from €40,818 to €13,290
mainly Contributions, distributions and other (-€73,199) and Investment in fixed assets (net) (-€69,856)
- Receivables within one year +€10,679
up €10,679 (+44.2%), from €24,154 to €34,832
of which Trade receivables: +€7,865
- Debts after one year +€30,151
new in 2025: €30,151
- Reserves -€16,500
down €16,500 (-36.1%), from €45,729 to €29,229
of which Distributable reserves: -€16,500
- Current portion of long-term debt +€8,900
up €8,900, from €0 to €8,900
- Tax, wage and social debts +€3,366
up €3,366 (+51.7%), from €6,511 to €9,878
- Other debts +€2,685
up €2,685 (+4.4%), from €61,185 to €63,869
- Gross operating margin +€6,585
up €6,585 (+7.1%), from €92,670 to €99,255
- Depreciation +€6,457
up €6,457 (+38.6%), from €16,707 to €23,163
- Other operating charges +€1,575
up €1,575 (+137%), from €1,149 to €2,724
- Financial charges +€1,300
up €1,300 (+1,190%), from €109 to €1,410
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 | €116,381 | €146,611 | +€30,230 | +26.0% |
| Fixed assets | 21/28 | €49,957 | €96,649 | +€46,693 | +93.5% |
| Tangible fixed assets | 22/27 | €49,957 | €96,649 | +€46,693 | +93.5% |
| Plant, machinery and equipment | 23 | €1,710 | €2,397 | +€687 | +40.1% |
| Furniture and vehicles | 24 | €48,246 | €42,019 | -€6,228 | -12.9% |
| Leasing and similar rights | 25 | €0 | €52,234 | +€52,234 | |
| Current assets | 29/58 | €66,424 | €49,962 | -€16,463 | -24.8% |
| Amounts receivable within one year | 40/41 | €24,154 | €34,832 | +€10,679 | +44.2% |
| Trade receivables | 40 | €16,874 | €24,739 | +€7,865 | +46.6% |
| Other amounts receivable | 41 | €7,280 | €10,094 | +€2,814 | +38.7% |
| Cash at bank and in hand | 54/58 | €40,818 | €13,290 | -€27,528 | -67.4% |
| Deferred charges and accrued income | 490/1 | €1,452 | €1,839 | +€387 | +26.6% |
| Total equity and liabilities | 10/49 | €116,381 | €146,611 | +€30,230 | +26.0% |
| Equity | 10/15 | €46,729 | €30,229 | -€16,500 | -35.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,729 | €29,229 | -€16,500 | -36.1% |
| Tax-exempt reserves | 132 | €1,744 | €1,744 | = | 0.0% |
| Distributable reserves | 133 | €43,986 | €27,486 | -€16,500 | -37.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,652 | €116,382 | +€46,730 | +67.1% |
| Amounts payable after more than one year | 17 | - | €30,151 | +€30,151 | |
| Financial debts | 170/4 | - | €30,151 | +€30,151 | |
| Amounts payable within one year | 42/48 | €69,652 | €86,231 | +€16,579 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €8,900 | +€8,900 | |
| Financial debts | 43 | €513 | €1,942 | +€1,429 | +278% |
| Credit institutions | 430/8 | €513 | €1,942 | +€1,429 | +278% |
| Trade debts | 44 | €1,442 | €1,642 | +€199 | +13.8% |
| Suppliers | 440/4 | €1,442 | €1,642 | +€199 | +13.8% |
| Taxes, remuneration and social security | 45 | €6,511 | €9,878 | +€3,366 | +51.7% |
| Taxes | 450/3 | €6,511 | €9,878 | +€3,366 | +51.7% |
| Other amounts payable | 47/48 | €61,185 | €63,869 | +€2,685 | +4.4% |
| Non-recurring operating income | 76A | - | €18,255 | +€18,255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,707 | €23,163 | +€6,457 | +38.6% |
| Other operating charges | 640/8 | €1,149 | €2,724 | +€1,575 | +137% |
| Gross operating margin | 9900 | €92,670 | €99,255 | +€6,585 | +7.1% |
| Operating profit (loss) | 9901 | €74,814 | €73,368 | -€1,446 | -1.9% |
| Financial income | 75/76B | €6 | €83 | +€78 | +1,418% |
| Recurring financial income | 75 | €6 | €83 | +€78 | +1,418% |
| Financial charges | 65/66B | €109 | €1,410 | +€1,300 | +1,190% |
| Recurring financial charges | 65 | €109 | €1,410 | +€1,300 | +1,190% |
| Profit (loss) for the period before taxes | 9903 | €74,710 | €72,042 | -€2,669 | -3.6% |
| Income taxes | 67/77 | €15,548 | €15,342 | -€205 | -1.3% |
| Profit (loss) for the period | 9904 | €59,163 | €56,699 | -€2,464 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,163 | €56,699 | -€2,464 | -4.2% |
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 14 October 2026 via checked.be.