JUAL: 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.
JUAL
Largest movements
- Cash -€66,130
down €66,130 (-77.2%), from €85,655 to €19,524
mainly Investment in fixed assets (net) (-€72,082) and Net result for the year (-€59,528)
- Tangible fixed assets +€27,560
up €27,560 (+3.6%), from €769,795 to €797,355
of which Land and buildings: +€37,736
- Reserves -€59,528
down €59,528 (-29.2%), from €203,692 to €144,163
of which Distributable reserves: -€59,528
- Other debts +€40,087
up €40,087 (+22.8%), from €175,881 to €215,967
- Debts after one year -€20,009
down €20,009 (-8.0%), from €251,667 to €231,658
- Gross operating margin -€17,832
down €17,832 (-80.1%), from €22,264 to €4,431
- Other operating charges +€4,652
up €4,652 (+84.9%), from €5,480 to €10,133
- Financial charges +€2,515
up €2,515 (+44.2%), from €5,693 to €8,209
- Depreciation +€2,095
up €2,095 (+4.9%), from €42,426 to €44,521
- Taxes +€700
up €700 (+120.2%), from €582 to €1,283
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 | €855,450 | €816,880 | -€38,570 | -4.5% |
| Fixed assets | 21/28 | €769,795 | €797,355 | +€27,560 | +3.6% |
| Tangible fixed assets | 22/27 | €769,795 | €797,355 | +€27,560 | +3.6% |
| Land and buildings | 22 | €514,605 | €552,341 | +€37,736 | +7.3% |
| Plant, machinery and equipment | 23 | €3,434 | €8,465 | +€5,031 | +146.5% |
| Furniture and vehicles | 24 | €4,340 | €3,877 | -€462 | -10.7% |
| Other tangible fixed assets | 26 | €247,417 | €232,672 | -€14,745 | -6.0% |
| Current assets | 29/58 | €85,655 | €19,524 | -€66,130 | -77.2% |
| Cash at bank and in hand | 54/58 | €85,655 | €19,524 | -€66,130 | -77.2% |
| Total equity and liabilities | 10/49 | €855,450 | €816,880 | -€38,570 | -4.5% |
| Equity | 10/15 | €406,964 | €347,436 | -€59,528 | -14.6% |
| Contributions | 10/11 | €203,273 | €203,273 | = | 0.0% |
| Capital | 10 | €203,273 | €203,273 | = | 0.0% |
| Issued capital | 100 | €203,273 | €203,273 | = | 0.0% |
| Reserves | 13 | €203,692 | €144,163 | -€59,528 | -29.2% |
| Non-distributable reserves | 130/1 | €7,100 | €7,100 | = | 0.0% |
| Legal reserve | 130 | €7,100 | €7,100 | = | 0.0% |
| Distributable reserves | 133 | €196,592 | €137,063 | -€59,528 | -30.3% |
| Amounts payable | 17/49 | €448,485 | €469,444 | +€20,958 | +4.7% |
| Amounts payable after more than one year | 17 | €251,667 | €231,658 | -€20,009 | -8.0% |
| Financial debts | 170/4 | €251,667 | €231,658 | -€20,009 | -8.0% |
| Amounts payable within one year | 42/48 | €196,818 | €237,786 | +€40,967 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €19,979 | €20,009 | +€30 | +0.1% |
| Taxes, remuneration and social security | 45 | €959 | €1,809 | +€851 | +88.8% |
| Taxes | 450/3 | €959 | €1,809 | +€851 | +88.8% |
| Other amounts payable | 47/48 | €175,881 | €215,967 | +€40,087 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,426 | €44,521 | +€2,095 | +4.9% |
| Other operating charges | 640/8 | €5,480 | €10,133 | +€4,652 | +84.9% |
| Gross operating margin | 9900 | €22,264 | €4,431 | -€17,832 | -80.1% |
| Operating profit (loss) | 9901 | -€25,643 | -€50,223 | -€24,580 | -95.9% |
| Financial income | 75/76B | - | €186 | +€186 | |
| Recurring financial income | 75 | - | €186 | +€186 | |
| Financial charges | 65/66B | €5,693 | €8,209 | +€2,515 | +44.2% |
| Recurring financial charges | 65 | €5,693 | €8,209 | +€2,515 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,336 | -€58,246 | -€26,909 | -85.9% |
| Income taxes | 67/77 | €582 | €1,283 | +€700 | +120.2% |
| Profit (loss) for the period | 9904 | -€31,919 | -€59,528 | -€27,610 | -86.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,919 | -€59,528 | -€27,610 | -86.5% |
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 3 October 2026 via checked.be.