JUAS: 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.
JUAS
Largest movements
- Tangible fixed assets +€653,843
up €653,843 (+40.0%), from €1.6m to €2.3m
of which Land and buildings: +€649,858
- Receivables within one year -€328,210
down €328,210 (-60.5%), from €542,191 to €213,981
of which Trade receivables: -€310,332
- Current investments +€85,670
up €85,670 (+75.1%), from €114,050 to €199,720
- Cash -€43,186
down €43,186 (-39.4%), from €109,515 to €66,329
mainly Investment in fixed assets (net) (-€888,484) and Contributions, distributions and other (-€185,000)
- Reserves +€275,505
up €275,505 (+16.1%), from €1.7m to €2.0m
- Debts after one year +€48,497
up €48,497 (+5.9%), from €818,134 to €866,631
- Gross operating margin +€125,120
up €125,120 (+18.3%), from €683,102 to €808,222
- Financial income +€51,330
up €51,330 (+299%), from €17,149 to €68,479
- Depreciation +€38,019
up €38,019 (+19.3%), from €196,622 to €234,641
- Taxes +€20,651
up €20,651 (+18.4%), from €112,245 to €132,896
- Financial charges +€18,978
up €18,978 (+76.5%), from €24,811 to €43,789
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 | €3,125,573 | €3,493,255 | +€367,682 | +11.8% |
| Fixed assets | 21/28 | €2,357,204 | €3,011,047 | +€653,843 | +27.7% |
| Tangible fixed assets | 22/27 | €1,634,204 | €2,288,047 | +€653,843 | +40.0% |
| Land and buildings | 22 | €1,517,623 | €2,167,481 | +€649,858 | +42.8% |
| Furniture and vehicles | 24 | €116,581 | €120,566 | +€3,985 | +3.4% |
| Financial fixed assets | 28 | €723,000 | €723,000 | = | 0.0% |
| Current assets | 29/58 | €768,369 | €482,208 | -€286,161 | -37.2% |
| Amounts receivable within one year | 40/41 | €542,191 | €213,981 | -€328,210 | -60.5% |
| Trade receivables | 40 | €422,191 | €111,859 | -€310,332 | -73.5% |
| Other amounts receivable | 41 | €120,000 | €102,122 | -€17,878 | -14.9% |
| Current investments | 50/53 | €114,050 | €199,720 | +€85,670 | +75.1% |
| Cash at bank and in hand | 54/58 | €109,515 | €66,329 | -€43,186 | -39.4% |
| Deferred charges and accrued income | 490/1 | €2,613 | €2,177 | -€436 | -16.7% |
| Total equity and liabilities | 10/49 | €3,125,573 | €3,493,255 | +€367,682 | +11.8% |
| Equity | 10/15 | €1,816,067 | €2,091,572 | +€275,505 | +15.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,716,067 | €1,991,572 | +€275,505 | +16.1% |
| Distributable reserves | 133 | €1,716,067 | €1,991,572 | +€275,505 | +16.1% |
| Amounts payable | 17/49 | €1,309,506 | €1,401,683 | +€92,177 | +7.0% |
| Amounts payable after more than one year | 17 | €818,134 | €866,631 | +€48,497 | +5.9% |
| Financial debts | 170/4 | €818,134 | €866,631 | +€48,497 | +5.9% |
| Amounts payable within one year | 42/48 | €478,832 | €501,146 | +€22,314 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €56,504 | €56,504 | -€0 | 0.0% |
| Trade debts | 44 | €3,261 | - | -€3,261 | |
| Suppliers | 440/4 | €3,261 | - | -€3,261 | |
| Taxes, remuneration and social security | 45 | €12,000 | €39,932 | +€27,932 | +233% |
| Taxes | 450/3 | €12,000 | €39,932 | +€27,932 | +233% |
| Other amounts payable | 47/48 | €407,067 | €404,710 | -€2,357 | -0.6% |
| Accrued charges and deferred income | 492/3 | €12,540 | €33,905 | +€21,365 | +170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,622 | €234,641 | +€38,019 | +19.3% |
| Other operating charges | 640/8 | €8,081 | €4,870 | -€3,211 | -39.7% |
| Gross operating margin | 9900 | €683,102 | €808,222 | +€125,120 | +18.3% |
| Operating profit (loss) | 9901 | €478,399 | €568,711 | +€90,312 | +18.9% |
| Financial income | 75/76B | €17,149 | €68,479 | +€51,330 | +299% |
| Recurring financial income | 75 | €17,149 | €68,479 | +€51,330 | +299% |
| Financial charges | 65/66B | €24,811 | €43,789 | +€18,978 | +76.5% |
| Recurring financial charges | 65 | €24,811 | €43,789 | +€18,978 | +76.5% |
| Profit (loss) for the period before taxes | 9903 | €470,737 | €593,401 | +€122,664 | +26.1% |
| Income taxes | 67/77 | €112,245 | €132,896 | +€20,651 | +18.4% |
| Profit (loss) for the period | 9904 | €358,492 | €460,505 | +€102,013 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €358,492 | €460,505 | +€102,013 | +28.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.