JUBAUD: 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.
JUBAUD
Largest movements
- Tangible fixed assets -€236,041
down €236,041 (-72.8%), from €324,096 to €88,054
of which Land and buildings: -€245,912
- Stocks and contracts +€35,354
up €35,354 (+31.1%), from €113,557 to €148,911
- Cash -€24,149
down €24,149 (-54.1%), from €44,610 to €20,461
mainly Debts after one year (-€209,416) and Trade debts (-€80,372)
- Receivables within one year +€11,201
up €11,201 (+3.3%), from €341,846 to €353,048
of which Trade receivables: +€11,201
- Debts after one year -€209,416
down €209,416 (-75.1%), from €278,928 to €69,512
- Trade debts -€80,372
down €80,372 (-27.2%), from €295,775 to €215,403
- Advances received +€64,524
new in 2025: €64,524
- Reserves +€48,211
up €48,211 (+54.9%), from €87,779 to €135,989
of which Distributable reserves: +€48,211
- Tax, wage and social debts -€37,521
down €37,521 (-49.5%), from €75,876 to €38,355
- Gross operating margin +€31,074
up €31,074 (+30.0%), from €103,488 to €134,562
- Depreciation -€3,834
down €3,834 (-18.0%), from €21,278 to €17,444
- Financial charges -€2,387
down €2,387 (-11.8%), from €20,286 to €17,899
- Other operating charges +€2,102
up €2,102 (+336.1%), from €625 to €2,727
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 | €880,800 | €671,145 | -€209,655 | -23.8% |
| Fixed assets | 21/28 | €326,661 | €90,100 | -€236,561 | -72.4% |
| Intangible fixed assets | 21 | €2,565 | €2,046 | -€520 | -20.3% |
| Tangible fixed assets | 22/27 | €324,096 | €88,054 | -€236,041 | -72.8% |
| Land and buildings | 22 | €309,276 | €63,365 | -€245,912 | -79.5% |
| Plant, machinery and equipment | 23 | €222 | €0 | -€222 | -100.0% |
| Furniture and vehicles | 24 | €14,597 | €24,690 | +€10,093 | +69.1% |
| Current assets | 29/58 | €554,139 | €581,045 | +€26,906 | +4.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €113,557 | €148,911 | +€35,354 | +31.1% |
| Stocks | 30/36 | €113,557 | €148,911 | +€35,354 | +31.1% |
| Amounts receivable within one year | 40/41 | €341,846 | €353,048 | +€11,201 | +3.3% |
| Trade receivables | 40 | €333,296 | €344,498 | +€11,201 | +3.4% |
| Other amounts receivable | 41 | €8,550 | €8,550 | = | 0.0% |
| Current investments | 50/53 | €4,125 | €8,625 | +€4,500 | +109.1% |
| Cash at bank and in hand | 54/58 | €44,610 | €20,461 | -€24,149 | -54.1% |
| Total equity and liabilities | 10/49 | €880,800 | €671,145 | -€209,655 | -23.8% |
| Equity | 10/15 | €121,856 | €170,067 | +€48,211 | +39.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €87,779 | €135,989 | +€48,211 | +54.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €87,779 | €135,989 | +€48,211 | +54.9% |
| Profit (loss) carried forward | 14 | €27,878 | €27,878 | = | 0.0% |
| Amounts payable | 17/49 | €758,943 | €501,078 | -€257,865 | -34.0% |
| Amounts payable after more than one year | 17 | €278,928 | €69,512 | -€209,416 | -75.1% |
| Financial debts | 170/4 | €278,928 | €69,512 | -€209,416 | -75.1% |
| Amounts payable within one year | 42/48 | €480,015 | €431,566 | -€48,449 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €7,278 | €11,416 | +€4,139 | +56.9% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €295,775 | €215,403 | -€80,372 | -27.2% |
| Suppliers | 440/4 | €295,775 | €215,403 | -€80,372 | -27.2% |
| Advances received on contracts in progress | 46 | - | €64,524 | +€64,524 | |
| Taxes, remuneration and social security | 45 | €75,876 | €38,355 | -€37,521 | -49.5% |
| Taxes | 450/3 | €75,876 | €38,355 | -€37,521 | -49.5% |
| Other amounts payable | 47/48 | €1,087 | €1,869 | +€782 | +71.9% |
| Non-recurring operating income | 76A | - | €46,105 | +€46,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,278 | €17,444 | -€3,834 | -18.0% |
| Other operating charges | 640/8 | €625 | €2,727 | +€2,102 | +336.1% |
| Non-recurring operating charges | 66A | - | €28,916 | +€28,916 | |
| Gross operating margin | 9900 | €103,488 | €134,562 | +€31,074 | +30.0% |
| Operating profit (loss) | 9901 | €81,585 | €85,475 | +€3,891 | +4.8% |
| Financial income | 75/76B | €745 | €755 | +€10 | +1.4% |
| Recurring financial income | 75 | €745 | €755 | +€10 | +1.4% |
| Financial charges | 65/66B | €20,286 | €17,899 | -€2,387 | -11.8% |
| Recurring financial charges | 65 | €20,286 | €17,899 | -€2,387 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €62,043 | €68,331 | +€6,288 | +10.1% |
| Income taxes | 67/77 | €19,288 | €20,121 | +€833 | +4.3% |
| Profit (loss) for the period | 9904 | €42,755 | €48,211 | +€5,455 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,755 | €48,211 | +€5,455 | +12.8% |
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.