JUDI: 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.
What changed
JUDI
NACE 50.400, Inland freight water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€44,397
2024 · €46,007-€1,611
Equity
€108,820
2024 · €66,089+€42,731
Cash
€9,155
2024 · €13,792-€4,637
Balance sheet total
€1.8m
2024 · €1.7m+€41,933
Largest movements
Assets
- Tangible fixed assets +€65,187
up €65,187 (+4.1%), from €1.6m to €1.7m
of which Land and buildings: +€49,666
Equity and liabilities
- Debts after one year -€73,963
down €73,963 (-4.7%), from €1.6m to €1.5m
- Reserves +€42,731
up €42,731 (+94.6%), from €45,156 to €87,887
of which Distributable reserves: +€42,731
- Tax, wage and social debts +€27,127
up €27,127 (+630%), from €4,304 to €31,431
of which Taxes: +€23,192
- Trade debts +€26,146
up €26,146 (+139%), from €18,798 to €44,944
Income statement
- Turnover +€101,255
up €101,255 (+40.3%), from €251,494 to €352,748
- Purchases and services +€65,865
up €65,865 (+68.8%), from €95,788 to €161,653
- Gross operating margin +€65,273
up €65,273 (+41.9%), from €155,758 to €221,031
- Depreciation +€24,366
up €24,366 (+66.1%), from €36,842 to €61,209
- Taxes +€16,900
up €16,900 (+400%), from €4,230 to €21,129
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.
Result 2024
€46,007
Gross operating margin
+€65,273
Staff costs
+€10,522
Depreciation
-€24,366
Provisions
-€10,000
Other operating charges
-€12,732
Financial income
-€98
Financial charges
-€13,308
Taxes
-€16,900
Result 2025
€44,397
raises the resultlowers the result
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.
From operations
+€188,015
Investment
-€126,396
Financing
-€66,256
Cash 2024
€13,792
From operations (derived)
+€188,015
Net result for the year
+€44,397
Depreciation
+€61,209
Stocks and contracts
-€1,342
Receivables within one year
+€16,455
Deferred charges and accrued income
+€3,505
Provisions
+€10,000
Trade debts
+€26,146
Tax, wage and social debts
+€27,127
Other debts
+€519
Investment (derived)
-€126,396
Investment in fixed assets (net)
-€126,396
Financing
-€66,256
Debts after one year
-€73,963
Current portion of long-term debt
+€9,373
Contributions, distributions and other
-€1,666
Cash 2025
€9,155
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,746,864 | €1,788,797 | +€41,933 | +2.4% |
| Fixed assets | 21/28 | €1,585,863 | €1,651,051 | +€65,187 | +4.1% |
| Tangible fixed assets | 22/27 | €1,585,863 | €1,651,051 | +€65,187 | +4.1% |
| Land and buildings | 22 | €1,575,545 | €1,625,211 | +€49,666 | +3.2% |
| Plant, machinery and equipment | 23 | €2,093 | €20,851 | +€18,758 | +896% |
| Furniture and vehicles | 24 | €8,226 | €4,989 | -€3,237 | -39.3% |
| Current assets | 29/58 | €161,001 | €137,746 | -€23,255 | -14.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €119,841 | €121,183 | +€1,342 | +1.1% |
| Stocks | 30/36 | €119,841 | €121,183 | +€1,342 | +1.1% |
| Amounts receivable within one year | 40/41 | €23,863 | €7,408 | -€16,455 | -69.0% |
| Trade receivables | 40 | €22,303 | €7,408 | -€14,895 | -66.8% |
| Other amounts receivable | 41 | €1,561 | - | -€1,561 | |
| Cash at bank and in hand | 54/58 | €13,792 | €9,155 | -€4,637 | -33.6% |
| Deferred charges and accrued income | 490/1 | €3,505 | - | -€3,505 | |
| Total equity and liabilities | 10/49 | €1,746,864 | €1,788,797 | +€41,933 | +2.4% |
| Equity | 10/15 | €66,089 | €108,820 | +€42,731 | +64.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €45,156 | €87,887 | +€42,731 | +94.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €43,297 | €86,027 | +€42,731 | +98.7% |
| Profit (loss) carried forward | 14 | €2,341 | €2,341 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €10,000 | +€10,000 | |
| Provisions for liabilities and charges | 160/5 | - | €10,000 | +€10,000 | |
| Major repairs and maintenance | 162 | - | €10,000 | +€10,000 | |
| Amounts payable | 17/49 | €1,680,775 | €1,669,977 | -€10,798 | -0.6% |
| Amounts payable after more than one year | 17 | €1,563,990 | €1,490,027 | -€73,963 | -4.7% |
| Financial debts | 170/4 | €1,563,990 | €1,490,027 | -€73,963 | -4.7% |
| Amounts payable within one year | 42/48 | €116,785 | €179,950 | +€63,165 | +54.1% |
| Current portion of amounts payable after more than one year | 42 | €91,370 | €100,743 | +€9,373 | +10.3% |
| Trade debts | 44 | €18,798 | €44,944 | +€26,146 | +139% |
| Suppliers | 440/4 | €18,798 | €44,944 | +€26,146 | +139% |
| Taxes, remuneration and social security | 45 | €4,304 | €31,431 | +€27,127 | +630% |
| Taxes | 450/3 | €4,200 | €27,392 | +€23,192 | +552% |
| Remuneration and social security | 454/9 | €104 | €4,039 | +€3,935 | +3,776% |
| Other amounts payable | 47/48 | €2,313 | €2,832 | +€519 | +22.5% |
| Turnover | 70 | €251,494 | €352,748 | +€101,255 | +40.3% |
| Non-recurring operating income | 76A | - | €29,935 | +€29,935 | |
| Goods, raw materials, services and sundry goods | 60/61 | €95,788 | €161,653 | +€65,865 | +68.8% |
| Remuneration, social security and pensions | 62 | €26,359 | €15,837 | -€10,522 | -39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,842 | €61,209 | +€24,366 | +66.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €5,445 | €18,178 | +€12,732 | +234% |
| Gross operating margin | 9900 | €155,758 | €221,031 | +€65,273 | +41.9% |
| Operating profit (loss) | 9901 | €87,112 | €115,807 | +€28,695 | +32.9% |
| Financial income | 75/76B | €98 | €0 | -€98 | -99.8% |
| Recurring financial income | 75 | €98 | €0 | -€98 | -99.8% |
| Financial charges | 65/66B | €36,973 | €50,281 | +€13,308 | +36.0% |
| Recurring financial charges | 65 | €36,973 | €50,281 | +€13,308 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €50,237 | €65,526 | +€15,289 | +30.4% |
| Income taxes | 67/77 | €4,230 | €21,129 | +€16,900 | +400% |
| Profit (loss) for the period | 9904 | €46,007 | €44,397 | -€1,611 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,007 | €44,397 | -€1,611 | -3.5% |
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 24 October 2026 via checked.be.