JUDICO: 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.
JUDICO
Largest movements
- Receivables within one year +€914,971
up €914,971 (+92.4%), from €990,500 to €1.9m
of which Other amounts receivable: +€969,266
- Cash +€88,080
up €88,080 (+424%), from €20,788 to €108,868
mainly Contributions, distributions and other (+€920,000) and Net result for the year (+€292,019)
- Tangible fixed assets -€85,360
down €85,360 (-7.2%), from €1.2m to €1.1m
- Intangible fixed assets -€67,306
down €67,306 (-43.2%), from €155,944 to €88,638
- Contributions +€920,000
up €920,000 (+10,384%), from €8,860 to €928,860
- Debts after one year -€341,914
down €341,914 (-14.8%), from €2.3m to €2.0m
of which Financial debts: -€341,914
- Reserves +€292,019
up €292,019 (+20.8%), from €1.4m to €1.7m
- Trade debts +€95,050
up €95,050 (+2,826%), from €3,363 to €98,413
- Gross operating margin -€508,998
down €508,998 (-45.1%), from €1.1m to €618,690
- Taxes -€114,331
down €114,331 (-57.1%), from €200,146 to €85,815
- Financial charges -€48,099
down €48,099 (-31.2%), from €154,009 to €105,911
- Financial income +€32,260
up €32,260 (+1,074%), from €3,004 to €35,264
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 | €4,431,052 | €5,318,913 | +€887,862 | +20.0% |
| Fixed assets | 21/28 | €3,409,108 | €3,256,443 | -€152,665 | -4.5% |
| Intangible fixed assets | 21 | €155,944 | €88,638 | -€67,306 | -43.2% |
| Tangible fixed assets | 22/27 | €1,185,660 | €1,100,300 | -€85,360 | -7.2% |
| Land and buildings | 22 | €1,185,660 | €1,100,300 | -€85,360 | -7.2% |
| Financial fixed assets | 28 | €2,067,505 | €2,067,505 | = | 0.0% |
| Current assets | 29/58 | €1,021,943 | €2,062,470 | +€1.0m | +102% |
| Amounts receivable within one year | 40/41 | €990,500 | €1,905,471 | +€914,971 | +92.4% |
| Trade receivables | 40 | €82,519 | €28,224 | -€54,295 | -65.8% |
| Other amounts receivable | 41 | €907,980 | €1,877,247 | +€969,266 | +107% |
| Cash at bank and in hand | 54/58 | €20,788 | €108,868 | +€88,080 | +424% |
| Deferred charges and accrued income | 490/1 | €10,655 | €48,131 | +€37,476 | +352% |
| Total equity and liabilities | 10/49 | €4,431,052 | €5,318,913 | +€887,862 | +20.0% |
| Equity | 10/15 | €1,413,441 | €2,625,460 | +€1.2m | +85.7% |
| Contributions | 10/11 | €8,860 | €928,860 | +€920,000 | +10,384% |
| Reserves | 13 | €1,404,581 | €1,696,600 | +€292,019 | +20.8% |
| Distributable reserves | 133 | €1,404,581 | €1,696,600 | +€292,019 | +20.8% |
| Amounts payable | 17/49 | €3,017,611 | €2,693,453 | -€324,158 | -10.7% |
| Amounts payable after more than one year | 17 | €2,317,100 | €1,975,185 | -€341,914 | -14.8% |
| Financial debts | 170/4 | €1,317,100 | €975,185 | -€341,914 | -26.0% |
| Other amounts payable | 178/9 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €616,029 | €650,254 | +€34,225 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €378,944 | €358,592 | -€20,352 | -5.4% |
| Trade debts | 44 | €3,363 | €98,413 | +€95,050 | +2,826% |
| Suppliers | 440/4 | €3,363 | €98,413 | +€95,050 | +2,826% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €233,721 | €193,249 | -€40,473 | -17.3% |
| Accrued charges and deferred income | 492/3 | €84,483 | €68,014 | -€16,468 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,025 | €158,590 | +€566 | +0.4% |
| Other operating charges | 640/8 | €11,012 | €11,618 | +€606 | +5.5% |
| Gross operating margin | 9900 | €1,127,688 | €618,690 | -€508,998 | -45.1% |
| Operating profit (loss) | 9901 | €958,652 | €448,482 | -€510,170 | -53.2% |
| Financial income | 75/76B | €3,004 | €35,264 | +€32,260 | +1,074% |
| Recurring financial income | 75 | €3,004 | €35,264 | +€32,260 | +1,074% |
| Financial charges | 65/66B | €154,009 | €105,911 | -€48,099 | -31.2% |
| Recurring financial charges | 65 | €154,009 | €105,911 | -€48,099 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €807,646 | €377,835 | -€429,811 | -53.2% |
| Income taxes | 67/77 | €200,146 | €85,815 | -€114,331 | -57.1% |
| Profit (loss) for the period | 9904 | €607,500 | €292,019 | -€315,480 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €607,500 | €292,019 | -€315,480 | -51.9% |
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 16 October 2026 via checked.be.