JUEL: 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.
JUEL
Largest movements
- Receivables within one year +€85,711
up €85,711 (+158.9%), from €53,951 to €139,662
of which Other amounts receivable: +€60,314
- Cash -€28,951
down €28,951 (-98.1%), from €29,518 to €567
mainly Receivables within one year (-€85,711) and Debts after one year (-€32,000)
- Tangible fixed assets -€24,476
down €24,476 (-4.8%), from €512,434 to €487,957
of which Land and buildings: -€26,820
- Profit (loss) carried forward +€38,290
up €38,290 (+11.3%), from €339,752 to €378,042
- Debts after one year -€32,000
down €32,000 (-32.4%), from €98,667 to €66,667
- Tax, wage and social debts +€29,129
up €29,129 (+126.2%), from €23,072 to €52,201
of which Taxes: +€27,908
- Taxes +€32,577
up €32,577 (+151.6%), from €21,490 to €54,067
- Staff costs +€11,517
up €11,517 (+65.8%), from €17,498 to €29,015
- Depreciation -€9,245
down €9,245 (-23.9%), from €38,646 to €29,401
- Gross operating margin +€7,270
up €7,270 (+4.5%), from €160,633 to €167,903
- Other operating charges +€4,612
up €4,612 (+41.5%), from €11,119 to €15,731
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 | €602,805 | €635,391 | +€32,586 | +5.4% |
| Fixed assets | 21/28 | €512,434 | €487,957 | -€24,476 | -4.8% |
| Tangible fixed assets | 22/27 | €512,434 | €487,957 | -€24,476 | -4.8% |
| Land and buildings | 22 | €506,289 | €479,469 | -€26,820 | -5.3% |
| Plant, machinery and equipment | 23 | €6,012 | €5,759 | -€252 | -4.2% |
| Furniture and vehicles | 24 | €133 | €0 | -€133 | -100.0% |
| Other tangible fixed assets | 26 | €0 | €2,729 | +€2,729 | |
| Current assets | 29/58 | €90,371 | €147,433 | +€57,062 | +63.1% |
| Amounts receivable within one year | 40/41 | €53,951 | €139,662 | +€85,711 | +158.9% |
| Trade receivables | 40 | €13,916 | €39,313 | +€25,397 | +182.5% |
| Other amounts receivable | 41 | €40,035 | €100,349 | +€60,314 | +150.7% |
| Cash at bank and in hand | 54/58 | €29,518 | €567 | -€28,951 | -98.1% |
| Deferred charges and accrued income | 490/1 | €6,902 | €7,205 | +€303 | +4.4% |
| Total equity and liabilities | 10/49 | €602,805 | €635,391 | +€32,586 | +5.4% |
| Equity | 10/15 | €433,935 | €472,225 | +€38,290 | +8.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €63,183 | €63,183 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €51,183 | €51,183 | = | 0.0% |
| Profit (loss) carried forward | 14 | €339,752 | €378,042 | +€38,290 | +11.3% |
| Amounts payable | 17/49 | €168,870 | €163,165 | -€5,704 | -3.4% |
| Amounts payable after more than one year | 17 | €98,667 | €66,667 | -€32,000 | -32.4% |
| Financial debts | 170/4 | €98,667 | €66,667 | -€32,000 | -32.4% |
| Amounts payable within one year | 42/48 | €70,203 | €96,498 | +€26,295 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €34,640 | €34,351 | -€290 | -0.8% |
| Trade debts | 44 | €10,824 | €9,946 | -€878 | -8.1% |
| Suppliers | 440/4 | €10,824 | €9,946 | -€878 | -8.1% |
| Taxes, remuneration and social security | 45 | €23,072 | €52,201 | +€29,129 | +126.2% |
| Taxes | 450/3 | €14,266 | €42,175 | +€27,908 | +195.6% |
| Remuneration and social security | 454/9 | €8,806 | €10,027 | +€1,221 | +13.9% |
| Other amounts payable | 47/48 | €1,666 | €0 | -€1,666 | -100.0% |
| Non-recurring operating income | 76A | - | €276 | +€276 | |
| Remuneration, social security and pensions | 62 | €17,498 | €29,015 | +€11,517 | +65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,646 | €29,401 | -€9,245 | -23.9% |
| Other operating charges | 640/8 | €11,119 | €15,731 | +€4,612 | +41.5% |
| Non-recurring operating charges | 66A | €8,659 | €0 | -€8,659 | -100.0% |
| Gross operating margin | 9900 | €160,633 | €167,903 | +€7,270 | +4.5% |
| Operating profit (loss) | 9901 | €84,711 | €93,756 | +€9,044 | +10.7% |
| Financial income | 75/76B | €36 | €2,993 | +€2,957 | +8192.0% |
| Recurring financial income | 75 | €36 | €2,993 | +€2,957 | +8192.0% |
| Financial charges | 65/66B | €8,072 | €4,392 | -€3,680 | -45.6% |
| Recurring financial charges | 65 | €8,072 | €4,392 | -€3,680 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €76,676 | €92,357 | +€15,681 | +20.5% |
| Income taxes | 67/77 | €21,490 | €54,067 | +€32,577 | +151.6% |
| Profit (loss) for the period | 9904 | €55,186 | €38,290 | -€16,896 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,186 | €38,290 | -€16,896 | -30.6% |
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.