JULIE: 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.
JULIE
Largest movements
- Stocks and contracts +€136,887
up €136,887 (+63.5%), from €215,517 to €352,404
- Cash +€87,983
up €87,983 (+43.8%), from €200,877 to €288,860
mainly Net result for the year (+€104,307) and Depreciation (+€85,176)
- Tangible fixed assets +€33,193
up €33,193 (+4.3%), from €774,801 to €807,995
of which Land and buildings: +€57,821
- Receivables within one year -€29,533
down €29,533 (-79.8%), from €37,008 to €7,475
of which Trade receivables: -€29,533
- Reserves +€104,307
up €104,307 (+55.4%), from €188,397 to €292,704
of which Distributable reserves: +€104,307
- Debts after one year +€59,138
up €59,138 (+9.7%), from €611,282 to €670,420
- Tax, wage and social debts +€24,280
up €24,280 (+17.4%), from €139,860 to €164,140
of which Taxes: +€24,527
- Trade debts +€21,941
up €21,941 (+17.8%), from €123,332 to €145,273
- Gross operating margin +€116,014
up €116,014 (+23.5%), from €492,844 to €608,858
- Staff costs +€56,998
up €56,998 (+21.4%), from €266,437 to €323,435
- Depreciation +€25,035
up €25,035 (+41.6%), from €60,141 to €85,176
- Financial charges +€13,535
up €13,535 (+51.7%), from €26,165 to €39,700
- Taxes +€8,826
up €8,826 (+27.2%), from €32,432 to €41,258
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 | €1,240,137 | €1,468,151 | +€228,014 | +18.4% |
| Fixed assets | 21/28 | €784,401 | €817,595 | +€33,193 | +4.2% |
| Tangible fixed assets | 22/27 | €774,801 | €807,995 | +€33,193 | +4.3% |
| Land and buildings | 22 | €703,966 | €761,787 | +€57,821 | +8.2% |
| Plant, machinery and equipment | 23 | €34,578 | €22,844 | -€11,734 | -33.9% |
| Furniture and vehicles | 24 | €6,759 | €1,195 | -€5,564 | -82.3% |
| Leasing and similar rights | 25 | €29,498 | €22,169 | -€7,330 | -24.8% |
| Financial fixed assets | 28 | €9,600 | €9,600 | = | 0.0% |
| Current assets | 29/58 | €455,736 | €650,556 | +€194,821 | +42.7% |
| Stocks and contracts in progress | 3 | €215,517 | €352,404 | +€136,887 | +63.5% |
| Stocks | 30/36 | €215,517 | €352,404 | +€136,887 | +63.5% |
| Amounts receivable within one year | 40/41 | €37,008 | €7,475 | -€29,533 | -79.8% |
| Trade receivables | 40 | €31,308 | €1,775 | -€29,533 | -94.3% |
| Other amounts receivable | 41 | €5,700 | €5,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €200,877 | €288,860 | +€87,983 | +43.8% |
| Deferred charges and accrued income | 490/1 | €2,334 | €1,818 | -€516 | -22.1% |
| Total equity and liabilities | 10/49 | €1,240,137 | €1,468,151 | +€228,014 | +18.4% |
| Equity | 10/15 | €284,058 | €388,366 | +€104,307 | +36.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €188,397 | €292,704 | +€104,307 | +55.4% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €187,777 | €292,084 | +€104,307 | +55.5% |
| Profit (loss) carried forward | 14 | €89,464 | €89,464 | = | 0.0% |
| Amounts payable | 17/49 | €956,078 | €1,079,785 | +€123,707 | +12.9% |
| Amounts payable after more than one year | 17 | €611,282 | €670,420 | +€59,138 | +9.7% |
| Financial debts | 170/4 | €611,282 | €670,420 | +€59,138 | +9.7% |
| Amounts payable within one year | 42/48 | €344,796 | €409,365 | +€64,569 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €43,002 | €50,716 | +€7,714 | +17.9% |
| Financial debts | 43 | €12,675 | €12,594 | -€81 | -0.6% |
| Credit institutions | 430/8 | €12,675 | €12,594 | -€81 | -0.6% |
| Trade debts | 44 | €123,332 | €145,273 | +€21,941 | +17.8% |
| Suppliers | 440/4 | €123,332 | €145,273 | +€21,941 | +17.8% |
| Taxes, remuneration and social security | 45 | €139,860 | €164,140 | +€24,280 | +17.4% |
| Taxes | 450/3 | €82,365 | €106,891 | +€24,527 | +29.8% |
| Remuneration and social security | 454/9 | €57,496 | €57,249 | -€247 | -0.4% |
| Other amounts payable | 47/48 | €25,927 | €36,642 | +€10,716 | +41.3% |
| Remuneration, social security and pensions | 62 | €266,437 | €323,435 | +€56,998 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,141 | €85,176 | +€25,035 | +41.6% |
| Other operating charges | 640/8 | €6,392 | €14,983 | +€8,591 | +134.4% |
| Gross operating margin | 9900 | €492,844 | €608,858 | +€116,014 | +23.5% |
| Operating profit (loss) | 9901 | €159,874 | €185,265 | +€25,391 | +15.9% |
| Financial income | 75/76B | €1,499 | €0 | -€1,499 | -100.0% |
| Recurring financial income | 75 | €1,499 | €0 | -€1,499 | -100.0% |
| Financial charges | 65/66B | €26,165 | €39,700 | +€13,535 | +51.7% |
| Recurring financial charges | 65 | €26,165 | €39,700 | +€13,535 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | €135,209 | €145,565 | +€10,356 | +7.7% |
| Income taxes | 67/77 | €32,432 | €41,258 | +€8,826 | +27.2% |
| Profit (loss) for the period | 9904 | €102,777 | €104,307 | +€1,530 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €102,777 | €104,307 | +€1,530 | +1.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.