JULO: 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.
JULO
Largest movements
- Tangible fixed assets +€67,423
up €67,423 (+20.3%), from €332,109 to €399,532
of which Land and buildings: +€82,654
- Cash -€44,746
down €44,746 (-19.9%), from €225,299 to €180,552
mainly Investment in fixed assets (net) (-€113,209) and Contributions, distributions and other (-€96,673)
- Other debts +€96,673
new in 2025: €96,673
- Reserves -€63,383
down €63,383 (-13.0%), from €487,347 to €423,964
- Debts after one year -€21,830
down €21,830 (-31.0%), from €70,429 to €48,599
- Gross operating margin -€133,470
down €133,470 (-57.7%), from €231,198 to €97,728
- Taxes -€44,657
down €44,657 (-73.7%), from €60,622 to €15,965
- Depreciation +€16,481
up €16,481 (+56.2%), from €29,305 to €45,786
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 | €611,519 | €629,248 | +€17,729 | +2.9% |
| Fixed assets | 21/28 | €332,109 | €399,532 | +€67,423 | +20.3% |
| Tangible fixed assets | 22/27 | €332,109 | €399,532 | +€67,423 | +20.3% |
| Land and buildings | 22 | €263,779 | €346,433 | +€82,654 | +31.3% |
| Plant, machinery and equipment | 23 | €2,470 | €1,580 | -€890 | -36.0% |
| Furniture and vehicles | 24 | €6,108 | €1,694 | -€4,415 | -72.3% |
| Other tangible fixed assets | 26 | €59,751 | €49,825 | -€9,926 | -16.6% |
| Current assets | 29/58 | €279,410 | €229,716 | -€49,694 | -17.8% |
| Amounts receivable within one year | 40/41 | €52,120 | €47,403 | -€4,718 | -9.1% |
| Trade receivables | 40 | €37,042 | €15,383 | -€21,660 | -58.5% |
| Other amounts receivable | 41 | €15,078 | €32,020 | +€16,942 | +112.4% |
| Cash at bank and in hand | 54/58 | €225,299 | €180,552 | -€44,746 | -19.9% |
| Deferred charges and accrued income | 490/1 | €1,991 | €1,761 | -€230 | -11.6% |
| Total equity and liabilities | 10/49 | €611,519 | €629,248 | +€17,729 | +2.9% |
| Equity | 10/15 | €505,947 | €442,564 | -€63,383 | -12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €487,347 | €423,964 | -€63,383 | -13.0% |
| Distributable reserves | 133 | €487,347 | €423,964 | -€63,383 | -13.0% |
| Amounts payable | 17/49 | €105,573 | €186,684 | +€81,112 | +76.8% |
| Amounts payable after more than one year | 17 | €70,429 | €48,599 | -€21,830 | -31.0% |
| Financial debts | 170/4 | €70,429 | €48,599 | -€21,830 | -31.0% |
| Amounts payable within one year | 42/48 | €33,476 | €136,461 | +€102,985 | +307.6% |
| Current portion of amounts payable after more than one year | 42 | €21,459 | €21,830 | +€371 | +1.7% |
| Trade debts | 44 | €386 | €2,966 | +€2,580 | +668.1% |
| Suppliers | 440/4 | €386 | €2,966 | +€2,580 | +668.1% |
| Taxes, remuneration and social security | 45 | €11,631 | €14,992 | +€3,361 | +28.9% |
| Taxes | 450/3 | €11,631 | €14,992 | +€3,361 | +28.9% |
| Other amounts payable | 47/48 | - | €96,673 | +€96,673 | |
| Accrued charges and deferred income | 492/3 | €1,668 | €1,625 | -€43 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,305 | €45,786 | +€16,481 | +56.2% |
| Other operating charges | 640/8 | €2,067 | €2,164 | +€97 | +4.7% |
| Gross operating margin | 9900 | €231,198 | €97,728 | -€133,470 | -57.7% |
| Operating profit (loss) | 9901 | €199,826 | €49,778 | -€150,048 | -75.1% |
| Financial income | 75/76B | €238 | €1,075 | +€837 | +351.2% |
| Recurring financial income | 75 | €238 | €1,075 | +€837 | +351.2% |
| Financial charges | 65/66B | €1,932 | €1,598 | -€333 | -17.3% |
| Recurring financial charges | 65 | €1,932 | €1,598 | -€333 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €198,133 | €49,255 | -€148,878 | -75.1% |
| Income taxes | 67/77 | €60,622 | €15,965 | -€44,657 | -73.7% |
| Profit (loss) for the period | 9904 | €137,511 | €33,290 | -€104,220 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €137,511 | €33,290 | -€104,220 | -75.8% |
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 1 October 2026 via checked.be.