Jus de Mer: 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.
Jus de Mer
Largest movements
- Tangible fixed assets +€209,924
up €209,924 (+91.6%), from €229,275 to €439,199
of which Plant, machinery and equipment: +€131,963
- Receivables within one year -€29,688
down €29,688 (-33.9%), from €87,625 to €57,937
of which Trade receivables: -€31,714
- Stocks and contracts +€20,277
up €20,277 (+12.6%), from €161,474 to €181,751
- Other debts +€95,724
up €95,724 (+620%), from €15,447 to €111,172
- Reserves +€29,331
up €29,331 (+28.5%), from €102,896 to €132,226
- Trade debts +€25,848
up €25,848 (+99.6%), from €25,961 to €51,809
- Debts after one year +€23,749
up €23,749 (+36.0%), from €65,880 to €89,629
- Current portion of long-term debt +€13,914
up €13,914 (+50.9%), from €27,342 to €41,256
- Gross operating margin +€73,501
up €73,501 (+53.7%), from €136,927 to €210,427
- Depreciation +€30,428
up €30,428 (+57.0%), from €53,353 to €83,781
- Financial charges +€16,320
up €16,320 (+120%), from €13,622 to €29,942
- Other operating charges +€3,322
up €3,322 (+10.5%), from €31,770 to €35,092
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 | €483,200 | €682,463 | +€199,263 | +41.2% |
| Fixed assets | 21/28 | €231,089 | €440,647 | +€209,558 | +90.7% |
| Intangible fixed assets | 21 | €1,464 | €1,098 | -€366 | -25.0% |
| Tangible fixed assets | 22/27 | €229,275 | €439,199 | +€209,924 | +91.6% |
| Plant, machinery and equipment | 23 | €219,969 | €351,932 | +€131,963 | +60.0% |
| Furniture and vehicles | 24 | €9,306 | €9,050 | -€256 | -2.7% |
| Leasing and similar rights | 25 | - | €71,633 | +€71,633 | |
| Other tangible fixed assets | 26 | - | €6,584 | +€6,584 | |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €252,111 | €241,816 | -€10,295 | -4.1% |
| Stocks and contracts in progress | 3 | €161,474 | €181,751 | +€20,277 | +12.6% |
| Stocks | 30/36 | €161,474 | €181,751 | +€20,277 | +12.6% |
| Amounts receivable within one year | 40/41 | €87,625 | €57,937 | -€29,688 | -33.9% |
| Trade receivables | 40 | €84,158 | €52,443 | -€31,714 | -37.7% |
| Other amounts receivable | 41 | €3,467 | €5,494 | +€2,027 | +58.5% |
| Cash at bank and in hand | 54/58 | €494 | €2,061 | +€1,567 | +317% |
| Deferred charges and accrued income | 490/1 | €2,518 | €67 | -€2,451 | -97.3% |
| Total equity and liabilities | 10/49 | €483,200 | €682,463 | +€199,263 | +41.2% |
| Equity | 10/15 | €121,496 | €150,826 | +€29,331 | +24.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,896 | €132,226 | +€29,331 | +28.5% |
| Distributable reserves | 133 | €102,896 | €132,226 | +€29,331 | +28.5% |
| Amounts payable | 17/49 | €361,705 | €531,637 | +€169,932 | +47.0% |
| Amounts payable after more than one year | 17 | €65,880 | €89,629 | +€23,749 | +36.0% |
| Financial debts | 170/4 | €65,880 | €89,629 | +€23,749 | +36.0% |
| Amounts payable within one year | 42/48 | €295,825 | €442,008 | +€146,183 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €27,342 | €41,256 | +€13,914 | +50.9% |
| Financial debts | 43 | €220,068 | €227,562 | +€7,494 | +3.4% |
| Credit institutions | 430/8 | €220,068 | €227,562 | +€7,494 | +3.4% |
| Trade debts | 44 | €25,961 | €51,809 | +€25,848 | +99.6% |
| Suppliers | 440/4 | €25,961 | €51,809 | +€25,848 | +99.6% |
| Taxes, remuneration and social security | 45 | €7,006 | €10,209 | +€3,203 | +45.7% |
| Taxes | 450/3 | €7,006 | €10,209 | +€3,203 | +45.7% |
| Other amounts payable | 47/48 | €15,447 | €111,172 | +€95,724 | +620% |
| Non-recurring operating income | 76A | - | €13,886 | +€13,886 | |
| Remuneration, social security and pensions | 62 | €1,537 | - | -€1,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,353 | €83,781 | +€30,428 | +57.0% |
| Other operating charges | 640/8 | €31,770 | €35,092 | +€3,322 | +10.5% |
| Gross operating margin | 9900 | €136,927 | €210,427 | +€73,501 | +53.7% |
| Operating profit (loss) | 9901 | €50,267 | €91,554 | +€41,287 | +82.1% |
| Financial income | 75/76B | €490 | €39 | -€451 | -92.1% |
| Recurring financial income | 75 | €490 | €39 | -€451 | -92.1% |
| Financial charges | 65/66B | €13,622 | €29,942 | +€16,320 | +120% |
| Recurring financial charges | 65 | €13,622 | €29,942 | +€16,320 | +120% |
| Profit (loss) for the period before taxes | 9903 | €37,135 | €61,651 | +€24,516 | +66.0% |
| Income taxes | 67/77 | €1,961 | €2,320 | +€359 | +18.3% |
| Profit (loss) for the period | 9904 | €35,174 | €59,331 | +€24,157 | +68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,174 | €59,331 | +€24,157 | +68.7% |
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 26 October 2026 via checked.be.