JUST HR: 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.
JUST HR
Largest movements
- Tangible fixed assets +€345,328
up €345,328 (+638%), from €54,156 to €399,483
of which Land and buildings: +€280,451
- Cash -€22,676
down €22,676 (-50.6%), from €44,796 to €22,119
mainly Investment in fixed assets (net) (-€377,027) and Receivables within one year (-€6,886)
- Receivables within one year +€6,886
up €6,886 (+48.9%), from €14,080 to €20,966
of which Trade receivables: +€4,078
- Debts after one year +€246,336
new in 2025: €246,336
- Current portion of long-term debt +€33,334
new in 2025: €33,334
- Reserves +€30,472
up €30,472 (+37.1%), from €82,041 to €112,514
- Other debts +€17,010
up €17,010 (+85.7%), from €19,854 to €36,864
- Depreciation +€28,561
up €28,561 (+661%), from €4,318 to €32,879
- Taxes -€6,558
down €6,558 (-39.1%), from €16,793 to €10,235
- Financial charges +€2,091
up €2,091 (+98.5%), from €2,122 to €4,213
- Gross operating margin -€1,327
down €1,327 (-1.6%), from €80,421 to €79,095
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 | €118,033 | €446,310 | +€328,277 | +278% |
| Fixed assets | 21/28 | €57,816 | €401,963 | +€344,148 | +595% |
| Intangible fixed assets | 21 | €3,142 | €1,962 | -€1,180 | -37.6% |
| Tangible fixed assets | 22/27 | €54,156 | €399,483 | +€345,328 | +638% |
| Land and buildings | 22 | - | €280,451 | +€280,451 | |
| Plant, machinery and equipment | 23 | €434 | €1,801 | +€1,367 | +315% |
| Furniture and vehicles | 24 | €2,833 | €46,900 | +€44,067 | +1,555% |
| Other tangible fixed assets | 26 | €50,888 | €70,330 | +€19,442 | +38.2% |
| Financial fixed assets | 28 | €518 | €518 | = | 0.0% |
| Current assets | 29/58 | €60,217 | €44,347 | -€15,871 | -26.4% |
| Amounts receivable within one year | 40/41 | €14,080 | €20,966 | +€6,886 | +48.9% |
| Trade receivables | 40 | €13,373 | €17,451 | +€4,078 | +30.5% |
| Other amounts receivable | 41 | €707 | €3,515 | +€2,808 | +397% |
| Cash at bank and in hand | 54/58 | €44,796 | €22,119 | -€22,676 | -50.6% |
| Deferred charges and accrued income | 490/1 | €1,341 | €1,261 | -€80 | -6.0% |
| Total equity and liabilities | 10/49 | €118,033 | €446,310 | +€328,277 | +278% |
| Equity | 10/15 | €83,041 | €113,514 | +€30,472 | +36.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €82,041 | €112,514 | +€30,472 | +37.1% |
| Distributable reserves | 133 | €82,041 | €112,514 | +€30,472 | +37.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,992 | €332,796 | +€297,804 | +851% |
| Amounts payable after more than one year | 17 | - | €246,336 | +€246,336 | |
| Financial debts | 170/4 | - | €246,336 | +€246,336 | |
| Amounts payable within one year | 42/48 | €33,742 | €85,910 | +€52,168 | +155% |
| Current portion of amounts payable after more than one year | 42 | - | €33,334 | +€33,334 | |
| Trade debts | 44 | €1,607 | €3,260 | +€1,654 | +103% |
| Suppliers | 440/4 | €1,607 | €3,260 | +€1,654 | +103% |
| Taxes, remuneration and social security | 45 | €12,281 | €12,451 | +€170 | +1.4% |
| Taxes | 450/3 | €12,281 | €12,451 | +€170 | +1.4% |
| Other amounts payable | 47/48 | €19,854 | €36,864 | +€17,010 | +85.7% |
| Accrued charges and deferred income | 492/3 | €1,250 | €550 | -€700 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,318 | €32,879 | +€28,561 | +661% |
| Other operating charges | 640/8 | €1,587 | €1,296 | -€291 | -18.3% |
| Gross operating margin | 9900 | €80,421 | €79,095 | -€1,327 | -1.6% |
| Operating profit (loss) | 9901 | €74,516 | €44,920 | -€29,596 | -39.7% |
| Financial income | 75/76B | €2 | €0 | -€2 | -96.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -96.0% |
| Financial charges | 65/66B | €2,122 | €4,213 | +€2,091 | +98.5% |
| Recurring financial charges | 65 | €2,122 | €4,213 | +€2,091 | +98.5% |
| Profit (loss) for the period before taxes | 9903 | €72,396 | €40,707 | -€31,689 | -43.8% |
| Income taxes | 67/77 | €16,793 | €10,235 | -€6,558 | -39.1% |
| Profit (loss) for the period | 9904 | €55,604 | €30,472 | -€25,131 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,604 | €30,472 | -€25,131 | -45.2% |
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.