Just More: 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 More
Largest movements
- Tangible fixed assets -€27,792
down €27,792 (-21.7%), from €127,821 to €100,029
of which Land and buildings: -€16,696
- Cash +€9,210
up €9,210 (+34.9%), from €26,420 to €35,630
mainly Depreciation (+€42,104) and Receivables within one year (+€7,347)
- Receivables within one year -€7,347
down €7,347 (-9.3%), from €79,148 to €71,801
of which Other amounts receivable: -€8,564
- Debts after one year -€12,025
down €12,025 (-23.1%), from €51,943 to €39,918
- Current portion of long-term debt -€7,549
down €7,549 (-42.3%), from €17,832 to €10,284
- Trade debts -€6,873
down €6,873 (-49.3%), from €13,944 to €7,072
- Reserves +€5,072
up €5,072 (+5.2%), from €98,434 to €103,505
of which Non-distributable reserves: +€5,072
- Other debts -€4,145
down €4,145 (-14.6%), from €28,300 to €24,155
- Gross operating margin +€14,690
up €14,690 (+18.5%), from €79,441 to €94,131
- Depreciation +€7,381
up €7,381 (+21.3%), from €34,723 to €42,104
- Taxes +€5,599
up €5,599 (+130.6%), from €4,286 to €9,885
- Staff costs -€3,255
down €3,255 (-8.3%), from €39,143 to €35,888
- Financial income -€2,515
down €2,515 (-35.0%), from €7,195 to €4,680
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 | €236,632 | €211,680 | -€24,952 | -10.5% |
| Fixed assets | 21/28 | €127,821 | €100,479 | -€27,342 | -21.4% |
| Tangible fixed assets | 22/27 | €127,821 | €100,029 | -€27,792 | -21.7% |
| Land and buildings | 22 | €62,521 | €45,825 | -€16,696 | -26.7% |
| Plant, machinery and equipment | 23 | €4,400 | €8,884 | +€4,485 | +101.9% |
| Furniture and vehicles | 24 | €60,900 | €45,320 | -€15,580 | -25.6% |
| Financial fixed assets | 28 | - | €450 | +€450 | |
| Current assets | 29/58 | €108,811 | €111,202 | +€2,390 | +2.2% |
| Stocks and contracts in progress | 3 | €3,243 | €3,770 | +€527 | +16.3% |
| Stocks | 30/36 | €3,243 | €3,770 | +€527 | +16.3% |
| Amounts receivable within one year | 40/41 | €79,148 | €71,801 | -€7,347 | -9.3% |
| Trade receivables | 40 | €1,901 | €3,118 | +€1,217 | +64.0% |
| Other amounts receivable | 41 | €77,247 | €68,683 | -€8,564 | -11.1% |
| Cash at bank and in hand | 54/58 | €26,420 | €35,630 | +€9,210 | +34.9% |
| Total equity and liabilities | 10/49 | €236,632 | €211,680 | -€24,952 | -10.5% |
| Equity | 10/15 | €104,634 | €109,705 | +€5,072 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €98,434 | €103,505 | +€5,072 | +5.2% |
| Non-distributable reserves | 130/1 | €31,329 | €36,400 | +€5,072 | +16.2% |
| Other | 1319 | €31,329 | €36,400 | +€5,072 | +16.2% |
| Distributable reserves | 133 | €67,105 | €67,105 | = | 0.0% |
| Amounts payable | 17/49 | €131,999 | €101,975 | -€30,024 | -22.7% |
| Amounts payable after more than one year | 17 | €51,943 | €39,918 | -€12,025 | -23.1% |
| Financial debts | 170/4 | €51,943 | €39,918 | -€12,025 | -23.1% |
| Amounts payable within one year | 42/48 | €80,056 | €62,056 | -€17,999 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €17,832 | €10,284 | -€7,549 | -42.3% |
| Trade debts | 44 | €13,944 | €7,072 | -€6,873 | -49.3% |
| Suppliers | 440/4 | €13,944 | €7,072 | -€6,873 | -49.3% |
| Taxes, remuneration and social security | 45 | €19,979 | €20,545 | +€566 | +2.8% |
| Taxes | 450/3 | €17,343 | €18,084 | +€742 | +4.3% |
| Remuneration and social security | 454/9 | €2,637 | €2,461 | -€175 | -6.7% |
| Other amounts payable | 47/48 | €28,300 | €24,155 | -€4,145 | -14.6% |
| Non-recurring operating income | 76A | €15,500 | - | -€15,500 | |
| Remuneration, social security and pensions | 62 | €39,143 | €35,888 | -€3,255 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,723 | €42,104 | +€7,381 | +21.3% |
| Other operating charges | 640/8 | €2,705 | €3,134 | +€430 | +15.9% |
| Non-recurring operating charges | 66A | €106 | €128 | +€22 | +20.8% |
| Gross operating margin | 9900 | €79,441 | €94,131 | +€14,690 | +18.5% |
| Operating profit (loss) | 9901 | €2,764 | €12,876 | +€10,112 | +365.9% |
| Financial income | 75/76B | €7,195 | €4,680 | -€2,515 | -35.0% |
| Recurring financial income | 75 | €7,195 | €4,680 | -€2,515 | -35.0% |
| Financial charges | 65/66B | €1,740 | €2,599 | +€859 | +49.4% |
| Recurring financial charges | 65 | €1,740 | €2,599 | +€859 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €8,219 | €14,957 | +€6,738 | +82.0% |
| Income taxes | 67/77 | €4,286 | €9,885 | +€5,599 | +130.6% |
| Profit (loss) for the period | 9904 | €3,933 | €5,072 | +€1,139 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,933 | €5,072 | +€1,139 | +29.0% |
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 12 October 2026 via checked.be.