JUSTINE B: 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.
JUSTINE B
Largest movements
- Receivables within one year +€73,428
up €73,428 (+186%), from €39,432 to €112,860
- Cash -€28,915
down €28,915 (-99.3%), from €29,118 to €203
mainly Receivables within one year (-€73,428) and Contributions, distributions and other (-€35,000)
- Tangible fixed assets -€18,024
down €18,024 (-14.5%), from €124,718 to €106,694
- Other debts +€35,000
new in 2025: €35,000
- Debts after one year -€22,703
down €22,703 (-12.4%), from €182,422 to €159,719
- Current portion of long-term debt +€10,459
up €10,459 (+47.0%), from €22,244 to €32,703
- Financial income -€40,000
no longer reported in 2025 (was €40,000)
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 | €364,649 | €389,929 | +€25,280 | +6.9% |
| Fixed assets | 21/28 | €278,412 | €260,388 | -€18,024 | -6.5% |
| Tangible fixed assets | 22/27 | €124,718 | €106,694 | -€18,024 | -14.5% |
| Land and buildings | 22 | €124,718 | €106,694 | -€18,024 | -14.5% |
| Financial fixed assets | 28 | €153,694 | €153,694 | = | 0.0% |
| Current assets | 29/58 | €86,237 | €129,541 | +€43,304 | +50.2% |
| Amounts receivable within one year | 40/41 | €39,432 | €112,860 | +€73,428 | +186% |
| Other amounts receivable | 41 | €39,432 | €112,860 | +€73,428 | +186% |
| Cash at bank and in hand | 54/58 | €29,118 | €203 | -€28,915 | -99.3% |
| Deferred charges and accrued income | 490/1 | €17,687 | €16,478 | -€1,209 | -6.8% |
| Total equity and liabilities | 10/49 | €364,649 | €389,929 | +€25,280 | +6.9% |
| Equity | 10/15 | €140,793 | €139,539 | -€1,254 | -0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,733 | €131,479 | -€1,254 | -0.9% |
| Amounts payable | 17/49 | €223,856 | €250,390 | +€26,534 | +11.9% |
| Amounts payable after more than one year | 17 | €182,422 | €159,719 | -€22,703 | -12.4% |
| Financial debts | 170/4 | €182,422 | €159,719 | -€22,703 | -12.4% |
| Amounts payable within one year | 42/48 | €41,434 | €90,671 | +€49,237 | +119% |
| Current portion of amounts payable after more than one year | 42 | €22,244 | €32,703 | +€10,459 | +47.0% |
| Trade debts | 44 | €9,068 | €12,846 | +€3,778 | +41.7% |
| Suppliers | 440/4 | €9,068 | €12,846 | +€3,778 | +41.7% |
| Taxes, remuneration and social security | 45 | €10,122 | €10,122 | = | 0.0% |
| Taxes | 450/3 | €10,122 | €10,122 | = | 0.0% |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,024 | €18,024 | = | 0.0% |
| Other operating charges | 640/8 | €2,839 | €2,903 | +€64 | +2.3% |
| Gross operating margin | 9900 | €71,385 | €70,817 | -€568 | -0.8% |
| Operating profit (loss) | 9901 | €50,522 | €49,890 | -€632 | -1.3% |
| Financial income | 75/76B | €40,000 | - | -€40,000 | |
| Recurring financial income | 75 | €40,000 | - | -€40,000 | |
| Financial charges | 65/66B | €5,156 | €4,719 | -€437 | -8.5% |
| Recurring financial charges | 65 | €5,156 | €4,719 | -€437 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €85,366 | €45,171 | -€40,195 | -47.1% |
| Income taxes | 67/77 | €12,122 | €11,425 | -€697 | -5.7% |
| Profit (loss) for the period | 9904 | €73,244 | €33,746 | -€39,498 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,244 | €33,746 | -€39,498 | -53.9% |
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 19 October 2026 via checked.be.