Justinianus: 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.
Justinianus
Largest movements
- Cash +€350,327
up €350,327 (+138.6%), from €252,817 to €603,143
mainly Net result for the year (+€299,327) and Current investments (+€220,000)
- Current investments -€220,000
down €220,000 (-100.0%), from €220,000 to €0
- Receivables after one year -€193,638
down €193,638 (-44.6%), from €433,772 to €240,134
- Receivables within one year +€35,858
up €35,858 (+31.2%), from €114,830 to €150,689
of which Other amounts receivable: +€34,053
- Tangible fixed assets -€23,079
down €23,079 (-5.6%), from €409,302 to €386,223
of which Land and buildings: -€20,236
- Reserves -€36,755
down €36,755 (-2.3%), from €1.6m to €1.6m
of which Distributable reserves: -€36,755
- Financial income +€104,156
up €104,156 (+107.0%), from €97,301 to €201,457
- Gross operating margin -€60,525
down €60,525 (-22.7%), from €266,781 to €206,257
- Taxes -€9,086
down €9,086 (-10.7%), from €84,871 to €75,785
- Other operating charges +€4,416
up €4,416 (+217.6%), from €2,029 to €6,445
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 | €1,714,477 | €1,665,204 | -€49,274 | -2.9% |
| Fixed assets | 21/28 | €692,302 | €669,223 | -€23,079 | -3.3% |
| Tangible fixed assets | 22/27 | €409,302 | €386,223 | -€23,079 | -5.6% |
| Land and buildings | 22 | €392,324 | €372,088 | -€20,236 | -5.2% |
| Plant, machinery and equipment | 23 | €9,580 | €7,583 | -€1,996 | -20.8% |
| Furniture and vehicles | 24 | €7,398 | €6,552 | -€846 | -11.4% |
| Financial fixed assets | 28 | €283,000 | €283,000 | = | 0.0% |
| Current assets | 29/58 | €1,022,175 | €995,980 | -€26,195 | -2.6% |
| Amounts receivable after more than one year | 29 | €433,772 | €240,134 | -€193,638 | -44.6% |
| Other amounts receivable | 291 | €433,772 | €240,134 | -€193,638 | -44.6% |
| Amounts receivable within one year | 40/41 | €114,830 | €150,689 | +€35,858 | +31.2% |
| Trade receivables | 40 | €0 | €1,805 | +€1,805 | |
| Other amounts receivable | 41 | €114,830 | €148,883 | +€34,053 | +29.7% |
| Current investments | 50/53 | €220,000 | €0 | -€220,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €252,817 | €603,143 | +€350,327 | +138.6% |
| Deferred charges and accrued income | 490/1 | €757 | €2,015 | +€1,258 | +166.3% |
| Total equity and liabilities | 10/49 | €1,714,477 | €1,665,204 | -€49,274 | -2.9% |
| Equity | 10/15 | €1,651,193 | €1,614,438 | -€36,755 | -2.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,631,193 | €1,594,438 | -€36,755 | -2.3% |
| Non-distributable reserves | 130/1 | €26,290 | €26,290 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,290 | €26,290 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,586,153 | €1,549,398 | -€36,755 | -2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €63,284 | €50,766 | -€12,518 | -19.8% |
| Amounts payable after more than one year | 17 | €17,000 | €0 | -€17,000 | -100.0% |
| Financial debts | 170/4 | €17,000 | €0 | -€17,000 | -100.0% |
| Amounts payable within one year | 42/48 | €46,284 | €50,766 | +€4,482 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €17,000 | +€0 | 0.0% |
| Financial debts | 43 | €540 | €1,040 | +€500 | +92.7% |
| Credit institutions | 430/8 | €540 | €1,040 | +€500 | +92.7% |
| Trade debts | 44 | €523 | €789 | +€266 | +50.8% |
| Suppliers | 440/4 | €523 | €789 | +€266 | +50.8% |
| Taxes, remuneration and social security | 45 | €28,221 | €31,937 | +€3,715 | +13.2% |
| Taxes | 450/3 | €28,221 | €31,937 | +€3,715 | +13.2% |
| Non-recurring operating income | 76A | - | €23,217 | +€23,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,728 | €24,641 | -€88 | -0.4% |
| Other operating charges | 640/8 | €2,029 | €6,445 | +€4,416 | +217.6% |
| Gross operating margin | 9900 | €266,781 | €206,257 | -€60,525 | -22.7% |
| Operating profit (loss) | 9901 | €240,023 | €175,171 | -€64,852 | -27.0% |
| Financial income | 75/76B | €97,301 | €201,457 | +€104,156 | +107.0% |
| Recurring financial income | 75 | €97,301 | €201,457 | +€104,156 | +107.0% |
| Financial charges | 65/66B | €1,606 | €1,516 | -€90 | -5.6% |
| Recurring financial charges | 65 | €1,606 | €1,516 | -€90 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €335,718 | €375,112 | +€39,393 | +11.7% |
| Income taxes | 67/77 | €84,871 | €75,785 | -€9,086 | -10.7% |
| Profit (loss) for the period | 9904 | €250,848 | €299,327 | +€48,480 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €250,848 | €299,327 | +€48,480 | +19.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.