JUSTIPHAR: what changed
Two fiscal 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.
JUSTIPHAR
Largest movements
- Receivables within one year -€45,558
down €45,558 (-91.1%), from €50,008 to €4,450
- Tangible fixed assets -€30,933
down €30,933 (-12.5%), from €247,927 to €216,993
of which Land and buildings: -€29,326
- Cash -€22,330
down €22,330 (-13.4%), from €166,496 to €144,166
mainly Contributions, distributions and other (-€300,000) and Debts after one year (-€6,954)
- Profit (loss) carried forward -€254,337
down €254,337 (-28.1%), from €905,074 to €650,737
- Other debts +€111,378
up €111,378 (+118.0%), from €94,392 to €205,770
- Tax, wage and social debts +€40,828
up €40,828 (+78.3%), from €52,127 to €92,954
- Financial income -€200,000
no longer reported in 2025 (was €200,000)
- Gross operating margin -€4,272
down €4,272 (-4.0%), from €106,367 to €102,095
- Other operating charges +€3,925
up €3,925 (+78.5%), from €5,002 to €8,926
- Taxes -€2,486
down €2,486 (-13.7%), from €18,181 to €15,695
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 | €1,203,883 | €1,104,724 | -€99,159 | -8.2% |
| Fixed assets | 21/28 | €986,320 | €955,386 | -€30,933 | -3.1% |
| Tangible fixed assets | 22/27 | €247,927 | €216,993 | -€30,933 | -12.5% |
| Land and buildings | 22 | €245,133 | €215,808 | -€29,326 | -12.0% |
| Plant, machinery and equipment | 23 | €2,793 | €1,186 | -€1,608 | -57.6% |
| Financial fixed assets | 28 | €738,393 | €738,393 | = | 0.0% |
| Current assets | 29/58 | €217,563 | €149,337 | -€68,226 | -31.4% |
| Amounts receivable within one year | 40/41 | €50,008 | €4,450 | -€45,558 | -91.1% |
| Other amounts receivable | 41 | €50,008 | €4,450 | -€45,558 | -91.1% |
| Cash at bank and in hand | 54/58 | €166,496 | €144,166 | -€22,330 | -13.4% |
| Deferred charges and accrued income | 490/1 | €1,059 | €721 | -€337 | -31.9% |
| Total equity and liabilities | 10/49 | €1,203,883 | €1,104,724 | -€99,159 | -8.2% |
| Equity | 10/15 | €1,034,970 | €780,633 | -€254,337 | -24.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €67,896 | €67,896 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,450 | €50,450 | = | 0.0% |
| Legal reserve | 130 | €50,450 | €50,450 | = | 0.0% |
| Distributable reserves | 133 | €17,446 | €17,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | €905,074 | €650,737 | -€254,337 | -28.1% |
| Amounts payable | 17/49 | €168,913 | €324,090 | +€155,178 | +91.9% |
| Amounts payable after more than one year | 17 | €9,291 | €2,337 | -€6,954 | -74.8% |
| Financial debts | 170/4 | €9,291 | €2,337 | -€6,954 | -74.8% |
| Amounts payable within one year | 42/48 | €159,622 | €312,622 | +€153,001 | +95.9% |
| Current portion of amounts payable after more than one year | 42 | €6,866 | €6,954 | +€88 | +1.3% |
| Trade debts | 44 | €6,237 | €6,944 | +€707 | +11.3% |
| Suppliers | 440/4 | €6,237 | €6,944 | +€707 | +11.3% |
| Taxes, remuneration and social security | 45 | €52,127 | €92,954 | +€40,828 | +78.3% |
| Taxes | 450/3 | €52,127 | €92,954 | +€40,828 | +78.3% |
| Other amounts payable | 47/48 | €94,392 | €205,770 | +€111,378 | +118.0% |
| Accrued charges and deferred income | 492/3 | - | €9,130 | +€9,130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,940 | €30,933 | -€6 | 0.0% |
| Other operating charges | 640/8 | €5,002 | €8,926 | +€3,925 | +78.5% |
| Gross operating margin | 9900 | €106,367 | €102,095 | -€4,272 | -4.0% |
| Operating profit (loss) | 9901 | €70,426 | €62,235 | -€8,191 | -11.6% |
| Financial income | 75/76B | €200,000 | - | -€200,000 | |
| Recurring financial income | 75 | €200,000 | - | -€200,000 | |
| Financial charges | 65/66B | €590 | €877 | +€287 | +48.5% |
| Recurring financial charges | 65 | €590 | €877 | +€287 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | €269,836 | €61,358 | -€208,478 | -77.3% |
| Income taxes | 67/77 | €18,181 | €15,695 | -€2,486 | -13.7% |
| Profit (loss) for the period | 9904 | €251,654 | €45,663 | -€205,991 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €251,654 | €45,663 | -€205,991 | -81.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.