JUUL: 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.
JUUL
Largest movements
- Current investments +€539,165
up €539,165 (+64.6%), from €834,122 to €1.4m
- Cash -€104,953
down €104,953 (-35.3%), from €297,020 to €192,067
mainly Current investments (-€539,165) and Other debts (-€263,527)
- Receivables after one year -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Tangible fixed assets -€36,690
down €36,690 (-16.1%), from €227,313 to €190,623
of which Furniture and vehicles: -€27,929
- Reserves +€514,679
up €514,679 (+32.2%), from €1.6m to €2.1m
- Other debts -€263,527
down €263,527 (-94.7%), from €278,282 to €14,755
- Tax, wage and social debts +€24,955
up €24,955 (+63.1%), from €39,536 to €64,491
- Gross operating margin +€242,250
up €242,250 (+42.9%), from €564,937 to €807,187
- Taxes +€55,407
up €55,407 (+30.1%), from €184,193 to €239,600
- Depreciation +€33,116
up €33,116 (+173.6%), from €19,073 to €52,189
- Financial income -€27,390
down €27,390 (-40.8%), from €67,124 to €39,734
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 | €1,935,956 | €2,214,240 | +€278,284 | +14.4% |
| Fixed assets | 21/28 | €332,696 | €296,006 | -€36,690 | -11.0% |
| Tangible fixed assets | 22/27 | €227,313 | €190,623 | -€36,690 | -16.1% |
| Furniture and vehicles | 24 | €184,359 | €156,430 | -€27,929 | -15.1% |
| Other tangible fixed assets | 26 | €42,954 | €34,193 | -€8,761 | -20.4% |
| Financial fixed assets | 28 | €105,383 | €105,383 | = | 0.0% |
| Current assets | 29/58 | €1,603,260 | €1,918,234 | +€314,974 | +19.6% |
| Amounts receivable after more than one year | 29 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Other amounts receivable | 291 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Amounts receivable within one year | 40/41 | €25,002 | €12,942 | -€12,060 | -48.2% |
| Trade receivables | 40 | - | €176 | +€176 | |
| Other amounts receivable | 41 | €25,002 | €12,766 | -€12,236 | -48.9% |
| Current investments | 50/53 | €834,122 | €1,373,287 | +€539,165 | +64.6% |
| Cash at bank and in hand | 54/58 | €297,020 | €192,067 | -€104,953 | -35.3% |
| Deferred charges and accrued income | 490/1 | €47,116 | €39,938 | -€7,178 | -15.2% |
| Total equity and liabilities | 10/49 | €1,935,956 | €2,214,240 | +€278,284 | +14.4% |
| Equity | 10/15 | €1,612,519 | €2,127,198 | +€514,679 | +31.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,600,119 | €2,114,798 | +€514,679 | +32.2% |
| Distributable reserves | 133 | €1,600,119 | €2,114,798 | +€514,679 | +32.2% |
| Amounts payable | 17/49 | €323,437 | €87,042 | -€236,395 | -73.1% |
| Amounts payable within one year | 42/48 | €323,437 | €87,042 | -€236,395 | -73.1% |
| Trade debts | 44 | €5,619 | €7,796 | +€2,177 | +38.7% |
| Suppliers | 440/4 | €5,619 | €7,796 | +€2,177 | +38.7% |
| Taxes, remuneration and social security | 45 | €39,536 | €64,491 | +€24,955 | +63.1% |
| Taxes | 450/3 | €39,536 | €64,491 | +€24,955 | +63.1% |
| Other amounts payable | 47/48 | €278,282 | €14,755 | -€263,527 | -94.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,073 | €52,189 | +€33,116 | +173.6% |
| Other operating charges | 640/8 | €4,380 | €3,785 | -€595 | -13.6% |
| Non-recurring operating charges | 66A | €258 | €63 | -€195 | -75.6% |
| Gross operating margin | 9900 | €564,937 | €807,187 | +€242,250 | +42.9% |
| Operating profit (loss) | 9901 | €541,226 | €751,150 | +€209,924 | +38.8% |
| Financial income | 75/76B | €67,124 | €39,734 | -€27,390 | -40.8% |
| Recurring financial income | 75 | €67,124 | €39,734 | -€27,390 | -40.8% |
| Financial charges | 65/66B | €32,148 | €36,605 | +€4,457 | +13.9% |
| Recurring financial charges | 65 | €32,148 | €36,605 | +€4,457 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €576,202 | €754,279 | +€178,077 | +30.9% |
| Income taxes | 67/77 | €184,193 | €239,600 | +€55,407 | +30.1% |
| Profit (loss) for the period | 9904 | €392,009 | €514,679 | +€122,670 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €392,009 | €514,679 | +€122,670 | +31.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.