Management JB: 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.
Management JB
Largest movements
- Financial fixed assets +€215,891
new in 2025: €215,891
- Cash -€17,976
down €17,976 (-31.2%), from €57,689 to €39,713
mainly Investment in fixed assets (net) (-€223,009) and Receivables within one year (-€12,230)
- Receivables within one year +€12,230
new in 2025: €12,230
- Tangible fixed assets -€5,514
down €5,514 (-24.1%), from €22,886 to €17,373
of which Furniture and vehicles: -€11,725
- Debts after one year +€164,304
up €164,304 (+886.1%), from €18,541 to €182,845
- Reserves +€21,497
up €21,497 (+72.6%), from €29,621 to €51,118
- Current portion of long-term debt +€16,680
up €16,680 (+185.0%), from €9,016 to €25,696
- Gross operating margin +€8,364
up €8,364 (+21.5%), from €38,938 to €47,302
- Taxes +€3,736
up €3,736 (+50.8%), from €7,354 to €11,089
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 | €81,976 | €286,527 | +€204,550 | +249.5% |
| Fixed assets | 21/28 | €22,886 | €233,264 | +€210,377 | +919.2% |
| Tangible fixed assets | 22/27 | €22,886 | €17,373 | -€5,514 | -24.1% |
| Plant, machinery and equipment | 23 | €625 | €75 | -€550 | -88.0% |
| Furniture and vehicles | 24 | €22,261 | €10,536 | -€11,725 | -52.7% |
| Other tangible fixed assets | 26 | - | €6,761 | +€6,761 | |
| Financial fixed assets | 28 | - | €215,891 | +€215,891 | |
| Current assets | 29/58 | €59,090 | €53,263 | -€5,827 | -9.9% |
| Amounts receivable within one year | 40/41 | - | €12,230 | +€12,230 | |
| Trade receivables | 40 | - | €12,230 | +€12,230 | |
| Cash at bank and in hand | 54/58 | €57,689 | €39,713 | -€17,976 | -31.2% |
| Deferred charges and accrued income | 490/1 | €1,401 | €1,320 | -€81 | -5.8% |
| Total equity and liabilities | 10/49 | €81,976 | €286,527 | +€204,550 | +249.5% |
| Equity | 10/15 | €34,621 | €56,118 | +€21,497 | +62.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €29,621 | €51,118 | +€21,497 | +72.6% |
| Distributable reserves | 133 | €29,621 | €51,118 | +€21,497 | +72.6% |
| Amounts payable | 17/49 | €47,355 | €230,409 | +€183,053 | +386.6% |
| Amounts payable after more than one year | 17 | €18,541 | €182,845 | +€164,304 | +886.1% |
| Financial debts | 170/4 | €18,541 | €182,845 | +€164,304 | +886.1% |
| Amounts payable within one year | 42/48 | €24,909 | €43,973 | +€19,065 | +76.5% |
| Current portion of amounts payable after more than one year | 42 | €9,016 | €25,696 | +€16,680 | +185.0% |
| Trade debts | 44 | €599 | €1,850 | +€1,251 | +208.9% |
| Suppliers | 440/4 | €599 | €1,850 | +€1,251 | +208.9% |
| Taxes, remuneration and social security | 45 | €15,063 | €16,059 | +€996 | +6.6% |
| Taxes | 450/3 | €13,063 | €14,059 | +€996 | +7.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €231 | €368 | +€137 | +59.2% |
| Accrued charges and deferred income | 492/3 | €3,905 | €3,590 | -€315 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,275 | €12,631 | +€357 | +2.9% |
| Other operating charges | 640/8 | €158 | €563 | +€405 | +256.4% |
| Gross operating margin | 9900 | €38,938 | €47,302 | +€8,364 | +21.5% |
| Operating profit (loss) | 9901 | €26,505 | €34,108 | +€7,602 | +28.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,696 | €1,522 | -€174 | -10.3% |
| Recurring financial charges | 65 | €1,696 | €1,522 | -€174 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €24,810 | €32,586 | +€7,776 | +31.3% |
| Income taxes | 67/77 | €7,354 | €11,089 | +€3,736 | +50.8% |
| Profit (loss) for the period | 9904 | €17,456 | €21,497 | +€4,041 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,456 | €21,497 | +€4,041 | +23.1% |
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.