RJ: 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.
RJ
Largest movements
- Stocks and contracts -€124,819
down €124,819 (-26.6%), from €468,961 to €344,141
- Receivables within one year +€41,831
up €41,831 (+501.7%), from €8,338 to €50,170
of which Trade receivables: +€41,831
- Cash -€22,906
down €22,906 (-28.2%), from €81,089 to €58,183
mainly Debts after one year (-€113,500) and Receivables within one year (-€41,831)
- Tangible fixed assets -€6,598
down €6,598 (-19.8%), from €33,322 to €26,724
of which Other tangible fixed assets: -€3,751
- Debts after one year -€113,500
down €113,500 (-21.6%), from €525,609 to €412,109
- Other debts -€19,985
down €19,985 (-85.1%), from €23,477 to €3,492
- Tax, wage and social debts +€17,953
up €17,953 (+52.7%), from €34,078 to €52,031
of which Taxes: +€13,614
- Profit (loss) carried forward +€6,799
up €6,799 (+2.1%), from -€320,438 to -€313,639
- Gross operating margin +€192,299
up €192,299, from -€84,144 to €108,155
- Other operating charges -€5,220
down €5,220 (-63.9%), from €8,166 to €2,945
- Depreciation -€1,995
down €1,995 (-23.2%), from €8,593 to €6,598
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €603,211 | €490,719 | -€112,492 | -18.6% |
| Fixed assets | 21/28 | €44,822 | €38,224 | -€6,598 | -14.7% |
| Tangible fixed assets | 22/27 | €33,322 | €26,724 | -€6,598 | -19.8% |
| Plant, machinery and equipment | 23 | €11,010 | €8,859 | -€2,151 | -19.5% |
| Furniture and vehicles | 24 | €1,518 | €822 | -€696 | -45.8% |
| Other tangible fixed assets | 26 | €20,794 | €17,043 | -€3,751 | -18.0% |
| Financial fixed assets | 28 | €11,500 | €11,500 | = | 0.0% |
| Current assets | 29/58 | €558,388 | €452,495 | -€105,894 | -19.0% |
| Stocks and contracts in progress | 3 | €468,961 | €344,141 | -€124,819 | -26.6% |
| Stocks | 30/36 | €468,961 | €344,141 | -€124,819 | -26.6% |
| Amounts receivable within one year | 40/41 | €8,338 | €50,170 | +€41,831 | +501.7% |
| Trade receivables | 40 | €8,217 | €50,048 | +€41,831 | +509.1% |
| Other amounts receivable | 41 | €121 | €121 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €81,089 | €58,183 | -€22,906 | -28.2% |
| Total equity and liabilities | 10/49 | €603,211 | €490,719 | -€112,492 | -18.6% |
| Equity | 10/15 | -€68,678 | -€61,879 | +€6,799 | +9.9% |
| Contributions | 10/11 | €178,600 | €178,600 | = | 0.0% |
| Contributions outside capital | 11 | €178,600 | €178,600 | = | 0.0% |
| Other | 1109/19 | €178,600 | €178,600 | = | 0.0% |
| Reserves | 13 | €73,160 | €73,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,360 | €4,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,360 | €4,360 | = | 0.0% |
| Distributable reserves | 133 | €68,800 | €68,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,438 | -€313,639 | +€6,799 | +2.1% |
| Provisions and deferred taxes | 16 | €9,080 | €9,080 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,080 | €9,080 | = | 0.0% |
| Pensions and similar obligations | 160 | €9,080 | €9,080 | = | 0.0% |
| Amounts payable | 17/49 | €662,809 | €543,518 | -€119,291 | -18.0% |
| Amounts payable after more than one year | 17 | €525,609 | €412,109 | -€113,500 | -21.6% |
| Financial debts | 170/4 | €525,609 | €412,109 | -€113,500 | -21.6% |
| Amounts payable within one year | 42/48 | €137,200 | €131,409 | -€5,791 | -4.2% |
| Trade debts | 44 | €79,645 | €75,887 | -€3,759 | -4.7% |
| Suppliers | 440/4 | €79,645 | €75,887 | -€3,759 | -4.7% |
| Taxes, remuneration and social security | 45 | €34,078 | €52,031 | +€17,953 | +52.7% |
| Taxes | 450/3 | €26,768 | €40,382 | +€13,614 | +50.9% |
| Remuneration and social security | 454/9 | €7,309 | €11,648 | +€4,339 | +59.4% |
| Other amounts payable | 47/48 | €23,477 | €3,492 | -€19,985 | -85.1% |
| Remuneration, social security and pensions | 62 | €88,252 | €89,310 | +€1,058 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,593 | €6,598 | -€1,995 | -23.2% |
| Other operating charges | 640/8 | €8,166 | €2,945 | -€5,220 | -63.9% |
| Gross operating margin | 9900 | -€84,144 | €108,155 | +€192,299 | |
| Operating profit (loss) | 9901 | -€189,154 | €9,301 | +€198,456 | |
| Financial income | 75/76B | €116 | €3 | -€113 | -97.5% |
| Recurring financial income | 75 | €116 | €3 | -€113 | -97.5% |
| Financial charges | 65/66B | €2,507 | €2,260 | -€247 | -9.8% |
| Recurring financial charges | 65 | €2,507 | €2,260 | -€247 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€191,545 | €7,045 | +€198,590 | |
| Income taxes | 67/77 | €796 | €246 | -€550 | -69.1% |
| Profit (loss) for the period | 9904 | -€192,341 | €6,799 | +€199,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€192,341 | €6,799 | +€199,140 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.