RJC: 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.
RJC
Largest movements
- Receivables after one year -€500,000
no longer reported in 2025 (was €500,000)
- Cash -€86,804
down €86,804 (-43.8%), from €198,226 to €111,422
mainly Contributions, distributions and other (-€473,388) and Other debts (-€229,758)
- Receivables within one year +€10,771
up €10,771 (+35.3%), from €30,552 to €41,323
of which Trade receivables: +€19,428
- Profit (loss) carried forward -€339,365
down €339,365 (-67.6%), from €502,126 to €162,761
- Other debts -€229,758
down €229,758 (-94.7%), from €242,595 to €12,837
- Debts after one year -€15,128
down €15,128 (-35.1%), from €43,139 to €28,011
- Current portion of long-term debt +€13,939
up €13,939 (+96.0%), from €14,523 to €28,462
- Gross operating margin -€19,897
down €19,897 (-9.0%), from €220,373 to €200,476
- Taxes -€8,619
down €8,619 (-18.2%), from €47,417 to €38,798
- Financial income -€6,132
down €6,132 (-55.1%), from €11,132 to €5,000
- Depreciation +€5,992
up €5,992 (+26.5%), from €22,586 to €28,578
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 | €828,466 | €251,556 | -€576,910 | -69.6% |
| Fixed assets | 21/28 | €96,842 | €95,805 | -€1,037 | -1.1% |
| Tangible fixed assets | 22/27 | €92,192 | €91,155 | -€1,037 | -1.1% |
| Furniture and vehicles | 24 | €92,192 | €91,155 | -€1,037 | -1.1% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €731,624 | €155,751 | -€575,873 | -78.7% |
| Amounts receivable after more than one year | 29 | €500,000 | - | -€500,000 | |
| Other amounts receivable | 291 | €500,000 | - | -€500,000 | |
| Amounts receivable within one year | 40/41 | €30,552 | €41,323 | +€10,771 | +35.3% |
| Trade receivables | 40 | €20,522 | €39,950 | +€19,428 | +94.7% |
| Other amounts receivable | 41 | €10,030 | €1,373 | -€8,657 | -86.3% |
| Cash at bank and in hand | 54/58 | €198,226 | €111,422 | -€86,804 | -43.8% |
| Deferred charges and accrued income | 490/1 | €2,846 | €3,006 | +€160 | +5.6% |
| Total equity and liabilities | 10/49 | €828,466 | €251,556 | -€576,910 | -69.6% |
| Equity | 10/15 | €520,676 | €181,311 | -€339,365 | -65.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €502,126 | €162,761 | -€339,365 | -67.6% |
| Amounts payable | 17/49 | €307,790 | €70,245 | -€237,545 | -77.2% |
| Amounts payable after more than one year | 17 | €43,139 | €28,011 | -€15,128 | -35.1% |
| Financial debts | 170/4 | €43,139 | €28,011 | -€15,128 | -35.1% |
| Amounts payable within one year | 42/48 | €264,651 | €42,234 | -€222,417 | -84.0% |
| Current portion of amounts payable after more than one year | 42 | €14,523 | €28,462 | +€13,939 | +96.0% |
| Trade debts | 44 | €1,955 | €935 | -€1,020 | -52.2% |
| Suppliers | 440/4 | €1,955 | €935 | -€1,020 | -52.2% |
| Taxes, remuneration and social security | 45 | €5,578 | - | -€5,578 | |
| Taxes | 450/3 | €5,578 | - | -€5,578 | |
| Other amounts payable | 47/48 | €242,595 | €12,837 | -€229,758 | -94.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,586 | €28,578 | +€5,992 | +26.5% |
| Other operating charges | 640/8 | €2,302 | €1,207 | -€1,095 | -47.6% |
| Gross operating margin | 9900 | €220,373 | €200,476 | -€19,897 | -9.0% |
| Operating profit (loss) | 9901 | €195,485 | €170,691 | -€24,794 | -12.7% |
| Financial income | 75/76B | €11,132 | €5,000 | -€6,132 | -55.1% |
| Recurring financial income | 75 | €11,132 | €5,000 | -€6,132 | -55.1% |
| Financial charges | 65/66B | €3,578 | €2,870 | -€708 | -19.8% |
| Recurring financial charges | 65 | €3,578 | €2,870 | -€708 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €203,039 | €172,821 | -€30,218 | -14.9% |
| Income taxes | 67/77 | €47,417 | €38,798 | -€8,619 | -18.2% |
| Profit (loss) for the period | 9904 | €155,622 | €134,023 | -€21,599 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €155,622 | €134,023 | -€21,599 | -13.9% |
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 28 September 2026 via checked.be.