RJC: what changed
RJC
Largest movements
- Receivables within one year -€20,476
down €20,476 (-20.0%), from €102,230 to €81,755
of which Trade receivables: -€75,368
- Cash +€4,264
new in 2025: €4,264
mainly Net result for the year (+€25,869) and Receivables within one year (+€20,476)
- Tangible fixed assets -€3,184
down €3,184 (-40.8%), from €7,799 to €4,615
- Deferred charges and accrued income +€2,839
up €2,839 (+145%), from €1,959 to €4,798
- Accrued charges and deferred income -€51,200
no longer reported in 2025 (was €51,200)
- Reserves +€24,203
up €24,203 (+4,382%), from €552 to €24,755
- Short-term financial debts +€14,008
up €14,008 (+70.4%), from €19,887 to €33,895
of which Other loans: +€33,895
- Other debts -€11,355
down €11,355 (-87.2%), from €13,021 to €1,666
- Trade debts +€8,114
up €8,114 (+253%), from €3,204 to €11,318
- Gross operating margin +€38,503
up €38,503 (+601%), from €6,403 to €44,906
- Financial charges +€9,019
up €9,019 (+669%), from €1,348 to €10,367
- Taxes +€6,910
up €6,910 (+642%), from €1,077 to €7,987
- Financial income +€2,930
up €2,930 (+29,304,600%), from €0 to €2,930
- Depreciation +€628
up €628 (+24.6%), from €2,556 to €3,184
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,989 | €95,431 | -€16,557 | -14.8% |
| Fixed assets | 21/28 | €7,799 | €4,615 | -€3,184 | -40.8% |
| Tangible fixed assets | 22/27 | €7,799 | €4,615 | -€3,184 | -40.8% |
| Furniture and vehicles | 24 | €7,799 | €4,615 | -€3,184 | -40.8% |
| Current assets | 29/58 | €104,190 | €90,816 | -€13,373 | -12.8% |
| Amounts receivable within one year | 40/41 | €102,230 | €81,755 | -€20,476 | -20.0% |
| Trade receivables | 40 | €102,230 | €26,862 | -€75,368 | -73.7% |
| Other amounts receivable | 41 | - | €54,893 | +€54,893 | |
| Cash at bank and in hand | 54/58 | - | €4,264 | +€4,264 | |
| Deferred charges and accrued income | 490/1 | €1,959 | €4,798 | +€2,839 | +145% |
| Total equity and liabilities | 10/49 | €111,989 | €95,431 | -€16,557 | -14.8% |
| Equity | 10/15 | €3,552 | €27,755 | +€24,203 | +681% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €552 | €24,755 | +€24,203 | +4,382% |
| Distributable reserves | 133 | €552 | €24,755 | +€24,203 | +4,382% |
| Amounts payable | 17/49 | €108,436 | €67,677 | -€40,760 | -37.6% |
| Amounts payable within one year | 42/48 | €57,236 | €67,677 | +€10,440 | +18.2% |
| Financial debts | 43 | €19,887 | €33,895 | +€14,008 | +70.4% |
| Credit institutions | 430/8 | €19,887 | - | -€19,887 | |
| Other loans | 439 | - | €33,895 | +€33,895 | |
| Trade debts | 44 | €3,204 | €11,318 | +€8,114 | +253% |
| Suppliers | 440/4 | €3,204 | €11,318 | +€8,114 | +253% |
| Taxes, remuneration and social security | 45 | €21,125 | €20,798 | -€327 | -1.5% |
| Taxes | 450/3 | €21,125 | €20,798 | -€327 | -1.5% |
| Other amounts payable | 47/48 | €13,021 | €1,666 | -€11,355 | -87.2% |
| Accrued charges and deferred income | 492/3 | €51,200 | - | -€51,200 | |
| Non-recurring operating income | 76A | - | €1,553 | +€1,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,556 | €3,184 | +€628 | +24.6% |
| Other operating charges | 640/8 | €870 | €431 | -€440 | -50.5% |
| Gross operating margin | 9900 | €6,403 | €44,906 | +€38,503 | +601% |
| Operating profit (loss) | 9901 | €2,977 | €41,292 | +€38,315 | +1,287% |
| Financial income | 75/76B | €0 | €2,930 | +€2,930 | +29,304,600% |
| Recurring financial income | 75 | €0 | €2,930 | +€2,930 | +29,304,600% |
| Financial charges | 65/66B | €1,348 | €10,367 | +€9,019 | +669% |
| Recurring financial charges | 65 | €1,348 | €10,367 | +€9,019 | +669% |
| Profit (loss) for the period before taxes | 9903 | €1,629 | €33,856 | +€32,226 | +1,978% |
| Income taxes | 67/77 | €1,077 | €7,987 | +€6,910 | +642% |
| Profit (loss) for the period | 9904 | €552 | €25,869 | +€25,316 | +4,583% |
| Profit (loss) for the period to be appropriated | 9905 | €552 | €25,869 | +€25,316 | +4,583% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.