RJL: 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.
RJL
Largest movements
- Tangible fixed assets +€480,139
up €480,139 (+29.1%), from €1.6m to €2.1m
of which Plant, machinery and equipment: +€271,464
- Receivables within one year -€200,677
down €200,677 (-59.2%), from €338,747 to €138,070
of which Trade receivables: -€278,326
- Debts after one year +€169,049
up €169,049 (+15.5%), from €1.1m to €1.3m
- Current portion of long-term debt +€68,416
up €68,416 (+70.2%), from €97,478 to €165,894
- Other debts -€61,319
down €61,319 (-58.7%), from €104,534 to €43,215
- Short-term financial debts +€32,370
up €32,370 (+130.7%), from €24,772 to €57,142
of which Credit institutions: +€23,921
- Trade debts +€30,938
up €30,938 (+18.3%), from €168,729 to €199,666
- Depreciation +€62,239
up €62,239 (+85.9%), from €72,428 to €134,667
- Financial charges +€25,699
up €25,699 (+79.4%), from €32,359 to €58,058
- Taxes -€17,953
down €17,953 (-65.7%), from €27,324 to €9,371
- Gross operating margin +€8,750
up €8,750 (+3.2%), from €269,680 to €278,430
- Other operating charges +€4,120
up €4,120 (+59.1%), from €6,975 to €11,095
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 | €2,015,930 | €2,284,662 | +€268,731 | +13.3% |
| Fixed assets | 21/28 | €1,655,195 | €2,135,334 | +€480,139 | +29.0% |
| Tangible fixed assets | 22/27 | €1,648,546 | €2,128,685 | +€480,139 | +29.1% |
| Land and buildings | 22 | €1,380,387 | €1,591,039 | +€210,651 | +15.3% |
| Plant, machinery and equipment | 23 | €232,777 | €504,241 | +€271,464 | +116.6% |
| Furniture and vehicles | 24 | €35,382 | €33,405 | -€1,977 | -5.6% |
| Financial fixed assets | 28 | €6,649 | €6,649 | = | 0.0% |
| Current assets | 29/58 | €360,735 | €149,328 | -€211,407 | -58.6% |
| Stocks and contracts in progress | 3 | €6,711 | €1,269 | -€5,443 | -81.1% |
| Stocks | 30/36 | €6,711 | €1,269 | -€5,443 | -81.1% |
| Amounts receivable within one year | 40/41 | €338,747 | €138,070 | -€200,677 | -59.2% |
| Trade receivables | 40 | €337,477 | €59,152 | -€278,326 | -82.5% |
| Other amounts receivable | 41 | €1,270 | €78,919 | +€77,648 | +6113.5% |
| Cash at bank and in hand | 54/58 | €9,038 | €394 | -€8,643 | -95.6% |
| Deferred charges and accrued income | 490/1 | €6,239 | €9,595 | +€3,356 | +53.8% |
| Total equity and liabilities | 10/49 | €2,015,930 | €2,284,662 | +€268,731 | +13.3% |
| Equity | 10/15 | €507,863 | €536,316 | +€28,453 | +5.6% |
| Contributions | 10/11 | €113,713 | €113,713 | = | 0.0% |
| Reserves | 13 | €394,150 | €422,603 | +€28,453 | +7.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €394,150 | €422,603 | +€28,453 | +7.2% |
| Amounts payable | 17/49 | €1,508,068 | €1,748,346 | +€240,278 | +15.9% |
| Amounts payable after more than one year | 17 | €1,092,534 | €1,261,583 | +€169,049 | +15.5% |
| Financial debts | 170/4 | €1,092,534 | €1,261,583 | +€169,049 | +15.5% |
| Amounts payable within one year | 42/48 | €412,904 | €483,802 | +€70,898 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €97,478 | €165,894 | +€68,416 | +70.2% |
| Financial debts | 43 | €24,772 | €57,142 | +€32,370 | +130.7% |
| Credit institutions | 430/8 | €24,772 | €48,694 | +€23,921 | +96.6% |
| Other loans | 439 | - | €8,448 | +€8,448 | |
| Trade debts | 44 | €168,729 | €199,666 | +€30,938 | +18.3% |
| Suppliers | 440/4 | €168,729 | €199,666 | +€30,938 | +18.3% |
| Taxes, remuneration and social security | 45 | €17,391 | €17,884 | +€494 | +2.8% |
| Taxes | 450/3 | €11,378 | €15,828 | +€4,450 | +39.1% |
| Remuneration and social security | 454/9 | €6,013 | €2,056 | -€3,956 | -65.8% |
| Other amounts payable | 47/48 | €104,534 | €43,215 | -€61,319 | -58.7% |
| Accrued charges and deferred income | 492/3 | €2,630 | €2,961 | +€332 | +12.6% |
| Remuneration, social security and pensions | 62 | €34,945 | €37,158 | +€2,213 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,428 | €134,667 | +€62,239 | +85.9% |
| Other operating charges | 640/8 | €6,975 | €11,095 | +€4,120 | +59.1% |
| Gross operating margin | 9900 | €269,680 | €278,430 | +€8,750 | +3.2% |
| Operating profit (loss) | 9901 | €155,331 | €95,510 | -€59,822 | -38.5% |
| Financial income | 75/76B | €1 | €372 | +€371 | +53814.5% |
| Recurring financial income | 75 | €1 | €372 | +€371 | +53814.5% |
| Financial charges | 65/66B | €32,359 | €58,058 | +€25,699 | +79.4% |
| Recurring financial charges | 65 | €32,359 | €58,058 | +€25,699 | +79.4% |
| Profit (loss) for the period before taxes | 9903 | €122,974 | €37,824 | -€85,150 | -69.2% |
| Income taxes | 67/77 | €27,324 | €9,371 | -€17,953 | -65.7% |
| Profit (loss) for the period | 9904 | €95,650 | €28,453 | -€67,197 | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €95,650 | €28,453 | -€67,197 | -70.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.