CLAUDE JADOT: 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.
CLAUDE JADOT
Largest movements
- Cash +€307,418
up €307,418 (+29.4%), from €1.0m to €1.4m
mainly Net result for the year (+€299,613) and Advances received (+€87,964)
- Receivables within one year +€71,449
up €71,449 (+40.8%), from €175,005 to €246,454
of which Trade receivables: +€84,458
- Tangible fixed assets -€29,917
down €29,917 (-12.7%), from €235,240 to €205,323
of which Land and buildings: -€17,329
- Profit (loss) carried forward +€299,613
up €299,613 (+63.2%), from €473,873 to €773,486
- Advances received +€87,964
up €87,964 (+37.7%), from €233,322 to €321,287
- Provisions -€52,500
down €52,500 (-100%), from €52,500 to €0
- Current portion of long-term debt -€24,999
down €24,999 (-100%), from €24,999 to €0
- Provisions -€52,500
new in 2025: -€52,500
- Gross operating margin +€19,390
up €19,390 (+3.9%), from €492,420 to €511,810
- Taxes -€17,353
down €17,353 (-17.1%), from €101,599 to €84,246
- Depreciation +€8,002
up €8,002 (+20.2%), from €39,515 to €47,517
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.
Derived cash bridge
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 | €1,645,465 | €1,959,685 | +€314,220 | +19.1% |
| Fixed assets | 21/28 | €377,769 | €330,253 | -€47,517 | -12.6% |
| Intangible fixed assets | 21 | €141,957 | €124,357 | -€17,600 | -12.4% |
| Tangible fixed assets | 22/27 | €235,240 | €205,323 | -€29,917 | -12.7% |
| Land and buildings | 22 | €181,986 | €164,657 | -€17,329 | -9.5% |
| Plant, machinery and equipment | 23 | €13,423 | €10,516 | -€2,907 | -21.7% |
| Furniture and vehicles | 24 | €39,831 | €30,151 | -€9,680 | -24.3% |
| Financial fixed assets | 28 | €572 | €572 | = | 0.0% |
| Current assets | 29/58 | €1,267,696 | €1,629,433 | +€361,737 | +28.5% |
| Stocks and contracts in progress | 3 | €34,611 | €18,448 | -€16,163 | -46.7% |
| Stocks | 30/36 | €34,611 | €18,448 | -€16,163 | -46.7% |
| Amounts receivable within one year | 40/41 | €175,005 | €246,454 | +€71,449 | +40.8% |
| Trade receivables | 40 | €55,126 | €139,584 | +€84,458 | +153% |
| Other amounts receivable | 41 | €119,879 | €106,870 | -€13,009 | -10.9% |
| Cash at bank and in hand | 54/58 | €1,045,234 | €1,352,652 | +€307,418 | +29.4% |
| Deferred charges and accrued income | 490/1 | €12,846 | €11,878 | -€968 | -7.5% |
| Total equity and liabilities | 10/49 | €1,645,465 | €1,959,685 | +€314,220 | +19.1% |
| Equity | 10/15 | €545,356 | €844,969 | +€299,613 | +54.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €9,482 | €9,482 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,282 | €3,282 | = | 0.0% |
| Profit (loss) carried forward | 14 | €473,873 | €773,486 | +€299,613 | +63.2% |
| Provisions and deferred taxes | 16 | €52,500 | €0 | -€52,500 | -100% |
| Provisions for liabilities and charges | 160/5 | €52,500 | €0 | -€52,500 | -100% |
| Major repairs and maintenance | 162 | €52,500 | €0 | -€52,500 | -100% |
| Amounts payable | 17/49 | €1,047,610 | €1,114,716 | +€67,107 | +6.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,047,610 | €1,114,716 | +€67,107 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €24,999 | €0 | -€24,999 | -100% |
| Financial debts | 43 | €6,667 | €0 | -€6,667 | -100% |
| Credit institutions | 430/8 | €6,667 | €0 | -€6,667 | -100% |
| Trade debts | 44 | €682,932 | €701,480 | +€18,547 | +2.7% |
| Suppliers | 440/4 | €682,932 | €701,480 | +€18,547 | +2.7% |
| Advances received on contracts in progress | 46 | €233,322 | €321,287 | +€87,964 | +37.7% |
| Taxes, remuneration and social security | 45 | €99,689 | €91,950 | -€7,739 | -7.8% |
| Taxes | 450/3 | €78,047 | €68,627 | -€9,420 | -12.1% |
| Remuneration and social security | 454/9 | €21,642 | €23,323 | +€1,681 | +7.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €4,132 | +€4,132 | |
| Remuneration, social security and pensions | 62 | €118,725 | €123,601 | +€4,876 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,515 | €47,517 | +€8,002 | +20.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€52,500 | -€52,500 | |
| Other operating charges | 640/8 | €3,507 | €4,390 | +€883 | +25.2% |
| Gross operating margin | 9900 | €492,420 | €511,810 | +€19,390 | +3.9% |
| Operating profit (loss) | 9901 | €330,673 | €388,803 | +€58,130 | +17.6% |
| Financial income | 75/76B | €102 | €307 | +€206 | +202% |
| Recurring financial income | 75 | €102 | €307 | +€206 | +202% |
| Financial charges | 65/66B | €5,614 | €5,251 | -€363 | -6.5% |
| Recurring financial charges | 65 | €5,614 | €5,251 | -€363 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €325,161 | €383,859 | +€58,699 | +18.1% |
| Income taxes | 67/77 | €101,599 | €84,246 | -€17,353 | -17.1% |
| Profit (loss) for the period | 9904 | €223,561 | €299,613 | +€76,052 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,561 | €299,613 | +€76,052 | +34.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.