J.A.B.: 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.
J.A.B.
Largest movements
- Tangible fixed assets +€243,177
up €243,177 (+34.5%), from €705,146 to €948,324
of which Land and buildings: +€249,701
- Receivables within one year -€53,777
down €53,777 (-40.8%), from €131,836 to €78,058
of which Other amounts receivable: -€57,422
- Debts after one year +€97,167
up €97,167 (+46.3%), from €209,715 to €306,882
- Trade debts +€53,845
up €53,845 (+484.3%), from €11,118 to €64,963
- Financial income -€203,817
down €203,817 (-94.5%), from €215,576 to €11,759
- Gross operating margin +€21,615
up €21,615 (+17.5%), from €123,801 to €145,416
- Taxes -€10,743
down €10,743 (-46.2%), from €23,259 to €12,516
- Financial charges -€6,219
down €6,219 (-8.5%), from €73,159 to €66,940
- Depreciation +€4,363
up €4,363 (+9.8%), from €44,463 to €48,826
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 | €3,371,969 | €3,562,266 | +€190,297 | +5.6% |
| Fixed assets | 21/28 | €2,705,520 | €2,948,698 | +€243,177 | +9.0% |
| Tangible fixed assets | 22/27 | €705,146 | €948,324 | +€243,177 | +34.5% |
| Land and buildings | 22 | €624,814 | €874,516 | +€249,701 | +40.0% |
| Plant, machinery and equipment | 23 | €24,381 | €33,057 | +€8,676 | +35.6% |
| Furniture and vehicles | 24 | €48,372 | €33,172 | -€15,200 | -31.4% |
| Other tangible fixed assets | 26 | €7,579 | €7,579 | = | 0.0% |
| Financial fixed assets | 28 | €2,000,374 | €2,000,374 | = | 0.0% |
| Current assets | 29/58 | €666,449 | €613,568 | -€52,881 | -7.9% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €131,836 | €78,058 | -€53,777 | -40.8% |
| Trade receivables | 40 | €18,135 | €21,780 | +€3,645 | +20.1% |
| Other amounts receivable | 41 | €113,701 | €56,278 | -€57,422 | -50.5% |
| Cash at bank and in hand | 54/58 | €21,706 | €22,767 | +€1,062 | +4.9% |
| Deferred charges and accrued income | 490/1 | €12,908 | €12,743 | -€165 | -1.3% |
| Total equity and liabilities | 10/49 | €3,371,969 | €3,562,266 | +€190,297 | +5.6% |
| Equity | 10/15 | €2,280,613 | €2,305,342 | +€24,729 | +1.1% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €1,080,613 | €1,105,342 | +€24,729 | +2.3% |
| Distributable reserves | 133 | €1,080,613 | €1,105,342 | +€24,729 | +2.3% |
| Amounts payable | 17/49 | €1,091,356 | €1,256,923 | +€165,568 | +15.2% |
| Amounts payable after more than one year | 17 | €209,715 | €306,882 | +€97,167 | +46.3% |
| Financial debts | 170/4 | €209,715 | €306,882 | +€97,167 | +46.3% |
| Amounts payable within one year | 42/48 | €815,705 | €886,511 | +€70,806 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €60,831 | €80,236 | +€19,405 | +31.9% |
| Financial debts | 43 | €6,350 | €3,569 | -€2,781 | -43.8% |
| Other loans | 439 | €6,350 | €3,569 | -€2,781 | -43.8% |
| Trade debts | 44 | €11,118 | €64,963 | +€53,845 | +484.3% |
| Suppliers | 440/4 | €11,118 | €64,963 | +€53,845 | +484.3% |
| Taxes, remuneration and social security | 45 | €26,539 | €16,965 | -€9,575 | -36.1% |
| Taxes | 450/3 | €26,539 | €16,965 | -€9,575 | -36.1% |
| Other amounts payable | 47/48 | €710,867 | €720,778 | +€9,912 | +1.4% |
| Accrued charges and deferred income | 492/3 | €65,936 | €63,530 | -€2,405 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,463 | €48,826 | +€4,363 | +9.8% |
| Other operating charges | 640/8 | €5,078 | €3,331 | -€1,747 | -34.4% |
| Gross operating margin | 9900 | €123,801 | €145,416 | +€21,615 | +17.5% |
| Operating profit (loss) | 9901 | €74,259 | €93,259 | +€19,000 | +25.6% |
| Financial income | 75/76B | €215,576 | €11,759 | -€203,817 | -94.5% |
| Recurring financial income | 75 | €215,576 | €11,759 | -€203,817 | -94.5% |
| Financial charges | 65/66B | €73,159 | €66,940 | -€6,219 | -8.5% |
| Recurring financial charges | 65 | €73,159 | €66,940 | -€6,219 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €216,676 | €38,078 | -€178,598 | -82.4% |
| Income taxes | 67/77 | €23,259 | €12,516 | -€10,743 | -46.2% |
| Profit (loss) for the period | 9904 | €193,417 | €25,562 | -€167,855 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €193,417 | €25,562 | -€167,855 | -86.8% |
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 4 October 2026 via checked.be.