J.A.D.: 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.D.
Largest movements
- Cash +€39,417
up €39,417 (+71.7%), from €54,978 to €94,395
mainly Current investments (+€30,000) and Depreciation (+€28,067)
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
- Tangible fixed assets -€28,067
down €28,067 (-6.3%), from €448,556 to €420,489
- Profit (loss) carried forward -€11,306
down €11,306 (-2.6%), from €430,730 to €419,423
- Other debts -€6,352
down €6,352 (-10.6%), from €59,668 to €53,316
- Gross operating margin +€1,422
up €1,422 (+6.3%), from €22,431 to €23,853
- Financial income +€1,047
up €1,047 (+25339.5%), from €4 to €1,051
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 | €576,126 | €558,881 | -€17,245 | -3.0% |
| Fixed assets | 21/28 | €488,556 | €460,489 | -€28,067 | -5.7% |
| Tangible fixed assets | 22/27 | €448,556 | €420,489 | -€28,067 | -6.3% |
| Land and buildings | 22 | €448,556 | €420,489 | -€28,067 | -6.3% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €87,570 | €98,392 | +€10,822 | +12.4% |
| Amounts receivable within one year | 40/41 | - | €315 | +€315 | |
| Other amounts receivable | 41 | - | €315 | +€315 | |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €54,978 | €94,395 | +€39,417 | +71.7% |
| Deferred charges and accrued income | 490/1 | €2,592 | €3,681 | +€1,089 | +42.0% |
| Total equity and liabilities | 10/49 | €576,126 | €558,881 | -€17,245 | -3.0% |
| Equity | 10/15 | €515,699 | €504,392 | -€11,306 | -2.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €66,377 | €66,377 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,405 | €50,405 | = | 0.0% |
| Distributable reserves | 133 | €15,972 | €15,972 | = | 0.0% |
| Profit (loss) carried forward | 14 | €430,730 | €419,423 | -€11,306 | -2.6% |
| Amounts payable | 17/49 | €60,428 | €54,488 | -€5,939 | -9.8% |
| Amounts payable within one year | 42/48 | €60,194 | €54,196 | -€5,998 | -10.0% |
| Trade debts | 44 | - | €411 | +€411 | |
| Suppliers | 440/4 | - | €411 | +€411 | |
| Taxes, remuneration and social security | 45 | €526 | €470 | -€56 | -10.6% |
| Taxes | 450/3 | €526 | €470 | -€56 | -10.6% |
| Other amounts payable | 47/48 | €59,668 | €53,316 | -€6,352 | -10.6% |
| Accrued charges and deferred income | 492/3 | €233 | €292 | +€59 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,067 | €28,067 | -€0 | 0.0% |
| Other operating charges | 640/8 | €6,339 | €6,538 | +€199 | +3.1% |
| Gross operating margin | 9900 | €22,431 | €23,853 | +€1,422 | +6.3% |
| Operating profit (loss) | 9901 | -€11,974 | -€10,752 | +€1,223 | +10.2% |
| Financial income | 75/76B | €4 | €1,051 | +€1,047 | +25339.5% |
| Recurring financial income | 75 | €4 | €1,051 | +€1,047 | +25339.5% |
| Financial charges | 65/66B | €1,812 | €1,605 | -€206 | -11.4% |
| Recurring financial charges | 65 | €1,812 | €1,605 | -€206 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,782 | -€11,306 | +€2,475 | +18.0% |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€13,782 | -€11,306 | +€2,475 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,782 | -€11,306 | +€2,475 | +18.0% |
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 3 October 2026 via checked.be.