J.A & F: 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.
J.A & F
Largest movements
- Receivables within one year +€7,592
up €7,592 (+52.0%), from €14,604 to €22,196
of which Trade receivables: +€7,619
- Cash -€2,254
down €2,254 (-3.1%), from €72,938 to €70,685
mainly Contributions, distributions and other (-€33,906) and Receivables within one year (-€7,592)
- Deferred charges and accrued income -€1,502
no longer reported in 2025 (was €1,502)
- Stocks and contracts -€1,463
no longer reported in 2025 (was €1,463)
- Reserves +€4,263
up €4,263 (+5.2%), from €82,733 to €86,996
- Tax, wage and social debts +€3,481
up €3,481 (+45.6%), from €7,628 to €11,109
- Debts after one year -€1,375
down €1,375 (-56.3%), from €2,443 to €1,068
- Other debts -€1,335
down €1,335 (-85.3%), from €1,566 to €230
- Trade debts -€1,281
down €1,281 (-64.8%), from €1,976 to €695
- Gross operating margin +€19,481
up €19,481 (+42.8%), from €45,529 to €65,010
- Taxes +€4,572
up €4,572 (+33.2%), from €13,757 to €18,329
- Depreciation +€3,240
up €3,240 (+146%), from €2,218 to €5,458
- Other operating charges -€1,133
down €1,133 (-85.9%), from €1,319 to €186
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 | €106,018 | €109,074 | +€3,055 | +2.9% |
| Fixed assets | 21/28 | €15,511 | €16,193 | +€682 | +4.4% |
| Tangible fixed assets | 22/27 | €15,511 | €16,193 | +€682 | +4.4% |
| Furniture and vehicles | 24 | €15,511 | €14,586 | -€925 | -6.0% |
| Other tangible fixed assets | 26 | - | €1,607 | +€1,607 | |
| Current assets | 29/58 | €90,507 | €92,881 | +€2,373 | +2.6% |
| Stocks and contracts in progress | 3 | €1,463 | - | -€1,463 | |
| Stocks | 30/36 | €1,463 | - | -€1,463 | |
| Amounts receivable within one year | 40/41 | €14,604 | €22,196 | +€7,592 | +52.0% |
| Trade receivables | 40 | €14,577 | €22,196 | +€7,619 | +52.3% |
| Other amounts receivable | 41 | €27 | - | -€27 | |
| Cash at bank and in hand | 54/58 | €72,938 | €70,685 | -€2,254 | -3.1% |
| Deferred charges and accrued income | 490/1 | €1,502 | - | -€1,502 | |
| Total equity and liabilities | 10/49 | €106,018 | €109,074 | +€3,055 | +2.9% |
| Equity | 10/15 | €88,933 | €93,196 | +€4,263 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,733 | €86,996 | +€4,263 | +5.2% |
| Distributable reserves | 133 | €82,733 | €86,996 | +€4,263 | +5.2% |
| Amounts payable | 17/49 | €17,085 | €15,878 | -€1,207 | -7.1% |
| Amounts payable after more than one year | 17 | €2,443 | €1,068 | -€1,375 | -56.3% |
| Financial debts | 170/4 | €2,443 | €1,068 | -€1,375 | -56.3% |
| Amounts payable within one year | 42/48 | €14,589 | €14,809 | +€221 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €1,320 | €1,375 | +€55 | +4.1% |
| Financial debts | 43 | €2,099 | €1,400 | -€699 | -33.3% |
| Credit institutions | 430/8 | €2,099 | €1,400 | -€699 | -33.3% |
| Trade debts | 44 | €1,976 | €695 | -€1,281 | -64.8% |
| Suppliers | 440/4 | €1,976 | €695 | -€1,281 | -64.8% |
| Taxes, remuneration and social security | 45 | €7,628 | €11,109 | +€3,481 | +45.6% |
| Taxes | 450/3 | €7,628 | €11,109 | +€3,481 | +45.6% |
| Other amounts payable | 47/48 | €1,566 | €230 | -€1,335 | -85.3% |
| Accrued charges and deferred income | 492/3 | €53 | - | -€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,218 | €5,458 | +€3,240 | +146% |
| Other operating charges | 640/8 | €1,319 | €186 | -€1,133 | -85.9% |
| Gross operating margin | 9900 | €45,529 | €65,010 | +€19,481 | +42.8% |
| Operating profit (loss) | 9901 | €41,991 | €59,366 | +€17,374 | +41.4% |
| Financial income | 75/76B | €0 | €82 | +€82 | +821,600% |
| Recurring financial income | 75 | €0 | €82 | +€82 | +821,600% |
| Financial charges | 65/66B | €2,518 | €2,950 | +€432 | +17.2% |
| Recurring financial charges | 65 | €2,518 | €2,950 | +€432 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €39,473 | €56,498 | +€17,024 | +43.1% |
| Income taxes | 67/77 | €13,757 | €18,329 | +€4,572 | +33.2% |
| Profit (loss) for the period | 9904 | €25,716 | €38,168 | +€12,452 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,716 | €38,168 | +€12,452 | +48.4% |
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 1 November 2026 via checked.be.