J.E.P.: 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.E.P.
Largest movements
- Tangible fixed assets +€19,752
up €19,752 (+8.8%), from €223,663 to €243,414
of which Furniture and vehicles: +€25,162
- Cash -€7,678
down €7,678 (-7.5%), from €102,545 to €94,867
mainly Investment in fixed assets (net) (-€66,803) and Tax, wage and social debts (-€19,354)
- Receivables within one year +€4,240
up €4,240 (+16.8%), from €25,251 to €29,491
of which Trade receivables: +€2,231
- Reserves +€24,464
up €24,464 (+9.4%), from €260,676 to €285,140
- Tax, wage and social debts -€19,354
down €19,354 (-67.0%), from €28,874 to €9,520
of which Taxes: -€20,383
- Current portion of long-term debt -€18,395
down €18,395 (-54.8%), from €33,556 to €15,161
- Debts after one year +€17,541
up €17,541 (+189.4%), from €9,260 to €26,801
- Trade debts +€11,865
up €11,865 (+74.2%), from €15,993 to €27,858
- Gross operating margin -€24,004
down €24,004 (-14.8%), from €162,187 to €138,183
- Taxes -€9,773
down €9,773 (-44.6%), from €21,930 to €12,157
- Staff costs +€8,471
up €8,471 (+29.0%), from €29,195 to €37,666
- Depreciation +€4,807
up €4,807 (+11.4%), from €42,244 to €47,051
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 | €354,559 | €370,680 | +€16,121 | +4.5% |
| Fixed assets | 21/28 | €223,663 | €243,414 | +€19,752 | +8.8% |
| Tangible fixed assets | 22/27 | €223,663 | €243,414 | +€19,752 | +8.8% |
| Land and buildings | 22 | €141,707 | €137,088 | -€4,619 | -3.3% |
| Plant, machinery and equipment | 23 | €12,140 | €11,348 | -€792 | -6.5% |
| Furniture and vehicles | 24 | €69,815 | €94,978 | +€25,162 | +36.0% |
| Current assets | 29/58 | €130,897 | €127,266 | -€3,630 | -2.8% |
| Amounts receivable within one year | 40/41 | €25,251 | €29,491 | +€4,240 | +16.8% |
| Trade receivables | 40 | - | €2,231 | +€2,231 | |
| Other amounts receivable | 41 | €25,251 | €27,260 | +€2,008 | +8.0% |
| Cash at bank and in hand | 54/58 | €102,545 | €94,867 | -€7,678 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,100 | €2,908 | -€192 | -6.2% |
| Total equity and liabilities | 10/49 | €354,559 | €370,680 | +€16,121 | +4.5% |
| Equity | 10/15 | €266,876 | €291,340 | +€24,464 | +9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €260,676 | €285,140 | +€24,464 | +9.4% |
| Distributable reserves | 133 | €260,676 | €285,140 | +€24,464 | +9.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €87,683 | €79,341 | -€8,342 | -9.5% |
| Amounts payable after more than one year | 17 | €9,260 | €26,801 | +€17,541 | +189.4% |
| Financial debts | 170/4 | €9,260 | €26,801 | +€17,541 | +189.4% |
| Amounts payable within one year | 42/48 | €78,423 | €52,539 | -€25,883 | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €33,556 | €15,161 | -€18,395 | -54.8% |
| Trade debts | 44 | €15,993 | €27,858 | +€11,865 | +74.2% |
| Suppliers | 440/4 | €15,993 | €27,858 | +€11,865 | +74.2% |
| Taxes, remuneration and social security | 45 | €28,874 | €9,520 | -€19,354 | -67.0% |
| Taxes | 450/3 | €22,979 | €2,596 | -€20,383 | -88.7% |
| Remuneration and social security | 454/9 | €5,895 | €6,924 | +€1,028 | +17.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,195 | €37,666 | +€8,471 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,244 | €47,051 | +€4,807 | +11.4% |
| Other operating charges | 640/8 | €4,377 | €5,299 | +€922 | +21.1% |
| Gross operating margin | 9900 | €162,187 | €138,183 | -€24,004 | -14.8% |
| Operating profit (loss) | 9901 | €86,371 | €48,167 | -€38,205 | -44.2% |
| Financial income | 75/76B | €667 | €1,270 | +€602 | +90.3% |
| Recurring financial income | 75 | €667 | €1,270 | +€602 | +90.3% |
| Financial charges | 65/66B | €6,362 | €5,332 | -€1,030 | -16.2% |
| Recurring financial charges | 65 | €6,362 | €5,332 | -€1,030 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €80,677 | €44,104 | -€36,572 | -45.3% |
| Income taxes | 67/77 | €21,930 | €12,157 | -€9,773 | -44.6% |
| Profit (loss) for the period | 9904 | €58,747 | €31,947 | -€26,800 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,747 | €31,947 | -€26,800 | -45.6% |
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 5 October 2026 via checked.be.