J. INVEST: 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. INVEST
Largest movements
- Cash -€184,090
down €184,090 (-48.8%), from €377,438 to €193,348
mainly Contributions, distributions and other (-€800,000) and Receivables within one year (-€119,731)
- Receivables within one year +€119,731
up €119,731 (+35.6%), from €335,984 to €455,715
- Debts after one year -€95,401
down €95,401 (-23.0%), from €415,613 to €320,213
- Financial income -€37,360
down €37,360 (-4.4%), from €850,784 to €813,423
- Financial charges +€2,777
up €2,777 (+35.3%), from €7,860 to €10,637
of which Non-recurring financial charges: +€2,758
- Gross operating margin +€245
up €245 (+9.7%), from -€2,517 to -€2,272
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 | €2,732,210 | €2,661,796 | -€70,414 | -2.6% |
| Fixed assets | 21/28 | €1,960,314 | €1,954,114 | -€6,200 | -0.3% |
| Financial fixed assets | 28 | €1,960,314 | €1,954,114 | -€6,200 | -0.3% |
| Current assets | 29/58 | €771,896 | €707,682 | -€64,214 | -8.3% |
| Amounts receivable within one year | 40/41 | €335,984 | €455,715 | +€119,731 | +35.6% |
| Other amounts receivable | 41 | €335,984 | €455,715 | +€119,731 | +35.6% |
| Current investments | 50/53 | €58,474 | €58,619 | +€145 | +0.2% |
| Cash at bank and in hand | 54/58 | €377,438 | €193,348 | -€184,090 | -48.8% |
| Total equity and liabilities | 10/49 | €2,732,210 | €2,661,796 | -€70,414 | -2.6% |
| Equity | 10/15 | €1,336,331 | €1,336,845 | +€514 | 0.0% |
| Contributions | 10/11 | €67,033 | €67,033 | = | 0.0% |
| Contributions outside capital | 11 | €67,033 | €67,033 | = | 0.0% |
| Other | 1109/19 | €67,033 | €67,033 | = | 0.0% |
| Reserves | 13 | €6,703 | €6,703 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,703 | €6,703 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,703 | €6,703 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,262,594 | €1,263,108 | +€514 | 0.0% |
| Amounts payable | 17/49 | €1,395,879 | €1,324,951 | -€70,928 | -5.1% |
| Amounts payable after more than one year | 17 | €415,613 | €320,213 | -€95,401 | -23.0% |
| Financial debts | 170/4 | €415,613 | €320,213 | -€95,401 | -23.0% |
| Amounts payable within one year | 42/48 | €979,876 | €1,004,348 | +€24,473 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €179,670 | €204,259 | +€24,589 | +13.7% |
| Trade debts | 44 | €206 | €89 | -€116 | -56.5% |
| Suppliers | 440/4 | €206 | €89 | -€116 | -56.5% |
| Other amounts payable | 47/48 | €800,000 | €800,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €390 | €390 | = | 0.0% |
| Gross operating margin | 9900 | -€2,517 | -€2,272 | +€245 | +9.7% |
| Operating profit (loss) | 9901 | -€2,517 | -€2,272 | +€245 | +9.7% |
| Financial income | 75/76B | €850,784 | €813,423 | -€37,360 | -4.4% |
| Recurring financial income | 75 | €850,784 | €813,423 | -€37,360 | -4.4% |
| Financial charges | 65/66B | €7,860 | €10,637 | +€2,777 | +35.3% |
| Recurring financial charges | 65 | €7,860 | €7,880 | +€19 | +0.2% |
| Non-recurring financial charges | 66B | - | €2,758 | +€2,758 | |
| Profit (loss) for the period before taxes | 9903 | €840,407 | €800,514 | -€39,893 | -4.7% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €840,407 | €800,514 | -€39,893 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €840,407 | €800,514 | -€39,893 | -4.7% |
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 30 October 2026 via checked.be.