J K MANAGEMENT: 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 K MANAGEMENT
Largest movements
- Financial fixed assets +€216,745
up €216,745 (+20.4%), from €1.1m to €1.3m
- Current investments -€110,122
down €110,122 (-14.3%), from €767,907 to €657,785
- Cash +€72,198
up €72,198 (+1035.1%), from €6,975 to €79,173
mainly Short-term financial debts (+€250,000) and Current investments (+€110,122)
- Receivables after one year +€27,000
new in 2025: €27,000
- Short-term financial debts +€250,000
new in 2025: €250,000
- Reserves -€66,099
down €66,099 (-3.1%), from €2.2m to €2.1m
- Financial income -€54,998
down €54,998 (-40.7%), from €135,225 to €80,227
- Gross operating margin -€41,376
down €41,376 (-367.8%), from -€11,250 to -€52,626
- Financial charges +€17,501
up €17,501 (+252.3%), from €6,937 to €24,438
- Other operating charges -€1,848
down €1,848 (-23.0%), from €8,023 to €6,175
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 | €2,175,859 | €2,369,168 | +€193,309 | +8.9% |
| Fixed assets | 21/28 | €1,268,435 | €1,470,649 | +€202,214 | +15.9% |
| Tangible fixed assets | 22/27 | €207,548 | €193,016 | -€14,531 | -7.0% |
| Land and buildings | 22 | €202,857 | €186,830 | -€16,027 | -7.9% |
| Plant, machinery and equipment | 23 | €2,633 | €5,313 | +€2,680 | +101.8% |
| Furniture and vehicles | 24 | €2,057 | €873 | -€1,184 | -57.6% |
| Financial fixed assets | 28 | €1,060,887 | €1,277,633 | +€216,745 | +20.4% |
| Current assets | 29/58 | €907,424 | €898,519 | -€8,905 | -1.0% |
| Amounts receivable after more than one year | 29 | - | €27,000 | +€27,000 | |
| Other amounts receivable | 291 | - | €27,000 | +€27,000 | |
| Amounts receivable within one year | 40/41 | €34,549 | €13,193 | -€21,356 | -61.8% |
| Trade receivables | 40 | €20,315 | - | -€20,315 | |
| Other amounts receivable | 41 | €14,234 | €13,193 | -€1,041 | -7.3% |
| Current investments | 50/53 | €767,907 | €657,785 | -€110,122 | -14.3% |
| Cash at bank and in hand | 54/58 | €6,975 | €79,173 | +€72,198 | +1035.1% |
| Deferred charges and accrued income | 490/1 | €97,993 | €121,369 | +€23,376 | +23.9% |
| Total equity and liabilities | 10/49 | €2,175,859 | €2,369,168 | +€193,309 | +8.9% |
| Equity | 10/15 | €2,165,552 | €2,099,453 | -€66,099 | -3.1% |
| Contributions | 10/11 | €7,809 | €7,809 | = | 0.0% |
| Reserves | 13 | €2,157,743 | €2,091,644 | -€66,099 | -3.1% |
| Distributable reserves | 133 | €2,157,743 | €2,091,644 | -€66,099 | -3.1% |
| Amounts payable | 17/49 | €10,307 | €269,715 | +€259,409 | +2516.9% |
| Amounts payable within one year | 42/48 | €10,307 | €268,139 | +€257,833 | +2501.6% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €2,650 | €15,841 | +€13,191 | +497.7% |
| Suppliers | 440/4 | €2,650 | €15,841 | +€13,191 | +497.7% |
| Taxes, remuneration and social security | 45 | €7,656 | €2,298 | -€5,358 | -70.0% |
| Taxes | 450/3 | €7,656 | €2,298 | -€5,358 | -70.0% |
| Accrued charges and deferred income | 492/3 | - | €1,576 | +€1,576 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,124 | €18,022 | -€102 | -0.6% |
| Other operating charges | 640/8 | €8,023 | €6,175 | -€1,848 | -23.0% |
| Non-recurring operating charges | 66A | €195 | €45,065 | +€44,870 | +23010.4% |
| Gross operating margin | 9900 | -€11,250 | -€52,626 | -€41,376 | -367.8% |
| Operating profit (loss) | 9901 | -€37,592 | -€121,889 | -€84,297 | -224.2% |
| Financial income | 75/76B | €135,225 | €80,227 | -€54,998 | -40.7% |
| Recurring financial income | 75 | €135,225 | €80,227 | -€54,998 | -40.7% |
| Financial charges | 65/66B | €6,937 | €24,438 | +€17,501 | +252.3% |
| Recurring financial charges | 65 | €6,937 | €24,438 | +€17,501 | +252.3% |
| Profit (loss) for the period before taxes | 9903 | €90,697 | -€66,099 | -€156,796 | |
| Profit (loss) for the period | 9904 | €90,697 | -€66,099 | -€156,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €90,697 | -€66,099 | -€156,796 |
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 9 October 2026 via checked.be.