J&L: 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&L
Largest movements
- Cash -€189,384
down €189,384 (-48.5%), from €390,641 to €201,257
mainly Current investments (-€180,000) and Contributions, distributions and other (-€120,000)
- Current investments +€180,000
new in 2025: €180,000
- Receivables within one year +€58,118
up €58,118 (+373.8%), from €15,547 to €73,665
of which Trade receivables: +€50,997
- Tangible fixed assets -€10,811
down €10,811 (-23.7%), from €45,591 to €34,780
of which Furniture and vehicles: -€9,918
- Tax, wage and social debts +€23,243
up €23,243 (+77.5%), from €29,981 to €53,224
of which Taxes: +€27,383
- Trade debts -€22,330
down €22,330 (-99.8%), from €22,374 to €44
- Profit (loss) carried forward +€20,058
up €20,058 (+8.9%), from €225,700 to €245,758
- Other debts +€17,101
up €17,101 (+19.9%), from €85,841 to €102,942
- Financial charges +€48,436
up €48,436 (+52.3%), from €92,617 to €141,052
- Gross operating margin +€37,416
up €37,416 (+11.3%), from €330,233 to €367,649
- Depreciation +€8,410
up €8,410 (+185.1%), from €4,544 to €12,954
- Staff costs -€5,174
down €5,174 (-14.7%), from €35,120 to €29,946
- Taxes -€3,924
down €3,924 (-8.4%), from €46,803 to €42,879
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 | €451,957 | €490,029 | +€38,072 | +8.4% |
| Fixed assets | 21/28 | €45,769 | €34,958 | -€10,811 | -23.6% |
| Tangible fixed assets | 22/27 | €45,591 | €34,780 | -€10,811 | -23.7% |
| Plant, machinery and equipment | 23 | €8,335 | €7,441 | -€893 | -10.7% |
| Furniture and vehicles | 24 | €37,257 | €27,338 | -€9,918 | -26.6% |
| Financial fixed assets | 28 | €178 | €178 | = | 0.0% |
| Current assets | 29/58 | €406,188 | €455,071 | +€48,883 | +12.0% |
| Amounts receivable within one year | 40/41 | €15,547 | €73,665 | +€58,118 | +373.8% |
| Trade receivables | 40 | €15,547 | €66,544 | +€50,997 | +328.0% |
| Other amounts receivable | 41 | €0 | €7,121 | +€7,121 | |
| Current investments | 50/53 | - | €180,000 | +€180,000 | |
| Cash at bank and in hand | 54/58 | €390,641 | €201,257 | -€189,384 | -48.5% |
| Deferred charges and accrued income | 490/1 | - | €149 | +€149 | |
| Total equity and liabilities | 10/49 | €451,957 | €490,029 | +€38,072 | +8.4% |
| Equity | 10/15 | €313,760 | €333,818 | +€20,058 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,860 | €81,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,700 | €245,758 | +€20,058 | +8.9% |
| Amounts payable | 17/49 | €138,197 | €156,211 | +€18,014 | +13.0% |
| Amounts payable within one year | 42/48 | €138,197 | €156,211 | +€18,014 | +13.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €22,374 | €44 | -€22,330 | -99.8% |
| Suppliers | 440/4 | €22,374 | €44 | -€22,330 | -99.8% |
| Taxes, remuneration and social security | 45 | €29,981 | €53,224 | +€23,243 | +77.5% |
| Taxes | 450/3 | €25,841 | €53,224 | +€27,383 | +106.0% |
| Remuneration and social security | 454/9 | €4,140 | €0 | -€4,140 | -100.0% |
| Other amounts payable | 47/48 | €85,841 | €102,942 | +€17,101 | +19.9% |
| Remuneration, social security and pensions | 62 | €35,120 | €29,946 | -€5,174 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,544 | €12,954 | +€8,410 | +185.1% |
| Other operating charges | 640/8 | €847 | €764 | -€84 | -9.9% |
| Gross operating margin | 9900 | €330,233 | €367,649 | +€37,416 | +11.3% |
| Operating profit (loss) | 9901 | €289,721 | €323,986 | +€34,265 | +11.8% |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €92,617 | €141,052 | +€48,436 | +52.3% |
| Recurring financial charges | 65 | €92,617 | €141,052 | +€48,436 | +52.3% |
| Profit (loss) for the period before taxes | 9903 | €197,105 | €182,937 | -€14,168 | -7.2% |
| Income taxes | 67/77 | €46,803 | €42,879 | -€3,924 | -8.4% |
| Profit (loss) for the period | 9904 | €150,302 | €140,058 | -€10,244 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €150,302 | €140,058 | -€10,244 | -6.8% |
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 9 October 2026 via checked.be.