J.L.T. 92: 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.
What changed
J.L.T. 92
NACE 01.450, Raising of sheep and goats
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€117,591
2024 · €188,187-€305,778
Equity
€864,973
2024 · €982,564-€117,591
Cash
€155,825
2024 · €212,322-€56,496
Balance sheet total
€1.9m
2024 · €2.1m-€169,242
Largest movements
Assets
- Tangible fixed assets -€82,522
down €82,522 (-4.7%), from €1.8m to €1.7m
of which Land and buildings: -€76,980
- Cash -€56,496
down €56,496 (-26.6%), from €212,322 to €155,825
mainly Net result for the year (-€117,591) and Accrued charges and deferred income (-€38,259)
- Receivables within one year -€25,268
down €25,268 (-98.0%), from €25,794 to €525
of which Other amounts receivable: -€25,640
Equity and liabilities
- Profit (loss) carried forward -€100,783
down €100,783 (-190%), from -€53,115 to -€153,898
- Accrued charges and deferred income -€38,259
down €38,259 (-85.1%), from €44,935 to €6,675
Income statement
- Gross operating margin -€300,284
down €300,284 (-90.1%), from €333,389 to €33,105
- Depreciation +€4,158
up €4,158 (+4.0%), from €105,124 to €109,282
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.
Result 2024
€188,187
Gross operating margin
-€300,284
Staff costs
-€933
Depreciation
-€4,158
Other operating charges
-€472
Financial income
+€0
Financial charges
+€172
Taxes
-€19
Deferred taxes and other
-€85
Result 2025
-€117,591
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€19,736
Investment
-€26,761
Financing
-€10,000
Cash 2024
€212,322
From operations (derived)
-€19,736
Net result for the year
-€117,591
Depreciation
+€109,282
Stocks and contracts
+€4,958
Receivables within one year
+€25,268
Deferred charges and accrued income
-€3
Provisions
-€5,603
Trade debts
-€1,203
Tax, wage and social debts
+€1,436
Other debts
+€1,977
Accrued charges and deferred income
-€38,259
Investment (derived)
-€26,761
Investment in fixed assets (net)
-€26,761
Financing
-€10,000
Debts after one year
-€10,000
Cash 2025
€155,825
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,103,960 | €1,934,718 | -€169,242 | -8.0% |
| Fixed assets | 21/28 | €1,758,265 | €1,675,743 | -€82,522 | -4.7% |
| Tangible fixed assets | 22/27 | €1,758,265 | €1,675,743 | -€82,522 | -4.7% |
| Land and buildings | 22 | €1,672,335 | €1,595,355 | -€76,980 | -4.6% |
| Plant, machinery and equipment | 23 | €78,661 | €69,684 | -€8,977 | -11.4% |
| Furniture and vehicles | 24 | €7,269 | €10,704 | +€3,435 | +47.3% |
| Current assets | 29/58 | €345,695 | €258,975 | -€86,720 | -25.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,958 | €0 | -€4,958 | -100% |
| Stocks | 30/36 | €4,958 | €0 | -€4,958 | -100% |
| Amounts receivable within one year | 40/41 | €25,794 | €525 | -€25,268 | -98.0% |
| Trade receivables | 40 | €153 | €525 | +€372 | +243% |
| Other amounts receivable | 41 | €25,640 | €0 | -€25,640 | -100% |
| Cash at bank and in hand | 54/58 | €212,322 | €155,825 | -€56,496 | -26.6% |
| Deferred charges and accrued income | 490/1 | €2,622 | €2,624 | +€3 | +0.1% |
| Total equity and liabilities | 10/49 | €2,103,960 | €1,934,718 | -€169,242 | -8.0% |
| Equity | 10/15 | €982,564 | €864,973 | -€117,591 | -12.0% |
| Contributions | 10/11 | €775,000 | €775,000 | = | 0.0% |
| Capital | 10 | €775,000 | €775,000 | = | 0.0% |
| Issued capital | 100 | €775,000 | €775,000 | = | 0.0% |
| Reserves | 13 | €260,679 | €243,872 | -€16,807 | -6.4% |
| Non-distributable reserves | 130/1 | €60,287 | €60,287 | = | 0.0% |
| Legal reserve | 130 | €60,287 | €60,287 | = | 0.0% |
| Tax-exempt reserves | 132 | €167,360 | €150,553 | -€16,807 | -10.0% |
| Distributable reserves | 133 | €33,032 | €33,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,115 | -€153,898 | -€100,783 | -190% |
| Provisions and deferred taxes | 16 | €55,787 | €50,184 | -€5,603 | -10.0% |
| Deferred taxes | 168 | €55,787 | €50,184 | -€5,603 | -10.0% |
| Amounts payable | 17/49 | €1,065,609 | €1,019,560 | -€46,048 | -4.3% |
| Amounts payable after more than one year | 17 | €865,000 | €855,000 | -€10,000 | -1.2% |
| Financial debts | 170/4 | €865,000 | €855,000 | -€10,000 | -1.2% |
| Amounts payable within one year | 42/48 | €155,674 | €157,885 | +€2,211 | +1.4% |
| Trade debts | 44 | €11,366 | €10,164 | -€1,203 | -10.6% |
| Suppliers | 440/4 | €11,366 | €10,164 | -€1,203 | -10.6% |
| Taxes, remuneration and social security | 45 | €3,281 | €4,717 | +€1,436 | +43.8% |
| Taxes | 450/3 | €1,064 | €2,427 | +€1,364 | +128% |
| Remuneration and social security | 454/9 | €2,217 | €2,290 | +€73 | +3.3% |
| Other amounts payable | 47/48 | €141,027 | €143,004 | +€1,977 | +1.4% |
| Accrued charges and deferred income | 492/3 | €44,935 | €6,675 | -€38,259 | -85.1% |
| Non-recurring operating income | 76A | €1,900 | €9,237 | +€7,337 | +386% |
| Remuneration, social security and pensions | 62 | €28,285 | €29,218 | +€933 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,124 | €109,282 | +€4,158 | +4.0% |
| Other operating charges | 640/8 | €17,858 | €18,329 | +€472 | +2.6% |
| Gross operating margin | 9900 | €333,389 | €33,105 | -€300,284 | -90.1% |
| Operating profit (loss) | 9901 | €182,122 | -€123,724 | -€305,846 | |
| Financial income | 75/76B | €1,500 | €1,500 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,500 | €1,500 | +€0 | 0.0% |
| Financial charges | 65/66B | €277 | €105 | -€172 | -62.2% |
| Recurring financial charges | 65 | €277 | €105 | -€172 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €183,345 | -€122,329 | -€305,674 | |
| Transfer from deferred taxes | 780 | €5,687 | €5,603 | -€85 | -1.5% |
| Income taxes | 67/77 | €846 | €864 | +€19 | +2.2% |
| Profit (loss) for the period | 9904 | €188,187 | -€117,591 | -€305,778 | |
| Transfer from tax-exempt reserves | 789 | €17,062 | €16,807 | -€255 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €205,249 | -€100,783 | -€306,033 |
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 22 October 2026 via checked.be.