J&P: 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&P
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€255
2024 · -€27,813+€28,067
Equity
€334,889
2024 · €334,635+€255
Cash
€10,581
2024 · €11,713-€1,132
Balance sheet total
€1.6m
2024 · €1.6m-€59,099
Largest movements
Assets
- Tangible fixed assets -€35,223
down €35,223 (-2.4%), from €1.5m to €1.4m
of which Land and buildings: -€35,083
- Current investments -€20,355
down €20,355 (-15.9%), from €127,876 to €107,522
Equity and liabilities
- Debts after one year -€58,029
down €58,029 (-5.5%), from €1.1m to €1.0m
Income statement
- Gross operating margin +€18,542
up €18,542 (+45.8%), from €40,518 to €59,060
- Depreciation -€10,168
down €10,168 (-21.2%), from €47,920 to €37,752
- Financial income -€1,226
down €1,226 (-12.3%), from €9,971 to €8,745
- Financial charges -€1,141
down €1,141 (-4.1%), from €27,977 to €26,835
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
-€27,813
Gross operating margin
+€18,542
Depreciation
+€10,168
Other operating charges
-€553
Financial income
-€1,226
Financial charges
+€1,141
Taxes
-€5
Result 2025
€255
raises the resultlowers the result
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
+€37,835
Investment
+€17,825
Financing
-€56,792
Cash 2024
€11,713
From operations (derived)
+€37,835
Net result for the year
+€255
Depreciation
+€37,752
Receivables within one year
+€2,416
Deferred charges and accrued income
-€26
Provisions
-€3,886
Trade debts
-€7,521
Tax, wage and social debts
-€275
Other debts
+€10,174
Accrued charges and deferred income
-€1,052
Investment (derived)
+€17,825
Investment in fixed assets (net)
-€2,530
Current investments
+€20,355
Financing
-€56,792
Debts after one year
-€58,029
Current portion of long-term debt
+€1,237
Cash 2025
€10,581
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,624,407 | €1,565,309 | -€59,099 | -3.6% |
| Fixed assets | 21/28 | €1,479,708 | €1,444,486 | -€35,223 | -2.4% |
| Tangible fixed assets | 22/27 | €1,479,708 | €1,444,486 | -€35,223 | -2.4% |
| Land and buildings | 22 | €1,479,569 | €1,444,486 | -€35,083 | -2.4% |
| Plant, machinery and equipment | 23 | €139 | €0 | -€139 | -100% |
| Current assets | 29/58 | €144,699 | €120,823 | -€23,876 | -16.5% |
| Amounts receivable within one year | 40/41 | €4,910 | €2,494 | -€2,416 | -49.2% |
| Other amounts receivable | 41 | €4,910 | €2,494 | -€2,416 | -49.2% |
| Current investments | 50/53 | €127,876 | €107,522 | -€20,355 | -15.9% |
| Cash at bank and in hand | 54/58 | €11,713 | €10,581 | -€1,132 | -9.7% |
| Deferred charges and accrued income | 490/1 | €200 | €226 | +€26 | +13.1% |
| Total equity and liabilities | 10/49 | €1,624,407 | €1,565,309 | -€59,099 | -3.6% |
| Equity | 10/15 | €334,635 | €334,889 | +€255 | +0.1% |
| Contributions | 10/11 | €32,402 | €32,402 | = | 0.0% |
| Reserves | 13 | €362,619 | €350,961 | -€11,658 | -3.2% |
| Tax-exempt reserves | 132 | €328,879 | €317,220 | -€11,658 | -3.5% |
| Distributable reserves | 133 | €33,740 | €33,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,387 | -€48,474 | +€11,913 | +19.7% |
| Provisions and deferred taxes | 16 | €109,626 | €105,740 | -€3,886 | -3.5% |
| Deferred taxes | 168 | €109,626 | €105,740 | -€3,886 | -3.5% |
| Amounts payable | 17/49 | €1,180,146 | €1,124,679 | -€55,467 | -4.7% |
| Amounts payable after more than one year | 17 | €1,058,717 | €1,000,689 | -€58,029 | -5.5% |
| Financial debts | 170/4 | €1,058,717 | €1,000,689 | -€58,029 | -5.5% |
| Amounts payable within one year | 42/48 | €117,728 | €121,342 | +€3,614 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €57,503 | €58,739 | +€1,237 | +2.2% |
| Trade debts | 44 | €9,348 | €1,827 | -€7,521 | -80.5% |
| Suppliers | 440/4 | €9,348 | €1,827 | -€7,521 | -80.5% |
| Taxes, remuneration and social security | 45 | €869 | €594 | -€275 | -31.7% |
| Taxes | 450/3 | €869 | €594 | -€275 | -31.7% |
| Other amounts payable | 47/48 | €50,008 | €60,182 | +€10,174 | +20.3% |
| Accrued charges and deferred income | 492/3 | €3,701 | €2,648 | -€1,052 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,920 | €37,752 | -€10,168 | -21.2% |
| Other operating charges | 640/8 | €6,131 | €6,684 | +€553 | +9.0% |
| Gross operating margin | 9900 | €40,518 | €59,060 | +€18,542 | +45.8% |
| Operating profit (loss) | 9901 | -€13,533 | €14,624 | +€28,156 | |
| Financial income | 75/76B | €9,971 | €8,745 | -€1,226 | -12.3% |
| Recurring financial income | 75 | €9,971 | €8,745 | -€1,226 | -12.3% |
| Financial charges | 65/66B | €27,977 | €26,835 | -€1,141 | -4.1% |
| Recurring financial charges | 65 | €27,977 | €26,835 | -€1,141 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | -€31,539 | -€3,466 | +€28,072 | +89.0% |
| Transfer from deferred taxes | 780 | €3,886 | €3,886 | = | 0.0% |
| Income taxes | 67/77 | €160 | €165 | +€5 | +3.1% |
| Profit (loss) for the period | 9904 | -€27,813 | €255 | +€28,067 | |
| Transfer from tax-exempt reserves | 789 | €11,658 | €11,658 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,154 | €11,913 | +€28,067 |
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 19 October 2026 via checked.be.