J&P: 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&P
Largest movements
- Current investments -€8,948
down €8,948 (-3.6%), from €248,449 to €239,501
- Cash -€5,211
down €5,211 (-14.7%), from €35,411 to €30,200
mainly Net result for the year (-€13,061) and Other debts (-€2,728)
- Reserves -€13,061
down €13,061 (-4.6%), from €282,819 to €269,757
- Financial charges +€28,190
up €28,190, from -€19,961 to €8,228
- Gross operating margin +€2,796
up €2,796 (+31.0%), from -€9,031 to -€6,236
- Financial income -€1,300
down €1,300 (-20.9%), from €6,208 to €4,908
- Other operating charges +€169
up €169 (+8.5%), from €1,999 to €2,168
- Depreciation +€139
up €139 (+11.6%), from €1,198 to €1,337
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 | €288,047 | €272,059 | -€15,988 | -5.6% |
| Fixed assets | 21/28 | €1,849 | €512 | -€1,337 | -72.3% |
| Tangible fixed assets | 22/27 | €1,846 | €509 | -€1,337 | -72.4% |
| Plant, machinery and equipment | 23 | €888 | €349 | -€538 | -60.6% |
| Furniture and vehicles | 24 | €959 | €160 | -€799 | -83.3% |
| Financial fixed assets | 28 | €3 | €3 | = | 0.0% |
| Current assets | 29/58 | €286,198 | €271,547 | -€14,651 | -5.1% |
| Amounts receivable within one year | 40/41 | €1,862 | €1,472 | -€390 | -20.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,862 | €1,472 | -€390 | -20.9% |
| Current investments | 50/53 | €248,449 | €239,501 | -€8,948 | -3.6% |
| Cash at bank and in hand | 54/58 | €35,411 | €30,200 | -€5,211 | -14.7% |
| Deferred charges and accrued income | 490/1 | €476 | €374 | -€102 | -21.4% |
| Total equity and liabilities | 10/49 | €288,047 | €272,059 | -€15,988 | -5.6% |
| Equity | 10/15 | €268,871 | €255,810 | -€13,061 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €282,819 | €269,757 | -€13,061 | -4.6% |
| Distributable reserves | 133 | €282,819 | €269,757 | -€13,061 | -4.6% |
| Profit (loss) carried forward | 14 | -€32,547 | -€32,547 | = | 0.0% |
| Amounts payable | 17/49 | €19,175 | €16,249 | -€2,927 | -15.3% |
| Amounts payable within one year | 42/48 | €19,175 | €16,249 | -€2,927 | -15.3% |
| Trade debts | 44 | €745 | €562 | -€183 | -24.6% |
| Suppliers | 440/4 | €745 | €562 | -€183 | -24.6% |
| Taxes, remuneration and social security | 45 | €15 | €0 | -€15 | -100.0% |
| Taxes | 450/3 | €15 | €0 | -€15 | -100.0% |
| Other amounts payable | 47/48 | €18,415 | €15,686 | -€2,728 | -14.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,198 | €1,337 | +€139 | +11.6% |
| Other operating charges | 640/8 | €1,999 | €2,168 | +€169 | +8.5% |
| Gross operating margin | 9900 | -€9,031 | -€6,236 | +€2,796 | +31.0% |
| Operating profit (loss) | 9901 | -€12,228 | -€9,741 | +€2,487 | +20.3% |
| Financial income | 75/76B | €6,208 | €4,908 | -€1,300 | -20.9% |
| Recurring financial income | 75 | €6,208 | €4,908 | -€1,300 | -20.9% |
| Financial charges | 65/66B | -€19,961 | €8,228 | +€28,190 | |
| Recurring financial charges | 65 | -€19,961 | €8,228 | +€28,190 | |
| Profit (loss) for the period before taxes | 9903 | €13,941 | -€13,061 | -€27,002 | |
| Profit (loss) for the period | 9904 | €13,941 | -€13,061 | -€27,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,941 | -€13,061 | -€27,002 |
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 7 October 2026 via checked.be.