J & P ASSOCIATES: what changed
You see two financial years side by side: 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 ASSOCIATES
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10,898
2024 · €54,684-€43,786
Equity
€259,471
2024 · €248,574+€10,898
Cash
€86,891
2024 · €165,829-€78,938
Balance sheet total
€1.7m
2024 · €1.9m-€146,328
Largest movements
Assets
- Tangible fixed assets -€84,296
down €84,296 (-4.9%), from €1.7m to €1.6m
of which Land and buildings: -€83,507
- Cash -€78,938
down €78,938 (-47.6%), from €165,829 to €86,891
mainly Debts after one year (-€138,743) and Receivables within one year (-€13,578)
Equity and liabilities
- Debts after one year -€138,743
down €138,743 (-11.9%), from €1.2m to €1.0m
of which Financial debts: -€137,572
Income statement
- Gross operating margin -€54,421
down €54,421 (-26.5%), from €205,544 to €151,124
- Taxes -€8,037
down €8,037 (-42.4%), from €18,969 to €10,932
- Financial charges -€3,452
down €3,452 (-13.4%), from €25,766 to €22,313
- Other operating charges +€2,651
up €2,651 (+14.2%), from €18,630 to €21,281
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€54,684
Gross operating margin
-€54,421
Depreciation
+€1,792
Other operating charges
-€2,651
Financial income
+€4
Financial charges
+€3,452
Taxes
+€8,037
Result 2025
€10,898
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€80,043
Investment
-€10,199
Financing
-€148,782
Cash 2024
€165,829
From operations (derived)
+€80,043
Net result for the year
+€10,898
Depreciation
+€94,495
Receivables within one year
-€13,578
Deferred charges and accrued income
-€3,327
Provisions
-€8,791
Trade debts
+€2,740
Tax, wage and social debts
+€4,462
Other debts
-€3,604
Accrued charges and deferred income
-€3,250
Investment (derived)
-€10,199
Investment in fixed assets (net)
-€10,199
Financing
-€148,782
Debts after one year
-€138,743
Current portion of long-term debt
-€10,039
Cash 2025
€86,891
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,892,893 | €1,746,565 | -€146,328 | -7.7% |
| Fixed assets | 21/28 | €1,718,948 | €1,634,653 | -€84,296 | -4.9% |
| Tangible fixed assets | 22/27 | €1,718,948 | €1,634,653 | -€84,296 | -4.9% |
| Land and buildings | 22 | €1,686,485 | €1,602,978 | -€83,507 | -5.0% |
| Plant, machinery and equipment | 23 | €25,085 | €26,192 | +€1,108 | +4.4% |
| Furniture and vehicles | 24 | €7,379 | €5,482 | -€1,897 | -25.7% |
| Current assets | 29/58 | €173,945 | €111,912 | -€62,033 | -35.7% |
| Amounts receivable within one year | 40/41 | €7,367 | €20,946 | +€13,578 | +184% |
| Trade receivables | 40 | €1,337 | €847 | -€490 | -36.6% |
| Other amounts receivable | 41 | €6,031 | €20,099 | +€14,068 | +233% |
| Cash at bank and in hand | 54/58 | €165,829 | €86,891 | -€78,938 | -47.6% |
| Deferred charges and accrued income | 490/1 | €748 | €4,075 | +€3,327 | +445% |
| Total equity and liabilities | 10/49 | €1,892,893 | €1,746,565 | -€146,328 | -7.7% |
| Equity | 10/15 | €248,574 | €259,471 | +€10,898 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €229,204 | €240,102 | +€10,898 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €227,344 | €210,270 | -€17,074 | -7.5% |
| Distributable reserves | 133 | €0 | €29,831 | +€29,831 | |
| Profit (loss) carried forward | 14 | €770 | €770 | = | 0.0% |
| Provisions and deferred taxes | 16 | €117,065 | €108,273 | -€8,791 | -7.5% |
| Deferred taxes | 168 | €117,065 | €108,273 | -€8,791 | -7.5% |
| Amounts payable | 17/49 | €1,527,255 | €1,378,820 | -€148,435 | -9.7% |
| Amounts payable after more than one year | 17 | €1,162,375 | €1,023,632 | -€138,743 | -11.9% |
| Financial debts | 170/4 | €1,155,495 | €1,017,923 | -€137,572 | -11.9% |
| Other amounts payable | 178/9 | €6,880 | €5,709 | -€1,171 | -17.0% |
| Amounts payable within one year | 42/48 | €361,630 | €355,189 | -€6,441 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €163,918 | €153,879 | -€10,039 | -6.1% |
| Trade debts | 44 | €81 | €2,820 | +€2,740 | +3,403% |
| Suppliers | 440/4 | €81 | €2,820 | +€2,740 | +3,403% |
| Taxes, remuneration and social security | 45 | €0 | €4,462 | +€4,462 | |
| Taxes | 450/3 | €0 | €2,254 | +€2,254 | |
| Remuneration and social security | 454/9 | - | €2,208 | +€2,208 | |
| Other amounts payable | 47/48 | €197,631 | €194,027 | -€3,604 | -1.8% |
| Accrued charges and deferred income | 492/3 | €3,250 | €0 | -€3,250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,287 | €94,495 | -€1,792 | -1.9% |
| Other operating charges | 640/8 | €18,630 | €21,281 | +€2,651 | +14.2% |
| Gross operating margin | 9900 | €205,544 | €151,124 | -€54,421 | -26.5% |
| Operating profit (loss) | 9901 | €90,627 | €35,348 | -€55,280 | -61.0% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €25,766 | €22,313 | -€3,452 | -13.4% |
| Recurring financial charges | 65 | €25,766 | €22,313 | -€3,452 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €64,862 | €13,038 | -€51,823 | -79.9% |
| Transfer from deferred taxes | 780 | €8,791 | €8,791 | = | 0.0% |
| Income taxes | 67/77 | €18,969 | €10,932 | -€8,037 | -42.4% |
| Profit (loss) for the period | 9904 | €54,684 | €10,898 | -€43,786 | -80.1% |
| Transfer from tax-exempt reserves | 789 | €17,074 | €17,074 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,758 | €27,971 | -€43,786 | -61.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.