J.P.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.P.L.
Largest movements
- Stocks and contracts -€663,713
down €663,713 (-100%), from €663,713 to €0
- Tangible fixed assets +€450,943
up €450,943 (+7.2%), from €6.3m to €6.7m
of which Land and buildings: +€480,593
- Cash -€260,385
down €260,385 (-87.4%), from €297,984 to €37,599
mainly Investment in fixed assets (net) (-€881,040) and Provisions (-€206,226)
- Provisions -€206,226
down €206,226 (-10.4%), from €2.0m to €1.8m
- Debts after one year -€185,847
down €185,847 (-8.1%), from €2.3m to €2.1m
of which Financial debts: -€185,847
- Other debts -€94,030
down €94,030 (-21.7%), from €432,738 to €338,708
- Gross operating margin +€143,415
up €143,415 (+26.9%), from €532,608 to €676,023
- Depreciation +€36,746
up €36,746 (+9.3%), from €393,351 to €430,097
- Financial charges +€13,738
up €13,738 (+8.9%), from €153,520 to €167,258
- Financial income -€11,366
down €11,366 (-77.5%), from €14,657 to €3,291
- Other operating charges +€7,879
up €7,879 (+13.3%), from €59,383 to €67,263
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,308,164 | €6,832,941 | -€475,223 | -6.5% |
| Fixed assets | 21/28 | €6,282,545 | €6,733,488 | +€450,943 | +7.2% |
| Tangible fixed assets | 22/27 | €6,282,545 | €6,733,488 | +€450,943 | +7.2% |
| Land and buildings | 22 | €6,163,139 | €6,643,732 | +€480,593 | +7.8% |
| Plant, machinery and equipment | 23 | €34,042 | €26,725 | -€7,317 | -21.5% |
| Furniture and vehicles | 24 | €85,364 | €63,030 | -€22,334 | -26.2% |
| Current assets | 29/58 | €1,025,619 | €99,453 | -€926,166 | -90.3% |
| Stocks and contracts in progress | 3 | €663,713 | €0 | -€663,713 | -100% |
| Stocks | 30/36 | €663,713 | €0 | -€663,713 | -100% |
| Amounts receivable within one year | 40/41 | €37,135 | €53,735 | +€16,600 | +44.7% |
| Trade receivables | 40 | €34,854 | €53,735 | +€18,881 | +54.2% |
| Other amounts receivable | 41 | €2,281 | €0 | -€2,281 | -100% |
| Cash at bank and in hand | 54/58 | €297,984 | €37,599 | -€260,385 | -87.4% |
| Deferred charges and accrued income | 490/1 | €26,787 | €8,119 | -€18,668 | -69.7% |
| Total equity and liabilities | 10/49 | €7,308,164 | €6,832,941 | -€475,223 | -6.5% |
| Equity | 10/15 | €2,221,728 | €2,226,366 | +€4,639 | +0.2% |
| Contributions | 10/11 | €286,129 | €285,100 | -€1,029 | -0.4% |
| Capital | 10 | €286,129 | €285,100 | -€1,029 | -0.4% |
| Issued capital | 100 | €286,129 | €285,100 | -€1,029 | -0.4% |
| Reserves | 13 | €2,015,681 | €2,015,681 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,510 | €28,510 | = | 0.0% |
| Legal reserve | 130 | €28,510 | €28,510 | = | 0.0% |
| Distributable reserves | 133 | €1,987,171 | €1,987,171 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,082 | -€74,415 | +€5,667 | +7.1% |
| Provisions and deferred taxes | 16 | €1,983,900 | €1,777,674 | -€206,226 | -10.4% |
| Provisions for liabilities and charges | 160/5 | €1,983,900 | €1,777,674 | -€206,226 | -10.4% |
| Environmental obligations | 163 | €1,983,900 | €1,777,674 | -€206,226 | -10.4% |
| Amounts payable | 17/49 | €3,102,535 | €2,828,900 | -€273,636 | -8.8% |
| Amounts payable after more than one year | 17 | €2,285,778 | €2,099,931 | -€185,847 | -8.1% |
| Financial debts | 170/4 | €1,735,778 | €1,549,931 | -€185,847 | -10.7% |
| Other amounts payable | 178/9 | €550,000 | €550,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €816,758 | €728,969 | -€87,789 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €179,196 | €185,847 | +€6,651 | +3.7% |
| Trade debts | 44 | €173,665 | €163,219 | -€10,446 | -6.0% |
| Suppliers | 440/4 | €173,665 | €163,219 | -€10,446 | -6.0% |
| Taxes, remuneration and social security | 45 | €31,159 | €41,195 | +€10,036 | +32.2% |
| Taxes | 450/3 | €31,159 | €41,195 | +€10,036 | +32.2% |
| Other amounts payable | 47/48 | €432,738 | €338,708 | -€94,030 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393,351 | €430,097 | +€36,746 | +9.3% |
| Other operating charges | 640/8 | €59,383 | €67,263 | +€7,879 | +13.3% |
| Non-recurring operating charges | 66A | - | €647 | +€647 | |
| Gross operating margin | 9900 | €532,608 | €676,023 | +€143,415 | +26.9% |
| Operating profit (loss) | 9901 | €79,874 | €178,017 | +€98,143 | +123% |
| Financial income | 75/76B | €14,657 | €3,291 | -€11,366 | -77.5% |
| Recurring financial income | 75 | €14,657 | €3,291 | -€11,366 | -77.5% |
| Financial charges | 65/66B | €153,520 | €167,258 | +€13,738 | +8.9% |
| Recurring financial charges | 65 | €153,520 | €167,258 | +€13,738 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | -€58,988 | €14,051 | +€73,039 | |
| Income taxes | 67/77 | €11,735 | €8,383 | -€3,352 | -28.6% |
| Profit (loss) for the period | 9904 | -€70,724 | €5,667 | +€76,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€70,724 | €5,667 | +€76,391 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.