J.P.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.
J.P.P.
Largest movements
- Receivables within one year -€2.2m
down €2.2m (-91.5%), from €2.4m to €202,911
of which Other amounts receivable: -€2.2m
- Tangible fixed assets -€57,710
down €57,710 (-2.5%), from €2.3m to €2.2m
- Other debts -€1.8m
down €1.8m (-82.2%), from €2.2m to €386,870
- Trade debts -€358,703
down €358,703 (-67.6%), from €530,746 to €172,043
- Debts after one year -€149,239
down €149,239 (-9.0%), from €1.7m to €1.5m
of which Financial debts: -€149,239
- Profit (loss) carried forward +€130,489
up €130,489 (+43.7%), from -€298,407 to -€167,918
- Accrued charges and deferred income -€50,219
down €50,219 (-89.3%), from €56,215 to €5,996
- Financial charges -€122,747
down €122,747 (-68.4%), from €179,573 to €56,826
- Gross operating margin +€106,389
up €106,389 (+73.6%), from €144,615 to €251,005
- Other operating charges -€10,770
down €10,770 (-26.2%), from €41,106 to €30,336
- Financial income -€10,233
down €10,233 (-27.9%), from €36,670 to €26,437
- Depreciation -€7,636
down €7,636 (-11.7%), from €65,346 to €57,710
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 | €4,740,933 | €2,471,126 | -€2.3m | -47.9% |
| Fixed assets | 21/28 | €2,299,227 | €2,241,517 | -€57,710 | -2.5% |
| Tangible fixed assets | 22/27 | €2,299,227 | €2,241,517 | -€57,710 | -2.5% |
| Land and buildings | 22 | €2,299,227 | €2,241,517 | -€57,710 | -2.5% |
| Current assets | 29/58 | €2,441,706 | €229,609 | -€2.2m | -90.6% |
| Amounts receivable within one year | 40/41 | €2,382,273 | €202,911 | -€2.2m | -91.5% |
| Trade receivables | 40 | €38,780 | €60,220 | +€21,440 | +55.3% |
| Other amounts receivable | 41 | €2,343,493 | €142,691 | -€2.2m | -93.9% |
| Cash at bank and in hand | 54/58 | €22,763 | €261 | -€22,502 | -98.9% |
| Deferred charges and accrued income | 490/1 | €36,670 | €26,437 | -€10,233 | -27.9% |
| Total equity and liabilities | 10/49 | €4,740,933 | €2,471,126 | -€2.3m | -47.9% |
| Equity | 10/15 | €101,593 | €232,082 | +€130,489 | +128% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€298,407 | -€167,918 | +€130,489 | +43.7% |
| Amounts payable | 17/49 | €4,639,340 | €2,239,044 | -€2.4m | -51.7% |
| Amounts payable after more than one year | 17 | €1,656,653 | €1,507,414 | -€149,239 | -9.0% |
| Financial debts | 170/4 | €1,654,573 | €1,505,334 | -€149,239 | -9.0% |
| Other amounts payable | 178/9 | €2,080 | €2,080 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,926,472 | €725,634 | -€2.2m | -75.2% |
| Current portion of amounts payable after more than one year | 42 | €174,027 | €162,715 | -€11,312 | -6.5% |
| Financial debts | 43 | - | €1,099 | +€1,099 | |
| Credit institutions | 430/8 | - | €1,099 | +€1,099 | |
| Trade debts | 44 | €530,746 | €172,043 | -€358,703 | -67.6% |
| Suppliers | 440/4 | €530,746 | €172,043 | -€358,703 | -67.6% |
| Taxes, remuneration and social security | 45 | €45,978 | €2,907 | -€43,071 | -93.7% |
| Taxes | 450/3 | €45,978 | €2,907 | -€43,071 | -93.7% |
| Other amounts payable | 47/48 | €2,175,721 | €386,870 | -€1.8m | -82.2% |
| Accrued charges and deferred income | 492/3 | €56,215 | €5,996 | -€50,219 | -89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,346 | €57,710 | -€7,636 | -11.7% |
| Other operating charges | 640/8 | €41,106 | €30,336 | -€10,770 | -26.2% |
| Gross operating margin | 9900 | €144,615 | €251,005 | +€106,389 | +73.6% |
| Operating profit (loss) | 9901 | €38,163 | €162,959 | +€124,796 | +327% |
| Financial income | 75/76B | €36,670 | €26,437 | -€10,233 | -27.9% |
| Recurring financial income | 75 | €36,670 | €26,437 | -€10,233 | -27.9% |
| Financial charges | 65/66B | €179,573 | €56,826 | -€122,747 | -68.4% |
| Recurring financial charges | 65 | €179,573 | €56,826 | -€122,747 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | -€104,740 | €132,569 | +€237,309 | |
| Income taxes | 67/77 | - | €2,081 | +€2,081 | |
| Profit (loss) for the period | 9904 | -€104,740 | €130,489 | +€235,229 | |
| Profit (loss) for the period to be appropriated | 9905 | -€104,740 | €130,489 | +€235,229 |
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 16 October 2026 via checked.be.