J. PALS: 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. PALS
Largest movements
- Tangible fixed assets -€14,724
down €14,724 (-3.4%), from €436,302 to €421,578
- Debts after one year -€21,051
down €21,051 (-6.6%), from €321,028 to €299,977
- Other debts +€17,000
up €17,000 (+13.2%), from €129,027 to €146,027
- Profit (loss) carried forward -€7,713
down €7,713 (-18.0%), from -€42,920 to -€50,633
- Depreciation +€14,724
up €14,724, from €0 to €14,724
- Gross operating margin -€8,790
down €8,790 (-28.1%), from €31,257 to €22,467
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 | €441,552 | €426,582 | -€14,970 | -3.4% |
| Fixed assets | 21/28 | €436,302 | €421,578 | -€14,724 | -3.4% |
| Tangible fixed assets | 22/27 | €436,302 | €421,578 | -€14,724 | -3.4% |
| Land and buildings | 22 | €436,302 | €421,578 | -€14,724 | -3.4% |
| Current assets | 29/58 | €5,250 | €5,004 | -€246 | -4.7% |
| Cash at bank and in hand | 54/58 | €3,093 | €2,841 | -€252 | -8.1% |
| Deferred charges and accrued income | 490/1 | €2,157 | €2,163 | +€6 | +0.3% |
| Total equity and liabilities | 10/49 | €441,552 | €426,582 | -€14,970 | -3.4% |
| Equity | 10/15 | -€34,720 | -€42,433 | -€7,713 | -22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | - | €2,000 | +€2,000 | |
| Profit (loss) carried forward | 14 | -€42,920 | -€50,633 | -€7,713 | -18.0% |
| Amounts payable | 17/49 | €476,272 | €469,015 | -€7,257 | -1.5% |
| Amounts payable after more than one year | 17 | €321,028 | €299,977 | -€21,051 | -6.6% |
| Financial debts | 170/4 | €321,028 | €299,977 | -€21,051 | -6.6% |
| Amounts payable within one year | 42/48 | €152,165 | €168,942 | +€16,776 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €20,508 | €21,051 | +€543 | +2.6% |
| Trade debts | 44 | €2,631 | €1,864 | -€767 | -29.2% |
| Suppliers | 440/4 | €2,631 | €1,864 | -€767 | -29.2% |
| Other amounts payable | 47/48 | €129,027 | €146,027 | +€17,000 | +13.2% |
| Accrued charges and deferred income | 492/3 | €3,078 | €97 | -€2,982 | -96.9% |
| Non-recurring operating income | 76A | €5,830 | €0 | -€5,830 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €14,724 | +€14,724 | |
| Other operating charges | 640/8 | €3,933 | €3,950 | +€18 | +0.4% |
| Gross operating margin | 9900 | €31,257 | €22,467 | -€8,790 | -28.1% |
| Operating profit (loss) | 9901 | €27,324 | €3,793 | -€23,532 | -86.1% |
| Financial charges | 65/66B | €11,335 | €11,506 | +€171 | +1.5% |
| Recurring financial charges | 65 | €11,335 | €11,506 | +€171 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €15,990 | -€7,713 | -€23,703 | |
| Profit (loss) for the period | 9904 | €15,990 | -€7,713 | -€23,703 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,990 | -€7,713 | -€23,703 |
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 13 October 2026 via checked.be.