J & T: 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 & T
Largest movements
- Cash -€45,564
down €45,564 (-19.6%), from €232,461 to €186,897
mainly Contributions, distributions and other (-€123,369) and Trade debts (-€1,121)
- Tangible fixed assets -€10,003
down €10,003 (-21.2%), from €47,102 to €37,098
of which Furniture and vehicles: -€9,990
- Reserves -€57,650
down €57,650 (-19.3%), from €298,894 to €241,245
- Other debts +€14,130
new in 2025: €14,130
- Profit (loss) carried forward -€12,832
down €12,832 (-100.0%), from €12,832 to €0
- Gross operating margin +€16,128
up €16,128 (+22.6%), from €71,304 to €87,432
- Depreciation +€4,624
up €4,624 (+75.9%), from €6,092 to €10,716
- Taxes -€4,104
down €4,104 (-14.1%), from €29,057 to €24,953
- Financial income +€878
up €878 (+99.1%), from €886 to €1,763
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 | €313,592 | €258,560 | -€55,032 | -17.5% |
| Fixed assets | 21/28 | €47,102 | €37,098 | -€10,003 | -21.2% |
| Tangible fixed assets | 22/27 | €47,102 | €37,098 | -€10,003 | -21.2% |
| Plant, machinery and equipment | 23 | €240 | €227 | -€13 | -5.6% |
| Furniture and vehicles | 24 | €46,861 | €36,871 | -€9,990 | -21.3% |
| Current assets | 29/58 | €266,490 | €221,462 | -€45,028 | -16.9% |
| Stocks and contracts in progress | 3 | €3,181 | €3,287 | +€106 | +3.3% |
| Stocks | 30/36 | €3,181 | €3,287 | +€106 | +3.3% |
| Amounts receivable within one year | 40/41 | €30,848 | €31,277 | +€429 | +1.4% |
| Trade receivables | 40 | €20,694 | €25,045 | +€4,351 | +21.0% |
| Other amounts receivable | 41 | €10,154 | €6,232 | -€3,922 | -38.6% |
| Cash at bank and in hand | 54/58 | €232,461 | €186,897 | -€45,564 | -19.6% |
| Total equity and liabilities | 10/49 | €313,592 | €258,560 | -€55,032 | -17.5% |
| Equity | 10/15 | €312,470 | €241,989 | -€70,482 | -22.6% |
| Contributions | 10/11 | €744 | €744 | = | 0.0% |
| Reserves | 13 | €298,894 | €241,245 | -€57,650 | -19.3% |
| Distributable reserves | 133 | €298,894 | €241,245 | -€57,650 | -19.3% |
| Profit (loss) carried forward | 14 | €12,832 | €0 | -€12,832 | -100.0% |
| Amounts payable | 17/49 | €1,121 | €16,572 | +€15,450 | +1377.8% |
| Amounts payable within one year | 42/48 | €1,121 | €16,572 | +€15,450 | +1377.8% |
| Trade debts | 44 | €1,121 | €0 | -€1,121 | -100.0% |
| Suppliers | 440/4 | €1,121 | €0 | -€1,121 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €2,441 | +€2,441 | |
| Taxes | 450/3 | - | €2,441 | +€2,441 | |
| Other amounts payable | 47/48 | - | €14,130 | +€14,130 | |
| Non-recurring operating income | 76A | €607 | - | -€607 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,092 | €10,716 | +€4,624 | +75.9% |
| Other operating charges | 640/8 | €451 | €529 | +€78 | +17.2% |
| Gross operating margin | 9900 | €71,304 | €87,432 | +€16,128 | +22.6% |
| Operating profit (loss) | 9901 | €64,761 | €76,187 | +€11,426 | +17.6% |
| Financial income | 75/76B | €886 | €1,763 | +€878 | +99.1% |
| Recurring financial income | 75 | €886 | €1,763 | +€878 | +99.1% |
| Financial charges | 65/66B | €114 | €109 | -€5 | -4.3% |
| Recurring financial charges | 65 | €114 | €109 | -€5 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €65,532 | €77,841 | +€12,309 | +18.8% |
| Income taxes | 67/77 | €29,057 | €24,953 | -€4,104 | -14.1% |
| Profit (loss) for the period | 9904 | €36,475 | €52,888 | +€16,413 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,475 | €52,888 | +€16,413 | +45.0% |
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 6 October 2026 via checked.be.