J-TEAM: 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-TEAM
Largest movements
- Receivables within one year +€301,470
up €301,470 (+198.4%), from €151,954 to €453,424
of which Trade receivables: +€295,052
- Cash +€147,603
up €147,603 (+293.9%), from €50,214 to €197,817
mainly Net result for the year (+€297,525) and Tax, wage and social debts (+€180,407)
- Profit (loss) carried forward +€297,525
up €297,525 (+366.2%), from €81,249 to €378,774
- Tax, wage and social debts +€180,407
up €180,407 (+4848.8%), from €3,721 to €184,128
- Advances received -€97,000
down €97,000 (-85.6%), from €113,341 to €16,341
- Trade debts +€79,371
up €79,371 (+186.4%), from €42,578 to €121,949
- Gross operating margin +€379,159
up €379,159 (+827.0%), from €45,847 to €425,005
- Taxes +€89,774
up €89,774 (+2202.2%), from €4,077 to €93,850
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 | €270,458 | €719,457 | +€448,999 | +166.0% |
| Fixed assets | 21/28 | €66,071 | €65,043 | -€1,028 | -1.6% |
| Tangible fixed assets | 22/27 | €66,071 | €65,043 | -€1,028 | -1.6% |
| Land and buildings | 22 | €1,665 | €1,165 | -€500 | -30.0% |
| Plant, machinery and equipment | 23 | €13,206 | €15,951 | +€2,745 | +20.8% |
| Furniture and vehicles | 24 | €41,437 | €41,257 | -€180 | -0.4% |
| Leasing and similar rights | 25 | €9,764 | €6,671 | -€3,092 | -31.7% |
| Current assets | 29/58 | €204,387 | €654,414 | +€450,027 | +220.2% |
| Amounts receivable within one year | 40/41 | €151,954 | €453,424 | +€301,470 | +198.4% |
| Trade receivables | 40 | €151,947 | €446,999 | +€295,052 | +194.2% |
| Other amounts receivable | 41 | €7 | €6,425 | +€6,417 | +90899.3% |
| Cash at bank and in hand | 54/58 | €50,214 | €197,817 | +€147,603 | +293.9% |
| Deferred charges and accrued income | 490/1 | €2,219 | €3,173 | +€954 | +43.0% |
| Total equity and liabilities | 10/49 | €270,458 | €719,457 | +€448,999 | +166.0% |
| Equity | 10/15 | €86,249 | €383,774 | +€297,525 | +345.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,249 | €378,774 | +€297,525 | +366.2% |
| Amounts payable | 17/49 | €184,210 | €335,683 | +€151,473 | +82.2% |
| Amounts payable after more than one year | 17 | €3,148 | €0 | -€3,148 | -100.0% |
| Financial debts | 170/4 | €3,148 | €0 | -€3,148 | -100.0% |
| Amounts payable within one year | 42/48 | €179,457 | €334,805 | +€155,348 | +86.6% |
| Current portion of amounts payable after more than one year | 42 | €4,249 | €3,148 | -€1,100 | -25.9% |
| Trade debts | 44 | €42,578 | €121,949 | +€79,371 | +186.4% |
| Suppliers | 440/4 | €42,578 | €121,949 | +€79,371 | +186.4% |
| Advances received on contracts in progress | 46 | €113,341 | €16,341 | -€97,000 | -85.6% |
| Taxes, remuneration and social security | 45 | €3,721 | €184,128 | +€180,407 | +4848.8% |
| Taxes | 450/3 | €3,721 | €184,128 | +€180,407 | +4848.8% |
| Other amounts payable | 47/48 | €15,568 | €9,238 | -€6,330 | -40.7% |
| Accrued charges and deferred income | 492/3 | €1,605 | €878 | -€727 | -45.3% |
| Non-recurring operating income | 76A | - | €6,218 | +€6,218 | |
| Remuneration, social security and pensions | 62 | - | €567 | +€567 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,557 | €23,362 | +€2,805 | +13.6% |
| Other operating charges | 640/8 | €2,768 | €4,554 | +€1,786 | +64.5% |
| Gross operating margin | 9900 | €45,847 | €425,005 | +€379,159 | +827.0% |
| Operating profit (loss) | 9901 | €22,521 | €396,522 | +€374,001 | +1660.7% |
| Financial income | 75/76B | €86 | €351 | +€265 | +306.4% |
| Recurring financial income | 75 | €86 | €351 | +€265 | +306.4% |
| Financial charges | 65/66B | €2,334 | €5,498 | +€3,163 | +135.5% |
| Recurring financial charges | 65 | €2,334 | €5,498 | +€3,163 | +135.5% |
| Profit (loss) for the period before taxes | 9903 | €20,273 | €391,375 | +€371,102 | +1830.5% |
| Income taxes | 67/77 | €4,077 | €93,850 | +€89,774 | +2202.2% |
| Profit (loss) for the period | 9904 | €16,197 | €297,525 | +€281,329 | +1737.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,197 | €297,525 | +€281,329 | +1737.0% |
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 9 October 2026 via checked.be.