J2P: 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.
J2P
Largest movements
- Current investments +€603,248
new in 2025: €603,248
- Cash -€558,356
down €558,356 (-68.6%), from €814,362 to €256,006
mainly Current investments (-€603,248) and Investment in fixed assets (net) (-€87,533)
- Tangible fixed assets +€57,536
up €57,536 (+149.9%), from €38,377 to €95,913
of which Furniture and vehicles: +€66,050
- Receivables within one year -€46,289
down €46,289 (-47.2%), from €98,017 to €51,728
of which Trade receivables: -€73,229
- Reserves +€55,000
up €55,000 (+13.4%), from €411,586 to €466,586
of which Distributable reserves: +€97,100
- Debts after one year +€47,751
up €47,751 (+15917.1%), from €300 to €48,051
of which Financial debts: +€47,751
- Other debts -€25,532
down €25,532 (-95.0%), from €26,867 to €1,336
- Trade debts -€20,826
down €20,826 (-98.7%), from €21,110 to €284
- Tax, wage and social debts -€18,879
down €18,879 (-33.8%), from €55,927 to €37,047
- Gross operating margin -€95,477
down €95,477 (-42.5%), from €224,879 to €129,402
- Taxes -€69,568
no longer reported in 2025 (was €69,568)
- Depreciation +€14,026
up €14,026 (+71.0%), from €19,752 to €33,778
- Financial income +€10,145
up €10,145 (+142.6%), from €7,115 to €17,260
of which Financial income: +€5,607
- Financial charges +€2,557
up €2,557 (+413.2%), from €619 to €3,176
of which Financial charges: +€2,129
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 | €954,536 | €1,006,894 | +€52,359 | +5.5% |
| Fixed assets | 21/28 | €42,157 | €95,913 | +€53,756 | +127.5% |
| Tangible fixed assets | 22/27 | €38,377 | €95,913 | +€57,536 | +149.9% |
| Land and buildings | 22 | €25,542 | €17,028 | -€8,514 | -33.3% |
| Furniture and vehicles | 24 | €12,835 | €78,885 | +€66,050 | +514.6% |
| Financial fixed assets | 28 | €3,780 | - | -€3,780 | |
| Current assets | 29/58 | €912,378 | €910,982 | -€1,397 | -0.2% |
| Amounts receivable within one year | 40/41 | €98,017 | €51,728 | -€46,289 | -47.2% |
| Trade receivables | 40 | €93,187 | €19,958 | -€73,229 | -78.6% |
| Other amounts receivable | 41 | €4,830 | €31,770 | +€26,940 | +557.8% |
| Current investments | 50/53 | - | €603,248 | +€603,248 | |
| Cash at bank and in hand | 54/58 | €814,362 | €256,006 | -€558,356 | -68.6% |
| Total equity and liabilities | 10/49 | €954,536 | €1,006,894 | +€52,359 | +5.5% |
| Equity | 10/15 | €842,897 | €903,386 | +€60,489 | +7.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €411,586 | €466,586 | +€55,000 | +13.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | - | -€42,100 | |
| Distributable reserves | 133 | €367,626 | €464,726 | +€97,100 | +26.4% |
| Profit (loss) carried forward | 14 | €425,112 | €430,601 | +€5,489 | +1.3% |
| Amounts payable | 17/49 | €111,639 | €103,508 | -€8,131 | -7.3% |
| Amounts payable after more than one year | 17 | €300 | €48,051 | +€47,751 | +15917.1% |
| Financial debts | 170/4 | - | €47,751 | +€47,751 | |
| Other amounts payable | 178/9 | €300 | €300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €111,339 | €55,457 | -€55,882 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €7,434 | €16,790 | +€9,355 | +125.8% |
| Trade debts | 44 | €21,110 | €284 | -€20,826 | -98.7% |
| Suppliers | 440/4 | €21,110 | €284 | -€20,826 | -98.7% |
| Taxes, remuneration and social security | 45 | €55,927 | €37,047 | -€18,879 | -33.8% |
| Taxes | 450/3 | €55,927 | €37,047 | -€18,879 | -33.8% |
| Other amounts payable | 47/48 | €26,867 | €1,336 | -€25,532 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,752 | €33,778 | +€14,026 | +71.0% |
| Other operating charges | 640/8 | €3,657 | €2,950 | -€706 | -19.3% |
| Non-recurring operating charges | 66A | €520 | - | -€520 | |
| Gross operating margin | 9900 | €224,879 | €129,402 | -€95,477 | -42.5% |
| Operating profit (loss) | 9901 | €200,951 | €92,674 | -€108,277 | -53.9% |
| Financial income | 75/76B | €7,115 | €17,260 | +€10,145 | +142.6% |
| Recurring financial income | 75 | €7,115 | €12,722 | +€5,607 | +78.8% |
| Non-recurring financial income | 76B | - | €4,538 | +€4,538 | |
| Financial charges | 65/66B | €619 | €3,176 | +€2,557 | +413.2% |
| Recurring financial charges | 65 | €619 | €2,748 | +€2,129 | +344.0% |
| Non-recurring financial charges | 66B | - | €429 | +€429 | |
| Profit (loss) for the period before taxes | 9903 | €207,447 | €106,758 | -€100,689 | -48.5% |
| Transfer from deferred taxes | 780 | - | €2,682 | +€2,682 | |
| Transfer to deferred taxes | 680 | - | €48,951 | +€48,951 | |
| Income taxes | 67/77 | €69,568 | - | -€69,568 | |
| Profit (loss) for the period | 9904 | €137,879 | €60,489 | -€77,390 | -56.1% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €137,879 | €102,589 | -€35,290 | -25.6% |
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 8 October 2026 via checked.be.