JAAG FINANCE: 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.
JAAG FINANCE
Largest movements
- Receivables within one year +€191,198
new in 2025: €191,198
- Receivables after one year +€117,811
up €117,811 (+49.9%), from €236,000 to €353,811
- Cash -€104,715
down €104,715 (-59.5%), from €175,844 to €71,129
mainly Receivables within one year (-€191,198) and Receivables after one year (-€117,811)
- Intangible fixed assets -€30,000
no longer reported in 2025 (was €30,000)
- Deferred charges and accrued income +€27,739
new in 2025: €27,739
- Reserves +€126,155
up €126,155 (+39.5%), from €319,195 to €445,350
of which Distributable reserves: +€126,155
- Tax, wage and social debts +€64,499
up €64,499 (+47.4%), from €136,112 to €200,612
- Gross operating margin -€158,207
down €158,207 (-44.8%), from €353,316 to €195,109
- Taxes -€47,959
down €47,959 (-40.6%), from €118,205 to €70,246
- Financial income +€11,178
up €11,178 (+373%), from €3,000 to €14,178
- Staff costs -€4,743
no longer reported in 2025 (was €4,743)
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 | €463,914 | €655,243 | +€191,329 | +41.2% |
| Fixed assets | 21/28 | €52,070 | €11,367 | -€40,704 | -78.2% |
| Intangible fixed assets | 21 | €30,000 | - | -€30,000 | |
| Tangible fixed assets | 22/27 | €20,110 | €9,407 | -€10,704 | -53.2% |
| Furniture and vehicles | 24 | €14,423 | €9,407 | -€5,016 | -34.8% |
| Other tangible fixed assets | 26 | €5,688 | - | -€5,688 | |
| Financial fixed assets | 28 | €1,960 | €1,960 | = | 0.0% |
| Current assets | 29/58 | €411,844 | €643,877 | +€232,033 | +56.3% |
| Amounts receivable after more than one year | 29 | €236,000 | €353,811 | +€117,811 | +49.9% |
| Other amounts receivable | 291 | €236,000 | €353,811 | +€117,811 | +49.9% |
| Amounts receivable within one year | 40/41 | - | €191,198 | +€191,198 | |
| Other amounts receivable | 41 | - | €191,198 | +€191,198 | |
| Cash at bank and in hand | 54/58 | €175,844 | €71,129 | -€104,715 | -59.5% |
| Deferred charges and accrued income | 490/1 | - | €27,739 | +€27,739 | |
| Total equity and liabilities | 10/49 | €463,914 | €655,243 | +€191,329 | +41.2% |
| Equity | 10/15 | €327,701 | €453,860 | +€126,159 | +38.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €319,195 | €445,350 | +€126,155 | +39.5% |
| Non-distributable reserves | 130/1 | €1,487 | €1,487 | = | 0.0% |
| Legal reserve | 130 | €1,487 | €1,487 | = | 0.0% |
| Distributable reserves | 133 | €317,708 | €443,863 | +€126,155 | +39.7% |
| Profit (loss) carried forward | 14 | €2,306 | €2,310 | +€4 | +0.2% |
| Amounts payable | 17/49 | €136,213 | €201,383 | +€65,170 | +47.8% |
| Amounts payable within one year | 42/48 | €136,213 | €201,383 | +€65,170 | +47.8% |
| Trade debts | 44 | - | €772 | +€772 | |
| Suppliers | 440/4 | - | €772 | +€772 | |
| Taxes, remuneration and social security | 45 | €136,112 | €200,612 | +€64,499 | +47.4% |
| Taxes | 450/3 | €136,112 | €200,612 | +€64,499 | +47.4% |
| Other amounts payable | 47/48 | €101 | - | -€101 | |
| Remuneration, social security and pensions | 62 | €4,743 | - | -€4,743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,027 | €10,704 | -€1,324 | -11.0% |
| Other operating charges | 640/8 | €1,647 | €1,889 | +€242 | +14.7% |
| Gross operating margin | 9900 | €353,316 | €195,109 | -€158,207 | -44.8% |
| Operating profit (loss) | 9901 | €334,899 | €182,517 | -€152,382 | -45.5% |
| Financial income | 75/76B | €3,000 | €14,178 | +€11,178 | +373% |
| Recurring financial income | 75 | €3,000 | €14,178 | +€11,178 | +373% |
| Financial charges | 65/66B | €111 | €289 | +€179 | +162% |
| Recurring financial charges | 65 | €111 | €289 | +€179 | +162% |
| Profit (loss) for the period before taxes | 9903 | €337,789 | €196,406 | -€141,383 | -41.9% |
| Income taxes | 67/77 | €118,205 | €70,246 | -€47,959 | -40.6% |
| Profit (loss) for the period | 9904 | €219,583 | €126,159 | -€93,424 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €219,583 | €126,159 | -€93,424 | -42.5% |
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 30 October 2026 via checked.be.