JABO: 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.
JABO
Largest movements
- Tangible fixed assets +€660,149
up €660,149 (+16.9%), from €3.9m to €4.6m
of which Land and buildings: +€708,550
- Cash -€636,509
down €636,509 (-92.5%), from €688,300 to €51,791
mainly Investment in fixed assets (net) (-€837,722) and Current portion of long-term debt (-€594,575)
- Current investments +€494,733
up €494,733 (+3.9%), from €12.8m to €13.3m
- Stocks and contracts -€242,331
no longer reported in 2025 (was €242,331)
- Other debts +€930,077
up €930,077 (+17.1%), from €5.4m to €6.4m
- Current portion of long-term debt -€594,575
down €594,575 (-83.3%), from €714,126 to €119,552
- Depreciation +€71,849
up €71,849 (+68.0%), from €105,723 to €177,573
- Other operating charges -€71,664
down €71,664 (-57.1%), from €125,593 to €53,929
- Financial income -€33,015
down €33,015 (-9.8%), from €336,413 to €303,398
of which Financial income: -€127,869
- Taxes -€13,972
down €13,972 (-25.5%), from €54,754 to €40,781
- Financial charges -€11,069
down €11,069 (-5.9%), from €187,088 to €176,020
of which Financial charges: -€8,349
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 | €17,965,155 | €18,179,969 | +€214,814 | +1.2% |
| Fixed assets | 21/28 | €3,918,666 | €4,578,816 | +€660,149 | +16.8% |
| Tangible fixed assets | 22/27 | €3,915,803 | €4,575,953 | +€660,149 | +16.9% |
| Land and buildings | 22 | €3,748,889 | €4,457,439 | +€708,550 | +18.9% |
| Plant, machinery and equipment | 23 | €165,772 | €117,868 | -€47,905 | -28.9% |
| Furniture and vehicles | 24 | €1,142 | €646 | -€496 | -43.4% |
| Financial fixed assets | 28 | €2,863 | €2,863 | = | 0.0% |
| Current assets | 29/58 | €14,046,488 | €13,601,153 | -€445,335 | -3.2% |
| Stocks and contracts in progress | 3 | €242,331 | - | -€242,331 | |
| Stocks | 30/36 | €242,331 | - | -€242,331 | |
| Amounts receivable within one year | 40/41 | €111,171 | €206,082 | +€94,911 | +85.4% |
| Trade receivables | 40 | €51,153 | €46,356 | -€4,797 | -9.4% |
| Other amounts receivable | 41 | €60,018 | €159,726 | +€99,707 | +166.1% |
| Current investments | 50/53 | €12,786,926 | €13,281,659 | +€494,733 | +3.9% |
| Cash at bank and in hand | 54/58 | €688,300 | €51,791 | -€636,509 | -92.5% |
| Deferred charges and accrued income | 490/1 | €217,759 | €61,622 | -€156,138 | -71.7% |
| Total equity and liabilities | 10/49 | €17,965,155 | €18,179,969 | +€214,814 | +1.2% |
| Equity | 10/15 | €11,224,587 | €11,253,605 | +€29,018 | +0.3% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €11,099,805 | €11,129,658 | +€29,853 | +0.3% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,193,221 | €5,165,675 | -€27,546 | -0.5% |
| Distributable reserves | 133 | €5,894,190 | €5,951,589 | +€57,399 | +1.0% |
| Profit (loss) carried forward | 14 | €835 | - | -€835 | |
| Amounts payable | 17/49 | €6,740,568 | €6,926,364 | +€185,797 | +2.8% |
| Amounts payable after more than one year | 17 | €381,718 | €288,267 | -€93,452 | -24.5% |
| Financial debts | 170/4 | €381,718 | €288,267 | -€93,452 | -24.5% |
| Amounts payable within one year | 42/48 | €6,236,631 | €6,638,008 | +€401,377 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €714,126 | €119,552 | -€594,575 | -83.3% |
| Financial debts | 43 | €4,376 | - | -€4,376 | |
| Credit institutions | 430/8 | €4,376 | - | -€4,376 | |
| Trade debts | 44 | €49,641 | €91,295 | +€41,653 | +83.9% |
| Suppliers | 440/4 | €49,641 | €91,295 | +€41,653 | +83.9% |
| Taxes, remuneration and social security | 45 | €25,785 | €54,382 | +€28,597 | +110.9% |
| Taxes | 450/3 | €25,785 | €54,382 | +€28,597 | +110.9% |
| Other amounts payable | 47/48 | €5,442,703 | €6,372,780 | +€930,077 | +17.1% |
| Accrued charges and deferred income | 492/3 | €122,218 | €89 | -€122,129 | -99.9% |
| Non-recurring operating income | 76A | €0 | €3,291 | +€3,291 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,723 | €177,573 | +€71,849 | +68.0% |
| Other operating charges | 640/8 | €125,593 | €53,929 | -€71,664 | -57.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €173,089 | €173,923 | +€834 | +0.5% |
| Operating profit (loss) | 9901 | -€58,227 | -€57,579 | +€648 | +1.1% |
| Financial income | 75/76B | €336,413 | €303,398 | -€33,015 | -9.8% |
| Recurring financial income | 75 | €317,020 | €189,150 | -€127,869 | -40.3% |
| Non-recurring financial income | 76B | €19,394 | €114,247 | +€94,854 | +489.1% |
| Financial charges | 65/66B | €187,088 | €176,020 | -€11,069 | -5.9% |
| Recurring financial charges | 65 | €184,369 | €176,020 | -€8,349 | -4.5% |
| Non-recurring financial charges | 66B | €2,720 | - | -€2,720 | |
| Profit (loss) for the period before taxes | 9903 | €91,098 | €69,799 | -€21,299 | -23.4% |
| Income taxes | 67/77 | €54,754 | €40,781 | -€13,972 | -25.5% |
| Profit (loss) for the period | 9904 | €36,344 | €29,018 | -€7,326 | -20.2% |
| Transfer from tax-exempt reserves | 789 | €16,935 | €27,546 | +€10,611 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,279 | €56,564 | +€3,285 | +6.2% |
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 5 October 2026 via checked.be.