JACEPO: 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.
JACEPO
Largest movements
- Tangible fixed assets +€601,871
up €601,871 (+47.0%), from €1.3m to €1.9m
- Cash -€32,478
down €32,478 (-53.2%), from €61,016 to €28,537
mainly Investment in fixed assets (net) (-€650,496) and Net result for the year (-€129,017)
- Debts after one year +€584,960
up €584,960 (+139.3%), from €420,000 to €1.0m
- Profit (loss) carried forward -€129,017
down €129,017 (-25.7%), from -€502,123 to -€631,140
- Other debts +€102,197
up €102,197 (+26.5%), from €385,922 to €488,120
- Other operating charges +€43,798
up €43,798 (+115.7%), from €37,867 to €81,665
- Depreciation -€26,877
down €26,877 (-35.6%), from €75,502 to €48,625
- Gross operating margin -€10,689
down €10,689 (-22.0%), from €48,490 to €37,801
- Financial charges -€2,218
down €2,218 (-5.7%), from €38,747 to €36,529
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 | €1,342,763 | €1,914,673 | +€571,910 | +42.6% |
| Fixed assets | 21/28 | €1,281,412 | €1,883,284 | +€601,871 | +47.0% |
| Tangible fixed assets | 22/27 | €1,281,412 | €1,883,284 | +€601,871 | +47.0% |
| Land and buildings | 22 | €1,281,412 | €1,883,284 | +€601,871 | +47.0% |
| Current assets | 29/58 | €61,350 | €31,389 | -€29,961 | -48.8% |
| Cash at bank and in hand | 54/58 | €61,016 | €28,537 | -€32,478 | -53.2% |
| Deferred charges and accrued income | 490/1 | €335 | €2,852 | +€2,517 | +752.4% |
| Total equity and liabilities | 10/49 | €1,342,763 | €1,914,673 | +€571,910 | +42.6% |
| Equity | 10/15 | €436,447 | €307,430 | -€129,017 | -29.6% |
| Contributions | 10/11 | €913,570 | €913,570 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€502,123 | -€631,140 | -€129,017 | -25.7% |
| Amounts payable | 17/49 | €906,315 | €1,607,242 | +€700,927 | +77.3% |
| Amounts payable after more than one year | 17 | €420,000 | €1,004,960 | +€584,960 | +139.3% |
| Financial debts | 170/4 | €420,000 | €1,004,960 | +€584,960 | +139.3% |
| Amounts payable within one year | 42/48 | €387,004 | €490,541 | +€103,537 | +26.8% |
| Trade debts | 44 | €1,081 | €2,421 | +€1,340 | +123.9% |
| Suppliers | 440/4 | €1,081 | €2,421 | +€1,340 | +123.9% |
| Other amounts payable | 47/48 | €385,922 | €488,120 | +€102,197 | +26.5% |
| Accrued charges and deferred income | 492/3 | €99,312 | €111,741 | +€12,429 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,502 | €48,625 | -€26,877 | -35.6% |
| Other operating charges | 640/8 | €37,867 | €81,665 | +€43,798 | +115.7% |
| Gross operating margin | 9900 | €48,490 | €37,801 | -€10,689 | -22.0% |
| Operating profit (loss) | 9901 | -€64,879 | -€92,488 | -€27,610 | -42.6% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €38,747 | €36,529 | -€2,218 | -5.7% |
| Recurring financial charges | 65 | €38,747 | €36,529 | -€2,218 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | -€103,623 | -€129,017 | -€25,394 | -24.5% |
| Income taxes | 67/77 | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period | 9904 | -€103,624 | -€129,017 | -€25,393 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,624 | -€129,017 | -€25,393 | -24.5% |
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 4 October 2026 via checked.be.