JACO: 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.
JACO
Largest movements
- Tangible fixed assets -€86,495
down €86,495 (-4.7%), from €1.8m to €1.8m
of which Land and buildings: -€96,899
- Debts after one year -€101,061
down €101,061 (-13.2%), from €765,672 to €664,611
- Other debts +€29,687
up €29,687 (+92.8%), from €31,976 to €61,664
- Reserves -€26,814
down €26,814 (-2.1%), from €1.3m to €1.3m
of which Distributable reserves: -€26,814
- Gross operating margin +€74,188
up €74,188 (+57.3%), from €129,420 to €203,608
- Depreciation +€31,656
up €31,656 (+47.2%), from €67,072 to €98,728
- Other operating charges +€18,253
up €18,253 (+72.7%), from €25,091 to €43,344
- Financial income +€11,455
up €11,455 (+337%), from €3,396 to €14,850
- Financial charges +€6,945
up €6,945 (+43.5%), from €15,980 to €22,925
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,264,905 | €2,163,076 | -€101,829 | -4.5% |
| Fixed assets | 21/28 | €1,844,101 | €1,757,606 | -€86,495 | -4.7% |
| Tangible fixed assets | 22/27 | €1,844,101 | €1,757,606 | -€86,495 | -4.7% |
| Land and buildings | 22 | €1,841,931 | €1,745,031 | -€96,899 | -5.3% |
| Plant, machinery and equipment | 23 | €1,602 | €8,391 | +€6,789 | +424% |
| Furniture and vehicles | 24 | €567 | €1,000 | +€432 | +76.2% |
| Other tangible fixed assets | 26 | - | €3,184 | +€3,184 | |
| Current assets | 29/58 | €420,804 | €405,470 | -€15,334 | -3.6% |
| Amounts receivable after more than one year | 29 | €330,000 | €330,000 | = | 0.0% |
| Other amounts receivable | 291 | €330,000 | €330,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,111 | €4,885 | +€3,774 | +340% |
| Trade receivables | 40 | €0 | €4,885 | +€4,885 | |
| Other amounts receivable | 41 | €1,111 | €0 | -€1,111 | -100% |
| Cash at bank and in hand | 54/58 | €80,185 | €65,810 | -€14,375 | -17.9% |
| Deferred charges and accrued income | 490/1 | €9,508 | €4,776 | -€4,733 | -49.8% |
| Total equity and liabilities | 10/49 | €2,264,905 | €2,163,076 | -€101,829 | -4.5% |
| Equity | 10/15 | €1,350,058 | €1,323,244 | -€26,814 | -2.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,288,058 | €1,261,244 | -€26,814 | -2.1% |
| Non-distributable reserves | 130/1 | €16,609 | €16,609 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,609 | €16,609 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €1,215,199 | €1,188,385 | -€26,814 | -2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €914,847 | €839,833 | -€75,015 | -8.2% |
| Amounts payable after more than one year | 17 | €765,672 | €664,611 | -€101,061 | -13.2% |
| Financial debts | 170/4 | €765,672 | €664,611 | -€101,061 | -13.2% |
| Amounts payable within one year | 42/48 | €129,397 | €153,755 | +€24,357 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €66,085 | €67,634 | +€1,550 | +2.3% |
| Trade debts | 44 | €12,138 | €8,012 | -€4,126 | -34.0% |
| Suppliers | 440/4 | €12,138 | €8,012 | -€4,126 | -34.0% |
| Taxes, remuneration and social security | 45 | €19,199 | €16,445 | -€2,754 | -14.3% |
| Taxes | 450/3 | €19,199 | €15,079 | -€4,119 | -21.5% |
| Remuneration and social security | 454/9 | - | €1,365 | +€1,365 | |
| Other amounts payable | 47/48 | €31,976 | €61,664 | +€29,687 | +92.8% |
| Accrued charges and deferred income | 492/3 | €19,777 | €21,467 | +€1,690 | +8.5% |
| Non-recurring operating income | 76A | €13,514 | €0 | -€13,514 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,072 | €98,728 | +€31,656 | +47.2% |
| Other operating charges | 640/8 | €25,091 | €43,344 | +€18,253 | +72.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €129,420 | €203,608 | +€74,188 | +57.3% |
| Operating profit (loss) | 9901 | €37,256 | €61,536 | +€24,280 | +65.2% |
| Financial income | 75/76B | €3,396 | €14,850 | +€11,455 | +337% |
| Recurring financial income | 75 | €3,396 | €14,850 | +€11,455 | +337% |
| Financial charges | 65/66B | €15,980 | €22,925 | +€6,945 | +43.5% |
| Recurring financial charges | 65 | €15,980 | €22,925 | +€6,945 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €24,673 | €53,462 | +€28,789 | +117% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €788 | €276 | -€512 | -65.0% |
| Profit (loss) for the period | 9904 | €23,885 | €53,186 | +€29,301 | +123% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €23,885 | €53,186 | +€29,301 | +123% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.