JACOBEL: 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.
JACOBEL
Largest movements
- Current investments +€385,325
up €385,325 (+48.1%), from €801,225 to €1.2m
- Receivables within one year +€185,415
up €185,415 (+374%), from €49,624 to €235,038
of which Other amounts receivable: +€199,750
- Cash +€172,138
up €172,138 (+79.0%), from €217,895 to €390,033
mainly Net result for the year (+€460,875) and Accrued charges and deferred income (+€402,324)
- Tangible fixed assets -€122,098
down €122,098 (-10.5%), from €1.2m to €1.0m
of which Plant, machinery and equipment: -€126,720
- Stocks and contracts +€73,288
up €73,288 (+16.8%), from €435,397 to €508,685
- Accrued charges and deferred income +€402,324
up €402,324, from €0 to €402,324
- Other debts +€253,691
up €253,691 (+5,981%), from €4,241 to €257,932
- Reserves +€210,855
up €210,855 (+21.0%), from €1.0m to €1.2m
- Debts after one year -€137,097
down €137,097 (-19.8%), from €693,291 to €556,194
- Tax, wage and social debts -€78,598
down €78,598 (-49.9%), from €157,540 to €78,942
of which Taxes: -€59,246
- Taxes -€55,059
down €55,059 (-45.2%), from €121,702 to €66,643
- Gross operating margin +€52,219
up €52,219 (+5.0%), from €1.0m to €1.1m
- Staff costs +€25,303
up €25,303 (+7.0%), from €360,006 to €385,309
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,677,243 | €3,374,737 | +€697,494 | +26.1% |
| Fixed assets | 21/28 | €1,163,504 | €1,041,407 | -€122,098 | -10.5% |
| Tangible fixed assets | 22/27 | €1,163,504 | €1,041,407 | -€122,098 | -10.5% |
| Plant, machinery and equipment | 23 | €934,032 | €807,312 | -€126,720 | -13.6% |
| Furniture and vehicles | 24 | €3,512 | €2,756 | -€756 | -21.5% |
| Other tangible fixed assets | 26 | €225,961 | €231,339 | +€5,378 | +2.4% |
| Current assets | 29/58 | €1,513,738 | €2,333,330 | +€819,592 | +54.1% |
| Stocks and contracts in progress | 3 | €435,397 | €508,685 | +€73,288 | +16.8% |
| Stocks | 30/36 | €435,397 | €508,685 | +€73,288 | +16.8% |
| Amounts receivable within one year | 40/41 | €49,624 | €235,038 | +€185,415 | +374% |
| Trade receivables | 40 | €18,159 | €3,824 | -€14,336 | -78.9% |
| Other amounts receivable | 41 | €31,464 | €231,214 | +€199,750 | +635% |
| Current investments | 50/53 | €801,225 | €1,186,550 | +€385,325 | +48.1% |
| Cash at bank and in hand | 54/58 | €217,895 | €390,033 | +€172,138 | +79.0% |
| Deferred charges and accrued income | 490/1 | €9,598 | €13,023 | +€3,425 | +35.7% |
| Total equity and liabilities | 10/49 | €2,677,243 | €3,374,737 | +€697,494 | +26.1% |
| Equity | 10/15 | €1,105,017 | €1,315,892 | +€210,875 | +19.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,005,038 | €1,215,892 | +€210,855 | +21.0% |
| Distributable reserves | 133 | €1,005,038 | €1,215,892 | +€210,855 | +21.0% |
| Profit (loss) carried forward | 14 | -€20 | €0 | +€20 | |
| Amounts payable | 17/49 | €1,572,225 | €2,058,844 | +€486,619 | +31.0% |
| Amounts payable after more than one year | 17 | €693,291 | €556,194 | -€137,097 | -19.8% |
| Financial debts | 170/4 | €693,291 | €556,194 | -€137,097 | -19.8% |
| Amounts payable within one year | 42/48 | €878,935 | €1,100,326 | +€221,391 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €145,131 | €148,384 | +€3,254 | +2.2% |
| Financial debts | 43 | - | €3,877 | +€3,877 | |
| Credit institutions | 430/8 | - | €3,877 | +€3,877 | |
| Trade debts | 44 | €572,023 | €611,190 | +€39,168 | +6.8% |
| Suppliers | 440/4 | €572,023 | €611,190 | +€39,168 | +6.8% |
| Taxes, remuneration and social security | 45 | €157,540 | €78,942 | -€78,598 | -49.9% |
| Taxes | 450/3 | €95,858 | €36,613 | -€59,246 | -61.8% |
| Remuneration and social security | 454/9 | €61,682 | €42,329 | -€19,352 | -31.4% |
| Other amounts payable | 47/48 | €4,241 | €257,932 | +€253,691 | +5,981% |
| Accrued charges and deferred income | 492/3 | €0 | €402,324 | +€402,324 | |
| Remuneration, social security and pensions | 62 | €360,006 | €385,309 | +€25,303 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,351 | €161,584 | +€3,233 | +2.0% |
| Other operating charges | 640/8 | €2,016 | €3,041 | +€1,025 | +50.9% |
| Gross operating margin | 9900 | €1,036,674 | €1,088,893 | +€52,219 | +5.0% |
| Operating profit (loss) | 9901 | €516,301 | €538,959 | +€22,658 | +4.4% |
| Financial income | 75/76B | €5,645 | €1,529 | -€4,116 | -72.9% |
| Recurring financial income | 75 | €5,645 | €1,529 | -€4,116 | -72.9% |
| Financial charges | 65/66B | €18,512 | €12,969 | -€5,543 | -29.9% |
| Recurring financial charges | 65 | €18,512 | €12,969 | -€5,543 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €503,434 | €527,519 | +€24,084 | +4.8% |
| Income taxes | 67/77 | €121,702 | €66,643 | -€55,059 | -45.2% |
| Profit (loss) for the period | 9904 | €381,732 | €460,875 | +€79,143 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €381,732 | €460,875 | +€79,143 | +20.7% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.