JACOBS HANDEL: 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.
What changed
JACOBS HANDEL
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€210,120
2024 · €290,272-€80,152
Equity
€2.4m
2024 · €2.3m+€127,792
Cash
€31,752
2024 · €84,647-€52,895
Balance sheet total
€5.7m
2024 · €4.3m+€1.3m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+55.4%), from €2.5m to €3.9m
of which Land and buildings: +€1.3m
- Stocks and contracts +€130,542
up €130,542 (+10.2%), from €1.3m to €1.4m
- Receivables within one year -€98,455
down €98,455 (-24.4%), from €403,579 to €305,124
of which Trade receivables: -€111,197
- Current investments -€60,000
no longer reported in 2025 (was €60,000)
Equity and liabilities
- Debts after one year +€1.2m
up €1.2m (+72.7%), from €1.6m to €2.8m
- Reserves +€127,792
up €127,792 (+5.6%), from €2.3m to €2.4m
of which Distributable reserves: +€110,542
Income statement
- Gross operating margin +€138,073
up €138,073 (+24.7%), from €559,834 to €697,907
- Taxes +€87,070
up €87,070 (+175%), from €49,826 to €136,896
- Provisions +€75,492
no longer reported in 2025 (was -€75,492)
- Depreciation +€64,798
up €64,798 (+38.9%), from €166,726 to €231,524
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.
Result 2024
€290,272
Gross operating margin
+€138,073
Staff costs
-€1,464
Depreciation
-€64,798
Provisions
-€75,492
Other operating charges
+€4,157
Other operating items
+€4,790
Financial income
+€1,202
Financial charges
+€6,201
Taxes
-€87,070
Deferred taxes and other
-€5,750
Result 2025
€210,120
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€441,606
Investment
-€1.6m
Financing
+€1.1m
Cash 2024
€84,647
From operations (derived)
+€441,606
Net result for the year
+€210,120
Depreciation
+€231,524
Stocks and contracts
-€130,542
Receivables within one year
+€98,455
Provisions
+€5,750
Trade debts
+€19,862
Smaller working-capital items
+€6,437
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Current investments
+€60,000
Financing
+€1.1m
Debts after one year
+€1.2m
Current portion of long-term debt
-€12,650
Contributions, distributions and other
-€82,328
Cash 2025
€31,752
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,341,370 | €5,650,653 | +€1.3m | +30.2% |
| Fixed assets | 21/28 | €2,511,007 | €3,901,097 | +€1.4m | +55.4% |
| Tangible fixed assets | 22/27 | €2,510,737 | €3,900,827 | +€1.4m | +55.4% |
| Land and buildings | 22 | €1,993,888 | €3,308,479 | +€1.3m | +65.9% |
| Plant, machinery and equipment | 23 | €381,079 | €378,658 | -€2,420 | -0.6% |
| Furniture and vehicles | 24 | €135,771 | €213,689 | +€77,919 | +57.4% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €1,830,363 | €1,749,556 | -€80,808 | -4.4% |
| Stocks and contracts in progress | 3 | €1,282,138 | €1,412,680 | +€130,542 | +10.2% |
| Stocks | 30/36 | €1,282,138 | €1,412,680 | +€130,542 | +10.2% |
| Amounts receivable within one year | 40/41 | €403,579 | €305,124 | -€98,455 | -24.4% |
| Trade receivables | 40 | €365,935 | €254,738 | -€111,197 | -30.4% |
| Other amounts receivable | 41 | €37,644 | €50,386 | +€12,742 | +33.8% |
| Current investments | 50/53 | €60,000 | - | -€60,000 | |
| Cash at bank and in hand | 54/58 | €84,647 | €31,752 | -€52,895 | -62.5% |
| Total equity and liabilities | 10/49 | €4,341,370 | €5,650,653 | +€1.3m | +30.2% |
| Equity | 10/15 | €2,312,295 | €2,440,087 | +€127,792 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,293,695 | €2,421,487 | +€127,792 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €73,500 | +€17,250 | +30.7% |
| Distributable reserves | 133 | €2,235,585 | €2,346,127 | +€110,542 | +4.9% |
| Provisions and deferred taxes | 16 | - | €5,750 | +€5,750 | |
| Deferred taxes | 168 | - | €5,750 | +€5,750 | |
| Amounts payable | 17/49 | €2,029,076 | €3,204,816 | +€1.2m | +57.9% |
| Amounts payable after more than one year | 17 | €1,599,318 | €2,761,410 | +€1.2m | +72.7% |
| Financial debts | 170/4 | €1,599,318 | €2,761,410 | +€1.2m | +72.7% |
| Amounts payable within one year | 42/48 | €429,757 | €443,406 | +€13,649 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €214,166 | €201,516 | -€12,650 | -5.9% |
| Trade debts | 44 | €114,702 | €134,564 | +€19,862 | +17.3% |
| Suppliers | 440/4 | €114,702 | €134,564 | +€19,862 | +17.3% |
| Taxes, remuneration and social security | 45 | €99,265 | €102,158 | +€2,893 | +2.9% |
| Taxes | 450/3 | €82,668 | €87,808 | +€5,141 | +6.2% |
| Remuneration and social security | 454/9 | €16,598 | €14,350 | -€2,248 | -13.5% |
| Other amounts payable | 47/48 | €1,624 | €5,169 | +€3,544 | +218% |
| Remuneration, social security and pensions | 62 | €88,121 | €89,586 | +€1,464 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,726 | €231,524 | +€64,798 | +38.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€75,492 | - | +€75,492 | |
| Other operating charges | 640/8 | €30,294 | €26,137 | -€4,157 | -13.7% |
| Non-recurring operating charges | 66A | €4,790 | - | -€4,790 | |
| Gross operating margin | 9900 | €559,834 | €697,907 | +€138,073 | +24.7% |
| Operating profit (loss) | 9901 | €345,395 | €350,660 | +€5,265 | +1.5% |
| Financial income | 75/76B | €24,513 | €25,714 | +€1,202 | +4.9% |
| Recurring financial income | 75 | €24,513 | €25,714 | +€1,202 | +4.9% |
| Financial charges | 65/66B | €29,809 | €23,608 | -€6,201 | -20.8% |
| Recurring financial charges | 65 | €29,809 | €23,608 | -€6,201 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €340,099 | €352,766 | +€12,667 | +3.7% |
| Transfer to deferred taxes | 680 | - | €5,750 | +€5,750 | |
| Income taxes | 67/77 | €49,826 | €136,896 | +€87,070 | +175% |
| Profit (loss) for the period | 9904 | €290,272 | €210,120 | -€80,152 | -27.6% |
| Transfer to tax-exempt reserves | 689 | - | €17,250 | +€17,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €290,272 | €192,870 | -€97,402 | -33.6% |
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 1 November 2026 via checked.be.