JACODIS: 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.
JACODIS
Largest movements
- Receivables within one year +€132,628
up €132,628 (+64.1%), from €207,051 to €339,679
of which Trade receivables: +€144,821
- Cash -€131,414
down €131,414 (-22.8%), from €575,904 to €444,490
mainly Accrued charges and deferred income (-€143,884) and Receivables within one year (-€132,628)
- Tangible fixed assets -€74,065
down €74,065 (-51.5%), from €143,703 to €69,638
of which Plant, machinery and equipment: -€62,116
- Deferred charges and accrued income -€43,516
down €43,516 (-53.8%), from €80,919 to €37,403
- Stocks and contracts +€30,011
up €30,011 (+5.2%), from €574,095 to €604,105
- Accrued charges and deferred income -€143,884
down €143,884 (-81.9%), from €175,641 to €31,758
- Trade debts +€68,192
up €68,192 (+14.9%), from €456,568 to €524,760
- Profit (loss) carried forward +€58,831
up €58,831 (+12.1%), from €485,131 to €543,961
- Tax, wage and social debts -€45,387
down €45,387 (-22.1%), from €205,217 to €159,829
of which Remuneration and social security: -€26,318
- Debts after one year -€23,265
down €23,265 (-17.1%), from €135,750 to €112,485
- Staff costs +€48,360
up €48,360 (+2.7%), from €1.8m to €1.8m
- Gross operating margin +€37,221
up €37,221 (+1.9%), from €2.0m to €2.0m
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 | €1,581,671 | €1,495,315 | -€86,356 | -5.5% |
| Fixed assets | 21/28 | €143,703 | €69,638 | -€74,065 | -51.5% |
| Tangible fixed assets | 22/27 | €143,703 | €69,638 | -€74,065 | -51.5% |
| Plant, machinery and equipment | 23 | €108,533 | €46,417 | -€62,116 | -57.2% |
| Furniture and vehicles | 24 | €34,838 | €23,222 | -€11,616 | -33.3% |
| Other tangible fixed assets | 26 | €332 | €0 | -€332 | -100.0% |
| Current assets | 29/58 | €1,437,969 | €1,425,677 | -€12,291 | -0.9% |
| Stocks and contracts in progress | 3 | €574,095 | €604,105 | +€30,011 | +5.2% |
| Stocks | 30/36 | €574,095 | €604,105 | +€30,011 | +5.2% |
| Amounts receivable within one year | 40/41 | €207,051 | €339,679 | +€132,628 | +64.1% |
| Trade receivables | 40 | €11,475 | €156,296 | +€144,821 | +1,262% |
| Other amounts receivable | 41 | €195,576 | €183,383 | -€12,193 | -6.2% |
| Cash at bank and in hand | 54/58 | €575,904 | €444,490 | -€131,414 | -22.8% |
| Deferred charges and accrued income | 490/1 | €80,919 | €37,403 | -€43,516 | -53.8% |
| Total equity and liabilities | 10/49 | €1,581,671 | €1,495,315 | -€86,356 | -5.5% |
| Equity | 10/15 | €552,828 | €611,659 | +€58,831 | +10.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €485,131 | €543,961 | +€58,831 | +12.1% |
| Amounts payable | 17/49 | €1,028,843 | €883,657 | -€145,187 | -14.1% |
| Amounts payable after more than one year | 17 | €135,750 | €112,485 | -€23,265 | -17.1% |
| Financial debts | 170/4 | €135,750 | €112,485 | -€23,265 | -17.1% |
| Amounts payable within one year | 42/48 | €717,452 | €739,414 | +€21,961 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €55,667 | €54,824 | -€843 | -1.5% |
| Trade debts | 44 | €456,568 | €524,760 | +€68,192 | +14.9% |
| Suppliers | 440/4 | €456,568 | €524,760 | +€68,192 | +14.9% |
| Taxes, remuneration and social security | 45 | €205,217 | €159,829 | -€45,387 | -22.1% |
| Taxes | 450/3 | €19,069 | €0 | -€19,069 | -100% |
| Remuneration and social security | 454/9 | €186,148 | €159,829 | -€26,318 | -14.1% |
| Accrued charges and deferred income | 492/3 | €175,641 | €31,758 | -€143,884 | -81.9% |
| Remuneration, social security and pensions | 62 | €1,771,423 | €1,819,783 | +€48,360 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,508 | €78,708 | +€2,200 | +2.9% |
| Other operating charges | 640/8 | €5,241 | €15,507 | +€10,266 | +196% |
| Gross operating margin | 9900 | €1,970,412 | €2,007,633 | +€37,221 | +1.9% |
| Operating profit (loss) | 9901 | €117,240 | €93,635 | -€23,605 | -20.1% |
| Financial income | 75/76B | €17,670 | €15,280 | -€2,390 | -13.5% |
| Recurring financial income | 75 | €17,670 | €15,280 | -€2,390 | -13.5% |
| Financial charges | 65/66B | €21,420 | €31,594 | +€10,173 | +47.5% |
| Recurring financial charges | 65 | €21,420 | €31,594 | +€10,173 | +47.5% |
| Profit (loss) for the period before taxes | 9903 | €113,490 | €77,321 | -€36,169 | -31.9% |
| Income taxes | 67/77 | €29,642 | €18,490 | -€11,152 | -37.6% |
| Profit (loss) for the period | 9904 | €83,848 | €58,831 | -€25,017 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,848 | €58,831 | -€25,017 | -29.8% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.