JACOPS: 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.
What changed
JACOPS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14.1m
2024 · €14.3m-€215,399
Equity
€54.1m
2024 · €45.0m+€9.1m
Cash
€2.9m
2024 · €3.2m-€263,699
Balance sheet total
€160.1m
2024 · €143.7m+€16.3m
Largest movements
Assets
- Tangible fixed assets +€7.8m
up €7.8m (+54.9%), from €14.2m to €21.9m
of which Furniture and vehicles: +€5.5m
- Receivables within one year +€5.6m
up €5.6m (+5.2%), from €106.5m to €112.1m
of which Other amounts receivable: +€6.5m
- Receivables after one year +€2.3m
up €2.3m (+35.9%), from €6.4m to €8.7m
Equity and liabilities
- Other debts -€10.5m
down €10.5m (-56.3%), from €18.6m to €8.1m
- Reserves +€9.3m
up €9.3m (+26.3%), from €35.3m to €44.6m
of which Distributable reserves: +€9.3m
- Trade debts +€7.8m
up €7.8m (+24.1%), from €32.5m to €40.3m
- Short-term financial debts +€7.4m
up €7.4m (+33.6%), from €22.0m to €29.4m
of which Credit institutions: +€11.4m
Income statement
- Turnover +€36.3m
up €36.3m (+15.5%), from €234.8m to €271.1m
- Goods and materials +€24.9m
up €24.9m (+17.8%), from €139.4m to €164.2m
of which Purchases: +€25.3m
- Services and other goods +€7.8m
up €7.8m (+22.2%), from €35.0m to €42.7m
- Staff costs +€5.0m
up €5.0m (+12.7%), from €39.5m to €44.5m
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
€14.3m
Turnover
+€36.3m
Other operating income
+€982,888
Goods and materials
-€24.9m
Services and other goods
-€7.8m
Staff costs
-€5.0m
Depreciation
-€1.4m
Write-downs
+€796,265
Provisions
+€60,740
Other operating charges
-€224,628
Other operating items
+€74,475
Financial income
+€232,873
Financial charges
+€593,150
Taxes
+€30,397
Result 2025
€14.1m
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.
From operations
+€9.9m
Investment
-€14.0m
Financing
+€3.8m
Cash 2024
€3.2m
From operations (derived)
+€9.9m
Net result for the year
+€14.1m
Depreciation
+€5.2m
Receivables after one year
-€2.3m
Stocks and contracts
+€186,560
Receivables within one year
-€5.6m
Deferred charges and accrued income
-€102,400
Provisions
-€5,513
Trade debts
+€7.8m
Tax, wage and social debts
+€1.1m
Other debts
-€10.5m
Investment (derived)
-€14.0m
Investment in fixed assets (net)
-€13.0m
Current investments
-€1.1m
Financing
+€3.8m
Debts after one year
+€1.3m
Current portion of long-term debt
+€152,081
Short-term financial debts
+€7.4m
Contributions, distributions and other
-€5.0m
Cash 2025
€2.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,717,038 | €160,063,341 | +€16.3m | +11.4% |
| Fixed assets | 21/28 | €17,243,846 | €25,018,692 | +€7.8m | +45.1% |
| Intangible fixed assets | 21 | €10,299 | €9,536 | -€762 | -7.4% |
| Tangible fixed assets | 22/27 | €14,153,853 | €21,928,938 | +€7.8m | +54.9% |
| Plant, machinery and equipment | 23 | €2,875,915 | €4,128,008 | +€1.3m | +43.5% |
| Furniture and vehicles | 24 | €9,839,061 | €15,338,527 | +€5.5m | +55.9% |
| Other tangible fixed assets | 26 | €1,350,915 | €1,280,321 | -€70,594 | -5.2% |
| Assets under construction and advance payments | 27 | €87,962 | €1,182,082 | +€1.1m | +1243.9% |
| Financial fixed assets | 28 | €3,079,694 | €3,080,218 | +€524 | 0.0% |
| Affiliated companies | 280/1 | €3,050,000 | €3,050,000 | = | 0.0% |
| Participating interests | 280 | €3,050,000 | €3,050,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €29,694 | €30,218 | +€524 | +1.8% |
| Shares | 284 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €27,194 | €27,718 | +€524 | +1.9% |
| Current assets | 29/58 | €126,473,192 | €135,044,649 | +€8.6m | +6.8% |
| Amounts receivable after more than one year | 29 | €6,373,575 | €8,658,965 | +€2.3m | +35.9% |
| Other amounts receivable | 291 | €6,373,575 | €8,658,965 | +€2.3m | +35.9% |
| Stocks and contracts in progress | 3 | €9,593,162 | €9,406,602 | -€186,560 | -1.9% |
| Stocks | 30/36 | €9,593,162 | €9,406,602 | -€186,560 | -1.9% |
| Raw materials and consumables | 30/31 | €16,609 | €15,865 | -€744 | -4.5% |
| Goods purchased for resale | 34 | €8,805,338 | €9,390,737 | +€585,399 | +6.6% |
| Advance payments | 36 | €771,215 | - | -€771,215 | |
| Amounts receivable within one year | 40/41 | €106,477,608 | €112,056,532 | +€5.6m | +5.2% |
| Trade receivables | 40 | €90,622,256 | €89,659,950 | -€962,306 | -1.1% |
| Other amounts receivable | 41 | €15,855,352 | €22,396,583 | +€6.5m | +41.3% |
| Current investments | 50/53 | - | €1,055,000 | +€1.1m | |
| Other investments | 51/53 | - | €1,055,000 | +€1.1m | |
| Cash at bank and in hand | 54/58 | €3,198,186 | €2,934,487 | -€263,699 | -8.2% |
| Deferred charges and accrued income | 490/1 | €830,662 | €933,062 | +€102,400 | +12.3% |
| Total equity and liabilities | 10/49 | €143,717,038 | €160,063,341 | +€16.3m | +11.4% |
| Equity | 10/15 | €45,005,142 | €54,071,739 | +€9.1m | +20.1% |
| Contributions | 10/11 | €420,083 | €420,083 | = | 0.0% |
| Capital | 10 | €420,083 | €420,083 | = | 0.0% |
| Issued capital | 100 | €420,083 | €420,083 | = | 0.0% |
| Reserves | 13 | €35,296,926 | €44,578,923 | +€9.3m | +26.3% |
| Non-distributable reserves | 130/1 | €137,138 | €137,138 | = | 0.0% |
| Legal reserve | 130 | €137,138 | €137,138 | = | 0.0% |
| Tax-exempt reserves | 132 | €145,606 | €139,470 | -€6,136 | -4.2% |
| Distributable reserves | 133 | €35,014,182 | €44,302,314 | +€9.3m | +26.5% |
| Profit (loss) carried forward | 14 | €9,288,133 | €9,072,733 | -€215,399 | -2.3% |
| Provisions and deferred taxes | 16 | €1,170,892 | €1,165,380 | -€5,513 | -0.5% |
| Provisions for liabilities and charges | 160/5 | €1,156,863 | €1,153,396 | -€3,468 | -0.3% |
| Other liabilities and charges | 164/5 | €1,156,863 | €1,153,396 | -€3,468 | -0.3% |
| Deferred taxes | 168 | €14,029 | €11,984 | -€2,045 | -14.6% |
| Amounts payable | 17/49 | €97,541,003 | €104,826,222 | +€7.3m | +7.5% |
| Amounts payable after more than one year | 17 | €10,373,931 | €11,654,843 | +€1.3m | +12.3% |
| Financial debts | 170/4 | €10,273,931 | €11,654,843 | +€1.4m | +13.4% |
| Credit institutions | 173 | €10,273,931 | €11,654,843 | +€1.4m | +13.4% |
| Other amounts payable | 178/9 | €100,000 | - | -€100,000 | |
| Amounts payable within one year | 42/48 | €87,164,721 | €93,169,028 | +€6.0m | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €7,568,796 | €7,720,877 | +€152,081 | +2.0% |
| Financial debts | 43 | €22,000,000 | €29,400,000 | +€7.4m | +33.6% |
| Credit institutions | 430/8 | €18,000,000 | €29,400,000 | +€11.4m | +63.3% |
| Other loans | 439 | €4,000,000 | - | -€4.0m | |
| Trade debts | 44 | €32,460,719 | €40,284,168 | +€7.8m | +24.1% |
| Suppliers | 440/4 | €32,460,719 | €40,284,168 | +€7.8m | +24.1% |
| Taxes, remuneration and social security | 45 | €6,509,715 | €7,633,944 | +€1.1m | +17.3% |
| Taxes | 450/3 | €1,579,757 | €1,683,396 | +€103,639 | +6.6% |
| Remuneration and social security | 454/9 | €4,929,958 | €5,950,548 | +€1.0m | +20.7% |
| Other amounts payable | 47/48 | €18,625,491 | €8,130,038 | -€10.5m | -56.3% |
| Accrued charges and deferred income | 492/3 | €2,351 | €2,351 | = | 0.0% |
| Operating income | 70/76A | €236,505,989 | €273,921,409 | +€37.4m | +15.8% |
| Turnover | 70 | €234,774,832 | €271,078,773 | +€36.3m | +15.5% |
| Other operating income | 74 | €1,640,232 | €2,623,120 | +€982,888 | +59.9% |
| Non-recurring operating income | 76A | €90,925 | €219,516 | +€128,591 | +141.4% |
| Operating charges | 60/66A | €219,513,128 | €258,000,368 | +€38.5m | +17.5% |
| Goods for resale, raw materials and consumables | 60 | €139,363,973 | €164,228,608 | +€24.9m | +17.8% |
| Purchases | 600/8 | €139,700,654 | €165,040,109 | +€25.3m | +18.1% |
| Change in stocks: decrease (increase) | 609 | -€336,681 | -€811,500 | -€474,820 | -141.0% |
| Services and other goods | 61 | €34,955,774 | €42,723,165 | +€7.8m | +22.2% |
| Remuneration, social security and pensions | 62 | €39,465,679 | €44,496,245 | +€5.0m | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,802,356 | €5,205,263 | +€1.4m | +36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,069,719 | €273,454 | -€796,265 | -74.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €57,273 | -€3,468 | -€60,740 | |
| Other operating charges | 640/8 | €721,051 | €945,678 | +€224,628 | +31.2% |
| Non-recurring operating charges | 66A | €77,304 | €131,421 | +€54,117 | +70.0% |
| Operating profit (loss) | 9901 | €16,992,861 | €15,921,041 | -€1.1m | -6.3% |
| Financial income | 75/76B | €4,334,305 | €4,567,178 | +€232,873 | +5.4% |
| Recurring financial income | 75 | €2,258,054 | €2,254,725 | -€3,329 | -0.1% |
| Income from current assets | 751 | €938,778 | €1,044,220 | +€105,442 | +11.2% |
| Other financial income | 752/9 | €1,319,276 | €1,210,505 | -€108,771 | -8.2% |
| Non-recurring financial income | 76B | €2,076,252 | €2,312,453 | +€236,202 | +11.4% |
| Financial charges | 65/66B | €2,659,445 | €2,066,295 | -€593,150 | -22.3% |
| Recurring financial charges | 65 | €2,659,445 | €2,007,853 | -€651,592 | -24.5% |
| Debt charges | 650 | €2,021,481 | €1,731,052 | -€290,429 | -14.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €374,220 | - | -€374,220 | |
| Other financial charges | 652/9 | €263,744 | €276,802 | +€13,057 | +5.0% |
| Non-recurring financial charges | 66B | - | €58,441 | +€58,441 | |
| Profit (loss) for the period before taxes | 9903 | €18,667,721 | €18,421,925 | -€245,797 | -1.3% |
| Transfer from deferred taxes | 780 | €2,045 | €2,045 | = | 0.0% |
| Income taxes | 67/77 | €4,387,769 | €4,357,372 | -€30,397 | -0.7% |
| Taxes | 670/3 | €4,391,302 | €4,357,372 | -€33,929 | -0.8% |
| Tax adjustments and reversals of tax provisions | 77 | €3,532 | - | -€3,532 | |
| Profit (loss) for the period | 9904 | €14,281,997 | €14,066,598 | -€215,399 | -1.5% |
| Transfer from tax-exempt reserves | 789 | €6,136 | €6,136 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,288,133 | €14,072,733 | -€215,399 | -1.5% |
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.