JADEC: 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.
JADEC
Largest movements
- Receivables within one year -€250,472
down €250,472 (-24.0%), from €1.0m to €791,305
of which Trade receivables: -€228,635
- Tangible fixed assets -€77,601
down €77,601 (-9.9%), from €786,092 to €708,491
of which Other tangible fixed assets: -€56,202
- Intangible fixed assets -€40,318
down €40,318 (-25.0%), from €161,006 to €120,688
- Debts after one year -€368,569
down €368,569 (-27.0%), from €1.4m to €998,804
of which Other amounts payable: -€221,206
- Reserves +€87,336
up €87,336 (+11.6%), from €755,301 to €842,637
of which Distributable reserves: +€87,336
- Trade debts -€59,491
down €59,491 (-18.3%), from €324,996 to €265,505
- Tax, wage and social debts -€35,007
down €35,007 (-14.0%), from €249,728 to €214,721
of which Taxes: -€29,962
- Staff costs +€181,090
up €181,090 (+17.8%), from €1.0m to €1.2m
- Gross operating margin +€71,978
up €71,978 (+4.6%), from €1.6m to €1.6m
- Write-downs +€34,010
new in 2025: €34,010
- Taxes -€27,223
down €27,223 (-31.5%), from €86,363 to €59,140
- Financial income +€23,369
up €23,369 (+3582.2%), from €652 to €24,022
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,991,681 | €2,599,127 | -€392,553 | -13.1% |
| Fixed assets | 21/28 | €949,820 | €831,902 | -€117,919 | -12.4% |
| Intangible fixed assets | 21 | €161,006 | €120,688 | -€40,318 | -25.0% |
| Tangible fixed assets | 22/27 | €786,092 | €708,491 | -€77,601 | -9.9% |
| Plant, machinery and equipment | 23 | €10,214 | €6,373 | -€3,841 | -37.6% |
| Furniture and vehicles | 24 | €232,062 | €214,504 | -€17,558 | -7.6% |
| Other tangible fixed assets | 26 | €543,816 | €487,614 | -€56,202 | -10.3% |
| Financial fixed assets | 28 | €2,723 | €2,723 | = | 0.0% |
| Current assets | 29/58 | €2,041,860 | €1,767,225 | -€274,635 | -13.5% |
| Stocks and contracts in progress | 3 | €763,529 | €741,429 | -€22,100 | -2.9% |
| Stocks | 30/36 | €763,529 | €741,429 | -€22,100 | -2.9% |
| Amounts receivable within one year | 40/41 | €1,041,777 | €791,305 | -€250,472 | -24.0% |
| Trade receivables | 40 | €1,013,241 | €784,605 | -€228,635 | -22.6% |
| Other amounts receivable | 41 | €28,537 | €6,700 | -€21,837 | -76.5% |
| Cash at bank and in hand | 54/58 | €225,125 | €224,847 | -€278 | -0.1% |
| Deferred charges and accrued income | 490/1 | €11,429 | €9,645 | -€1,785 | -15.6% |
| Total equity and liabilities | 10/49 | €2,991,681 | €2,599,127 | -€392,553 | -13.1% |
| Equity | 10/15 | €885,301 | €972,637 | +€87,336 | +9.9% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €755,301 | €842,637 | +€87,336 | +11.6% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €742,301 | €829,637 | +€87,336 | +11.8% |
| Amounts payable | 17/49 | €2,106,379 | €1,626,490 | -€479,889 | -22.8% |
| Amounts payable after more than one year | 17 | €1,367,373 | €998,804 | -€368,569 | -27.0% |
| Financial debts | 170/4 | €147,363 | - | -€147,363 | |
| Other amounts payable | 178/9 | €1,220,010 | €998,804 | -€221,206 | -18.1% |
| Amounts payable within one year | 42/48 | €671,870 | €568,949 | -€102,921 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €97,146 | €75,500 | -€21,646 | -22.3% |
| Trade debts | 44 | €324,996 | €265,505 | -€59,491 | -18.3% |
| Suppliers | 440/4 | €324,996 | €265,505 | -€59,491 | -18.3% |
| Taxes, remuneration and social security | 45 | €249,728 | €214,721 | -€35,007 | -14.0% |
| Taxes | 450/3 | €89,208 | €59,247 | -€29,962 | -33.6% |
| Remuneration and social security | 454/9 | €160,520 | €155,474 | -€5,045 | -3.1% |
| Other amounts payable | 47/48 | - | €13,223 | +€13,223 | |
| Accrued charges and deferred income | 492/3 | €67,136 | €58,737 | -€8,399 | -12.5% |
| Non-recurring operating income | 76A | €9,000 | €8,000 | -€1,000 | -11.1% |
| Remuneration, social security and pensions | 62 | €1,017,032 | €1,198,122 | +€181,090 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,788 | €180,992 | -€797 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €34,010 | +€34,010 | |
| Other operating charges | 640/8 | €6,571 | €14,106 | +€7,535 | +114.7% |
| Non-recurring operating charges | 66A | €26,415 | - | -€26,415 | |
| Gross operating margin | 9900 | €1,570,098 | €1,642,076 | +€71,978 | +4.6% |
| Operating profit (loss) | 9901 | €338,291 | €214,846 | -€123,445 | -36.5% |
| Financial income | 75/76B | €652 | €24,022 | +€23,369 | +3582.2% |
| Recurring financial income | 75 | €652 | €24,022 | +€23,369 | +3582.2% |
| Financial charges | 65/66B | €93,592 | €92,391 | -€1,201 | -1.3% |
| Recurring financial charges | 65 | €93,592 | €92,391 | -€1,201 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €245,351 | €146,476 | -€98,875 | -40.3% |
| Income taxes | 67/77 | €86,363 | €59,140 | -€27,223 | -31.5% |
| Profit (loss) for the period | 9904 | €158,988 | €87,336 | -€71,652 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €158,988 | €87,336 | -€71,652 | -45.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.