JADO: 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.
JADO
Largest movements
- Receivables within one year -€597,936
down €597,936 (-76.4%), from €782,599 to €184,663
of which Other amounts receivable: -€628,812
- Cash -€276,954
down €276,954 (-91.6%), from €302,251 to €25,297
mainly Other debts (-€622,716) and Investment in fixed assets (net) (-€192,439)
- Tangible fixed assets +€116,011
up €116,011 (+31.0%), from €374,230 to €490,241
of which Furniture and vehicles: +€138,642
- Stocks and contracts -€41,474
down €41,474 (-9.7%), from €428,797 to €387,322
- Deferred charges and accrued income -€35,138
down €35,138 (-86.3%), from €40,722 to €5,584
- Other debts -€622,716
down €622,716 (-53.1%), from €1.2m to €550,856
- Reserves -€100,792
down €100,792 (-20.4%), from €493,186 to €392,394
of which Distributable reserves: -€100,792
- Accrued charges and deferred income -€85,300
down €85,300 (-96.5%), from €88,365 to €3,064
- Gross operating margin -€64,349
down €64,349 (-75.0%), from €85,754 to €21,405
- Depreciation +€23,247
up €23,247 (+43.7%), from €53,181 to €76,428
- Other operating charges +€18,441
up €18,441 (+111.8%), from €16,498 to €34,939
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 | €1,928,598 | €1,093,107 | -€835,491 | -43.3% |
| Fixed assets | 21/28 | €374,230 | €490,241 | +€116,011 | +31.0% |
| Tangible fixed assets | 22/27 | €374,230 | €490,241 | +€116,011 | +31.0% |
| Land and buildings | 22 | €354,518 | €333,257 | -€21,261 | -6.0% |
| Plant, machinery and equipment | 23 | €2,569 | €1,199 | -€1,370 | -53.3% |
| Furniture and vehicles | 24 | €17,143 | €155,786 | +€138,642 | +808.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €1,554,368 | €602,866 | -€951,502 | -61.2% |
| Stocks and contracts in progress | 3 | €428,797 | €387,322 | -€41,474 | -9.7% |
| Stocks | 30/36 | €428,797 | €387,322 | -€41,474 | -9.7% |
| Amounts receivable within one year | 40/41 | €782,599 | €184,663 | -€597,936 | -76.4% |
| Trade receivables | 40 | €84,786 | €115,663 | +€30,877 | +36.4% |
| Other amounts receivable | 41 | €697,813 | €69,000 | -€628,812 | -90.1% |
| Cash at bank and in hand | 54/58 | €302,251 | €25,297 | -€276,954 | -91.6% |
| Deferred charges and accrued income | 490/1 | €40,722 | €5,584 | -€35,138 | -86.3% |
| Total equity and liabilities | 10/49 | €1,928,598 | €1,093,107 | -€835,491 | -43.3% |
| Equity | 10/15 | €617,242 | €516,394 | -€100,847 | -16.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €493,186 | €392,394 | -€100,792 | -20.4% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €480,791 | €379,999 | -€100,792 | -21.0% |
| Profit (loss) carried forward | 14 | €56 | - | -€56 | |
| Amounts payable | 17/49 | €1,311,357 | €576,713 | -€734,644 | -56.0% |
| Amounts payable within one year | 42/48 | €1,222,992 | €573,648 | -€649,344 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €21,720 | €7,970 | -€13,750 | -63.3% |
| Trade debts | 44 | €27,701 | €14,511 | -€13,189 | -47.6% |
| Suppliers | 440/4 | €27,701 | €14,511 | -€13,189 | -47.6% |
| Taxes, remuneration and social security | 45 | €0 | €311 | +€311 | |
| Taxes | 450/3 | €0 | €311 | +€311 | |
| Other amounts payable | 47/48 | €1,173,571 | €550,856 | -€622,716 | -53.1% |
| Accrued charges and deferred income | 492/3 | €88,365 | €3,064 | -€85,300 | -96.5% |
| Non-recurring operating income | 76A | €35,847 | - | -€35,847 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,181 | €76,428 | +€23,247 | +43.7% |
| Other operating charges | 640/8 | €16,498 | €34,939 | +€18,441 | +111.8% |
| Gross operating margin | 9900 | €85,754 | €21,405 | -€64,349 | -75.0% |
| Operating profit (loss) | 9901 | €16,075 | -€89,962 | -€106,037 | |
| Financial income | 75/76B | €12,483 | €13,166 | +€683 | +5.5% |
| Recurring financial income | 75 | €12,483 | €13,166 | +€683 | +5.5% |
| Financial charges | 65/66B | €23,767 | €24,052 | +€285 | +1.2% |
| Recurring financial charges | 65 | €23,767 | €24,052 | +€285 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €4,792 | -€100,847 | -€105,639 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €4,792 | -€100,847 | -€105,639 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,792 | -€100,847 | -€105,639 |
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 3 October 2026 via checked.be.