JAEK: 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.
JAEK
Largest movements
- Current investments +€150,495
up €150,495 (+62.9%), from €239,392 to €389,887
- Cash -€76,301
down €76,301 (-52.9%), from €144,255 to €67,954
mainly Current investments (-€150,495) and Tax, wage and social debts (-€23,715)
- Tangible fixed assets -€19,829
down €19,829 (-28.2%), from €70,285 to €50,456
- Profit (loss) carried forward +€40,000
up €40,000 (+17.1%), from €234,291 to €274,291
- Reserves +€39,904
up €39,904 (+20.9%), from €190,890 to €230,795
- Tax, wage and social debts -€23,715
down €23,715 (-64.9%), from €36,520 to €12,805
- Gross operating margin +€7,514
up €7,514 (+6.7%), from €112,563 to €120,078
- Taxes +€1,530
up €1,530 (+6.0%), from €25,512 to €27,042
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €483,143 | €539,085 | +€55,941 | +11.6% |
| Fixed assets | 21/28 | €70,285 | €50,456 | -€19,829 | -28.2% |
| Tangible fixed assets | 22/27 | €70,285 | €50,456 | -€19,829 | -28.2% |
| Furniture and vehicles | 24 | €70,285 | €50,456 | -€19,829 | -28.2% |
| Current assets | 29/58 | €412,859 | €488,629 | +€75,770 | +18.4% |
| Amounts receivable within one year | 40/41 | €25,139 | €25,630 | +€491 | +2.0% |
| Trade receivables | 40 | €25,083 | €25,083 | = | 0.0% |
| Other amounts receivable | 41 | €55 | €546 | +€491 | +889% |
| Current investments | 50/53 | €239,392 | €389,887 | +€150,495 | +62.9% |
| Cash at bank and in hand | 54/58 | €144,255 | €67,954 | -€76,301 | -52.9% |
| Deferred charges and accrued income | 490/1 | €4,073 | €5,158 | +€1,085 | +26.6% |
| Total equity and liabilities | 10/49 | €483,143 | €539,085 | +€55,941 | +11.6% |
| Equity | 10/15 | €445,182 | €525,086 | +€79,904 | +17.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €190,890 | €230,795 | +€39,904 | +20.9% |
| Distributable reserves | 133 | €190,890 | €230,795 | +€39,904 | +20.9% |
| Profit (loss) carried forward | 14 | €234,291 | €274,291 | +€40,000 | +17.1% |
| Amounts payable | 17/49 | €37,962 | €13,999 | -€23,963 | -63.1% |
| Amounts payable within one year | 42/48 | €37,962 | €13,999 | -€23,963 | -63.1% |
| Trade debts | 44 | €1,442 | €1,194 | -€248 | -17.2% |
| Suppliers | 440/4 | €1,442 | €1,194 | -€248 | -17.2% |
| Taxes, remuneration and social security | 45 | €36,520 | €12,805 | -€23,715 | -64.9% |
| Taxes | 450/3 | €36,520 | €12,805 | -€23,715 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,166 | €19,829 | +€663 | +3.5% |
| Other operating charges | 640/8 | €743 | €685 | -€58 | -7.8% |
| Gross operating margin | 9900 | €112,563 | €120,078 | +€7,514 | +6.7% |
| Operating profit (loss) | 9901 | €92,654 | €99,563 | +€6,910 | +7.5% |
| Financial income | 75/76B | €7,626 | €8,188 | +€562 | +7.4% |
| Recurring financial income | 75 | €7,626 | €8,188 | +€562 | +7.4% |
| Financial charges | 65/66B | €109 | €806 | +€696 | +638% |
| Recurring financial charges | 65 | €109 | €806 | +€696 | +638% |
| Profit (loss) for the period before taxes | 9903 | €100,170 | €106,946 | +€6,775 | +6.8% |
| Income taxes | 67/77 | €25,512 | €27,042 | +€1,530 | +6.0% |
| Profit (loss) for the period | 9904 | €74,658 | €79,904 | +€5,246 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,658 | €79,904 | +€5,246 | +7.0% |
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 16 October 2026 via checked.be.