JAFOR: 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.
JAFOR
Largest movements
- Receivables within one year +€38,977
up €38,977 (+31.2%), from €124,967 to €163,943
of which Other amounts receivable: +€148,927
- Cash -€31,555
down €31,555 (-97.5%), from €32,352 to €798
mainly Trade debts (-€63,173) and Receivables within one year (-€38,977)
- Intangible fixed assets -€2,597
down €2,597 (-36.0%), from €7,208 to €4,611
- Profit (loss) carried forward +€71,630
up €71,630 (+1,063%), from €6,739 to €78,369
- Trade debts -€63,173
down €63,173 (-60.0%), from €105,316 to €42,143
- Tax, wage and social debts -€2,258
down €2,258 (-6.9%), from €32,847 to €30,589
- Gross operating margin +€47,580
up €47,580 (+83.7%), from €56,817 to €104,396
- Staff costs -€33,960
no longer reported in 2025 (was €33,960)
- Taxes +€21,385
up €21,385 (+469%), from €4,561 to €25,946
- Other operating charges -€11,079
down €11,079 (-92.9%), from €11,926 to €847
- Depreciation -€2,528
down €2,528 (-47.0%), from €5,380 to €2,851
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 | €167,480 | €172,967 | +€5,487 | +3.3% |
| Fixed assets | 21/28 | €7,208 | €5,628 | -€1,580 | -21.9% |
| Intangible fixed assets | 21 | €7,208 | €4,611 | -€2,597 | -36.0% |
| Tangible fixed assets | 22/27 | - | €1,018 | +€1,018 | |
| Plant, machinery and equipment | 23 | - | €1,018 | +€1,018 | |
| Current assets | 29/58 | €160,273 | €167,339 | +€7,067 | +4.4% |
| Stocks and contracts in progress | 3 | €2,598 | €2,598 | = | 0.0% |
| Stocks | 30/36 | €2,598 | €2,598 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €124,967 | €163,943 | +€38,977 | +31.2% |
| Trade receivables | 40 | €124,962 | €15,011 | -€109,951 | -88.0% |
| Other amounts receivable | 41 | €4 | €148,932 | +€148,927 | +3,346,684% |
| Cash at bank and in hand | 54/58 | €32,352 | €798 | -€31,555 | -97.5% |
| Deferred charges and accrued income | 490/1 | €356 | €0 | -€356 | -100% |
| Total equity and liabilities | 10/49 | €167,480 | €172,967 | +€5,487 | +3.3% |
| Equity | 10/15 | €28,001 | €99,632 | +€71,630 | +256% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,263 | €1,263 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,263 | €1,263 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,263 | €1,263 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,739 | €78,369 | +€71,630 | +1,063% |
| Amounts payable | 17/49 | €139,479 | €73,336 | -€66,143 | -47.4% |
| Amounts payable within one year | 42/48 | €138,950 | €72,732 | -€66,218 | -47.7% |
| Trade debts | 44 | €105,316 | €42,143 | -€63,173 | -60.0% |
| Suppliers | 440/4 | €105,316 | €42,143 | -€63,173 | -60.0% |
| Taxes, remuneration and social security | 45 | €32,847 | €30,589 | -€2,258 | -6.9% |
| Taxes | 450/3 | €32,847 | €30,589 | -€2,258 | -6.9% |
| Other amounts payable | 47/48 | €787 | - | -€787 | |
| Accrued charges and deferred income | 492/3 | €529 | €604 | +€75 | +14.2% |
| Remuneration, social security and pensions | 62 | €33,960 | - | -€33,960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,380 | €2,851 | -€2,528 | -47.0% |
| Other operating charges | 640/8 | €11,926 | €847 | -€11,079 | -92.9% |
| Gross operating margin | 9900 | €56,817 | €104,396 | +€47,580 | +83.7% |
| Operating profit (loss) | 9901 | €5,551 | €100,698 | +€95,147 | +1,714% |
| Financial income | 75/76B | €12 | €42 | +€30 | +255% |
| Recurring financial income | 75 | €12 | €42 | +€30 | +255% |
| Financial charges | 65/66B | €2,124 | €3,164 | +€1,040 | +49.0% |
| Recurring financial charges | 65 | €2,124 | €3,164 | +€1,040 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €3,439 | €97,576 | +€94,137 | +2,737% |
| Income taxes | 67/77 | €4,561 | €25,946 | +€21,385 | +469% |
| Profit (loss) for the period | 9904 | -€1,122 | €71,630 | +€72,752 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,122 | €71,630 | +€72,752 |
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 14 October 2026 via checked.be.