JAFRAX: 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.
JAFRAX
Largest movements
- Cash +€537,556
up €537,556 (+163%), from €329,106 to €866,662
mainly Net result for the year (+€1.1m) and Other debts (+€450,000)
- Other debts +€450,000
new in 2025: €450,000
- Reserves +€316,805
up €316,805 (+12.5%), from €2.5m to €2.9m
- Debts after one year -€234,459
down €234,459 (-47.5%), from €493,875 to €259,416
- Financial income +€475,865
up €475,865 (+78.3%), from €607,626 to €1.1m
- Financial charges -€4,613
down €4,613 (-26.9%), from €17,159 to €12,546
- Depreciation -€204
down €204 (-38.6%), from €528 to €324
- Gross operating margin -€138
down €138 (-5.4%), from -€2,559 to -€2,697
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 | €4,009,430 | €4,546,662 | +€537,231 | +13.4% |
| Fixed assets | 21/28 | €3,680,324 | €3,680,000 | -€324 | 0.0% |
| Tangible fixed assets | 22/27 | €324 | - | -€324 | |
| Furniture and vehicles | 24 | €324 | - | -€324 | |
| Financial fixed assets | 28 | €3,680,000 | €3,680,000 | = | 0.0% |
| Current assets | 29/58 | €329,106 | €866,662 | +€537,556 | +163% |
| Cash at bank and in hand | 54/58 | €329,106 | €866,662 | +€537,556 | +163% |
| Total equity and liabilities | 10/49 | €4,009,430 | €4,546,662 | +€537,231 | +13.4% |
| Equity | 10/15 | €3,285,798 | €3,602,604 | +€316,805 | +9.6% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €2,535,798 | €2,852,604 | +€316,805 | +12.5% |
| Distributable reserves | 133 | €2,535,798 | €2,852,604 | +€316,805 | +12.5% |
| Amounts payable | 17/49 | €723,632 | €944,058 | +€220,426 | +30.5% |
| Amounts payable after more than one year | 17 | €493,875 | €259,416 | -€234,459 | -47.5% |
| Financial debts | 170/4 | €493,875 | €259,416 | -€234,459 | -47.5% |
| Amounts payable within one year | 42/48 | €229,757 | €684,642 | +€454,885 | +198% |
| Current portion of amounts payable after more than one year | 42 | €229,757 | €234,459 | +€4,703 | +2.0% |
| Trade debts | 44 | - | €183 | +€183 | |
| Suppliers | 440/4 | - | €183 | +€183 | |
| Other amounts payable | 47/48 | - | €450,000 | +€450,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €528 | €324 | -€204 | -38.6% |
| Other operating charges | 640/8 | €1,095 | €1,118 | +€23 | +2.1% |
| Gross operating margin | 9900 | -€2,559 | -€2,697 | -€138 | -5.4% |
| Operating profit (loss) | 9901 | -€4,183 | -€4,140 | +€43 | +1.0% |
| Financial income | 75/76B | €607,626 | €1,083,491 | +€475,865 | +78.3% |
| Recurring financial income | 75 | €607,626 | €1,083,491 | +€475,865 | +78.3% |
| Financial charges | 65/66B | €17,159 | €12,546 | -€4,613 | -26.9% |
| Recurring financial charges | 65 | €17,159 | €12,546 | -€4,613 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €586,284 | €1,066,805 | +€480,521 | +82.0% |
| Profit (loss) for the period | 9904 | €586,284 | €1,066,805 | +€480,521 | +82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €586,284 | €1,066,805 | +€480,521 | +82.0% |
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 14 October 2026 via checked.be.