JAG: 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.
JAG
Largest movements
- Receivables within one year -€17,011
down €17,011 (-24.2%), from €70,277 to €53,267
- Tangible fixed assets -€8,405
down €8,405 (-10.1%), from €83,362 to €74,957
of which Furniture and vehicles: -€5,033
- Cash -€4,731
down €4,731 (-38.2%), from €12,400 to €7,669
mainly Investment in fixed assets (net) (-€34,445) and Other debts (-€32,359)
- Stocks and contracts +€2,761
up €2,761 (+15.9%), from €17,358 to €20,119
- Deferred charges and accrued income +€2,477
up €2,477 (+57.2%), from €4,330 to €6,807
- Other debts -€32,359
down €32,359 (-90.7%), from €35,658 to €3,299
- Current portion of long-term debt -€9,839
down €9,839 (-29.4%), from €33,490 to €23,652
- Trade debts +€9,506
up €9,506 (+46.5%), from €20,436 to €29,942
- Profit (loss) carried forward +€7,755
up €7,755, from -€3,003 to €4,752
- Tax, wage and social debts -€4,346
down €4,346 (-9.0%), from €48,364 to €44,018
of which Taxes: -€3,100
- Gross operating margin -€12,291
down €12,291 (-4.1%), from €299,134 to €286,843
- Taxes -€4,672
down €4,672 (-62.4%), from €7,488 to €2,816
- Other operating charges -€3,687
down €3,687 (-43.1%), from €8,560 to €4,873
- Depreciation +€3,022
up €3,022 (+7.6%), from €39,827 to €42,849
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 | €187,728 | €162,819 | -€24,909 | -13.3% |
| Fixed assets | 21/28 | €83,362 | €74,957 | -€8,405 | -10.1% |
| Tangible fixed assets | 22/27 | €83,362 | €74,957 | -€8,405 | -10.1% |
| Furniture and vehicles | 24 | €76,116 | €71,083 | -€5,033 | -6.6% |
| Other tangible fixed assets | 26 | €7,245 | €3,874 | -€3,371 | -46.5% |
| Current assets | 29/58 | €104,366 | €87,862 | -€16,505 | -15.8% |
| Stocks and contracts in progress | 3 | €17,358 | €20,119 | +€2,761 | +15.9% |
| Stocks | 30/36 | €17,358 | €20,119 | +€2,761 | +15.9% |
| Amounts receivable within one year | 40/41 | €70,277 | €53,267 | -€17,011 | -24.2% |
| Trade receivables | 40 | €70,277 | €53,267 | -€17,011 | -24.2% |
| Cash at bank and in hand | 54/58 | €12,400 | €7,669 | -€4,731 | -38.2% |
| Deferred charges and accrued income | 490/1 | €4,330 | €6,807 | +€2,477 | +57.2% |
| Total equity and liabilities | 10/49 | €187,728 | €162,819 | -€24,909 | -13.3% |
| Equity | 10/15 | €15,597 | €23,352 | +€7,755 | +49.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,003 | €4,752 | +€7,755 | |
| Amounts payable | 17/49 | €172,131 | €139,467 | -€32,664 | -19.0% |
| Amounts payable after more than one year | 17 | €34,159 | €37,360 | +€3,201 | +9.4% |
| Financial debts | 170/4 | €34,159 | €37,360 | +€3,201 | +9.4% |
| Amounts payable within one year | 42/48 | €137,949 | €100,911 | -€37,038 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €33,490 | €23,652 | -€9,839 | -29.4% |
| Trade debts | 44 | €20,436 | €29,942 | +€9,506 | +46.5% |
| Suppliers | 440/4 | €20,436 | €29,942 | +€9,506 | +46.5% |
| Taxes, remuneration and social security | 45 | €48,364 | €44,018 | -€4,346 | -9.0% |
| Taxes | 450/3 | €21,365 | €18,265 | -€3,100 | -14.5% |
| Remuneration and social security | 454/9 | €26,999 | €25,753 | -€1,246 | -4.6% |
| Other amounts payable | 47/48 | €35,658 | €3,299 | -€32,359 | -90.7% |
| Accrued charges and deferred income | 492/3 | €23 | €1,196 | +€1,173 | +5126.2% |
| Remuneration, social security and pensions | 62 | €223,450 | €226,072 | +€2,622 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,827 | €42,849 | +€3,022 | +7.6% |
| Other operating charges | 640/8 | €8,560 | €4,873 | -€3,687 | -43.1% |
| Gross operating margin | 9900 | €299,134 | €286,843 | -€12,291 | -4.1% |
| Operating profit (loss) | 9901 | €27,297 | €13,048 | -€14,249 | -52.2% |
| Financial income | 75/76B | €1 | €475 | +€474 | +34591.2% |
| Recurring financial income | 75 | €1 | €475 | +€474 | +34591.2% |
| Financial charges | 65/66B | €3,576 | €2,952 | -€624 | -17.5% |
| Recurring financial charges | 65 | €3,576 | €2,952 | -€624 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €23,722 | €10,572 | -€13,151 | -55.4% |
| Income taxes | 67/77 | €7,488 | €2,816 | -€4,672 | -62.4% |
| Profit (loss) for the period | 9904 | €16,234 | €7,755 | -€8,479 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,234 | €7,755 | -€8,479 | -52.2% |
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 29 September 2026 via checked.be.