JAG Holding: 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.
JAG Holding
Largest movements
- Cash +€235,727
up €235,727 (+432%), from €54,620 to €290,348
mainly Net result for the year (+€209,714) and Depreciation (+€50,743)
- Tangible fixed assets -€50,743
down €50,743 (-12.1%), from €417,726 to €366,983
of which Land and buildings: -€35,280
- Reserves +€209,714
up €209,714 (+35.6%), from €589,108 to €798,822
- Debts after one year -€42,269
down €42,269 (-25.3%), from €166,992 to €124,723
- Tax, wage and social debts +€22,505
up €22,505 (+613%), from €3,673 to €26,178
- Gross operating margin +€221,964
up €221,964 (+244%), from €90,976 to €312,940
- Taxes +€47,962
up €47,962, from -€12,615 to €35,347
- Depreciation -€5,846
down €5,846 (-10.3%), from €56,589 to €50,743
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 | €856,362 | €1,036,160 | +€179,799 | +21.0% |
| Fixed assets | 21/28 | €796,556 | €745,813 | -€50,743 | -6.4% |
| Tangible fixed assets | 22/27 | €417,726 | €366,983 | -€50,743 | -12.1% |
| Land and buildings | 22 | €388,320 | €353,040 | -€35,280 | -9.1% |
| Plant, machinery and equipment | 23 | €4,361 | €770 | -€3,591 | -82.3% |
| Furniture and vehicles | 24 | €25,045 | €13,173 | -€11,872 | -47.4% |
| Financial fixed assets | 28 | €378,830 | €378,830 | = | 0.0% |
| Current assets | 29/58 | €59,806 | €290,348 | +€230,542 | +385% |
| Amounts receivable within one year | 40/41 | €5,186 | - | -€5,186 | |
| Other amounts receivable | 41 | €5,186 | - | -€5,186 | |
| Cash at bank and in hand | 54/58 | €54,620 | €290,348 | +€235,727 | +432% |
| Total equity and liabilities | 10/49 | €856,362 | €1,036,160 | +€179,799 | +21.0% |
| Equity | 10/15 | €609,108 | €818,822 | +€209,714 | +34.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €589,108 | €798,822 | +€209,714 | +35.6% |
| Distributable reserves | 133 | €589,108 | €798,822 | +€209,714 | +35.6% |
| Amounts payable | 17/49 | €247,254 | €217,338 | -€29,916 | -12.1% |
| Amounts payable after more than one year | 17 | €166,992 | €124,723 | -€42,269 | -25.3% |
| Financial debts | 170/4 | €166,992 | €124,723 | -€42,269 | -25.3% |
| Amounts payable within one year | 42/48 | €70,262 | €92,616 | +€22,354 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €40,841 | €42,269 | +€1,428 | +3.5% |
| Trade debts | 44 | €2,575 | €76 | -€2,499 | -97.1% |
| Suppliers | 440/4 | €2,575 | €76 | -€2,499 | -97.1% |
| Taxes, remuneration and social security | 45 | €3,673 | €26,178 | +€22,505 | +613% |
| Taxes | 450/3 | €3,673 | €26,178 | +€22,505 | +613% |
| Other amounts payable | 47/48 | €23,173 | €24,093 | +€920 | +4.0% |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,589 | €50,743 | -€5,846 | -10.3% |
| Other operating charges | 640/8 | €10,678 | €9,229 | -€1,449 | -13.6% |
| Gross operating margin | 9900 | €90,976 | €312,940 | +€221,964 | +244% |
| Operating profit (loss) | 9901 | €23,709 | €252,968 | +€229,259 | +967% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,281 | €7,906 | -€1,375 | -14.8% |
| Recurring financial charges | 65 | €9,281 | €7,906 | -€1,375 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €14,428 | €245,061 | +€230,633 | +1,599% |
| Income taxes | 67/77 | -€12,615 | €35,347 | +€47,962 | |
| Profit (loss) for the period | 9904 | €27,043 | €209,714 | +€182,672 | +675% |
| Profit (loss) for the period to be appropriated | 9905 | €27,043 | €209,714 | +€182,672 | +675% |
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 23 October 2026 via checked.be.