JAG Management: 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 Management
Largest movements
- Cash +€42,413
up €42,413 (+93.8%), from €45,199 to €87,611
mainly Other debts (+€80,958) and Net result for the year (+€55,459)
- Receivables within one year -€16,764
down €16,764 (-39.4%), from €42,532 to €25,769
of which Trade receivables: -€20,467
- Tangible fixed assets +€4,218
up €4,218 (+201.3%), from €2,095 to €6,313
- Other debts +€80,958
up €80,958 (+752.8%), from €10,754 to €91,712
- Profit (loss) carried forward -€40,666
down €40,666 (-100.0%), from €40,666 to €0
- Trade debts -€10,646
no longer reported in 2025 (was €10,646)
- Gross operating margin +€21,625
up €21,625 (+43.0%), from €50,343 to €71,969
- Taxes +€6,847
up €6,847 (+90.0%), from €7,608 to €14,455
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 | €89,826 | €119,693 | +€29,867 | +33.2% |
| Fixed assets | 21/28 | €2,095 | €6,313 | +€4,218 | +201.3% |
| Tangible fixed assets | 22/27 | €2,095 | €6,313 | +€4,218 | +201.3% |
| Furniture and vehicles | 24 | €2,095 | €6,313 | +€4,218 | +201.3% |
| Current assets | 29/58 | €87,731 | €113,380 | +€25,649 | +29.2% |
| Amounts receivable within one year | 40/41 | €42,532 | €25,769 | -€16,764 | -39.4% |
| Trade receivables | 40 | €35,140 | €14,673 | -€20,467 | -58.2% |
| Other amounts receivable | 41 | €7,392 | €11,095 | +€3,704 | +50.1% |
| Cash at bank and in hand | 54/58 | €45,199 | €87,611 | +€42,413 | +93.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €89,826 | €119,693 | +€29,867 | +33.2% |
| Equity | 10/15 | €46,666 | €6,000 | -€40,666 | -87.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,666 | €0 | -€40,666 | -100.0% |
| Amounts payable | 17/49 | €43,160 | €113,693 | +€70,533 | +163.4% |
| Amounts payable within one year | 42/48 | €43,160 | €113,693 | +€70,533 | +163.4% |
| Trade debts | 44 | €10,646 | - | -€10,646 | |
| Suppliers | 440/4 | €10,646 | - | -€10,646 | |
| Taxes, remuneration and social security | 45 | €21,760 | €21,981 | +€221 | +1.0% |
| Taxes | 450/3 | €8,435 | €21,981 | +€13,547 | +160.6% |
| Remuneration and social security | 454/9 | €13,325 | €0 | -€13,325 | -100.0% |
| Other amounts payable | 47/48 | €10,754 | €91,712 | +€80,958 | +752.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563 | €644 | +€81 | +14.4% |
| Other operating charges | 640/8 | €150 | €317 | +€167 | +111.6% |
| Gross operating margin | 9900 | €50,343 | €71,969 | +€21,625 | +43.0% |
| Operating profit (loss) | 9901 | €49,631 | €71,008 | +€21,377 | +43.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,401 | €1,096 | -€305 | -21.8% |
| Recurring financial charges | 65 | €1,401 | €1,096 | -€305 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €48,229 | €69,914 | +€21,685 | +45.0% |
| Income taxes | 67/77 | €7,608 | €14,455 | +€6,847 | +90.0% |
| Profit (loss) for the period | 9904 | €40,621 | €55,459 | +€14,838 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,621 | €55,459 | +€14,838 | +36.5% |
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 10 October 2026 via checked.be.