JAG1: 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.
JAG1
Largest movements
- Receivables within one year +€106,672
up €106,672 (+40.4%), from €264,124 to €370,797
- Stocks and contracts +€97,806
up €97,806 (+11.4%), from €860,423 to €958,229
- Tangible fixed assets -€52,675
down €52,675 (-3.0%), from €1.8m to €1.7m
- Reserves +€161,472
new in 2025: €161,472
- Other debts +€92,508
up €92,508 (+25.2%), from €367,752 to €460,260
- Profit (loss) carried forward -€88,345
no longer reported in 2025 (was €88,345)
- Financial charges -€26,700
down €26,700 (-28.1%), from €94,873 to €68,173
- Taxes +€22,856
up €22,856 (+97.3%), from €23,492 to €46,349
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 | €2,915,150 | €3,075,760 | +€160,610 | +5.5% |
| Fixed assets | 21/28 | €1,781,949 | €1,729,275 | -€52,675 | -3.0% |
| Tangible fixed assets | 22/27 | €1,781,949 | €1,729,275 | -€52,675 | -3.0% |
| Land and buildings | 22 | €1,781,949 | €1,729,275 | -€52,675 | -3.0% |
| Current assets | 29/58 | €1,133,200 | €1,346,485 | +€213,285 | +18.8% |
| Stocks and contracts in progress | 3 | €860,423 | €958,229 | +€97,806 | +11.4% |
| Stocks | 30/36 | €860,423 | €958,229 | +€97,806 | +11.4% |
| Amounts receivable within one year | 40/41 | €264,124 | €370,797 | +€106,672 | +40.4% |
| Other amounts receivable | 41 | €264,124 | €370,797 | +€106,672 | +40.4% |
| Cash at bank and in hand | 54/58 | €4,928 | €17,460 | +€12,532 | +254.3% |
| Deferred charges and accrued income | 490/1 | €3,725 | - | -€3,725 | |
| Total equity and liabilities | 10/49 | €2,915,150 | €3,075,760 | +€160,610 | +5.5% |
| Equity | 10/15 | €179,545 | €252,672 | +€73,127 | +40.7% |
| Contributions | 10/11 | €91,200 | €91,200 | = | 0.0% |
| Reserves | 13 | - | €161,472 | +€161,472 | |
| Distributable reserves | 133 | - | €161,472 | +€161,472 | |
| Profit (loss) carried forward | 14 | €88,345 | - | -€88,345 | |
| Amounts payable | 17/49 | €2,735,605 | €2,823,087 | +€87,483 | +3.2% |
| Amounts payable after more than one year | 17 | €1,674,361 | €1,650,564 | -€23,797 | -1.4% |
| Financial debts | 170/4 | €1,674,361 | €1,650,564 | -€23,797 | -1.4% |
| Amounts payable within one year | 42/48 | €1,048,424 | €1,166,544 | +€118,120 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €91,297 | €91,297 | = | 0.0% |
| Financial debts | 43 | €587,500 | €587,500 | = | 0.0% |
| Credit institutions | 430/8 | €587,500 | €587,500 | = | 0.0% |
| Trade debts | 44 | €1,875 | €1,254 | -€621 | -33.1% |
| Suppliers | 440/4 | €1,875 | €1,254 | -€621 | -33.1% |
| Taxes, remuneration and social security | 45 | - | €26,232 | +€26,232 | |
| Taxes | 450/3 | - | €26,232 | +€26,232 | |
| Other amounts payable | 47/48 | €367,752 | €460,260 | +€92,508 | +25.2% |
| Accrued charges and deferred income | 492/3 | €12,819 | €5,979 | -€6,840 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,675 | €52,675 | = | 0.0% |
| Other operating charges | 640/8 | €14,349 | €14,864 | +€515 | +3.6% |
| Gross operating margin | 9900 | €256,793 | €255,187 | -€1,605 | -0.6% |
| Operating profit (loss) | 9901 | €189,769 | €187,649 | -€2,120 | -1.1% |
| Financial income | 75/76B | €3 | €0 | -€3 | -96.9% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -96.9% |
| Financial charges | 65/66B | €94,873 | €68,173 | -€26,700 | -28.1% |
| Recurring financial charges | 65 | €94,873 | €68,173 | -€26,700 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €94,899 | €119,476 | +€24,577 | +25.9% |
| Income taxes | 67/77 | €23,492 | €46,349 | +€22,856 | +97.3% |
| Profit (loss) for the period | 9904 | €71,406 | €73,127 | +€1,721 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,406 | €73,127 | +€1,721 | +2.4% |
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 7 October 2026 via checked.be.