JAGA: 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.
What changed
JAGA
NACE 25.210, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€1.6m
2023 · €1.4m-€3.0m
Equity
€3.6m
2023 · €5.2m-€1.6m
Cash
€150,823
2023 · €1.4m-€1.2m
Balance sheet total
€23.8m
2023 · €24.1m-€268,495
Largest movements
Assets
- Tangible fixed assets +€1.8m
up €1.8m (+55.0%), from €3.2m to €4.9m
of which Land and buildings: +€1.3m
- Stocks and contracts -€1.5m
down €1.5m (-11.6%), from €12.9m to €11.4m
- Cash -€1.2m
down €1.2m (-88.9%), from €1.4m to €150,823
mainly Investment in fixed assets (net) (-€2.6m) and Net result for the year (-€1.6m)
- Receivables within one year +€939,846
up €939,846 (+27.5%), from €3.4m to €4.4m
of which Trade receivables: +€1.5m
Equity and liabilities
- Profit (loss) carried forward -€1.6m
down €1.6m, from €1.3m to -€258,548
- Short-term financial debts +€1.0m
up €1.0m (+30.6%), from €3.3m to €4.4m
of which Credit institutions: +€838,096
- Advances received -€1.0m
down €1.0m (-59.3%), from €1.7m to €700,478
- Debts after one year +€372,457
up €372,457 (+54.6%), from €682,563 to €1.1m
of which Financial debts: +€372,457
- Trade debts +€340,779
up €340,779 (+4.5%), from €7.6m to €8.0m
Income statement
- Staff costs +€1.4m
up €1.4m (+7.3%), from €19.1m to €20.5m
- Services and other goods +€1.1m
up €1.1m (+10.3%), from €10.5m to €11.6m
- Write-downs +€974,334
up €974,334 (+1285.3%), from €75,806 to €1.1m
- Goods and materials -€894,032
down €894,032 (-3.2%), from €28.0m to €27.1m
of which Purchases: -€999,574
From the 2023 result to the 2024 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.
Result 2023
€1.4m
Turnover
+€371,473
Other operating income
+€292,023
Goods and materials
+€894,032
Services and other goods
-€1.1m
Staff costs
-€1.4m
Depreciation
-€191,108
Write-downs
-€974,334
Provisions
-€92,182
Other operating charges
-€31,259
Other operating items
-€950,260
Financial income
-€298,180
Financial charges
+€280,459
Taxes
+€220,670
Result 2024
-€1.6m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€57,932
Investment
-€2.6m
Financing
+€1.5m
Cash 2023
€1.4m
From operations (derived)
-€57,932
Net result for the year
-€1.6m
Depreciation
+€1.0m
Receivables after one year
+€5,000
Stocks and contracts
+€1.5m
Receivables within one year
-€939,846
Deferred charges and accrued income
+€90,336
Provisions
+€60,626
Trade debts
+€340,779
Tax, wage and social debts
+€264,768
Advances received
-€1.0m
Other debts
+€225,771
Accrued charges and deferred income
-€18,763
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Financing
+€1.5m
Debts after one year
+€372,457
Current portion of long-term debt
+€80,038
Short-term financial debts
+€1.0m
Cash 2024
€150,823
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,093,937 | €23,825,442 | -€268,495 | -1.1% |
| Fixed assets | 21/28 | €3,726,624 | €5,311,663 | +€1.6m | +42.5% |
| Intangible fixed assets | 21 | €528,227 | €358,004 | -€170,224 | -32.2% |
| Tangible fixed assets | 22/27 | €3,189,759 | €4,944,998 | +€1.8m | +55.0% |
| Land and buildings | 22 | €1,382,382 | €2,700,511 | +€1.3m | +95.4% |
| Plant, machinery and equipment | 23 | €744,677 | €680,305 | -€64,372 | -8.6% |
| Furniture and vehicles | 24 | €352,794 | €310,030 | -€42,765 | -12.1% |
| Leasing and similar rights | 25 | €571,871 | €1,009,346 | +€437,475 | +76.5% |
| Other tangible fixed assets | 26 | €138,034 | €93,577 | -€44,458 | -32.2% |
| Assets under construction and advance payments | 27 | - | €151,229 | +€151,229 | |
| Financial fixed assets | 28 | €8,638 | €8,661 | +€23 | +0.3% |
| Affiliated companies | 280/1 | €1,374 | €1,374 | = | 0.0% |
| Participating interests | 280 | €1,374 | €1,374 | = | 0.0% |
| Other financial fixed assets | 284/8 | €7,264 | €7,288 | +€23 | +0.3% |
| Amounts receivable and cash guarantees | 285/8 | €7,264 | €7,288 | +€23 | +0.3% |
| Current assets | 29/58 | €20,367,312 | €18,513,779 | -€1.9m | -9.1% |
| Amounts receivable after more than one year | 29 | €2,013,334 | €2,008,334 | -€5,000 | -0.2% |
| Other amounts receivable | 291 | €2,013,334 | €2,008,334 | -€5,000 | -0.2% |
| Stocks and contracts in progress | 3 | €12,921,760 | €11,428,647 | -€1.5m | -11.6% |
| Stocks | 30/36 | €12,921,760 | €11,428,647 | -€1.5m | -11.6% |
| Raw materials and consumables | 30/31 | €7,620,267 | €6,656,225 | -€964,043 | -12.7% |
| Work in progress | 32 | €1,796,927 | €1,688,444 | -€108,483 | -6.0% |
| Finished goods | 33 | €2,098,961 | €2,164,351 | +€65,390 | +3.1% |
| Goods purchased for resale | 34 | €1,405,605 | €919,627 | -€485,978 | -34.6% |
| Amounts receivable within one year | 40/41 | €3,415,909 | €4,355,755 | +€939,846 | +27.5% |
| Trade receivables | 40 | €2,611,207 | €4,067,886 | +€1.5m | +55.8% |
| Other amounts receivable | 41 | €804,702 | €287,869 | -€516,833 | -64.2% |
| Cash at bank and in hand | 54/58 | €1,355,754 | €150,823 | -€1.2m | -88.9% |
| Deferred charges and accrued income | 490/1 | €660,555 | €570,220 | -€90,336 | -13.7% |
| Total equity and liabilities | 10/49 | €24,093,937 | €23,825,442 | -€268,495 | -1.1% |
| Equity | 10/15 | €5,242,358 | €3,645,425 | -€1.6m | -30.5% |
| Contributions | 10/11 | €3,200,000 | €3,200,000 | = | 0.0% |
| Capital | 10 | €3,200,000 | €3,200,000 | = | 0.0% |
| Issued capital | 100 | €3,200,000 | €3,200,000 | = | 0.0% |
| Reserves | 13 | €703,973 | €703,973 | = | 0.0% |
| Non-distributable reserves | 130/1 | €320,000 | €320,000 | = | 0.0% |
| Legal reserve | 130 | €320,000 | €320,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €192,477 | €192,477 | = | 0.0% |
| Distributable reserves | 133 | €191,496 | €191,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,338,385 | -€258,548 | -€1.6m | |
| Provisions and deferred taxes | 16 | €110,058 | €170,684 | +€60,626 | +55.1% |
| Provisions for liabilities and charges | 160/5 | €110,058 | €170,684 | +€60,626 | +55.1% |
| Pensions and similar obligations | 160 | €41,740 | €60,075 | +€18,335 | +43.9% |
| Other liabilities and charges | 164/5 | €68,318 | €110,608 | +€42,291 | +61.9% |
| Amounts payable | 17/49 | €18,741,521 | €20,009,333 | +€1.3m | +6.8% |
| Amounts payable after more than one year | 17 | €682,563 | €1,055,020 | +€372,457 | +54.6% |
| Financial debts | 170/4 | €417,063 | €789,520 | +€372,457 | +89.3% |
| Leasing and similar obligations | 172 | €391,440 | €769,749 | +€378,310 | +96.6% |
| Other loans | 174 | €25,623 | €19,771 | -€5,853 | -22.8% |
| Other amounts payable | 178/9 | €265,500 | €265,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,352,972 | €17,267,090 | +€914,118 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €172,486 | €252,524 | +€80,038 | +46.4% |
| Financial debts | 43 | €3,342,901 | €4,365,403 | +€1.0m | +30.6% |
| Credit institutions | 430/8 | €2,000,000 | €2,838,096 | +€838,096 | +41.9% |
| Other loans | 439 | €1,342,901 | €1,527,307 | +€184,406 | +13.7% |
| Trade debts | 44 | €7,609,622 | €7,950,401 | +€340,779 | +4.5% |
| Suppliers | 440/4 | €7,609,622 | €7,950,401 | +€340,779 | +4.5% |
| Advances received on contracts in progress | 46 | €1,720,217 | €700,478 | -€1.0m | -59.3% |
| Taxes, remuneration and social security | 45 | €3,406,466 | €3,671,234 | +€264,768 | +7.8% |
| Taxes | 450/3 | €787,724 | €694,765 | -€92,960 | -11.8% |
| Remuneration and social security | 454/9 | €2,618,742 | €2,976,470 | +€357,728 | +13.7% |
| Other amounts payable | 47/48 | €101,279 | €327,050 | +€225,771 | +222.9% |
| Accrued charges and deferred income | 492/3 | €1,705,986 | €1,687,223 | -€18,763 | -1.1% |
| Operating income | 70/76A | €61,041,061 | €60,770,347 | -€270,714 | -0.4% |
| Turnover | 70 | €56,808,108 | €57,179,581 | +€371,473 | +0.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€109,535 | -€4,525 | +€105,010 | +95.9% |
| Other operating income | 74 | €3,258,641 | €3,550,664 | +€292,023 | +9.0% |
| Non-recurring operating income | 76A | €1,083,847 | €44,628 | -€1.0m | -95.9% |
| Operating charges | 60/66A | €58,809,147 | €61,702,010 | +€2.9m | +4.9% |
| Goods for resale, raw materials and consumables | 60 | €28,040,993 | €27,146,960 | -€894,032 | -3.2% |
| Purchases | 600/8 | €27,753,483 | €26,753,910 | -€999,574 | -3.6% |
| Change in stocks: decrease (increase) | 609 | €287,510 | €393,051 | +€105,541 | +36.7% |
| Services and other goods | 61 | €10,548,720 | €11,632,642 | +€1.1m | +10.3% |
| Remuneration, social security and pensions | 62 | €19,113,836 | €20,511,877 | +€1.4m | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €845,849 | €1,036,957 | +€191,108 | +22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €75,806 | €1,050,140 | +€974,334 | +1285.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€31,555 | €60,626 | +€92,182 | |
| Other operating charges | 640/8 | €206,930 | €238,189 | +€31,259 | +15.1% |
| Non-recurring operating charges | 66A | €8,568 | €24,618 | +€16,050 | +187.3% |
| Operating profit (loss) | 9901 | €2,231,914 | -€931,663 | -€3.2m | |
| Financial income | 75/76B | €462,303 | €164,123 | -€298,180 | -64.5% |
| Recurring financial income | 75 | €462,303 | €164,123 | -€298,180 | -64.5% |
| Income from current assets | 751 | €14,488 | €7,088 | -€7,400 | -51.1% |
| Other financial income | 752/9 | €447,815 | €157,035 | -€290,780 | -64.9% |
| Financial charges | 65/66B | €1,141,827 | €861,368 | -€280,459 | -24.6% |
| Recurring financial charges | 65 | €1,141,827 | €861,368 | -€280,459 | -24.6% |
| Debt charges | 650 | €368,181 | €312,948 | -€55,233 | -15.0% |
| Other financial charges | 652/9 | €773,646 | €548,420 | -€225,226 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €1,552,389 | -€1,628,909 | -€3.2m | |
| Income taxes | 67/77 | €188,695 | -€31,976 | -€220,670 | |
| Taxes | 670/3 | €192,526 | €2,011 | -€190,515 | -99.0% |
| Tax adjustments and reversals of tax provisions | 77 | €3,832 | €33,987 | +€30,155 | +787.0% |
| Profit (loss) for the period | 9904 | €1,363,695 | -€1,596,933 | -€3.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,363,695 | -€1,596,933 | -€3.0m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.