JAGENEAU: 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.
What changed
JAGENEAU
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€438,908
2024 · €385,675+€53,233
Equity
€2.8m
2024 · €2.6m+€123,048
Cash
€351,766
2024 · €375,978-€24,212
Balance sheet total
€3.6m
2024 · €3.1m+€536,946
Largest movements
Assets
- Tangible fixed assets +€272,263
up €272,263 (+55.6%), from €489,918 to €762,181
of which Land and buildings: +€265,865
- Stocks and contracts +€146,645
up €146,645 (+9.2%), from €1.6m to €1.7m
- Receivables within one year +€122,342
up €122,342 (+28.9%), from €423,017 to €545,359
of which Trade receivables: +€119,641
Equity and liabilities
- Debts after one year +€177,401
new in 2025: €177,401
- Reserves +€123,048
up €123,048 (+16.1%), from €764,302 to €887,349
of which Distributable reserves: +€123,048
- Other debts +€84,833
up €84,833 (+32.5%), from €261,028 to €345,860
- Trade debts +€75,167
up €75,167 (+135%), from €55,682 to €130,849
- Current portion of long-term debt +€50,035
new in 2025: €50,035
Income statement
- Write-downs -€79,124
down €79,124, from €36,890 to -€42,234
- Other operating charges +€20,121
up €20,121 (+125%), from €16,155 to €36,277
- Taxes -€18,181
down €18,181 (-25.5%), from €71,419 to €53,239
- Financial charges +€11,091
up €11,091 (+820%), from €1,352 to €12,444
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.
Result 2024
€385,675
Gross operating margin
+€2,109
Staff costs
-€3,788
Depreciation
-€1,129
Write-downs
+€79,124
Other operating charges
-€20,121
Other operating items
-€193
Financial income
-€9,859
Financial charges
-€11,091
Taxes
+€18,181
Result 2025
€438,908
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€463,886
Investment
-€399,674
Financing
-€88,424
Cash 2024
€375,978
From operations (derived)
+€463,886
Net result for the year
+€438,908
Depreciation
+€106,835
Stocks and contracts
-€146,645
Receivables within one year
-€122,342
Smaller working-capital items
+€1,575
Trade debts
+€75,167
Tax, wage and social debts
+€25,556
Other debts
+€84,833
Investment (derived)
-€399,674
Investment in fixed assets (net)
-€399,736
Current investments
+€62
Financing
-€88,424
Debts after one year
+€177,401
Current portion of long-term debt
+€50,035
Contributions, distributions and other
-€315,860
Cash 2025
€351,766
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,064,762 | €3,601,708 | +€536,946 | +17.5% |
| Fixed assets | 21/28 | €550,316 | €843,217 | +€292,901 | +53.2% |
| Intangible fixed assets | 21 | €10,413 | €28,373 | +€17,960 | +172% |
| Tangible fixed assets | 22/27 | €489,918 | €762,181 | +€272,263 | +55.6% |
| Land and buildings | 22 | €366,789 | €632,654 | +€265,865 | +72.5% |
| Plant, machinery and equipment | 23 | €27,989 | €24,393 | -€3,595 | -12.8% |
| Furniture and vehicles | 24 | €95,140 | €105,134 | +€9,993 | +10.5% |
| Financial fixed assets | 28 | €49,985 | €52,663 | +€2,678 | +5.4% |
| Current assets | 29/58 | €2,514,446 | €2,758,491 | +€244,045 | +9.7% |
| Stocks and contracts in progress | 3 | €1,600,676 | €1,747,321 | +€146,645 | +9.2% |
| Stocks | 30/36 | €1,600,676 | €1,747,321 | +€146,645 | +9.2% |
| Amounts receivable within one year | 40/41 | €423,017 | €545,359 | +€122,342 | +28.9% |
| Trade receivables | 40 | €417,223 | €536,864 | +€119,641 | +28.7% |
| Other amounts receivable | 41 | €5,794 | €8,495 | +€2,701 | +46.6% |
| Current investments | 50/53 | €104,630 | €104,568 | -€62 | -0.1% |
| Cash at bank and in hand | 54/58 | €375,978 | €351,766 | -€24,212 | -6.4% |
| Deferred charges and accrued income | 490/1 | €10,145 | €9,477 | -€668 | -6.6% |
| Total equity and liabilities | 10/49 | €3,064,762 | €3,601,708 | +€536,946 | +17.5% |
| Equity | 10/15 | €2,635,760 | €2,758,808 | +€123,048 | +4.7% |
| Contributions | 10/11 | €305,000 | €305,000 | = | 0.0% |
| Capital | 10 | €305,000 | €305,000 | = | 0.0% |
| Issued capital | 100 | €305,000 | €305,000 | = | 0.0% |
| Reserves | 13 | €764,302 | €887,349 | +€123,048 | +16.1% |
| Non-distributable reserves | 130/1 | €30,500 | €30,500 | = | 0.0% |
| Legal reserve | 130 | €30,500 | €30,500 | = | 0.0% |
| Distributable reserves | 133 | €733,802 | €856,849 | +€123,048 | +16.8% |
| Profit (loss) carried forward | 14 | €1,566,459 | €1,566,459 | = | 0.0% |
| Amounts payable | 17/49 | €429,002 | €842,900 | +€413,898 | +96.5% |
| Amounts payable after more than one year | 17 | - | €177,401 | +€177,401 | |
| Financial debts | 170/4 | - | €177,401 | +€177,401 | |
| Amounts payable within one year | 42/48 | €429,002 | €665,498 | +€236,497 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | - | €50,035 | +€50,035 | |
| Trade debts | 44 | €55,682 | €130,849 | +€75,167 | +135% |
| Suppliers | 440/4 | €55,682 | €130,849 | +€75,167 | +135% |
| Advances received on contracts in progress | 46 | €85 | €992 | +€907 | +1,062% |
| Taxes, remuneration and social security | 45 | €112,206 | €137,762 | +€25,556 | +22.8% |
| Taxes | 450/3 | €22,945 | €51,230 | +€28,285 | +123% |
| Remuneration and social security | 454/9 | €89,262 | €86,532 | -€2,730 | -3.1% |
| Other amounts payable | 47/48 | €261,028 | €345,860 | +€84,833 | +32.5% |
| Non-recurring operating income | 76A | €0 | €17,225 | +€17,225 | |
| Remuneration, social security and pensions | 62 | €542,409 | €546,197 | +€3,788 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,706 | €106,835 | +€1,129 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,890 | -€42,234 | -€79,124 | |
| Other operating charges | 640/8 | €16,155 | €36,277 | +€20,121 | +125% |
| Non-recurring operating charges | 66A | €0 | €193 | +€193 | |
| Gross operating margin | 9900 | €1,094,491 | €1,096,600 | +€2,109 | +0.2% |
| Operating profit (loss) | 9901 | €393,330 | €449,333 | +€56,002 | +14.2% |
| Financial income | 75/76B | €65,117 | €55,258 | -€9,859 | -15.1% |
| Recurring financial income | 75 | €65,117 | €55,258 | -€9,859 | -15.1% |
| Financial charges | 65/66B | €1,352 | €12,444 | +€11,091 | +820% |
| Recurring financial charges | 65 | €1,352 | €12,444 | +€11,091 | +820% |
| Profit (loss) for the period before taxes | 9903 | €457,095 | €492,147 | +€35,052 | +7.7% |
| Income taxes | 67/77 | €71,419 | €53,239 | -€18,181 | -25.5% |
| Profit (loss) for the period | 9904 | €385,675 | €438,908 | +€53,233 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €385,675 | €438,908 | +€53,233 | +13.8% |
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.