JAGO: 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.
JAGO
Largest movements
- Tangible fixed assets +€374,481
up €374,481 (+26.1%), from €1.4m to €1.8m
of which Land and buildings: +€228,240
- Receivables within one year -€199,138
down €199,138 (-85.5%), from €232,934 to €33,796
of which Trade receivables: -€193,670
- Cash +€97,345
up €97,345 (+732.0%), from €13,299 to €110,644
mainly Other debts (+€389,643) and Receivables within one year (+€199,138)
- Current investments +€50,223
up €50,223 (+336.2%), from €14,938 to €65,162
- Other debts +€389,643
up €389,643 (+80.4%), from €484,914 to €874,557
- Tax, wage and social debts -€138,909
down €138,909 (-69.2%), from €200,877 to €61,968
- Trade debts -€69,567
down €69,567 (-86.9%), from €80,060 to €10,492
- Reserves +€63,640
up €63,640 (+6.9%), from €920,479 to €984,119
- Debts after one year +€57,719
new in 2025: €57,719
- Gross operating margin -€69,752
down €69,752 (-29.3%), from €238,191 to €168,439
- Depreciation +€63,900
up €63,900 (+425.1%), from €15,034 to €78,934
- Taxes -€27,512
down €27,512 (-53.9%), from €51,007 to €23,495
- Financial income -€25,704
down €25,704 (-84.3%), from €30,499 to €4,795
- Financial charges -€5,554
down €5,554 (-58.9%), from €9,424 to €3,870
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 | €1,695,734 | €2,019,358 | +€323,623 | +19.1% |
| Fixed assets | 21/28 | €1,433,331 | €1,807,812 | +€374,481 | +26.1% |
| Tangible fixed assets | 22/27 | €1,433,331 | €1,807,812 | +€374,481 | +26.1% |
| Land and buildings | 22 | €1,404,797 | €1,633,037 | +€228,240 | +16.2% |
| Plant, machinery and equipment | 23 | - | €3,753 | +€3,753 | |
| Furniture and vehicles | 24 | €28,534 | €171,022 | +€142,488 | +499.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €262,403 | €211,545 | -€50,858 | -19.4% |
| Amounts receivable within one year | 40/41 | €232,934 | €33,796 | -€199,138 | -85.5% |
| Trade receivables | 40 | €227,374 | €33,704 | -€193,670 | -85.2% |
| Other amounts receivable | 41 | €5,560 | €92 | -€5,468 | -98.3% |
| Current investments | 50/53 | €14,938 | €65,162 | +€50,223 | +336.2% |
| Cash at bank and in hand | 54/58 | €13,299 | €110,644 | +€97,345 | +732.0% |
| Deferred charges and accrued income | 490/1 | €1,232 | €1,944 | +€712 | +57.8% |
| Total equity and liabilities | 10/49 | €1,695,734 | €2,019,358 | +€323,623 | +19.1% |
| Equity | 10/15 | €928,584 | €992,224 | +€63,640 | +6.9% |
| Contributions | 10/11 | €8,105 | €8,105 | = | 0.0% |
| Reserves | 13 | €920,479 | €984,119 | +€63,640 | +6.9% |
| Distributable reserves | 133 | €920,479 | €984,119 | +€63,640 | +6.9% |
| Amounts payable | 17/49 | €767,150 | €1,027,133 | +€259,983 | +33.9% |
| Amounts payable after more than one year | 17 | - | €57,719 | +€57,719 | |
| Financial debts | 170/4 | - | €57,719 | +€57,719 | |
| Amounts payable within one year | 42/48 | €767,150 | €969,414 | +€202,264 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | - | €15,791 | +€15,791 | |
| Financial debts | 43 | €1,300 | €6,607 | +€5,307 | +408.3% |
| Credit institutions | 430/8 | €1,300 | €6,607 | +€5,307 | +408.3% |
| Trade debts | 44 | €80,060 | €10,492 | -€69,567 | -86.9% |
| Suppliers | 440/4 | €80,060 | €10,492 | -€69,567 | -86.9% |
| Taxes, remuneration and social security | 45 | €200,877 | €61,968 | -€138,909 | -69.2% |
| Taxes | 450/3 | €200,877 | €61,968 | -€138,909 | -69.2% |
| Other amounts payable | 47/48 | €484,914 | €874,557 | +€389,643 | +80.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,034 | €78,934 | +€63,900 | +425.1% |
| Other operating charges | 640/8 | €3,526 | €3,295 | -€232 | -6.6% |
| Gross operating margin | 9900 | €238,191 | €168,439 | -€69,752 | -29.3% |
| Operating profit (loss) | 9901 | €219,631 | €86,211 | -€133,421 | -60.7% |
| Financial income | 75/76B | €30,499 | €4,795 | -€25,704 | -84.3% |
| Recurring financial income | 75 | €30,499 | €4,795 | -€25,704 | -84.3% |
| Financial charges | 65/66B | €9,424 | €3,870 | -€5,554 | -58.9% |
| Recurring financial charges | 65 | €9,424 | €3,870 | -€5,554 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | €240,706 | €87,135 | -€153,570 | -63.8% |
| Income taxes | 67/77 | €51,007 | €23,495 | -€27,512 | -53.9% |
| Profit (loss) for the period | 9904 | €189,698 | €63,640 | -€126,058 | -66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €189,698 | €63,640 | -€126,058 | -66.5% |
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 29 September 2026 via checked.be.