JAGUMA: 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.
JAGUMA
Largest movements
- Intangible fixed assets -€11,408
down €11,408 (-44.8%), from €25,471 to €14,063
- Tangible fixed assets -€8,199
down €8,199 (-9.5%), from €86,480 to €78,281
of which Land and buildings: -€7,800
- Receivables within one year -€5,941
down €5,941 (-89.9%), from €6,606 to €665
of which Other amounts receivable: -€4,878
- Cash -€2,997
down €2,997 (-56.9%), from €5,265 to €2,268
mainly Net result for the year (-€53,851) and Tax, wage and social debts (-€4,944)
- Profit (loss) carried forward -€53,851
down €53,851 (-16.8%), from -€321,326 to -€375,177
- Debts after one year +€23,000
up €23,000 (+9.9%), from €232,100 to €255,100
- Other debts +€5,955
up €5,955 (+26.6%), from €22,418 to €28,373
- Tax, wage and social debts -€4,944
down €4,944 (-91.4%), from €5,409 to €464
- Gross operating margin +€2,887
up €2,887 (+9.6%), from -€30,150 to -€27,263
- Depreciation +€2,043
up €2,043 (+9.7%), from €21,064 to €23,107
- Other operating charges -€616
down €616 (-18.4%), from €3,342 to €2,726
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,182 | €97,529 | -€29,653 | -23.3% |
| Fixed assets | 21/28 | €111,992 | €92,384 | -€19,607 | -17.5% |
| Intangible fixed assets | 21 | €25,471 | €14,063 | -€11,408 | -44.8% |
| Tangible fixed assets | 22/27 | €86,480 | €78,281 | -€8,199 | -9.5% |
| Land and buildings | 22 | €85,800 | €78,000 | -€7,800 | -9.1% |
| Furniture and vehicles | 24 | €680 | €281 | -€399 | -58.7% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €15,190 | €5,145 | -€10,045 | -66.1% |
| Amounts receivable within one year | 40/41 | €6,606 | €665 | -€5,941 | -89.9% |
| Trade receivables | 40 | €1,063 | - | -€1,063 | |
| Other amounts receivable | 41 | €5,543 | €665 | -€4,878 | -88.0% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,265 | €2,268 | -€2,997 | -56.9% |
| Deferred charges and accrued income | 490/1 | €3,319 | €2,212 | -€1,107 | -33.4% |
| Total equity and liabilities | 10/49 | €127,182 | €97,529 | -€29,653 | -23.3% |
| Equity | 10/15 | -€134,316 | -€188,167 | -€53,851 | -40.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €180,810 | €180,810 | = | 0.0% |
| Distributable reserves | 133 | €180,810 | €180,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321,326 | -€375,177 | -€53,851 | -16.8% |
| Amounts payable | 17/49 | €261,498 | €285,696 | +€24,198 | +9.3% |
| Amounts payable after more than one year | 17 | €232,100 | €255,100 | +€23,000 | +9.9% |
| Other amounts payable | 178/9 | €232,100 | €255,100 | +€23,000 | +9.9% |
| Amounts payable within one year | 42/48 | €28,817 | €30,596 | +€1,779 | +6.2% |
| Trade debts | 44 | €990 | €1,759 | +€768 | +77.6% |
| Suppliers | 440/4 | €990 | €1,759 | +€768 | +77.6% |
| Taxes, remuneration and social security | 45 | €5,409 | €464 | -€4,944 | -91.4% |
| Taxes | 450/3 | €5,409 | €464 | -€4,944 | -91.4% |
| Other amounts payable | 47/48 | €22,418 | €28,373 | +€5,955 | +26.6% |
| Accrued charges and deferred income | 492/3 | €581 | - | -€581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,064 | €23,107 | +€2,043 | +9.7% |
| Other operating charges | 640/8 | €3,342 | €2,726 | -€616 | -18.4% |
| Gross operating margin | 9900 | -€30,150 | -€27,263 | +€2,887 | +9.6% |
| Operating profit (loss) | 9901 | -€54,557 | -€53,097 | +€1,460 | +2.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €550 | €290 | -€260 | -47.3% |
| Recurring financial charges | 65 | €550 | €290 | -€260 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | -€55,107 | -€53,386 | +€1,720 | +3.1% |
| Income taxes | 67/77 | €455 | €464 | +€9 | +2.0% |
| Profit (loss) for the period | 9904 | -€55,562 | -€53,851 | +€1,711 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,562 | -€53,851 | +€1,711 | +3.1% |
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 22 October 2026 via checked.be.