JAGY: 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.
JAGY
Largest movements
- Tangible fixed assets -€54,584
down €54,584 (-9.6%), from €567,701 to €513,117
of which Other tangible fixed assets: -€65,506
- Receivables within one year -€21,665
down €21,665 (-20.4%), from €106,327 to €84,662
of which Trade receivables: -€22,486
- Stocks and contracts -€7,516
down €7,516 (-27.7%), from €27,128 to €19,612
- Profit (loss) carried forward -€72,162
down €72,162 (-30.5%), from -€236,835 to -€308,996
- Debts after one year -€57,988
down €57,988 (-6.5%), from €894,626 to €836,638
of which Other amounts payable: -€39,895
- Other debts +€53,496
up €53,496, from €0 to €53,496
- Depreciation +€15,742
up €15,742 (+27.6%), from €57,115 to €72,857
- Staff costs -€14,026
down €14,026 (-86.6%), from €16,198 to €2,171
- Gross operating margin -€6,442
down €6,442 (-33.5%), from €19,220 to €12,779
- Other operating charges +€3,358
up €3,358 (+530.0%), from €634 to €3,992
- Financial charges +€2,143
up €2,143 (+60.6%), from €3,534 to €5,677
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 | €714,824 | €635,284 | -€79,540 | -11.1% |
| Fixed assets | 21/28 | €573,857 | €519,236 | -€54,621 | -9.5% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €567,701 | €513,117 | -€54,584 | -9.6% |
| Land and buildings | 22 | €402,582 | €377,091 | -€25,491 | -6.3% |
| Plant, machinery and equipment | 23 | €93,939 | €131,833 | +€37,893 | +40.3% |
| Furniture and vehicles | 24 | €5,673 | €4,193 | -€1,480 | -26.1% |
| Other tangible fixed assets | 26 | €65,506 | €0 | -€65,506 | -100.0% |
| Financial fixed assets | 28 | €6,155 | €6,117 | -€38 | -0.6% |
| Current assets | 29/58 | €140,967 | €116,048 | -€24,919 | -17.7% |
| Stocks and contracts in progress | 3 | €27,128 | €19,612 | -€7,516 | -27.7% |
| Stocks | 30/36 | €27,128 | €19,612 | -€7,516 | -27.7% |
| Amounts receivable within one year | 40/41 | €106,327 | €84,662 | -€21,665 | -20.4% |
| Trade receivables | 40 | €105,118 | €82,631 | -€22,486 | -21.4% |
| Other amounts receivable | 41 | €1,210 | €2,031 | +€822 | +67.9% |
| Cash at bank and in hand | 54/58 | €3,482 | €9,479 | +€5,997 | +172.2% |
| Deferred charges and accrued income | 490/1 | €4,029 | €2,294 | -€1,735 | -43.1% |
| Total equity and liabilities | 10/49 | €714,824 | €635,284 | -€79,540 | -11.1% |
| Equity | 10/15 | -€230,325 | -€302,486 | -€72,162 | -31.3% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€236,835 | -€308,996 | -€72,162 | -30.5% |
| Amounts payable | 17/49 | €945,149 | €937,770 | -€7,379 | -0.8% |
| Amounts payable after more than one year | 17 | €894,626 | €836,638 | -€57,988 | -6.5% |
| Financial debts | 170/4 | €219,857 | €201,764 | -€18,093 | -8.2% |
| Other amounts payable | 178/9 | €674,769 | €634,874 | -€39,895 | -5.9% |
| Amounts payable within one year | 42/48 | €46,550 | €101,132 | +€54,582 | +117.3% |
| Current portion of amounts payable after more than one year | 42 | €18,218 | €18,093 | -€125 | -0.7% |
| Trade debts | 44 | €28,332 | €29,183 | +€851 | +3.0% |
| Suppliers | 440/4 | €28,332 | €29,183 | +€851 | +3.0% |
| Taxes, remuneration and social security | 45 | €0 | €361 | +€361 | |
| Taxes | 450/3 | €0 | €361 | +€361 | |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €53,496 | +€53,496 | |
| Accrued charges and deferred income | 492/3 | €3,973 | €0 | -€3,973 | -100.0% |
| Remuneration, social security and pensions | 62 | €16,198 | €2,171 | -€14,026 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,115 | €72,857 | +€15,742 | +27.6% |
| Other operating charges | 640/8 | €634 | €3,992 | +€3,358 | +530.0% |
| Gross operating margin | 9900 | €19,220 | €12,779 | -€6,442 | -33.5% |
| Operating profit (loss) | 9901 | -€54,726 | -€66,241 | -€11,515 | -21.0% |
| Financial income | 75/76B | €189 | €3 | -€186 | -98.7% |
| Recurring financial income | 75 | €189 | €3 | -€186 | -98.7% |
| Financial charges | 65/66B | €3,534 | €5,677 | +€2,143 | +60.6% |
| Recurring financial charges | 65 | €3,534 | €5,677 | +€2,143 | +60.6% |
| Profit (loss) for the period before taxes | 9903 | -€58,071 | -€71,916 | -€13,845 | -23.8% |
| Income taxes | 67/77 | €229 | €246 | +€17 | +7.4% |
| Profit (loss) for the period | 9904 | -€58,300 | -€72,162 | -€13,862 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,300 | -€72,162 | -€13,862 | -23.8% |
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 3 October 2026 via checked.be.