JALCOS: 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.
JALCOS
Largest movements
- Tangible fixed assets -€278,456
down €278,456 (-9.3%), from €3.0m to €2.7m
of which Land and buildings: -€176,176
- Cash +€73,224
up €73,224 (+33.2%), from €220,429 to €293,653
mainly Depreciation (+€313,696) and Deferred charges and accrued income (+€9,219)
- Receivables within one year +€44,210
up €44,210 (+49.8%), from €88,753 to €132,963
of which Trade receivables: +€66,212
- Profit (loss) carried forward -€119,685
down €119,685 (-4.4%), from -€2.7m to -€2.8m
- Other debts -€33,295
down €33,295 (-0.6%), from €5.8m to €5.7m
- Staff costs +€43,232
up €43,232 (+28.0%), from €154,346 to €197,578
- Depreciation -€26,135
down €26,135 (-7.7%), from €339,831 to €313,696
- Gross operating margin +€23,426
up €23,426 (+6.2%), from €380,660 to €404,086
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 | €3,325,157 | €3,154,917 | -€170,240 | -5.1% |
| Fixed assets | 21/28 | €2,997,637 | €2,719,180 | -€278,456 | -9.3% |
| Tangible fixed assets | 22/27 | €2,997,077 | €2,718,620 | -€278,456 | -9.3% |
| Land and buildings | 22 | €2,310,647 | €2,134,471 | -€176,176 | -7.6% |
| Plant, machinery and equipment | 23 | €46,198 | €50,020 | +€3,822 | +8.3% |
| Furniture and vehicles | 24 | €342,331 | €287,922 | -€54,409 | -15.9% |
| Other tangible fixed assets | 26 | €270,354 | €220,332 | -€50,022 | -18.5% |
| Assets under construction and advance payments | 27 | €27,547 | €25,876 | -€1,671 | -6.1% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €327,521 | €435,737 | +€108,216 | +33.0% |
| Amounts receivable within one year | 40/41 | €88,753 | €132,963 | +€44,210 | +49.8% |
| Trade receivables | 40 | €46,300 | €112,512 | +€66,212 | +143.0% |
| Other amounts receivable | 41 | €42,453 | €20,451 | -€22,001 | -51.8% |
| Cash at bank and in hand | 54/58 | €220,429 | €293,653 | +€73,224 | +33.2% |
| Deferred charges and accrued income | 490/1 | €18,339 | €9,120 | -€9,219 | -50.3% |
| Total equity and liabilities | 10/49 | €3,325,157 | €3,154,917 | -€170,240 | -5.1% |
| Equity | 10/15 | -€2,504,975 | -€2,624,660 | -€119,685 | -4.8% |
| Contributions | 10/11 | €203,500 | €203,500 | = | 0.0% |
| Capital | 10 | €203,500 | €203,500 | = | 0.0% |
| Issued capital | 100 | €203,500 | €203,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,708,475 | -€2,828,160 | -€119,685 | -4.4% |
| Amounts payable | 17/49 | €5,830,132 | €5,779,577 | -€50,555 | -0.9% |
| Amounts payable within one year | 42/48 | €5,830,132 | €5,779,099 | -€51,033 | -0.9% |
| Trade debts | 44 | €55,227 | €34,018 | -€21,210 | -38.4% |
| Suppliers | 440/4 | €55,227 | €34,018 | -€21,210 | -38.4% |
| Taxes, remuneration and social security | 45 | €12,949 | €16,420 | +€3,471 | +26.8% |
| Taxes | 450/3 | €8 | €8 | = | 0.0% |
| Remuneration and social security | 454/9 | €12,940 | €16,411 | +€3,471 | +26.8% |
| Other amounts payable | 47/48 | €5,761,956 | €5,728,661 | -€33,295 | -0.6% |
| Accrued charges and deferred income | 492/3 | - | €478 | +€478 | |
| Non-recurring operating income | 76A | €135,400 | €60,259 | -€75,141 | -55.5% |
| Remuneration, social security and pensions | 62 | €154,346 | €197,578 | +€43,232 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339,831 | €313,696 | -€26,135 | -7.7% |
| Other operating charges | 640/8 | €12,836 | €13,473 | +€637 | +5.0% |
| Non-recurring operating charges | 66A | €58,400 | €0 | -€58,400 | -100.0% |
| Gross operating margin | 9900 | €380,660 | €404,086 | +€23,426 | +6.2% |
| Operating profit (loss) | 9901 | -€184,752 | -€120,661 | +€64,091 | +34.7% |
| Financial income | 75/76B | €0 | €1,269 | +€1,269 | |
| Recurring financial income | 75 | €0 | €1,269 | +€1,269 | |
| Financial charges | 65/66B | €126 | €294 | +€168 | +133.0% |
| Recurring financial charges | 65 | €126 | €294 | +€168 | +133.0% |
| Profit (loss) for the period before taxes | 9903 | -€184,878 | -€119,685 | +€65,193 | +35.3% |
| Income taxes | 67/77 | -€100 | €0 | +€100 | |
| Profit (loss) for the period | 9904 | -€184,778 | -€119,685 | +€65,092 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,778 | -€119,685 | +€65,092 | +35.2% |
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 6 October 2026 via checked.be.