JALEHO: 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.
JALEHO
Largest movements
- Receivables after one year -€1.1m
down €1.1m (-62.2%), from €1.7m to €639,000
- Receivables within one year +€899,652
up €899,652 (+84.0%), from €1.1m to €2.0m
of which Other amounts receivable: +€897,293
- Tangible fixed assets +€162,068
up €162,068 (+53.0%), from €305,747 to €467,815
of which Other tangible fixed assets: +€154,039
- Current investments -€112,692
down €112,692 (-89.9%), from €125,386 to €12,694
- Deferred charges and accrued income -€57,184
down €57,184 (-59.9%), from €95,510 to €38,327
- Reserves -€1.1m
down €1.1m (-35.6%), from €3.0m to €1.9m
of which Distributable reserves: -€1.1m
- Other debts +€866,903
up €866,903 (+145.1%), from €597,319 to €1.5m
- Financial income +€76,423
up €76,423 (+35.0%), from €218,411 to €294,834
- Gross operating margin -€37,246
down €37,246 (-445.8%), from -€8,354 to -€45,600
- Financial charges +€30,648
up €30,648 (+131.6%), from €23,282 to €53,930
- Taxes -€2,683
down €2,683 (-5.2%), from €51,347 to €48,664
- Depreciation +€1,559
up €1,559 (+20.4%), from €7,655 to €9,214
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 | €3,779,988 | €3,591,048 | -€188,940 | -5.0% |
| Fixed assets | 21/28 | €746,640 | €908,708 | +€162,068 | +21.7% |
| Tangible fixed assets | 22/27 | €305,747 | €467,815 | +€162,068 | +53.0% |
| Land and buildings | 22 | €150,424 | €148,611 | -€1,814 | -1.2% |
| Furniture and vehicles | 24 | €4,273 | €4,515 | +€243 | +5.7% |
| Other tangible fixed assets | 26 | €55,250 | €209,289 | +€154,039 | +278.8% |
| Assets under construction and advance payments | 27 | €95,800 | €105,400 | +€9,600 | +10.0% |
| Financial fixed assets | 28 | €440,894 | €440,894 | = | 0.0% |
| Current assets | 29/58 | €3,033,348 | €2,682,340 | -€351,008 | -11.6% |
| Amounts receivable after more than one year | 29 | €1,692,000 | €639,000 | -€1.1m | -62.2% |
| Other amounts receivable | 291 | €1,692,000 | €639,000 | -€1.1m | -62.2% |
| Amounts receivable within one year | 40/41 | €1,071,302 | €1,970,954 | +€899,652 | +84.0% |
| Trade receivables | 40 | €993 | €3,351 | +€2,359 | +237.6% |
| Other amounts receivable | 41 | €1,070,309 | €1,967,602 | +€897,293 | +83.8% |
| Current investments | 50/53 | €125,386 | €12,694 | -€112,692 | -89.9% |
| Cash at bank and in hand | 54/58 | €49,150 | €21,366 | -€27,784 | -56.5% |
| Deferred charges and accrued income | 490/1 | €95,510 | €38,327 | -€57,184 | -59.9% |
| Total equity and liabilities | 10/49 | €3,779,988 | €3,591,048 | -€188,940 | -5.0% |
| Equity | 10/15 | €3,028,926 | €1,957,481 | -€1.1m | -35.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,008,170 | €1,936,720 | -€1.1m | -35.6% |
| Tax-exempt reserves | 132 | €28,510 | €28,510 | = | 0.0% |
| Distributable reserves | 133 | €2,979,659 | €1,908,209 | -€1.1m | -36.0% |
| Profit (loss) carried forward | 14 | €2,164 | €2,169 | +€5 | +0.2% |
| Provisions and deferred taxes | 16 | €23,421 | €23,421 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €23,421 | €23,421 | = | 0.0% |
| Pensions and similar obligations | 160 | €23,421 | €23,421 | = | 0.0% |
| Amounts payable | 17/49 | €727,642 | €1,610,146 | +€882,505 | +121.3% |
| Amounts payable within one year | 42/48 | €725,923 | €1,610,146 | +€884,223 | +121.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €71,685 | €87,784 | +€16,099 | +22.5% |
| Suppliers | 440/4 | €71,685 | €87,784 | +€16,099 | +22.5% |
| Taxes, remuneration and social security | 45 | €56,919 | €58,140 | +€1,221 | +2.1% |
| Taxes | 450/3 | €56,919 | €58,140 | +€1,221 | +2.1% |
| Other amounts payable | 47/48 | €597,319 | €1,464,223 | +€866,903 | +145.1% |
| Accrued charges and deferred income | 492/3 | €1,718 | €0 | -€1,718 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,655 | €9,214 | +€1,559 | +20.4% |
| Other operating charges | 640/8 | €2,903 | €3,796 | +€894 | +30.8% |
| Non-recurring operating charges | 66A | - | €1,814 | +€1,814 | |
| Gross operating margin | 9900 | -€8,354 | -€45,600 | -€37,246 | -445.8% |
| Operating profit (loss) | 9901 | -€18,912 | -€60,425 | -€41,513 | -219.5% |
| Financial income | 75/76B | €218,411 | €294,834 | +€76,423 | +35.0% |
| Recurring financial income | 75 | €218,411 | €294,834 | +€76,423 | +35.0% |
| Financial charges | 65/66B | €23,282 | €53,930 | +€30,648 | +131.6% |
| Recurring financial charges | 65 | €23,282 | €53,930 | +€30,648 | +131.6% |
| Profit (loss) for the period before taxes | 9903 | €176,218 | €180,480 | +€4,262 | +2.4% |
| Income taxes | 67/77 | €51,347 | €48,664 | -€2,683 | -5.2% |
| Profit (loss) for the period | 9904 | €124,870 | €131,815 | +€6,945 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €124,870 | €131,815 | +€6,945 | +5.6% |
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 4 October 2026 via checked.be.