JAMACO: 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.
What changed
JAMACO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€80,258
2024 · -€80,173+€160,431
Equity
€1.5m
2024 · €1.4m+€80,258
Cash
€810
2024 · €4,002-€3,192
Balance sheet total
€3.6m
2024 · €3.5m+€59,385
Largest movements
Assets
- Receivables within one year +€175,510
up €175,510 (+58.5%), from €299,872 to €475,382
of which Other amounts receivable: +€175,549
- Tangible fixed assets -€109,907
down €109,907 (-3.8%), from €2.9m to €2.8m
Equity and liabilities
- Debts after one year +€302,997
up €302,997 (+19.9%), from €1.5m to €1.8m
of which Other amounts payable: +€161,124
- Other debts -€174,463
down €174,463 (-79.5%), from €219,352 to €44,889
- Short-term financial debts -€150,000
no longer reported in 2025 (was €150,000)
- Profit (loss) carried forward +€91,838
up €91,838 (+16.8%), from -€547,188 to -€455,350
Income statement
- Gross operating margin +€155,954
up €155,954 (+371.8%), from €41,949 to €197,902
- Depreciation -€3,171
down €3,171 (-3.4%), from €92,054 to €88,883
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.
Result 2024
-€80,173
Gross operating margin
+€155,954
Depreciation
+€3,171
Other operating charges
-€1,742
Financial income
+€1,609
Financial charges
+€1,446
Taxes
-€5
Result 2025
€80,258
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.
From operations
-€187,846
Investment
+€21,024
Financing
+€163,631
Cash 2024
€4,002
From operations (derived)
-€187,846
Net result for the year
+€80,258
Depreciation
+€88,883
Receivables within one year
-€175,510
Deferred charges and accrued income
+€3,026
Provisions
-€5,511
Trade debts
+€503
Tax, wage and social debts
-€4,211
Other debts
-€174,463
Accrued charges and deferred income
-€821
Investment (derived)
+€21,024
Investment in fixed assets (net)
+€21,024
Financing
+€163,631
Debts after one year
+€302,997
Current portion of long-term debt
+€10,634
Short-term financial debts
-€150,000
Cash 2025
€810
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,493,910 | €3,553,295 | +€59,385 | +1.7% |
| Fixed assets | 21/28 | €2,920,473 | €2,810,566 | -€109,907 | -3.8% |
| Tangible fixed assets | 22/27 | €2,920,473 | €2,810,566 | -€109,907 | -3.8% |
| Land and buildings | 22 | €2,920,473 | €2,810,566 | -€109,907 | -3.8% |
| Current assets | 29/58 | €573,437 | €742,729 | +€169,292 | +29.5% |
| Amounts receivable after more than one year | 29 | €256,000 | €256,000 | = | 0.0% |
| Other amounts receivable | 291 | €256,000 | €256,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €299,872 | €475,382 | +€175,510 | +58.5% |
| Trade receivables | 40 | €39 | - | -€39 | |
| Other amounts receivable | 41 | €299,834 | €475,382 | +€175,549 | +58.5% |
| Cash at bank and in hand | 54/58 | €4,002 | €810 | -€3,192 | -79.8% |
| Deferred charges and accrued income | 490/1 | €13,563 | €10,537 | -€3,026 | -22.3% |
| Total equity and liabilities | 10/49 | €3,493,910 | €3,553,295 | +€59,385 | +1.7% |
| Equity | 10/15 | €1,431,205 | €1,511,463 | +€80,258 | +5.6% |
| Contributions | 10/11 | €1,761,500 | €1,761,500 | = | 0.0% |
| Capital | 10 | €1,761,500 | €1,761,500 | = | 0.0% |
| Issued capital | 100 | €1,761,500 | €1,761,500 | = | 0.0% |
| Reserves | 13 | €216,893 | €205,313 | -€11,580 | -5.3% |
| Non-distributable reserves | 130/1 | €5,966 | €5,966 | = | 0.0% |
| Legal reserve | 130 | €5,966 | €5,966 | = | 0.0% |
| Tax-exempt reserves | 132 | €194,593 | €183,013 | -€11,580 | -6.0% |
| Distributable reserves | 133 | €16,334 | €16,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€547,188 | -€455,350 | +€91,838 | +16.8% |
| Provisions and deferred taxes | 16 | €90,136 | €84,624 | -€5,511 | -6.1% |
| Deferred taxes | 168 | €90,136 | €84,624 | -€5,511 | -6.1% |
| Amounts payable | 17/49 | €1,972,570 | €1,957,208 | -€15,362 | -0.8% |
| Amounts payable after more than one year | 17 | €1,524,511 | €1,827,508 | +€302,997 | +19.9% |
| Financial debts | 170/4 | €324,511 | €466,384 | +€141,873 | +43.7% |
| Other amounts payable | 178/9 | €1,200,000 | €1,361,124 | +€161,124 | +13.4% |
| Amounts payable within one year | 42/48 | €444,552 | €127,015 | -€317,537 | -71.4% |
| Current portion of amounts payable after more than one year | 42 | €45,178 | €55,812 | +€10,634 | +23.5% |
| Financial debts | 43 | €150,000 | - | -€150,000 | |
| Credit institutions | 430/8 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €25,499 | €26,001 | +€503 | +2.0% |
| Suppliers | 440/4 | €25,499 | €26,001 | +€503 | +2.0% |
| Taxes, remuneration and social security | 45 | €4,523 | €312 | -€4,211 | -93.1% |
| Taxes | 450/3 | €4,523 | €312 | -€4,211 | -93.1% |
| Other amounts payable | 47/48 | €219,352 | €44,889 | -€174,463 | -79.5% |
| Accrued charges and deferred income | 492/3 | €3,506 | €2,685 | -€821 | -23.4% |
| Non-recurring operating income | 76A | €2,555 | €163,977 | +€161,422 | +6318.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,054 | €88,883 | -€3,171 | -3.4% |
| Other operating charges | 640/8 | €23,992 | €25,734 | +€1,742 | +7.3% |
| Gross operating margin | 9900 | €41,949 | €197,902 | +€155,954 | +371.8% |
| Operating profit (loss) | 9901 | -€74,097 | €83,285 | +€157,382 | |
| Financial income | 75/76B | €11,313 | €12,922 | +€1,609 | +14.2% |
| Recurring financial income | 75 | €11,313 | €12,922 | +€1,609 | +14.2% |
| Financial charges | 65/66B | €22,742 | €21,296 | -€1,446 | -6.4% |
| Recurring financial charges | 65 | €22,742 | €21,296 | -€1,446 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€85,526 | €74,911 | +€160,437 | |
| Transfer from deferred taxes | 780 | €5,511 | €5,511 | = | 0.0% |
| Income taxes | 67/77 | €158 | €164 | +€5 | +3.4% |
| Profit (loss) for the period | 9904 | -€80,173 | €80,258 | +€160,431 | |
| Transfer from tax-exempt reserves | 789 | €11,580 | €11,580 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,593 | €91,838 | +€160,431 |
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 5 October 2026 via checked.be.