JAMADRA: 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.
JAMADRA
Largest movements
- Tangible fixed assets +€973,880
up €973,880 (+32.3%), from €3.0m to €4.0m
of which Land and buildings: +€974,967
- Cash -€113,522
down €113,522 (-74.2%), from €152,990 to €39,468
mainly Investment in fixed assets (net) (-€1.2m) and Trade debts (-€33,931)
- Debts after one year +€758,304
up €758,304 (+40.9%), from €1.9m to €2.6m
- Reserves +€57,807
up €57,807 (+14.5%), from €397,526 to €455,334
of which Distributable reserves: +€76,310
- Other debts +€52,348
up €52,348 (+11.6%), from €449,500 to €501,848
- Other operating charges +€57,340
up €57,340 (+94.0%), from €60,973 to €118,313
- Gross operating margin +€44,559
up €44,559 (+9.6%), from €463,960 to €508,519
- Financial charges +€21,480
up €21,480 (+30.7%), from €69,911 to €91,391
- Taxes -€16,537
down €16,537 (-30.2%), from €54,671 to €38,134
- Depreciation +€14,315
up €14,315 (+7.2%), from €198,209 to €212,524
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 | €3,178,758 | €4,040,100 | +€861,342 | +27.1% |
| Fixed assets | 21/28 | €3,012,936 | €3,986,816 | +€973,880 | +32.3% |
| Tangible fixed assets | 22/27 | €3,012,936 | €3,986,816 | +€973,880 | +32.3% |
| Land and buildings | 22 | €3,006,349 | €3,981,317 | +€974,967 | +32.4% |
| Plant, machinery and equipment | 23 | €6,586 | €5,499 | -€1,087 | -16.5% |
| Current assets | 29/58 | €165,822 | €53,284 | -€112,538 | -67.9% |
| Amounts receivable within one year | 40/41 | - | €500 | +€500 | |
| Other amounts receivable | 41 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €152,990 | €39,468 | -€113,522 | -74.2% |
| Deferred charges and accrued income | 490/1 | €12,832 | €13,316 | +€484 | +3.8% |
| Total equity and liabilities | 10/49 | €3,178,758 | €4,040,100 | +€861,342 | +27.1% |
| Equity | 10/15 | €475,056 | €532,863 | +€57,807 | +12.2% |
| Contributions | 10/11 | €77,530 | €77,530 | = | 0.0% |
| Capital | 10 | €77,530 | €77,530 | = | 0.0% |
| Issued capital | 100 | €77,530 | €77,530 | = | 0.0% |
| Reserves | 13 | €397,526 | €455,334 | +€57,807 | +14.5% |
| Non-distributable reserves | 130/1 | €7,753 | €7,753 | = | 0.0% |
| Legal reserve | 130 | €7,753 | €7,753 | = | 0.0% |
| Tax-exempt reserves | 132 | €234,834 | €216,331 | -€18,503 | -7.9% |
| Distributable reserves | 133 | €154,939 | €231,250 | +€76,310 | +49.3% |
| Provisions and deferred taxes | 16 | €120,763 | €111,231 | -€9,532 | -7.9% |
| Deferred taxes | 168 | €120,763 | €111,231 | -€9,532 | -7.9% |
| Amounts payable | 17/49 | €2,582,939 | €3,396,006 | +€813,067 | +31.5% |
| Amounts payable after more than one year | 17 | €1,855,030 | €2,613,334 | +€758,304 | +40.9% |
| Financial debts | 170/4 | €1,855,030 | €2,613,334 | +€758,304 | +40.9% |
| Amounts payable within one year | 42/48 | €715,374 | €764,744 | +€49,370 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €176,470 | €197,674 | +€21,204 | +12.0% |
| Trade debts | 44 | €49,802 | €15,870 | -€33,931 | -68.1% |
| Suppliers | 440/4 | €49,802 | €15,870 | -€33,931 | -68.1% |
| Advances received on contracts in progress | 46 | €14,960 | €16,610 | +€1,650 | +11.0% |
| Taxes, remuneration and social security | 45 | €24,643 | €32,742 | +€8,099 | +32.9% |
| Taxes | 450/3 | €24,643 | €32,742 | +€8,099 | +32.9% |
| Other amounts payable | 47/48 | €449,500 | €501,848 | +€52,348 | +11.6% |
| Accrued charges and deferred income | 492/3 | €12,535 | €17,927 | +€5,393 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,209 | €212,524 | +€14,315 | +7.2% |
| Other operating charges | 640/8 | €60,973 | €118,313 | +€57,340 | +94.0% |
| Non-recurring operating charges | 66A | €3,664 | €3,664 | = | 0.0% |
| Gross operating margin | 9900 | €463,960 | €508,519 | +€44,559 | +9.6% |
| Operating profit (loss) | 9901 | €201,114 | €174,018 | -€27,096 | -13.5% |
| Financial income | 75/76B | €163 | €118 | -€45 | -27.6% |
| Recurring financial income | 75 | €163 | €118 | -€45 | -27.6% |
| Financial charges | 65/66B | €69,911 | €91,391 | +€21,480 | +30.7% |
| Recurring financial charges | 65 | €69,911 | €91,391 | +€21,480 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €131,366 | €82,745 | -€48,621 | -37.0% |
| Transfer from deferred taxes | 780 | €10,778 | €10,778 | = | 0.0% |
| Income taxes | 67/77 | €54,671 | €38,134 | -€16,537 | -30.2% |
| Profit (loss) for the period | 9904 | €87,472 | €55,389 | -€32,084 | -36.7% |
| Transfer from tax-exempt reserves | 789 | €20,921 | €20,921 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €108,394 | €76,310 | -€32,084 | -29.6% |
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 6 October 2026 via checked.be.