JAMAE: what changed
Two financial 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.
JAMAE
Largest movements
- Tangible fixed assets -€17,640
down €17,640 (-3.9%), from €457,050 to €439,410
of which Land and buildings: -€13,267
- Stocks and contracts -€13,872
down €13,872 (-13.6%), from €101,912 to €88,040
- Cash -€12,967
down €12,967 (-20.0%), from €64,954 to €51,987
mainly Investment in fixed assets (net) (-€44,188) and Debts after one year (-€26,241)
- Debts after one year -€26,241
down €26,241 (-5.5%), from €476,097 to €449,857
of which Financial debts: -€26,241
- Profit (loss) carried forward -€21,663
down €21,663 (-89.3%), from -€24,269 to -€45,932
- Trade debts +€11,638
up €11,638 (+148.8%), from €7,822 to €19,460
- Gross operating margin -€50,698
down €50,698 (-19.0%), from €267,055 to €216,357
- Staff costs +€40,902
up €40,902 (+34.2%), from €119,714 to €160,616
- Depreciation -€6,297
down €6,297 (-9.2%), from €68,125 to €61,828
- Financial charges -€3,576
down €3,576 (-20.8%), from €17,175 to €13,599
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 | €654,576 | €613,061 | -€41,515 | -6.3% |
| Fixed assets | 21/28 | €457,400 | €439,760 | -€17,640 | -3.9% |
| Tangible fixed assets | 22/27 | €457,050 | €439,410 | -€17,640 | -3.9% |
| Land and buildings | 22 | €355,307 | €342,040 | -€13,267 | -3.7% |
| Plant, machinery and equipment | 23 | €61,741 | €65,827 | +€4,086 | +6.6% |
| Furniture and vehicles | 24 | €10,233 | €6,258 | -€3,975 | -38.8% |
| Other tangible fixed assets | 26 | €29,769 | €25,285 | -€4,484 | -15.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €197,176 | €173,301 | -€23,875 | -12.1% |
| Stocks and contracts in progress | 3 | €101,912 | €88,040 | -€13,872 | -13.6% |
| Stocks | 30/36 | €101,912 | €88,040 | -€13,872 | -13.6% |
| Amounts receivable within one year | 40/41 | €2,515 | €6,701 | +€4,185 | +166.4% |
| Trade receivables | 40 | €2,055 | €4,525 | +€2,470 | +120.2% |
| Other amounts receivable | 41 | €460 | €2,175 | +€1,715 | +372.6% |
| Current investments | 50/53 | €23,778 | €22,836 | -€942 | -4.0% |
| Cash at bank and in hand | 54/58 | €64,954 | €51,987 | -€12,967 | -20.0% |
| Deferred charges and accrued income | 490/1 | €4,017 | €3,738 | -€278 | -6.9% |
| Total equity and liabilities | 10/49 | €654,576 | €613,061 | -€41,515 | -6.3% |
| Equity | 10/15 | €125,803 | €104,140 | -€21,663 | -17.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €72 | €72 | = | 0.0% |
| Non-distributable reserves | 130/1 | €72 | €72 | = | 0.0% |
| Reserves not available under the articles | 1311 | €72 | €72 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,269 | -€45,932 | -€21,663 | -89.3% |
| Amounts payable | 17/49 | €528,773 | €508,921 | -€19,852 | -3.8% |
| Amounts payable after more than one year | 17 | €476,097 | €449,857 | -€26,241 | -5.5% |
| Financial debts | 170/4 | €311,097 | €284,857 | -€26,241 | -8.4% |
| Other amounts payable | 178/9 | €165,000 | €165,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,541 | €59,065 | +€6,523 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €26,241 | €26,241 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,822 | €19,460 | +€11,638 | +148.8% |
| Suppliers | 440/4 | €7,822 | €19,460 | +€11,638 | +148.8% |
| Taxes, remuneration and social security | 45 | €3,176 | €2,348 | -€828 | -26.1% |
| Taxes | 450/3 | €1,926 | €1,145 | -€781 | -40.6% |
| Remuneration and social security | 454/9 | €1,250 | €1,203 | -€47 | -3.8% |
| Other amounts payable | 47/48 | €15,302 | €11,016 | -€4,287 | -28.0% |
| Accrued charges and deferred income | 492/3 | €135 | €0 | -€135 | -100.0% |
| Remuneration, social security and pensions | 62 | €119,714 | €160,616 | +€40,902 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,125 | €61,828 | -€6,297 | -9.2% |
| Other operating charges | 640/8 | €4,613 | €3,564 | -€1,049 | -22.7% |
| Gross operating margin | 9900 | €267,055 | €216,357 | -€50,698 | -19.0% |
| Operating profit (loss) | 9901 | €74,603 | -€9,651 | -€84,254 | |
| Financial income | 75/76B | €2,665 | €1,941 | -€724 | -27.2% |
| Recurring financial income | 75 | €2,665 | €1,941 | -€724 | -27.2% |
| Financial charges | 65/66B | €17,175 | €13,599 | -€3,576 | -20.8% |
| Recurring financial charges | 65 | €17,175 | €13,599 | -€3,576 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €60,093 | -€21,309 | -€81,403 | |
| Income taxes | 67/77 | €771 | €353 | -€418 | -54.2% |
| Profit (loss) for the period | 9904 | €59,322 | -€21,663 | -€80,985 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,322 | -€21,663 | -€80,985 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.