JAMAL: 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.
JAMAL
Largest movements
- Cash +€67,695
up €67,695 (+76.2%), from €88,859 to €156,554
mainly Accrued charges and deferred income (+€65,309) and Receivables within one year (+€22,457)
- Receivables within one year -€22,457
down €22,457 (-15.1%), from €148,448 to €125,991
of which Trade receivables: -€41,786
- Stocks and contracts -€5,300
down €5,300 (-64.3%), from €8,240 to €2,940
- Accrued charges and deferred income +€65,309
up €65,309 (+93.0%), from €70,194 to €135,503
- Reserves -€14,880
down €14,880 (-29.3%), from €50,811 to €35,931
- Tax, wage and social debts -€6,362
down €6,362 (-22.1%), from €28,724 to €22,362
of which Remuneration and social security: -€4,000
- Trade debts -€5,870
down €5,870 (-8.1%), from €72,741 to €66,871
- Gross operating margin -€16,577
down €16,577 (-10.5%), from €158,021 to €141,444
- Financial charges -€14,666
down €14,666 (-92.6%), from €15,834 to €1,167
- Staff costs -€5,928
down €5,928 (-5.5%), from €107,784 to €101,856
- Other operating charges +€4,119
up €4,119 (+241%), from €1,707 to €5,826
- Depreciation +€1,700
up €1,700 (+4,105%), from €41 to €1,742
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.
Derived cash bridge
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 | €251,780 | €289,977 | +€38,197 | +15.2% |
| Fixed assets | 21/28 | €5,183 | €3,442 | -€1,742 | -33.6% |
| Tangible fixed assets | 22/27 | €5,183 | €3,442 | -€1,742 | -33.6% |
| Plant, machinery and equipment | 23 | €5,183 | €3,442 | -€1,742 | -33.6% |
| Current assets | 29/58 | €246,597 | €286,535 | +€39,939 | +16.2% |
| Stocks and contracts in progress | 3 | €8,240 | €2,940 | -€5,300 | -64.3% |
| Stocks | 30/36 | €8,240 | €2,940 | -€5,300 | -64.3% |
| Amounts receivable within one year | 40/41 | €148,448 | €125,991 | -€22,457 | -15.1% |
| Trade receivables | 40 | €95,991 | €54,206 | -€41,786 | -43.5% |
| Other amounts receivable | 41 | €52,456 | €71,785 | +€19,329 | +36.8% |
| Cash at bank and in hand | 54/58 | €88,859 | €156,554 | +€67,695 | +76.2% |
| Deferred charges and accrued income | 490/1 | €1,050 | €1,050 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €251,780 | €289,977 | +€38,197 | +15.2% |
| Equity | 10/15 | €72,091 | €57,211 | -€14,880 | -20.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €50,811 | €35,931 | -€14,880 | -29.3% |
| Distributable reserves | 133 | €50,811 | €35,931 | -€14,880 | -29.3% |
| Profit (loss) carried forward | 14 | €2,730 | €2,730 | = | 0.0% |
| Provisions and deferred taxes | 16 | €8,030 | €8,030 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €8,030 | €8,030 | = | 0.0% |
| Pensions and similar obligations | 160 | €8,030 | €8,030 | = | 0.0% |
| Amounts payable | 17/49 | €171,659 | €224,736 | +€53,077 | +30.9% |
| Amounts payable within one year | 42/48 | €101,465 | €89,233 | -€12,232 | -12.1% |
| Trade debts | 44 | €72,741 | €66,871 | -€5,870 | -8.1% |
| Suppliers | 440/4 | €72,741 | €66,871 | -€5,870 | -8.1% |
| Taxes, remuneration and social security | 45 | €28,724 | €22,362 | -€6,362 | -22.1% |
| Taxes | 450/3 | €22,724 | €20,362 | -€2,362 | -10.4% |
| Remuneration and social security | 454/9 | €6,000 | €2,000 | -€4,000 | -66.7% |
| Accrued charges and deferred income | 492/3 | €70,194 | €135,503 | +€65,309 | +93.0% |
| Remuneration, social security and pensions | 62 | €107,784 | €101,856 | -€5,928 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41 | €1,742 | +€1,700 | +4,105% |
| Other operating charges | 640/8 | €1,707 | €5,826 | +€4,119 | +241% |
| Gross operating margin | 9900 | €158,021 | €141,444 | -€16,577 | -10.5% |
| Operating profit (loss) | 9901 | €48,489 | €32,021 | -€16,468 | -34.0% |
| Financial income | 75/76B | €4,144 | €4,881 | +€737 | +17.8% |
| Recurring financial income | 75 | €4,144 | €4,881 | +€737 | +17.8% |
| Financial charges | 65/66B | €15,834 | €1,167 | -€14,666 | -92.6% |
| Recurring financial charges | 65 | €15,834 | €1,167 | -€14,666 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €36,799 | €35,734 | -€1,065 | -2.9% |
| Income taxes | 67/77 | €18,745 | €18,614 | -€131 | -0.7% |
| Profit (loss) for the period | 9904 | €18,054 | €17,120 | -€934 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,054 | €17,120 | -€934 | -5.2% |
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 16 October 2026 via checked.be.