JAMBESDIS: 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.
JAMBESDIS
Largest movements
- Cash -€453,105
no longer reported in 2025 (was €453,105)
mainly Net result for the year (-€1.1m) and Current portion of long-term debt (-€466,539)
- Stocks and contracts -€236,724
down €236,724 (-36.5%), from €649,387 to €412,663
- Intangible fixed assets -€86,902
down €86,902 (-17.4%), from €499,511 to €412,609
- Tangible fixed assets -€80,903
down €80,903 (-14.7%), from €550,273 to €469,369
of which Plant, machinery and equipment: -€84,560
- Deferred charges and accrued income -€49,492
down €49,492 (-90.2%), from €54,865 to €5,373
- Profit (loss) carried forward -€1.1m
down €1.1m (-118%), from -€951,620 to -€2.1m
- Trade debts +€614,642
up €614,642 (+41.9%), from €1.5m to €2.1m
- Current portion of long-term debt -€466,539
down €466,539 (-73.8%), from €631,902 to €165,362
- Debts after one year -€149,257
down €149,257 (-18.0%), from €829,401 to €680,144
- Other debts +€113,969
up €113,969 (+124%), from €91,766 to €205,734
- Staff costs +€122,575
up €122,575 (+11.8%), from €1.0m to €1.2m
- Financial charges +€28,355
up €28,355 (+29.2%), from €97,093 to €125,448
- Other operating charges +€23,318
up €23,318 (+55.7%), from €41,864 to €65,182
- Gross operating margin +€17,746
up €17,746 (+4.4%), from €405,601 to €423,347
- Depreciation +€13,916
up €13,916 (+7.5%), from €186,697 to €200,613
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 | €2,293,668 | €1,353,942 | -€939,725 | -41.0% |
| Formation expenses | 20 | €1,006 | €732 | -€274 | -27.3% |
| Fixed assets | 21/28 | €1,060,600 | €892,980 | -€167,620 | -15.8% |
| Intangible fixed assets | 21 | €499,511 | €412,609 | -€86,902 | -17.4% |
| Tangible fixed assets | 22/27 | €550,273 | €469,369 | -€80,903 | -14.7% |
| Plant, machinery and equipment | 23 | €490,852 | €406,292 | -€84,560 | -17.2% |
| Furniture and vehicles | 24 | €59,421 | €63,077 | +€3,657 | +6.2% |
| Financial fixed assets | 28 | €10,817 | €11,002 | +€185 | +1.7% |
| Current assets | 29/58 | €1,232,061 | €460,231 | -€771,830 | -62.6% |
| Stocks and contracts in progress | 3 | €649,387 | €412,663 | -€236,724 | -36.5% |
| Stocks | 30/36 | €649,387 | €412,663 | -€236,724 | -36.5% |
| Amounts receivable within one year | 40/41 | €74,703 | €42,194 | -€32,509 | -43.5% |
| Trade receivables | 40 | €39,840 | €17,811 | -€22,030 | -55.3% |
| Other amounts receivable | 41 | €34,863 | €24,383 | -€10,480 | -30.1% |
| Cash at bank and in hand | 54/58 | €453,105 | - | -€453,105 | |
| Deferred charges and accrued income | 490/1 | €54,865 | €5,373 | -€49,492 | -90.2% |
| Total equity and liabilities | 10/49 | €2,293,668 | €1,353,942 | -€939,725 | -41.0% |
| Equity | 10/15 | -€876,417 | -€2,001,603 | -€1.1m | -128% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €203 | €203 | = | 0.0% |
| Non-distributable reserves | 130/1 | €203 | €203 | = | 0.0% |
| Legal reserve | 130 | €203 | €203 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€951,620 | -€2,076,805 | -€1.1m | -118% |
| Amounts payable | 17/49 | €3,170,085 | €3,355,545 | +€185,460 | +5.9% |
| Amounts payable after more than one year | 17 | €829,401 | €680,144 | -€149,257 | -18.0% |
| Financial debts | 170/4 | €829,401 | €680,144 | -€149,257 | -18.0% |
| Amounts payable within one year | 42/48 | €2,340,684 | €2,675,401 | +€334,718 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €631,902 | €165,362 | -€466,539 | -73.8% |
| Trade debts | 44 | €1,468,298 | €2,082,940 | +€614,642 | +41.9% |
| Suppliers | 440/4 | €1,468,298 | €2,082,940 | +€614,642 | +41.9% |
| Taxes, remuneration and social security | 45 | €148,718 | €221,364 | +€72,646 | +48.8% |
| Taxes | 450/3 | €2,628 | €24,869 | +€22,241 | +846% |
| Remuneration and social security | 454/9 | €146,089 | €196,495 | +€50,405 | +34.5% |
| Other amounts payable | 47/48 | €91,766 | €205,734 | +€113,969 | +124% |
| Remuneration, social security and pensions | 62 | €1,036,340 | €1,158,915 | +€122,575 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,697 | €200,613 | +€13,916 | +7.5% |
| Other operating charges | 640/8 | €41,864 | €65,182 | +€23,318 | +55.7% |
| Gross operating margin | 9900 | €405,601 | €423,347 | +€17,746 | +4.4% |
| Operating profit (loss) | 9901 | -€859,300 | -€1,001,363 | -€142,063 | -16.5% |
| Financial income | 75/76B | - | €1,976 | +€1,976 | |
| Recurring financial income | 75 | - | €1,976 | +€1,976 | |
| Financial charges | 65/66B | €97,093 | €125,448 | +€28,355 | +29.2% |
| Recurring financial charges | 65 | €97,093 | €125,448 | +€28,355 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | -€956,393 | -€1,124,836 | -€168,442 | -17.6% |
| Income taxes | 67/77 | -€922 | €350 | +€1,272 | |
| Profit (loss) for the period | 9904 | -€955,471 | -€1,125,186 | -€169,715 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€955,471 | -€1,125,186 | -€169,715 | -17.8% |
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 15 October 2026 via checked.be.