JAMETAL: 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.
JAMETAL
Largest movements
- Cash +€44,507
up €44,507 (+86.1%), from €51,718 to €96,225
mainly Net result for the year (+€107,482) and Tax, wage and social debts (+€13,448)
- Stocks and contracts +€24,777
up €24,777 (+26.0%), from €95,450 to €120,227
of which Contracts in progress: +€43,739
- Deferred charges and accrued income -€9,172
down €9,172 (-38.2%), from €24,023 to €14,851
- Reserves +€86,577
up €86,577 (+20.9%), from €413,785 to €500,362
of which Distributable reserves: +€46,582
- Profit (loss) carried forward -€30,823
no longer reported in 2025 (was €30,823)
- Debts after one year -€14,056
down €14,056 (-29.1%), from €48,240 to €34,183
- Tax, wage and social debts +€13,448
up €13,448 (+17.3%), from €77,691 to €91,139
of which Taxes: +€18,597
- Other debts +€9,424
up €9,424 (+94.3%), from €9,993 to €19,417
- Depreciation -€81,387
down €81,387 (-99.8%), from €81,570 to €183
- Gross operating margin +€34,363
up €34,363 (+11.0%), from €313,181 to €347,544
- Taxes +€30,523
up €30,523 (+235.5%), from €12,962 to €43,485
- Staff costs -€28,658
down €28,658 (-12.2%), from €235,327 to €206,669
- Financial income +€19,808
up €19,808 (+282.1%), from €7,022 to €26,830
of which Non-recurring financial income: +€18,315
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 | €663,815 | €721,000 | +€57,185 | +8.6% |
| Fixed assets | 21/28 | €428,850 | €430,345 | +€1,495 | +0.3% |
| Intangible fixed assets | 21 | €1,243 | €1,243 | = | 0.0% |
| Tangible fixed assets | 22/27 | €427,112 | €428,607 | +€1,495 | +0.3% |
| Land and buildings | 22 | €268,461 | €268,461 | = | 0.0% |
| Plant, machinery and equipment | 23 | €94,703 | €96,198 | +€1,495 | +1.6% |
| Furniture and vehicles | 24 | €49,447 | €49,447 | = | 0.0% |
| Leasing and similar rights | 25 | €14,501 | €14,501 | = | 0.0% |
| Financial fixed assets | 28 | €495 | €495 | = | 0.0% |
| Current assets | 29/58 | €234,965 | €290,655 | +€55,690 | +23.7% |
| Stocks and contracts in progress | 3 | €95,450 | €120,227 | +€24,777 | +26.0% |
| Stocks | 30/36 | €95,450 | €76,488 | -€18,962 | -19.9% |
| Contracts in progress | 37 | - | €43,739 | +€43,739 | |
| Amounts receivable within one year | 40/41 | €63,775 | €59,353 | -€4,422 | -6.9% |
| Trade receivables | 40 | €63,775 | €44,787 | -€18,988 | -29.8% |
| Other amounts receivable | 41 | - | €14,566 | +€14,566 | |
| Cash at bank and in hand | 54/58 | €51,718 | €96,225 | +€44,507 | +86.1% |
| Deferred charges and accrued income | 490/1 | €24,023 | €14,851 | -€9,172 | -38.2% |
| Total equity and liabilities | 10/49 | €663,815 | €721,000 | +€57,185 | +8.6% |
| Equity | 10/15 | €506,108 | €561,862 | +€55,754 | +11.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Other | 1109/19 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €413,785 | €500,362 | +€86,577 | +20.9% |
| Non-distributable reserves | 130/1 | €15,200 | €15,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,200 | €15,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,185 | €79,180 | +€39,995 | +102.1% |
| Distributable reserves | 133 | €359,400 | €405,981 | +€46,582 | +13.0% |
| Profit (loss) carried forward | 14 | €30,823 | - | -€30,823 | |
| Amounts payable | 17/49 | €157,707 | €159,139 | +€1,431 | +0.9% |
| Amounts payable after more than one year | 17 | €48,240 | €34,183 | -€14,056 | -29.1% |
| Financial debts | 170/4 | €48,240 | €34,183 | -€14,056 | -29.1% |
| Amounts payable within one year | 42/48 | €109,468 | €124,955 | +€15,487 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €19,381 | €14,056 | -€5,324 | -27.5% |
| Trade debts | 44 | €2,403 | €343 | -€2,060 | -85.7% |
| Suppliers | 440/4 | €2,403 | €343 | -€2,060 | -85.7% |
| Taxes, remuneration and social security | 45 | €77,691 | €91,139 | +€13,448 | +17.3% |
| Taxes | 450/3 | €57,777 | €76,373 | +€18,597 | +32.2% |
| Remuneration and social security | 454/9 | €19,915 | €14,766 | -€5,149 | -25.9% |
| Other amounts payable | 47/48 | €9,993 | €19,417 | +€9,424 | +94.3% |
| Remuneration, social security and pensions | 62 | €235,327 | €206,669 | -€28,658 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,570 | €183 | -€81,387 | -99.8% |
| Other operating charges | 640/8 | €9,184 | €7,934 | -€1,250 | -13.6% |
| Gross operating margin | 9900 | €313,181 | €347,544 | +€34,363 | +11.0% |
| Operating profit (loss) | 9901 | -€12,900 | €132,758 | +€145,658 | |
| Financial income | 75/76B | €7,022 | €26,830 | +€19,808 | +282.1% |
| Recurring financial income | 75 | €3,322 | €4,815 | +€1,494 | +45.0% |
| Non-recurring financial income | 76B | €3,700 | €22,015 | +€18,315 | +495.0% |
| Financial charges | 65/66B | €12,585 | €8,621 | -€3,965 | -31.5% |
| Recurring financial charges | 65 | €12,585 | €8,621 | -€3,965 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,464 | €150,967 | +€169,431 | |
| Transfer from deferred taxes | 780 | €249 | - | -€249 | |
| Income taxes | 67/77 | €12,962 | €43,485 | +€30,523 | +235.5% |
| Profit (loss) for the period | 9904 | -€31,177 | €107,482 | +€138,659 | |
| Transfer from tax-exempt reserves | 789 | €62,000 | - | -€62,000 | |
| Transfer to tax-exempt reserves | 689 | - | €39,995 | +€39,995 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,823 | €67,487 | +€36,664 | +118.9% |
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.