JAMICO: 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.
JAMICO
Largest movements
- Receivables within one year +€97,524
up €97,524 (+315.0%), from €30,956 to €128,480
of which Trade receivables: +€84,784
- Cash -€39,470
down €39,470 (-55.3%), from €71,408 to €31,938
mainly Receivables within one year (-€97,524) and Investment in fixed assets (net) (-€53,069)
- Tangible fixed assets -€19,728
down €19,728 (-5.8%), from €339,901 to €320,172
of which Land and buildings: -€24,249
- Trade debts +€58,655
up €58,655 (+134.4%), from €43,647 to €102,302
- Debts after one year -€28,259
down €28,259 (-18.2%), from €155,334 to €127,076
- Current portion of long-term debt +€11,087
up €11,087 (+40.8%), from €27,193 to €38,280
- Advances received -€6,969
down €6,969 (-68.0%), from €10,250 to €3,281
- Gross operating margin -€23,529
down €23,529 (-9.2%), from €256,544 to €233,016
- Depreciation +€21,219
up €21,219 (+38.2%), from €55,479 to €76,698
- Staff costs +€14,578
up €14,578 (+12.3%), from €118,187 to €132,765
- Taxes -€8,194
down €8,194 (-82.3%), from €9,959 to €1,765
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 | €453,670 | €490,725 | +€37,055 | +8.2% |
| Fixed assets | 21/28 | €344,887 | €321,259 | -€23,628 | -6.9% |
| Tangible fixed assets | 22/27 | €339,901 | €320,172 | -€19,728 | -5.8% |
| Land and buildings | 22 | €190,259 | €166,010 | -€24,249 | -12.7% |
| Plant, machinery and equipment | 23 | €62,713 | €50,029 | -€12,684 | -20.2% |
| Furniture and vehicles | 24 | €86,928 | €104,134 | +€17,205 | +19.8% |
| Financial fixed assets | 28 | €4,987 | €1,087 | -€3,900 | -78.2% |
| Current assets | 29/58 | €108,782 | €169,466 | +€60,683 | +55.8% |
| Stocks and contracts in progress | 3 | €6,418 | €6,503 | +€85 | +1.3% |
| Stocks | 30/36 | €6,418 | €6,503 | +€85 | +1.3% |
| Amounts receivable within one year | 40/41 | €30,956 | €128,480 | +€97,524 | +315.0% |
| Trade receivables | 40 | €24,803 | €109,587 | +€84,784 | +341.8% |
| Other amounts receivable | 41 | €6,153 | €18,893 | +€12,740 | +207.0% |
| Cash at bank and in hand | 54/58 | €71,408 | €31,938 | -€39,470 | -55.3% |
| Deferred charges and accrued income | 490/1 | €0 | €2,546 | +€2,546 | |
| Total equity and liabilities | 10/49 | €453,670 | €490,725 | +€37,055 | +8.2% |
| Equity | 10/15 | €200,035 | €203,453 | +€3,419 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €193,835 | €197,253 | +€3,419 | +1.8% |
| Tax-exempt reserves | 132 | €42,890 | €42,890 | = | 0.0% |
| Distributable reserves | 133 | €150,945 | €154,363 | +€3,419 | +2.3% |
| Amounts payable | 17/49 | €253,635 | €287,272 | +€33,637 | +13.3% |
| Amounts payable after more than one year | 17 | €155,334 | €127,076 | -€28,259 | -18.2% |
| Financial debts | 170/4 | €155,334 | €127,076 | -€28,259 | -18.2% |
| Amounts payable within one year | 42/48 | €98,301 | €160,196 | +€61,895 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €27,193 | €38,280 | +€11,087 | +40.8% |
| Trade debts | 44 | €43,647 | €102,302 | +€58,655 | +134.4% |
| Suppliers | 440/4 | €43,647 | €102,302 | +€58,655 | +134.4% |
| Advances received on contracts in progress | 46 | €10,250 | €3,281 | -€6,969 | -68.0% |
| Taxes, remuneration and social security | 45 | €5,842 | €8,251 | +€2,408 | +41.2% |
| Taxes | 450/3 | €1,026 | €3,256 | +€2,230 | +217.3% |
| Remuneration and social security | 454/9 | €4,816 | €4,994 | +€178 | +3.7% |
| Other amounts payable | 47/48 | €11,368 | €8,083 | -€3,286 | -28.9% |
| Remuneration, social security and pensions | 62 | €118,187 | €132,765 | +€14,578 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,479 | €76,698 | +€21,219 | +38.2% |
| Other operating charges | 640/8 | €8,771 | €8,086 | -€685 | -7.8% |
| Non-recurring operating charges | 66A | €22,000 | €0 | -€22,000 | -100.0% |
| Gross operating margin | 9900 | €256,544 | €233,016 | -€23,529 | -9.2% |
| Operating profit (loss) | 9901 | €52,108 | €15,467 | -€36,641 | -70.3% |
| Financial income | 75/76B | €4 | €20 | +€16 | +450.6% |
| Recurring financial income | 75 | €4 | €20 | +€16 | +450.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €8,357 | €10,303 | +€1,946 | +23.3% |
| Recurring financial charges | 65 | €8,357 | €10,303 | +€1,946 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €43,755 | €5,184 | -€38,571 | -88.2% |
| Income taxes | 67/77 | €9,959 | €1,765 | -€8,194 | -82.3% |
| Profit (loss) for the period | 9904 | €33,795 | €3,419 | -€30,377 | -89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,795 | €3,419 | -€30,377 | -89.9% |
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 3 October 2026 via checked.be.