JAMIN: 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.
JAMIN
Largest movements
- Cash +€106,946
up €106,946 (+79.4%), from €134,776 to €241,722
mainly Depreciation (+€69,753) and Receivables within one year (+€65,678)
- Tangible fixed assets -€68,594
down €68,594 (-7.1%), from €965,250 to €896,655
of which Land and buildings: -€67,789
- Receivables within one year -€65,678
down €65,678 (-45.2%), from €145,420 to €79,742
of which Trade receivables: -€57,807
- Debts after one year -€70,321
down €70,321 (-10.6%), from €662,899 to €592,578
- Trade debts +€21,202
up €21,202 (+35.7%), from €59,373 to €80,575
- Gross operating margin +€26,736
up €26,736 (+36.3%), from €73,592 to €100,328
- Provisions +€15,000
no longer reported in 2025 (was -€15,000)
- Depreciation -€5,862
down €5,862 (-7.8%), from €75,616 to €69,753
- Financial income -€1,326
down €1,326 (-30.1%), from €4,405 to €3,078
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 | €1,267,828 | €1,218,170 | -€49,658 | -3.9% |
| Fixed assets | 21/28 | €965,300 | €896,705 | -€68,594 | -7.1% |
| Tangible fixed assets | 22/27 | €965,250 | €896,655 | -€68,594 | -7.1% |
| Land and buildings | 22 | €961,023 | €893,234 | -€67,789 | -7.1% |
| Furniture and vehicles | 24 | €4,227 | €3,421 | -€806 | -19.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €302,528 | €321,465 | +€18,936 | +6.3% |
| Stocks and contracts in progress | 3 | €10,000 | - | -€10,000 | |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €145,420 | €79,742 | -€65,678 | -45.2% |
| Trade receivables | 40 | €136,100 | €78,293 | -€57,807 | -42.5% |
| Other amounts receivable | 41 | €9,320 | €1,450 | -€7,871 | -84.4% |
| Cash at bank and in hand | 54/58 | €134,776 | €241,722 | +€106,946 | +79.4% |
| Deferred charges and accrued income | 490/1 | €12,332 | - | -€12,332 | |
| Total equity and liabilities | 10/49 | €1,267,828 | €1,218,170 | -€49,658 | -3.9% |
| Equity | 10/15 | €442,017 | €444,300 | +€2,282 | +0.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €276,623 | €278,905 | +€2,282 | +0.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,242 | €36,791 | -€3,451 | -8.6% |
| Distributable reserves | 133 | €234,522 | €240,255 | +€5,733 | +2.4% |
| Profit (loss) carried forward | 14 | €146,802 | €146,802 | = | 0.0% |
| Provisions and deferred taxes | 16 | €16,208 | €15,329 | -€879 | -5.4% |
| Deferred taxes | 168 | €16,208 | €15,329 | -€879 | -5.4% |
| Amounts payable | 17/49 | €809,603 | €758,541 | -€51,062 | -6.3% |
| Amounts payable after more than one year | 17 | €662,899 | €592,578 | -€70,321 | -10.6% |
| Financial debts | 170/4 | €662,899 | €592,578 | -€70,321 | -10.6% |
| Amounts payable within one year | 42/48 | €135,579 | €143,413 | +€7,834 | +5.8% |
| Financial debts | 43 | €60,736 | €50,321 | -€10,415 | -17.1% |
| Credit institutions | 430/8 | €60,736 | €50,321 | -€10,415 | -17.1% |
| Trade debts | 44 | €59,373 | €80,575 | +€21,202 | +35.7% |
| Suppliers | 440/4 | €59,373 | €80,575 | +€21,202 | +35.7% |
| Taxes, remuneration and social security | 45 | €11,216 | €5,623 | -€5,592 | -49.9% |
| Taxes | 450/3 | €11,216 | €5,623 | -€5,592 | -49.9% |
| Other amounts payable | 47/48 | €4,255 | €6,894 | +€2,640 | +62.0% |
| Accrued charges and deferred income | 492/3 | €11,125 | €22,550 | +€11,425 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,616 | €69,753 | -€5,862 | -7.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,000 | - | +€15,000 | |
| Other operating charges | 640/8 | €15,585 | €15,508 | -€77 | -0.5% |
| Gross operating margin | 9900 | €73,592 | €100,328 | +€26,736 | +36.3% |
| Operating profit (loss) | 9901 | -€2,609 | €15,066 | +€17,675 | |
| Financial income | 75/76B | €4,405 | €3,078 | -€1,326 | -30.1% |
| Recurring financial income | 75 | €4,405 | €3,078 | -€1,326 | -30.1% |
| Financial charges | 65/66B | €16,002 | €15,860 | -€142 | -0.9% |
| Recurring financial charges | 65 | €16,002 | €15,860 | -€142 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,206 | €2,285 | +€16,491 | |
| Transfer from deferred taxes | 780 | €879 | €4,330 | +€3,451 | +393% |
| Income taxes | 67/77 | €311 | €882 | +€571 | +184% |
| Profit (loss) for the period | 9904 | -€13,638 | €5,733 | +€19,371 | |
| Transfer from tax-exempt reserves | 789 | €3,451 | - | -€3,451 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,187 | €5,733 | +€15,920 |
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 18 October 2026 via checked.be.