JANA: 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.
What changed
JANA
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€16.7m
2024 · €5.9m+€10.8m
Equity
€80.3m
2024 · €65.5m+€14.8m
Cash
€255,068
2024 · €426,072-€171,004
Balance sheet total
€83.0m
2024 · €67.2m+€15.8m
Largest movements
Assets
- Current investments +€17.5m
up €17.5m (+100%), from €17.5m to €35.0m
- Receivables within one year -€1.1m
down €1.1m (-17.2%), from €6.3m to €5.3m
of which Trade receivables: -€868,080
Equity and liabilities
- Reserves +€14.8m
up €14.8m (+24.4%), from €60.6m to €75.4m
of which Distributable reserves: +€14.8m
Income statement
- Financial income +€8.0m
up €8.0m (+132%), from €6.1m to €14.1m
- Gross operating margin +€3.0m
up €3.0m (+107%), from €2.8m to €5.9m
- Taxes +€280,306
up €280,306 (+179%), from €156,682 to €436,988
- Staff costs +€168,692
up €168,692 (+8.4%), from €2.0m to €2.2m
- Depreciation -€158,221
down €158,221 (-25.5%), from €620,870 to €462,649
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.
Result 2024
€5.9m
Gross operating margin
+€3.0m
Staff costs
-€168,692
Depreciation
+€158,221
Other operating charges
-€10,809
Financial income
+€8.0m
Financial charges
+€2,934
Taxes
-€280,306
Result 2025
€16.7m
raises the resultlowers the result
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.
From operations
+€19.3m
Investment
-€17.6m
Financing
-€1.9m
Cash 2024
€426,072
From operations (derived)
+€19.3m
Net result for the year
+€16.7m
Depreciation
+€462,649
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€64,748
Smaller working-capital items
-€26,893
Tax, wage and social debts
+€233,083
Other debts
+€790,311
Investment (derived)
-€17.6m
Investment in fixed assets (net)
-€95,043
Current investments
-€17.5m
Financing
-€1.9m
Contributions, distributions and other
-€1.9m
Cash 2025
€255,068
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,201,538 | €83,004,483 | +€15.8m | +23.5% |
| Fixed assets | 21/28 | €42,794,608 | €42,427,003 | -€367,605 | -0.9% |
| Tangible fixed assets | 22/27 | €13,637,507 | €13,269,901 | -€367,605 | -2.7% |
| Land and buildings | 22 | €13,637,507 | €13,269,901 | -€367,605 | -2.7% |
| Financial fixed assets | 28 | €29,157,102 | €29,157,102 | = | 0.0% |
| Current assets | 29/58 | €24,406,930 | €40,577,480 | +€16.2m | +66.3% |
| Amounts receivable within one year | 40/41 | €6,344,894 | €5,251,196 | -€1.1m | -17.2% |
| Trade receivables | 40 | €1,492,351 | €624,271 | -€868,080 | -58.2% |
| Other amounts receivable | 41 | €4,852,543 | €4,626,925 | -€225,618 | -4.6% |
| Current investments | 50/53 | €17,500,000 | €35,000,000 | +€17.5m | +100% |
| Cash at bank and in hand | 54/58 | €426,072 | €255,068 | -€171,004 | -40.1% |
| Deferred charges and accrued income | 490/1 | €135,964 | €71,216 | -€64,748 | -47.6% |
| Total equity and liabilities | 10/49 | €67,201,538 | €83,004,483 | +€15.8m | +23.5% |
| Equity | 10/15 | €65,502,992 | €80,309,436 | +€14.8m | +22.6% |
| Contributions | 10/11 | €4,900,000 | €4,900,000 | = | 0.0% |
| Capital | 10 | €4,900,000 | €4,900,000 | = | 0.0% |
| Issued capital | 100 | €4,900,000 | €4,900,000 | = | 0.0% |
| Reserves | 13 | €60,602,992 | €75,409,436 | +€14.8m | +24.4% |
| Non-distributable reserves | 130/1 | €490,000 | €490,000 | = | 0.0% |
| Legal reserve | 130 | €490,000 | €490,000 | = | 0.0% |
| Distributable reserves | 133 | €60,112,992 | €74,919,436 | +€14.8m | +24.6% |
| Amounts payable | 17/49 | €1,698,546 | €2,695,046 | +€996,500 | +58.7% |
| Amounts payable within one year | 42/48 | €1,693,605 | €2,692,708 | +€999,103 | +59.0% |
| Trade debts | 44 | €274,795 | €250,504 | -€24,291 | -8.8% |
| Suppliers | 440/4 | €274,795 | €250,504 | -€24,291 | -8.8% |
| Taxes, remuneration and social security | 45 | €354,289 | €587,372 | +€233,083 | +65.8% |
| Taxes | 450/3 | €29,895 | €135,565 | +€105,670 | +353% |
| Remuneration and social security | 454/9 | €324,394 | €451,807 | +€127,413 | +39.3% |
| Other amounts payable | 47/48 | €1,064,521 | €1,854,832 | +€790,311 | +74.2% |
| Accrued charges and deferred income | 492/3 | €4,941 | €2,338 | -€2,603 | -52.7% |
| Non-recurring operating income | 76A | - | €173,000 | +€173,000 | |
| Remuneration, social security and pensions | 62 | €2,007,441 | €2,176,133 | +€168,692 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €620,870 | €462,649 | -€158,221 | -25.5% |
| Other operating charges | 640/8 | €220,823 | €231,633 | +€10,809 | +4.9% |
| Gross operating margin | 9900 | €2,846,270 | €5,879,295 | +€3.0m | +107% |
| Operating profit (loss) | 9901 | -€2,864 | €3,008,881 | +€3.0m | |
| Financial income | 75/76B | €6,066,861 | €14,087,431 | +€8.0m | +132% |
| Recurring financial income | 75 | €6,066,861 | €14,087,431 | +€8.0m | +132% |
| Financial charges | 65/66B | €5,813 | €2,879 | -€2,934 | -50.5% |
| Recurring financial charges | 65 | €5,813 | €2,879 | -€2,934 | -50.5% |
| Profit (loss) for the period before taxes | 9903 | €6,058,184 | €17,093,432 | +€11.0m | +182% |
| Income taxes | 67/77 | €156,682 | €436,988 | +€280,306 | +179% |
| Profit (loss) for the period | 9904 | €5,901,501 | €16,656,444 | +€10.8m | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €5,901,501 | €16,656,444 | +€10.8m | +182% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.