JANAX: 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.
JANAX
Largest movements
- Receivables within one year -€591,394
down €591,394 (-93.9%), from €629,535 to €38,142
of which Trade receivables: -€606,937
- Stocks and contracts -€184,603
down €184,603 (-10.7%), from €1.7m to €1.5m
of which Contracts in progress: -€390,500
- Cash +€34,514
up €34,514 (+86.1%), from €40,084 to €74,598
mainly Receivables within one year (+€591,394) and Net result for the year (+€184,658)
- Trade debts -€524,957
down €524,957 (-77.7%), from €675,898 to €150,941
- Other debts -€426,975
down €426,975 (-46.7%), from €915,000 to €488,025
- Reserves +€184,658
up €184,658 (+185%), from €99,891 to €284,549
- Debts after one year +€72,460
up €72,460 (+11.6%), from €624,636 to €697,096
- Tax, wage and social debts -€31,332
down €31,332 (-93.0%), from €33,695 to €2,363
- Gross operating margin +€117,724
up €117,724 (+70.9%), from €165,970 to €283,694
- Taxes +€32,507
up €32,507 (+96.5%), from €33,695 to €66,202
- Financial charges -€10,644
down €10,644 (-27.2%), from €39,108 to €28,463
- Other operating charges +€3,772
up €3,772 (+630%), from €599 to €4,371
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 | €2,399,120 | €1,672,973 | -€726,146 | -30.3% |
| Current assets | 29/58 | €2,399,120 | €1,672,973 | -€726,146 | -30.3% |
| Stocks and contracts in progress | 3 | €1,729,500 | €1,544,897 | -€184,603 | -10.7% |
| Stocks | 30/36 | - | €205,897 | +€205,897 | |
| Contracts in progress | 37 | €1,729,500 | €1,339,000 | -€390,500 | -22.6% |
| Amounts receivable within one year | 40/41 | €629,535 | €38,142 | -€591,394 | -93.9% |
| Trade receivables | 40 | €607,188 | €251 | -€606,937 | -100.0% |
| Other amounts receivable | 41 | €22,348 | €37,891 | +€15,543 | +69.5% |
| Cash at bank and in hand | 54/58 | €40,084 | €74,598 | +€34,514 | +86.1% |
| Deferred charges and accrued income | 490/1 | - | €15,336 | +€15,336 | |
| Total equity and liabilities | 10/49 | €2,399,120 | €1,672,973 | -€726,146 | -30.3% |
| Equity | 10/15 | €149,891 | €334,549 | +€184,658 | +123% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €99,891 | €284,549 | +€184,658 | +185% |
| Distributable reserves | 133 | €99,891 | €284,549 | +€184,658 | +185% |
| Amounts payable | 17/49 | €2,249,229 | €1,338,425 | -€910,804 | -40.5% |
| Amounts payable after more than one year | 17 | €624,636 | €697,096 | +€72,460 | +11.6% |
| Financial debts | 170/4 | €624,636 | €697,096 | +€72,460 | +11.6% |
| Amounts payable within one year | 42/48 | €1,624,593 | €641,328 | -€983,265 | -60.5% |
| Trade debts | 44 | €675,898 | €150,941 | -€524,957 | -77.7% |
| Suppliers | 440/4 | €675,898 | €150,941 | -€524,957 | -77.7% |
| Taxes, remuneration and social security | 45 | €33,695 | €2,363 | -€31,332 | -93.0% |
| Taxes | 450/3 | €33,695 | €2,363 | -€31,332 | -93.0% |
| Other amounts payable | 47/48 | €915,000 | €488,025 | -€426,975 | -46.7% |
| Other operating charges | 640/8 | €599 | €4,371 | +€3,772 | +630% |
| Gross operating margin | 9900 | €165,970 | €283,694 | +€117,724 | +70.9% |
| Operating profit (loss) | 9901 | €165,371 | €279,323 | +€113,953 | +68.9% |
| Financial charges | 65/66B | €39,108 | €28,463 | -€10,644 | -27.2% |
| Recurring financial charges | 65 | €39,108 | €28,463 | -€10,644 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €126,263 | €250,860 | +€124,597 | +98.7% |
| Income taxes | 67/77 | €33,695 | €66,202 | +€32,507 | +96.5% |
| Profit (loss) for the period | 9904 | €92,568 | €184,658 | +€92,090 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,568 | €184,658 | +€92,090 | +99.5% |
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 13 October 2026 via checked.be.