JANI: 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.
JANI
Largest movements
- Tangible fixed assets -€479,963
down €479,963 (-51.4%), from €933,283 to €453,320
of which Land and buildings: -€459,137
- Receivables within one year +€336,860
up €336,860 (+48.8%), from €690,850 to €1.0m
of which Other amounts receivable: +€336,695
- Receivables after one year -€118,490
down €118,490 (-75.8%), from €156,275 to €37,785
- Cash +€65,367
up €65,367 (+23.8%), from €274,817 to €340,185
mainly Investment in fixed assets (net) (+€447,645) and Net result for the year (+€297,472)
- Short-term financial debts -€309,239
down €309,239 (-60.5%), from €511,021 to €201,782
- Reserves +€297,472
up €297,472 (+48.6%), from €612,599 to €910,071
of which Distributable reserves: +€370,696
- Debts after one year -€202,081
down €202,081 (-50.3%), from €402,091 to €200,010
of which Financial debts: -€202,081
- Advances received +€193,750
up €193,750 (+60.4%), from €320,950 to €514,700
- Current portion of long-term debt -€148,402
down €148,402 (-87.4%), from €169,852 to €21,451
- Gross operating margin +€346,371
up €346,371 (+269.4%), from €128,574 to €474,945
- Taxes +€117,983
up €117,983 (+443.7%), from €26,591 to €144,574
- Financial charges +€19,393
up €19,393 (+89.8%), from €21,590 to €40,983
- Depreciation -€11,300
down €11,300 (-25.7%), from €43,919 to €32,619
- Financial income +€5,943
up €5,943 (+29.1%), from €20,454 to €26,396
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 | €2,697,891 | €2,507,629 | -€190,263 | -7.1% |
| Fixed assets | 21/28 | €933,583 | €453,320 | -€480,263 | -51.4% |
| Tangible fixed assets | 22/27 | €933,283 | €453,320 | -€479,963 | -51.4% |
| Land and buildings | 22 | €816,547 | €357,410 | -€459,137 | -56.2% |
| Plant, machinery and equipment | 23 | €2,781 | €3,291 | +€510 | +18.3% |
| Furniture and vehicles | 24 | €18,518 | €8,137 | -€10,381 | -56.1% |
| Other tangible fixed assets | 26 | €95,437 | €84,482 | -€10,955 | -11.5% |
| Financial fixed assets | 28 | €300 | €0 | -€300 | -100.0% |
| Current assets | 29/58 | €1,764,308 | €2,054,309 | +€290,001 | +16.4% |
| Amounts receivable after more than one year | 29 | €156,275 | €37,785 | -€118,490 | -75.8% |
| Other amounts receivable | 291 | €156,275 | €37,785 | -€118,490 | -75.8% |
| Stocks and contracts in progress | 3 | €620,888 | €620,888 | = | 0.0% |
| Stocks | 30/36 | €620,888 | €620,888 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €690,850 | €1,027,710 | +€336,860 | +48.8% |
| Trade receivables | 40 | €932 | €1,097 | +€165 | +17.7% |
| Other amounts receivable | 41 | €689,918 | €1,026,613 | +€336,695 | +48.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €274,817 | €340,185 | +€65,367 | +23.8% |
| Deferred charges and accrued income | 490/1 | €21,478 | €27,742 | +€6,263 | +29.2% |
| Total equity and liabilities | 10/49 | €2,697,891 | €2,507,629 | -€190,263 | -7.1% |
| Equity | 10/15 | €898,845 | €1,194,651 | +€295,806 | +32.9% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €612,599 | €910,071 | +€297,472 | +48.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,600 | €376 | -€73,224 | -99.5% |
| Distributable reserves | 133 | €537,139 | €907,836 | +€370,696 | +69.0% |
| Profit (loss) carried forward | 14 | €278,801 | €277,135 | -€1,666 | -0.6% |
| Provisions and deferred taxes | 16 | €211,574 | €187,166 | -€24,408 | -11.5% |
| Provisions for liabilities and charges | 160/5 | €187,166 | €187,166 | = | 0.0% |
| Pensions and similar obligations | 160 | €187,166 | €187,166 | = | 0.0% |
| Deferred taxes | 168 | €24,408 | €0 | -€24,408 | -100.0% |
| Amounts payable | 17/49 | €1,587,473 | €1,125,812 | -€461,661 | -29.1% |
| Amounts payable after more than one year | 17 | €402,091 | €200,010 | -€202,081 | -50.3% |
| Financial debts | 170/4 | €402,091 | €200,010 | -€202,081 | -50.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,173,846 | €915,223 | -€258,623 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €169,852 | €21,451 | -€148,402 | -87.4% |
| Financial debts | 43 | €511,021 | €201,782 | -€309,239 | -60.5% |
| Credit institutions | 430/8 | €511,021 | €201,782 | -€309,239 | -60.5% |
| Trade debts | 44 | €2,608 | €2,481 | -€127 | -4.9% |
| Suppliers | 440/4 | €2,608 | €2,481 | -€127 | -4.9% |
| Advances received on contracts in progress | 46 | €320,950 | €514,700 | +€193,750 | +60.4% |
| Taxes, remuneration and social security | 45 | €17,904 | €47,415 | +€29,512 | +164.8% |
| Taxes | 450/3 | €17,904 | €47,415 | +€29,512 | +164.8% |
| Other amounts payable | 47/48 | €151,511 | €127,393 | -€24,118 | -15.9% |
| Accrued charges and deferred income | 492/3 | €11,536 | €10,579 | -€956 | -8.3% |
| Non-recurring operating income | 76A | €268,800 | €482,800 | +€214,000 | +79.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,919 | €32,619 | -€11,300 | -25.7% |
| Other operating charges | 640/8 | €4,530 | €10,101 | +€5,571 | +123.0% |
| Gross operating margin | 9900 | €128,574 | €474,945 | +€346,371 | +269.4% |
| Operating profit (loss) | 9901 | €80,125 | €432,225 | +€352,100 | +439.4% |
| Financial income | 75/76B | €20,454 | €26,396 | +€5,943 | +29.1% |
| Recurring financial income | 75 | €20,454 | €26,396 | +€5,943 | +29.1% |
| Financial charges | 65/66B | €21,590 | €40,983 | +€19,393 | +89.8% |
| Recurring financial charges | 65 | €21,590 | €40,983 | +€19,393 | +89.8% |
| Profit (loss) for the period before taxes | 9903 | €78,988 | €417,638 | +€338,650 | +428.7% |
| Transfer from deferred taxes | 780 | €2,471 | €24,408 | +€21,937 | +887.8% |
| Income taxes | 67/77 | €26,591 | €144,574 | +€117,983 | +443.7% |
| Profit (loss) for the period | 9904 | €54,869 | €297,472 | +€242,604 | +442.2% |
| Transfer from tax-exempt reserves | 789 | €7,413 | €73,224 | +€65,811 | +887.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,281 | €370,696 | +€308,415 | +495.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.