JANMAS: 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.
JANMAS
Largest movements
- Tangible fixed assets -€59,309
down €59,309 (-5.8%), from €1.0m to €971,290
- Cash +€58,280
up €58,280 (+18.1%), from €322,781 to €381,061
mainly Depreciation (+€73,725) and Net result for the year (+€71,962)
- Reserves +€71,962
up €71,962 (+14.2%), from €505,910 to €577,872
of which Distributable reserves: +€71,962
- Debts after one year -€46,666
no longer reported in 2025 (was €46,666)
- Current portion of long-term debt -€33,334
down €33,334 (-41.7%), from €80,000 to €46,666
- Gross operating margin -€5,078
down €5,078 (-2.7%), from €190,410 to €185,331
- Financial income -€4,444
down €4,444 (-50.3%), from €8,836 to €4,392
- Taxes -€2,246
down €2,246 (-8.5%), from €26,350 to €24,103
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 | €1,365,385 | €1,365,859 | +€474 | 0.0% |
| Fixed assets | 21/28 | €1,033,849 | €974,540 | -€59,309 | -5.7% |
| Tangible fixed assets | 22/27 | €1,030,599 | €971,290 | -€59,309 | -5.8% |
| Land and buildings | 22 | €1,030,599 | €971,290 | -€59,309 | -5.8% |
| Financial fixed assets | 28 | €3,250 | €3,250 | = | 0.0% |
| Current assets | 29/58 | €331,536 | €391,319 | +€59,783 | +18.0% |
| Amounts receivable within one year | 40/41 | €4,045 | €5,413 | +€1,368 | +33.8% |
| Trade receivables | 40 | €3,603 | €4,455 | +€853 | +23.7% |
| Other amounts receivable | 41 | €443 | €958 | +€516 | +116% |
| Cash at bank and in hand | 54/58 | €322,781 | €381,061 | +€58,280 | +18.1% |
| Deferred charges and accrued income | 490/1 | €4,709 | €4,844 | +€135 | +2.9% |
| Total equity and liabilities | 10/49 | €1,365,385 | €1,365,859 | +€474 | 0.0% |
| Equity | 10/15 | €1,124,510 | €1,196,472 | +€71,962 | +6.4% |
| Contributions | 10/11 | €618,600 | €618,600 | = | 0.0% |
| Reserves | 13 | €505,910 | €577,872 | +€71,962 | +14.2% |
| Tax-exempt reserves | 132 | €162,487 | €162,487 | = | 0.0% |
| Distributable reserves | 133 | €343,423 | €415,385 | +€71,962 | +21.0% |
| Provisions and deferred taxes | 16 | €49,829 | €49,829 | = | 0.0% |
| Deferred taxes | 168 | €49,829 | €49,829 | = | 0.0% |
| Amounts payable | 17/49 | €191,046 | €119,558 | -€71,488 | -37.4% |
| Amounts payable after more than one year | 17 | €46,666 | - | -€46,666 | |
| Financial debts | 170/4 | €46,666 | - | -€46,666 | |
| Amounts payable within one year | 42/48 | €138,642 | €113,665 | -€24,977 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €80,000 | €46,666 | -€33,334 | -41.7% |
| Trade debts | 44 | €1,035 | €5,010 | +€3,975 | +384% |
| Suppliers | 440/4 | €1,035 | €5,010 | +€3,975 | +384% |
| Taxes, remuneration and social security | 45 | €7,478 | €7,799 | +€320 | +4.3% |
| Taxes | 450/3 | €7,478 | €7,799 | +€320 | +4.3% |
| Other amounts payable | 47/48 | €50,129 | €54,190 | +€4,061 | +8.1% |
| Accrued charges and deferred income | 492/3 | €5,737 | €5,893 | +€156 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,946 | €73,725 | +€779 | +1.1% |
| Other operating charges | 640/8 | €17,536 | €17,759 | +€223 | +1.3% |
| Gross operating margin | 9900 | €190,410 | €185,331 | -€5,078 | -2.7% |
| Operating profit (loss) | 9901 | €99,928 | €93,847 | -€6,081 | -6.1% |
| Financial income | 75/76B | €8,836 | €4,392 | -€4,444 | -50.3% |
| Recurring financial income | 75 | €8,836 | €4,392 | -€4,444 | -50.3% |
| Financial charges | 65/66B | €3,399 | €2,174 | -€1,226 | -36.1% |
| Recurring financial charges | 65 | €3,399 | €2,174 | -€1,226 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €105,365 | €96,065 | -€9,300 | -8.8% |
| Income taxes | 67/77 | €26,350 | €24,103 | -€2,246 | -8.5% |
| Profit (loss) for the period | 9904 | €79,015 | €71,962 | -€7,053 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,015 | €71,962 | -€7,053 | -8.9% |
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 14 October 2026 via checked.be.