JAPC: 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.
JAPC
Largest movements
- Receivables within one year +€53,073
up €53,073 (+1853.8%), from €2,863 to €55,936
of which Trade receivables: +€38,183
- Cash -€38,267
down €38,267 (-93.9%), from €40,752 to €2,485
mainly Receivables within one year (-€53,073) and Net result for the year (-€37,304)
- Tangible fixed assets -€11,298
down €11,298 (-27.6%), from €40,941 to €29,643
of which Furniture and vehicles: -€10,455
- Trade debts +€50,695
up €50,695 (+198.4%), from €25,557 to €76,252
- Profit (loss) carried forward -€37,304
down €37,304 (-227.4%), from -€16,406 to -€53,710
- Other debts -€19,012
down €19,012 (-19.8%), from €96,023 to €77,011
- Short-term financial debts +€13,701
new in 2025: €13,701
- Tax, wage and social debts -€5,314
down €5,314 (-74.5%), from €7,131 to €1,817
of which Taxes: -€4,627
- Gross operating margin -€24,849
down €24,849, from €16,292 to -€8,557
- Staff costs -€12,086
down €12,086 (-48.5%), from €24,927 to €12,841
- Write-downs +€11,734
up €11,734, from -€11,734 to €0
- Depreciation +€9,240
up €9,240 (+358.7%), from €2,576 to €11,816
- Financial income -€2,340
down €2,340 (-76.0%), from €3,078 to €738
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 | €130,854 | €133,621 | +€2,767 | +2.1% |
| Fixed assets | 21/28 | €42,988 | €31,172 | -€11,816 | -27.5% |
| Intangible fixed assets | 21 | €1,685 | €1,166 | -€519 | -30.8% |
| Tangible fixed assets | 22/27 | €40,941 | €29,643 | -€11,298 | -27.6% |
| Plant, machinery and equipment | 23 | €3,092 | €2,715 | -€377 | -12.2% |
| Furniture and vehicles | 24 | €30,599 | €20,144 | -€10,455 | -34.2% |
| Other tangible fixed assets | 26 | €7,250 | €6,784 | -€466 | -6.4% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €87,866 | €102,449 | +€14,583 | +16.6% |
| Stocks and contracts in progress | 3 | €43,499 | €43,236 | -€263 | -0.6% |
| Stocks | 30/36 | €43,499 | €43,236 | -€263 | -0.6% |
| Amounts receivable within one year | 40/41 | €2,863 | €55,936 | +€53,073 | +1853.8% |
| Trade receivables | 40 | €2,863 | €41,046 | +€38,183 | +1333.7% |
| Other amounts receivable | 41 | - | €14,890 | +€14,890 | |
| Cash at bank and in hand | 54/58 | €40,752 | €2,485 | -€38,267 | -93.9% |
| Deferred charges and accrued income | 490/1 | €752 | €791 | +€39 | +5.2% |
| Total equity and liabilities | 10/49 | €130,854 | €133,621 | +€2,767 | +2.1% |
| Equity | 10/15 | €2,144 | -€35,160 | -€37,304 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,406 | -€53,710 | -€37,304 | -227.4% |
| Amounts payable | 17/49 | €128,710 | €168,781 | +€40,071 | +31.1% |
| Amounts payable within one year | 42/48 | €128,710 | €168,781 | +€40,071 | +31.1% |
| Financial debts | 43 | - | €13,701 | +€13,701 | |
| Credit institutions | 430/8 | - | €13,701 | +€13,701 | |
| Trade debts | 44 | €25,557 | €76,252 | +€50,695 | +198.4% |
| Suppliers | 440/4 | €25,557 | €76,252 | +€50,695 | +198.4% |
| Taxes, remuneration and social security | 45 | €7,131 | €1,817 | -€5,314 | -74.5% |
| Taxes | 450/3 | €4,841 | €214 | -€4,627 | -95.6% |
| Remuneration and social security | 454/9 | €2,290 | €1,603 | -€687 | -30.0% |
| Other amounts payable | 47/48 | €96,023 | €77,011 | -€19,012 | -19.8% |
| Remuneration, social security and pensions | 62 | €24,927 | €12,841 | -€12,086 | -48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,576 | €11,816 | +€9,240 | +358.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,734 | €0 | +€11,734 | |
| Other operating charges | 640/8 | €820 | €874 | +€54 | +6.6% |
| Gross operating margin | 9900 | €16,292 | -€8,557 | -€24,849 | |
| Operating profit (loss) | 9901 | -€297 | -€34,089 | -€33,792 | -11366.9% |
| Financial income | 75/76B | €3,078 | €738 | -€2,340 | -76.0% |
| Recurring financial income | 75 | €3,078 | €738 | -€2,340 | -76.0% |
| Financial charges | 65/66B | €2,232 | €3,745 | +€1,514 | +67.8% |
| Recurring financial charges | 65 | €2,232 | €3,745 | +€1,514 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €549 | -€37,096 | -€37,645 | |
| Income taxes | 67/77 | €5 | €208 | +€203 | +3703.3% |
| Profit (loss) for the period | 9904 | €544 | -€37,304 | -€37,848 | |
| Profit (loss) for the period to be appropriated | 9905 | €544 | -€37,304 | -€37,848 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.