JAPEC: what changed
What changed
JAPEC
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€466,956
2024 · €12.7m-€12.2m
Equity
€14.1m
2024 · €13.6m+€466,956
Cash
€5,868
2024 · €79,378-€73,510
Balance sheet total
€15.0m
2024 · €14.5m+€509,428
Largest movements
Assets
- Current investments +€1.2m
up €1.2m (+9.7%), from €12.7m to €14.0m
- Receivables within one year -€654,796
down €654,796 (-95.8%), from €683,575 to €28,779
of which Other amounts receivable: -€654,941
Equity and liabilities
- Reserves +€466,956
up €466,956 (+3.4%), from €13.6m to €14.0m
of which Distributable reserves: +€466,956
Income statement
- Financial income -€12.2m
down €12.2m (-95.7%), from €12.7m to €546,631
- Taxes +€18,012
up €18,012 (+37.1%), from €48,562 to €66,574
- Financial charges -€4,258
down €4,258 (-5.6%), from €76,401 to €72,143
- Turnover +€1,720
up €1,720 (+2.7%), from €62,720 to €64,440
- Services and other goods +€876
up €876 (+25.8%), from €3,396 to €4,272
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€12.7m
Turnover
+€1,720
Services and other goods
-€876
Other operating charges
-€33
Financial income
-€12.2m
Financial charges
+€4,258
Taxes
-€18,012
Result 2025
€466,956
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.1m
Investment
-€1.2m
Financing
+€45,913
Cash 2024
€79,378
From operations (derived)
+€1.1m
Net result for the year
+€466,956
Receivables within one year
+€654,796
Smaller working-capital items
+€579
Accrued charges and deferred income
-€4,020
Investment (derived)
-€1.2m
Current investments
-€1.2m
Financing
+€45,913
Debts after one year
+€45,913
Cash 2025
€5,868
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,532,559 | €15,041,987 | +€509,428 | +3.5% |
| Fixed assets | 21/28 | €1,047,924 | €1,047,924 | = | 0.0% |
| Financial fixed assets | 28 | €1,047,924 | €1,047,924 | = | 0.0% |
| Affiliated companies | 280/1 | €1,047,924 | €1,047,924 | = | 0.0% |
| Participating interests | 280 | €1,047,924 | €1,047,924 | = | 0.0% |
| Current assets | 29/58 | €13,484,634 | €13,994,062 | +€509,428 | +3.8% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €683,575 | €28,779 | -€654,796 | -95.8% |
| Trade receivables | 40 | €6,389 | €6,534 | +€145 | +2.3% |
| Other amounts receivable | 41 | €677,186 | €22,245 | -€654,941 | -96.7% |
| Current investments | 50/53 | €12,721,681 | €13,959,415 | +€1.2m | +9.7% |
| Other investments | 51/53 | €12,721,681 | €13,959,415 | +€1.2m | +9.7% |
| Cash at bank and in hand | 54/58 | €79,378 | €5,868 | -€73,510 | -92.6% |
| Total equity and liabilities | 10/49 | €14,532,559 | €15,041,987 | +€509,428 | +3.5% |
| Equity | 10/15 | €13,614,817 | €14,081,773 | +€466,956 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €13,552,817 | €14,019,773 | +€466,956 | +3.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €13,546,617 | €14,013,573 | +€466,956 | +3.4% |
| Amounts payable | 17/49 | €917,741 | €960,214 | +€42,472 | +4.6% |
| Amounts payable after more than one year | 17 | €848,598 | €894,511 | +€45,913 | +5.4% |
| Financial debts | 170/4 | €848,598 | €894,511 | +€45,913 | +5.4% |
| Other loans | 174 | €848,598 | €894,511 | +€45,913 | +5.4% |
| Amounts payable within one year | 42/48 | €3,553 | €4,132 | +€579 | +16.3% |
| Trade debts | 44 | €304 | €898 | +€594 | +195% |
| Suppliers | 440/4 | €304 | €898 | +€594 | +195% |
| Taxes, remuneration and social security | 45 | €3,249 | €3,234 | -€15 | -0.5% |
| Taxes | 450/3 | €3,249 | €3,234 | -€15 | -0.5% |
| Accrued charges and deferred income | 492/3 | €65,591 | €61,571 | -€4,020 | -6.1% |
| Operating income | 70/76A | €62,720 | €64,440 | +€1,720 | +2.7% |
| Turnover | 70 | €62,720 | €64,440 | +€1,720 | +2.7% |
| Operating charges | 60/66A | €4,489 | €5,399 | +€909 | +20.3% |
| Services and other goods | 61 | €3,396 | €4,272 | +€876 | +25.8% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Operating profit (loss) | 9901 | €58,231 | €59,041 | +€811 | +1.4% |
| Financial income | 75/76B | €12,737,639 | €546,631 | -€12.2m | -95.7% |
| Recurring financial income | 75 | €12,737,639 | €546,631 | -€12.2m | -95.7% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | €2,398,038 | €279,397 | -€2.1m | -88.3% |
| Other financial income | 752/9 | €10,339,601 | €267,234 | -€10.1m | -97.4% |
| Financial charges | 65/66B | €76,401 | €72,143 | -€4,258 | -5.6% |
| Recurring financial charges | 65 | €76,401 | €72,143 | -€4,258 | -5.6% |
| Debt charges | 650 | €65,591 | €61,571 | -€4,020 | -6.1% |
| Other financial charges | 652/9 | €10,811 | €10,572 | -€238 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €12,719,469 | €533,530 | -€12.2m | -95.8% |
| Income taxes | 67/77 | €48,562 | €66,574 | +€18,012 | +37.1% |
| Taxes | 670/3 | €48,562 | €66,574 | +€18,012 | +37.1% |
| Profit (loss) for the period | 9904 | €12,670,907 | €466,956 | -€12.2m | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,670,907 | €466,956 | -€12.2m | -96.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.