Japeco: 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.
Japeco
Largest movements
- Tangible fixed assets +€3.2m
up €3.2m (+240.7%), from €1.3m to €4.5m
of which Assets under construction and advance payments: +€2.3m
- Cash -€2.9m
down €2.9m (-96.5%), from €3.0m to €105,394
mainly Investment in fixed assets (net) (-€3.5m) and Current investments (-€2.7m)
- Current investments +€2.7m
up €2.7m (+29709920.8%), from €9 to €2.7m
- Receivables within one year +€270,218
up €270,218 (+36.2%), from €746,131 to €1.0m
of which Other amounts receivable: +€280,087
- Financial fixed assets +€251,032
up €251,032 (+16.0%), from €1.6m to €1.8m
- Reserves +€3.6m
up €3.6m (+70.3%), from €5.2m to €8.8m
of which Distributable reserves: +€3.4m
- Other debts -€2.2m
down €2.2m (-98.7%), from €2.2m to €30,000
- Current portion of long-term debt +€2.0m
up €2.0m (+1527.1%), from €131,739 to €2.1m
- Tax, wage and social debts +€165,281
up €165,281 (+83.8%), from €197,259 to €362,540
- Trade debts +€136,645
up €136,645 (+411.1%), from €33,237 to €169,882
- Financial income +€1.9m
up €1.9m (+102.2%), from €1.9m to €3.8m
of which Financial income: +€1.7m
- Gross operating margin +€342,069
up €342,069 (+93.5%), from €365,815 to €707,883
- Taxes +€167,296
up €167,296 (+57.0%), from €293,517 to €460,813
- Financial charges +€72,537
up €72,537 (+219.7%), from €33,017 to €105,554
of which Financial charges: +€75,552
- Depreciation +€8,382
up €8,382 (+16.9%), from €49,498 to €57,880
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 | €8,523,224 | €12,263,215 | +€3.7m | +43.9% |
| Fixed assets | 21/28 | €2,878,554 | €6,288,929 | +€3.4m | +118.5% |
| Tangible fixed assets | 22/27 | €1,312,499 | €4,471,842 | +€3.2m | +240.7% |
| Land and buildings | 22 | €798,344 | €1,677,660 | +€879,316 | +110.1% |
| Plant, machinery and equipment | 23 | €18,913 | €16,468 | -€2,445 | -12.9% |
| Furniture and vehicles | 24 | €13,827 | €9,998 | -€3,829 | -27.7% |
| Other tangible fixed assets | 26 | €481,415 | €499,800 | +€18,385 | +3.8% |
| Assets under construction and advance payments | 27 | - | €2,267,916 | +€2.3m | |
| Financial fixed assets | 28 | €1,566,056 | €1,817,088 | +€251,032 | +16.0% |
| Current assets | 29/58 | €5,644,669 | €5,974,285 | +€329,616 | +5.8% |
| Amounts receivable after more than one year | 29 | €1,830,000 | €1,980,000 | +€150,000 | +8.2% |
| Trade receivables | 290 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,800,000 | €1,950,000 | +€150,000 | +8.3% |
| Amounts receivable within one year | 40/41 | €746,131 | €1,016,349 | +€270,218 | +36.2% |
| Trade receivables | 40 | €35,469 | €25,600 | -€9,869 | -27.8% |
| Other amounts receivable | 41 | €710,662 | €990,749 | +€280,087 | +39.4% |
| Current investments | 50/53 | €9 | €2,748,177 | +€2.7m | +29709920.8% |
| Cash at bank and in hand | 54/58 | €2,977,793 | €105,394 | -€2.9m | -96.5% |
| Deferred charges and accrued income | 490/1 | €90,737 | €124,366 | +€33,629 | +37.1% |
| Total equity and liabilities | 10/49 | €8,523,224 | €12,263,215 | +€3.7m | +43.9% |
| Equity | 10/15 | €5,184,561 | €8,825,195 | +€3.6m | +70.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,178,361 | €8,818,995 | +€3.6m | +70.3% |
| 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 | - | €205,945 | +€205,945 | |
| Distributable reserves | 133 | €5,176,501 | €8,611,189 | +€3.4m | +66.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €68,648 | +€68,648 | |
| Deferred taxes | 168 | - | €68,648 | +€68,648 | |
| Amounts payable | 17/49 | €3,338,662 | €3,369,372 | +€30,709 | +0.9% |
| Amounts payable after more than one year | 17 | €751,427 | €662,391 | -€89,036 | -11.8% |
| Financial debts | 170/4 | €557,834 | €515,016 | -€42,818 | -7.7% |
| Other amounts payable | 178/9 | €193,594 | €147,375 | -€46,218 | -23.9% |
| Amounts payable within one year | 42/48 | €2,587,235 | €2,705,898 | +€118,663 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €131,739 | €2,143,476 | +€2.0m | +1527.1% |
| Trade debts | 44 | €33,237 | €169,882 | +€136,645 | +411.1% |
| Suppliers | 440/4 | €33,237 | €169,882 | +€136,645 | +411.1% |
| Taxes, remuneration and social security | 45 | €197,259 | €362,540 | +€165,281 | +83.8% |
| Taxes | 450/3 | €197,259 | €362,540 | +€165,281 | +83.8% |
| Other amounts payable | 47/48 | €2,225,000 | €30,000 | -€2.2m | -98.7% |
| Accrued charges and deferred income | 492/3 | - | €1,083 | +€1,083 | |
| Non-recurring operating income | 76A | - | €283,175 | +€283,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,498 | €57,880 | +€8,382 | +16.9% |
| Other operating charges | 640/8 | €13,809 | €20,373 | +€6,564 | +47.5% |
| Gross operating margin | 9900 | €365,815 | €707,883 | +€342,069 | +93.5% |
| Operating profit (loss) | 9901 | €302,507 | €629,630 | +€327,123 | +108.1% |
| Financial income | 75/76B | €1,895,950 | €3,833,585 | +€1.9m | +102.2% |
| Recurring financial income | 75 | €1,895,950 | €3,639,629 | +€1.7m | +92.0% |
| Non-recurring financial income | 76B | - | €193,956 | +€193,956 | |
| Financial charges | 65/66B | €33,017 | €105,554 | +€72,537 | +219.7% |
| Recurring financial charges | 65 | €30,002 | €105,554 | +€75,552 | +251.8% |
| Non-recurring financial charges | 66B | €3,015 | €0 | -€3,015 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €2,165,441 | €4,357,660 | +€2.2m | +101.2% |
| Transfer from deferred taxes | 780 | - | €2,145 | +€2,145 | |
| Transfer to deferred taxes | 680 | - | €70,794 | +€70,794 | |
| Income taxes | 67/77 | €293,517 | €460,813 | +€167,296 | +57.0% |
| Profit (loss) for the period | 9904 | €1,871,924 | €3,828,199 | +€2.0m | +104.5% |
| Transfer from tax-exempt reserves | 789 | - | €6,436 | +€6,436 | |
| Transfer to tax-exempt reserves | 689 | - | €212,381 | +€212,381 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,871,924 | €3,622,254 | +€1.8m | +93.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.