JAPI: 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.
JAPI
Largest movements
- Tangible fixed assets -€13,298
down €13,298 (-12.2%), from €108,748 to €95,450
of which Plant, machinery and equipment: -€7,327
- Cash -€9,981
down €9,981 (-31.6%), from €31,603 to €21,623
mainly Trade debts (-€11,669) and Debts after one year (-€9,913)
- Receivables within one year +€8,815
up €8,815 (+105%), from €8,381 to €17,196
of which Trade receivables: +€6,538
- Financial fixed assets +€3,824
up €3,824 (+57.9%), from €6,600 to €10,424
- Stocks and contracts +€1,870
up €1,870 (+6.3%), from €29,627 to €31,497
- Other debts +€22,171
up €22,171 (+29.4%), from €75,428 to €97,599
- Trade debts -€11,669
down €11,669 (-89.2%), from €13,079 to €1,410
- Debts after one year -€9,913
down €9,913 (-43.2%), from €22,956 to €13,043
- Tax, wage and social debts -€9,449
down €9,449 (-22.1%), from €42,838 to €33,389
of which Remuneration and social security: -€13,546
- Profit (loss) carried forward -€5,534
down €5,534 (-161%), from -€3,440 to -€8,973
- Gross operating margin -€61,655
down €61,655 (-19.7%), from €312,901 to €251,246
- Staff costs -€45,380
down €45,380 (-16.6%), from €273,179 to €227,799
- Financial charges -€3,747
down €3,747 (-32.6%), from €11,505 to €7,758
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 | €186,282 | €178,241 | -€8,041 | -4.3% |
| Fixed assets | 21/28 | €115,348 | €105,874 | -€9,474 | -8.2% |
| Tangible fixed assets | 22/27 | €108,748 | €95,450 | -€13,298 | -12.2% |
| Land and buildings | 22 | €35,435 | €30,786 | -€4,649 | -13.1% |
| Plant, machinery and equipment | 23 | €70,180 | €62,853 | -€7,327 | -10.4% |
| Furniture and vehicles | 24 | €3,133 | €1,810 | -€1,323 | -42.2% |
| Financial fixed assets | 28 | €6,600 | €10,424 | +€3,824 | +57.9% |
| Current assets | 29/58 | €70,934 | €72,367 | +€1,433 | +2.0% |
| Stocks and contracts in progress | 3 | €29,627 | €31,497 | +€1,870 | +6.3% |
| Stocks | 30/36 | €29,627 | €31,497 | +€1,870 | +6.3% |
| Amounts receivable within one year | 40/41 | €8,381 | €17,196 | +€8,815 | +105% |
| Trade receivables | 40 | €2,073 | €8,611 | +€6,538 | +315% |
| Other amounts receivable | 41 | €6,308 | €8,585 | +€2,277 | +36.1% |
| Cash at bank and in hand | 54/58 | €31,603 | €21,623 | -€9,981 | -31.6% |
| Deferred charges and accrued income | 490/1 | €1,322 | €2,051 | +€729 | +55.1% |
| Total equity and liabilities | 10/49 | €186,282 | €178,241 | -€8,041 | -4.3% |
| Equity | 10/15 | €21,560 | €16,027 | -€5,534 | -25.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,440 | -€8,973 | -€5,534 | -161% |
| Amounts payable | 17/49 | €164,721 | €162,214 | -€2,507 | -1.5% |
| Amounts payable after more than one year | 17 | €22,956 | €13,043 | -€9,913 | -43.2% |
| Financial debts | 170/4 | €22,956 | €13,043 | -€9,913 | -43.2% |
| Amounts payable within one year | 42/48 | €140,816 | €147,815 | +€6,999 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €9,472 | €9,913 | +€441 | +4.7% |
| Trade debts | 44 | €13,079 | €1,410 | -€11,669 | -89.2% |
| Suppliers | 440/4 | €13,079 | €1,410 | -€11,669 | -89.2% |
| Advances received on contracts in progress | 46 | - | €5,505 | +€5,505 | |
| Taxes, remuneration and social security | 45 | €42,838 | €33,389 | -€9,449 | -22.1% |
| Taxes | 450/3 | €9,107 | €13,204 | +€4,097 | +45.0% |
| Remuneration and social security | 454/9 | €33,731 | €20,185 | -€13,546 | -40.2% |
| Other amounts payable | 47/48 | €75,428 | €97,599 | +€22,171 | +29.4% |
| Accrued charges and deferred income | 492/3 | €949 | €1,356 | +€407 | +42.9% |
| Non-recurring operating income | 76A | €41 | €722 | +€681 | +1,670% |
| Remuneration, social security and pensions | 62 | €273,179 | €227,799 | -€45,380 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,199 | €17,115 | +€916 | +5.7% |
| Other operating charges | 640/8 | €1,795 | €4,143 | +€2,348 | +131% |
| Non-recurring operating charges | 66A | - | €162 | +€162 | |
| Gross operating margin | 9900 | €312,901 | €251,246 | -€61,655 | -19.7% |
| Operating profit (loss) | 9901 | €21,728 | €2,027 | -€19,701 | -90.7% |
| Financial income | 75/76B | €268 | €197 | -€71 | -26.4% |
| Recurring financial income | 75 | €268 | €197 | -€71 | -26.4% |
| Financial charges | 65/66B | €11,505 | €7,758 | -€3,747 | -32.6% |
| Recurring financial charges | 65 | €11,505 | €7,758 | -€3,747 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €10,491 | -€5,534 | -€16,025 | |
| Profit (loss) for the period | 9904 | €10,491 | -€5,534 | -€16,025 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,491 | -€5,534 | -€16,025 |
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 27 October 2026 via checked.be.