JAPO: 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.
JAPO
Largest movements
- Tangible fixed assets -€15,298
down €15,298 (-4.9%), from €311,141 to €295,843
of which Leasing and similar rights: -€31,671
- Receivables within one year +€13,612
up €13,612 (+148.8%), from €9,150 to €22,762
of which Trade receivables: +€13,612
- Deferred charges and accrued income -€3,479
down €3,479 (-100.0%), from €3,479 to €0
- Cash -€3,411
down €3,411 (-26.7%), from €12,760 to €9,349
mainly Debts after one year (-€21,272) and Receivables within one year (-€13,612)
- Other debts +€28,271
up €28,271 (+543.7%), from €5,200 to €33,471
- Debts after one year -€21,272
down €21,272 (-57.5%), from €37,002 to €15,730
- Current portion of long-term debt -€10,574
down €10,574 (-65.0%), from €16,265 to €5,691
- Other operating charges +€15,423
up €15,423 (+692.6%), from €2,227 to €17,650
- Depreciation -€12,766
down €12,766 (-42.6%), from €29,935 to €17,169
- Taxes -€8,296
down €8,296, from €8,063 to -€233
- Financial charges +€979
up €979 (+53.6%), from €1,827 to €2,807
- Gross operating margin -€571
down €571 (-1.5%), from €37,156 to €36,584
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 | €336,530 | €327,954 | -€8,576 | -2.5% |
| Fixed assets | 21/28 | €311,141 | €295,843 | -€15,298 | -4.9% |
| Tangible fixed assets | 22/27 | €311,141 | €295,843 | -€15,298 | -4.9% |
| Land and buildings | 22 | €272,647 | €260,710 | -€11,937 | -4.4% |
| Plant, machinery and equipment | 23 | €5,582 | €2,639 | -€2,943 | -52.7% |
| Furniture and vehicles | 24 | €1,242 | €32,494 | +€31,252 | +2517.3% |
| Leasing and similar rights | 25 | €31,671 | €0 | -€31,671 | -100.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €25,389 | €32,111 | +€6,723 | +26.5% |
| Amounts receivable within one year | 40/41 | €9,150 | €22,762 | +€13,612 | +148.8% |
| Trade receivables | 40 | €9,150 | €22,762 | +€13,612 | +148.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €12,760 | €9,349 | -€3,411 | -26.7% |
| Deferred charges and accrued income | 490/1 | €3,479 | €0 | -€3,479 | -100.0% |
| Total equity and liabilities | 10/49 | €336,530 | €327,954 | -€8,576 | -2.5% |
| Equity | 10/15 | €261,596 | €261,525 | -€70 | 0.0% |
| Contributions | 10/11 | €8,056 | €8,056 | = | 0.0% |
| Reserves | 13 | €252,686 | €253,254 | +€568 | +0.2% |
| Tax-exempt reserves | 132 | €23,686 | €22,254 | -€1,432 | -6.0% |
| Distributable reserves | 133 | €229,000 | €231,000 | +€2,000 | +0.9% |
| Profit (loss) carried forward | 14 | €853 | €215 | -€638 | -74.8% |
| Provisions and deferred taxes | 16 | €12,197 | €11,459 | -€737 | -6.0% |
| Deferred taxes | 168 | €12,197 | €11,459 | -€737 | -6.0% |
| Amounts payable | 17/49 | €62,737 | €54,970 | -€7,768 | -12.4% |
| Amounts payable after more than one year | 17 | €37,002 | €15,730 | -€21,272 | -57.5% |
| Financial debts | 170/4 | €37,002 | €15,730 | -€21,272 | -57.5% |
| Amounts payable within one year | 42/48 | €25,736 | €39,240 | +€13,504 | +52.5% |
| Current portion of amounts payable after more than one year | 42 | €16,265 | €5,691 | -€10,574 | -65.0% |
| Trade debts | 44 | €1,064 | €0 | -€1,064 | -100.0% |
| Suppliers | 440/4 | €1,064 | €0 | -€1,064 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,206 | €78 | -€3,128 | -97.6% |
| Taxes | 450/3 | €3,206 | €78 | -€3,128 | -97.6% |
| Other amounts payable | 47/48 | €5,200 | €33,471 | +€28,271 | +543.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,935 | €17,169 | -€12,766 | -42.6% |
| Other operating charges | 640/8 | €2,227 | €17,650 | +€15,423 | +692.6% |
| Gross operating margin | 9900 | €37,156 | €36,584 | -€571 | -1.5% |
| Operating profit (loss) | 9901 | €4,994 | €1,766 | -€3,228 | -64.6% |
| Financial charges | 65/66B | €1,827 | €2,807 | +€979 | +53.6% |
| Recurring financial charges | 65 | €1,827 | €2,807 | +€979 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €3,166 | -€1,041 | -€4,207 | |
| Transfer from deferred taxes | 780 | €737 | €737 | +€0 | 0.0% |
| Income taxes | 67/77 | €8,063 | -€233 | -€8,296 | |
| Profit (loss) for the period | 9904 | -€4,160 | -€70 | +€4,089 | +98.3% |
| Transfer from tax-exempt reserves | 789 | €1,432 | €1,432 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,728 | €1,362 | +€4,089 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.