JAQAL: 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.
JAQAL
Largest movements
- Cash -€134,327
down €134,327 (-93.1%), from €144,304 to €9,978
mainly Net result for the year (-€170,690) and Deferred charges and accrued income (-€74,156)
- Deferred charges and accrued income +€74,156
new in 2025: €74,156
- Tangible fixed assets -€53,965
down €53,965 (-36.5%), from €147,739 to €93,774
of which Plant, machinery and equipment: -€33,529
- Receivables within one year -€50,598
down €50,598 (-38.2%), from €132,619 to €82,021
of which Trade receivables: -€54,097
- Intangible fixed assets -€18,016
down €18,016 (-45.4%), from €39,697 to €21,681
- Profit (loss) carried forward -€170,690
down €170,690 (-14.3%), from -€1.2m to -€1.4m
- Contributions +€100,000
up €100,000 (+27.9%), from €358,575 to €458,575
- Trade debts -€36,813
down €36,813 (-32.1%), from €114,809 to €77,995
- Tax, wage and social debts -€36,387
down €36,387 (-20.4%), from €178,658 to €142,271
of which Taxes: -€45,591
- Accrued charges and deferred income -€17,880
down €17,880 (-44.6%), from €40,081 to €22,201
- Gross operating margin -€168,149
down €168,149 (-22.8%), from €738,036 to €569,886
- Staff costs -€137,030
down €137,030 (-16.2%), from €845,243 to €708,214
- Financial income -€85,938
down €85,938 (-78.9%), from €108,855 to €22,917
- Financial charges -€34,162
down €34,162, from €6,968 to -€27,194
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 | €484,682 | €310,170 | -€174,512 | -36.0% |
| Fixed assets | 21/28 | €187,997 | €116,015 | -€71,982 | -38.3% |
| Intangible fixed assets | 21 | €39,697 | €21,681 | -€18,016 | -45.4% |
| Tangible fixed assets | 22/27 | €147,739 | €93,774 | -€53,965 | -36.5% |
| Plant, machinery and equipment | 23 | €106,811 | €73,282 | -€33,529 | -31.4% |
| Furniture and vehicles | 24 | €5,798 | €3,857 | -€1,941 | -33.5% |
| Leasing and similar rights | 25 | €35,130 | €16,635 | -€18,495 | -52.6% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €296,686 | €194,155 | -€102,531 | -34.6% |
| Stocks and contracts in progress | 3 | €19,762 | €28,000 | +€8,238 | +41.7% |
| Stocks | 30/36 | €19,762 | €28,000 | +€8,238 | +41.7% |
| Amounts receivable within one year | 40/41 | €132,619 | €82,021 | -€50,598 | -38.2% |
| Trade receivables | 40 | €97,120 | €43,022 | -€54,097 | -55.7% |
| Other amounts receivable | 41 | €35,499 | €38,999 | +€3,499 | +9.9% |
| Cash at bank and in hand | 54/58 | €144,304 | €9,978 | -€134,327 | -93.1% |
| Deferred charges and accrued income | 490/1 | - | €74,156 | +€74,156 | |
| Total equity and liabilities | 10/49 | €484,682 | €310,170 | -€174,512 | -36.0% |
| Equity | 10/15 | €78,569 | -€4,350 | -€82,920 | |
| Contributions | 10/11 | €358,575 | €458,575 | +€100,000 | +27.9% |
| Reserves | 13 | €889,130 | €889,130 | = | 0.0% |
| Tax-exempt reserves | 132 | €889,130 | €889,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,194,686 | -€1,365,376 | -€170,690 | -14.3% |
| Investment grants | 15 | €25,550 | €13,320 | -€12,230 | -47.9% |
| Provisions and deferred taxes | 16 | €2,217 | €230 | -€1,987 | -89.6% |
| Deferred taxes | 168 | €2,217 | €230 | -€1,987 | -89.6% |
| Amounts payable | 17/49 | €403,896 | €314,290 | -€89,606 | -22.2% |
| Amounts payable after more than one year | 17 | €45,584 | €37,046 | -€8,538 | -18.7% |
| Financial debts | 170/4 | €45,584 | €37,046 | -€8,538 | -18.7% |
| Amounts payable within one year | 42/48 | €318,231 | €255,043 | -€63,188 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €17,132 | €16,485 | -€646 | -3.8% |
| Trade debts | 44 | €114,809 | €77,995 | -€36,813 | -32.1% |
| Suppliers | 440/4 | €114,809 | €77,995 | -€36,813 | -32.1% |
| Taxes, remuneration and social security | 45 | €178,658 | €142,271 | -€36,387 | -20.4% |
| Taxes | 450/3 | €69,987 | €24,396 | -€45,591 | -65.1% |
| Remuneration and social security | 454/9 | €108,671 | €117,875 | +€9,204 | +8.5% |
| Other amounts payable | 47/48 | €7,633 | €18,291 | +€10,658 | +140% |
| Accrued charges and deferred income | 492/3 | €40,081 | €22,201 | -€17,880 | -44.6% |
| Remuneration, social security and pensions | 62 | €845,243 | €708,214 | -€137,030 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,523 | €84,053 | -€5,470 | -6.1% |
| Other operating charges | 640/8 | €933 | €407 | -€526 | -56.4% |
| Gross operating margin | 9900 | €738,036 | €569,886 | -€168,149 | -22.8% |
| Operating profit (loss) | 9901 | -€197,664 | -€222,788 | -€25,124 | -12.7% |
| Financial income | 75/76B | €108,855 | €22,917 | -€85,938 | -78.9% |
| Recurring financial income | 75 | €108,855 | €22,917 | -€85,938 | -78.9% |
| Financial charges | 65/66B | €6,968 | -€27,194 | -€34,162 | |
| Recurring financial charges | 65 | €6,968 | -€27,194 | -€34,162 | |
| Profit (loss) for the period before taxes | 9903 | -€95,777 | -€172,677 | -€76,900 | -80.3% |
| Transfer from deferred taxes | 780 | €1,987 | €1,987 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€93,790 | -€170,690 | -€76,900 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,790 | -€170,690 | -€76,900 | -82.0% |
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 24 October 2026 via checked.be.