JARES: 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.
JARES
Largest movements
- Current investments -€73,371
down €73,371 (-29.3%), from €250,000 to €176,629
- Cash -€17,734
down €17,734 (-89.3%), from €19,858 to €2,124
mainly Contributions, distributions and other (-€69,686) and Tax, wage and social debts (-€13,822)
- Reserves -€74,351
down €74,351 (-98.4%), from €75,546 to €1,194
- Tax, wage and social debts -€13,822
down €13,822 (-96.5%), from €14,330 to €508
- Gross operating margin -€77,170
down €77,170, from €71,103 to -€6,067
- Taxes -€19,291
down €19,291 (-98.8%), from €19,522 to €231
- Financial income -€2,945
down €2,945 (-49.0%), from €6,010 to €3,066
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 | €272,587 | €183,321 | -€89,266 | -32.7% |
| Fixed assets | 21/28 | €305 | €0 | -€305 | -100.0% |
| Tangible fixed assets | 22/27 | €305 | €0 | -€305 | -100.0% |
| Plant, machinery and equipment | 23 | €52 | €0 | -€52 | -100.0% |
| Furniture and vehicles | 24 | €254 | €0 | -€254 | -100.0% |
| Current assets | 29/58 | €272,282 | €183,321 | -€88,961 | -32.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,587 | €3,383 | +€1,796 | +113.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,587 | €3,383 | +€1,796 | +113.1% |
| Current investments | 50/53 | €250,000 | €176,629 | -€73,371 | -29.3% |
| Cash at bank and in hand | 54/58 | €19,858 | €2,124 | -€17,734 | -89.3% |
| Deferred charges and accrued income | 490/1 | €837 | €1,185 | +€348 | +41.6% |
| Total equity and liabilities | 10/49 | €272,587 | €183,321 | -€89,266 | -32.7% |
| Equity | 10/15 | €255,546 | €181,194 | -€74,351 | -29.1% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €75,546 | €1,194 | -€74,351 | -98.4% |
| Distributable reserves | 133 | €75,546 | €1,194 | -€74,351 | -98.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,041 | €2,126 | -€14,915 | -87.5% |
| Amounts payable within one year | 42/48 | €15,203 | €1,207 | -€13,995 | -92.1% |
| Trade debts | 44 | €404 | €0 | -€404 | -100.0% |
| Suppliers | 440/4 | €404 | €0 | -€404 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,330 | €508 | -€13,822 | -96.5% |
| Taxes | 450/3 | €14,330 | €508 | -€13,822 | -96.5% |
| Other amounts payable | 47/48 | €469 | €700 | +€231 | +49.3% |
| Accrued charges and deferred income | 492/3 | €1,839 | €919 | -€920 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €598 | €305 | -€292 | -48.9% |
| Other operating charges | 640/8 | €1,029 | €1,065 | +€36 | +3.5% |
| Gross operating margin | 9900 | €71,103 | -€6,067 | -€77,170 | |
| Operating profit (loss) | 9901 | €69,476 | -€7,438 | -€76,914 | |
| Financial income | 75/76B | €6,010 | €3,066 | -€2,945 | -49.0% |
| Recurring financial income | 75 | €6,010 | €3,066 | -€2,945 | -49.0% |
| Financial charges | 65/66B | €103 | €63 | -€41 | -39.3% |
| Recurring financial charges | 65 | €103 | €63 | -€41 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €75,382 | -€4,435 | -€79,818 | |
| Income taxes | 67/77 | €19,522 | €231 | -€19,291 | -98.8% |
| Profit (loss) for the period | 9904 | €55,860 | -€4,666 | -€60,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,860 | -€4,666 | -€60,526 |
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 11 October 2026 via checked.be.