JARO: 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.
JARO
Largest movements
- Cash -€168,354
down €168,354 (-36.4%), from €462,487 to €294,132
mainly Contributions, distributions and other (-€305,000) and Receivables after one year (-€6,881)
- Receivables within one year -€30,949
down €30,949 (-76.4%), from €40,523 to €9,574
- Tangible fixed assets -€20,253
down €20,253 (-12.8%), from €158,271 to €138,018
of which Land and buildings: -€19,812
- Reserves -€264,329
down €264,329 (-50.2%), from €526,041 to €261,711
of which Distributable reserves: -€251,332
- Other debts +€43,527
up €43,527 (+186.8%), from €23,302 to €66,830
- Tax, wage and social debts +€12,459
up €12,459 (+524.9%), from €2,374 to €14,832
of which Taxes: +€12,459
- Gross operating margin +€37,088
up €37,088 (+97.2%), from €38,156 to €75,244
- Taxes +€11,890
up €11,890 (+86.3%), from €13,776 to €25,665
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 | €690,920 | €478,245 | -€212,675 | -30.8% |
| Fixed assets | 21/28 | €167,271 | €147,018 | -€20,253 | -12.1% |
| Tangible fixed assets | 22/27 | €158,271 | €138,018 | -€20,253 | -12.8% |
| Land and buildings | 22 | €157,162 | €137,351 | -€19,812 | -12.6% |
| Furniture and vehicles | 24 | €1,108 | €667 | -€441 | -39.8% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €523,649 | €331,226 | -€192,423 | -36.7% |
| Amounts receivable after more than one year | 29 | €20,639 | €27,520 | +€6,881 | +33.3% |
| Other amounts receivable | 291 | €20,639 | €27,520 | +€6,881 | +33.3% |
| Amounts receivable within one year | 40/41 | €40,523 | €9,574 | -€30,949 | -76.4% |
| Other amounts receivable | 41 | €40,523 | €9,574 | -€30,949 | -76.4% |
| Cash at bank and in hand | 54/58 | €462,487 | €294,132 | -€168,354 | -36.4% |
| Total equity and liabilities | 10/49 | €690,920 | €478,245 | -€212,675 | -30.8% |
| Equity | 10/15 | €634,813 | €370,483 | -€264,329 | -41.6% |
| Contributions | 10/11 | €272,683 | €272,683 | = | 0.0% |
| Capital | 10 | €272,683 | €272,683 | = | 0.0% |
| Issued capital | 100 | €272,683 | €272,683 | = | 0.0% |
| Reserves | 13 | €526,041 | €261,711 | -€264,329 | -50.2% |
| Non-distributable reserves | 130/1 | €27,268 | €27,268 | = | 0.0% |
| Legal reserve | 130 | €27,268 | €27,268 | = | 0.0% |
| Tax-exempt reserves | 132 | €83,044 | €70,047 | -€12,997 | -15.7% |
| Distributable reserves | 133 | €415,728 | €164,396 | -€251,332 | -60.5% |
| Profit (loss) carried forward | 14 | -€163,911 | -€163,911 | = | 0.0% |
| Provisions and deferred taxes | 16 | €27,681 | €23,349 | -€4,332 | -15.7% |
| Deferred taxes | 168 | €27,681 | €23,349 | -€4,332 | -15.7% |
| Amounts payable | 17/49 | €28,426 | €84,412 | +€55,986 | +197.0% |
| Amounts payable within one year | 42/48 | €25,676 | €81,662 | +€55,986 | +218.0% |
| Taxes, remuneration and social security | 45 | €2,374 | €14,832 | +€12,459 | +524.9% |
| Taxes | 450/3 | €1,374 | €13,832 | +€12,459 | +907.0% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €23,302 | €66,830 | +€43,527 | +186.8% |
| Accrued charges and deferred income | 492/3 | €2,750 | €2,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,253 | €20,253 | = | 0.0% |
| Other operating charges | 640/8 | €833 | €858 | +€24 | +2.9% |
| Gross operating margin | 9900 | €38,156 | €75,244 | +€37,088 | +97.2% |
| Operating profit (loss) | 9901 | €17,070 | €54,134 | +€37,064 | +217.1% |
| Financial income | 75/76B | €8,346 | €7,915 | -€431 | -5.2% |
| Recurring financial income | 75 | €8,346 | €7,915 | -€431 | -5.2% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.5% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €25,372 | €62,004 | +€36,631 | +144.4% |
| Transfer from deferred taxes | 780 | €4,332 | €4,332 | +€0 | 0.0% |
| Income taxes | 67/77 | €13,776 | €25,665 | +€11,890 | +86.3% |
| Profit (loss) for the period | 9904 | €15,929 | €40,671 | +€24,742 | +155.3% |
| Transfer from tax-exempt reserves | 789 | €12,997 | €12,997 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,926 | €53,668 | +€24,742 | +85.5% |
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 7 October 2026 via checked.be.