JARO-STYLE: 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.
JARO-STYLE
Largest movements
- Receivables within one year +€48,535
up €48,535 (+42.2%), from €115,097 to €163,632
of which Trade receivables: +€45,204
- Tangible fixed assets +€33,775
up €33,775 (+41.3%), from €81,788 to €115,564
of which Furniture and vehicles: +€38,731
- Stocks and contracts -€9,630
down €9,630 (-3.4%), from €281,055 to €271,426
- Reserves +€39,582
up €39,582 (+55.0%), from €71,944 to €111,526
- Trade debts -€31,125
down €31,125 (-49.3%), from €63,099 to €31,973
- Short-term financial debts +€26,164
up €26,164, from €0 to €26,164
- Debts after one year +€15,821
up €15,821 (+28.6%), from €55,230 to €71,051
- Tax, wage and social debts +€9,866
up €9,866 (+7.2%), from €136,907 to €146,773
of which Remuneration and social security: +€6,440
- Gross operating margin +€7,402
up €7,402 (+2.6%), from €288,342 to €295,745
- Staff costs +€5,208
up €5,208 (+2.6%), from €200,424 to €205,632
- Financial charges -€3,432
down €3,432 (-38.5%), from €8,913 to €5,481
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 | €483,219 | €551,159 | +€67,940 | +14.1% |
| Fixed assets | 21/28 | €82,091 | €115,866 | +€33,775 | +41.1% |
| Tangible fixed assets | 22/27 | €81,788 | €115,564 | +€33,775 | +41.3% |
| Plant, machinery and equipment | 23 | €53,608 | €48,652 | -€4,956 | -9.2% |
| Furniture and vehicles | 24 | €28,180 | €66,911 | +€38,731 | +137% |
| Financial fixed assets | 28 | €302 | €302 | = | 0.0% |
| Current assets | 29/58 | €401,128 | €435,293 | +€34,165 | +8.5% |
| Stocks and contracts in progress | 3 | €281,055 | €271,426 | -€9,630 | -3.4% |
| Stocks | 30/36 | €281,055 | €271,426 | -€9,630 | -3.4% |
| Amounts receivable within one year | 40/41 | €115,097 | €163,632 | +€48,535 | +42.2% |
| Trade receivables | 40 | €114,376 | €159,580 | +€45,204 | +39.5% |
| Other amounts receivable | 41 | €721 | €4,052 | +€3,331 | +462% |
| Cash at bank and in hand | 54/58 | €2,390 | €235 | -€2,154 | -90.2% |
| Deferred charges and accrued income | 490/1 | €2,587 | €0 | -€2,587 | -100% |
| Total equity and liabilities | 10/49 | €483,219 | €551,159 | +€67,940 | +14.1% |
| Equity | 10/15 | €201,046 | €240,627 | +€39,582 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,944 | €111,526 | +€39,582 | +55.0% |
| Distributable reserves | 133 | €71,944 | €111,526 | +€39,582 | +55.0% |
| Profit (loss) carried forward | 14 | €110,501 | €110,501 | = | 0.0% |
| Amounts payable | 17/49 | €282,174 | €310,532 | +€28,358 | +10.0% |
| Amounts payable after more than one year | 17 | €55,230 | €71,051 | +€15,821 | +28.6% |
| Financial debts | 170/4 | €55,230 | €71,051 | +€15,821 | +28.6% |
| Amounts payable within one year | 42/48 | €226,944 | €239,481 | +€12,537 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €26,844 | €34,570 | +€7,726 | +28.8% |
| Financial debts | 43 | €0 | €26,164 | +€26,164 | |
| Credit institutions | 430/8 | €0 | €26,164 | +€26,164 | |
| Trade debts | 44 | €63,099 | €31,973 | -€31,125 | -49.3% |
| Suppliers | 440/4 | €63,099 | €31,973 | -€31,125 | -49.3% |
| Taxes, remuneration and social security | 45 | €136,907 | €146,773 | +€9,866 | +7.2% |
| Taxes | 450/3 | €30,318 | €33,744 | +€3,426 | +11.3% |
| Remuneration and social security | 454/9 | €106,589 | €113,029 | +€6,440 | +6.0% |
| Other amounts payable | 47/48 | €93 | €0 | -€93 | -100% |
| Remuneration, social security and pensions | 62 | €200,424 | €205,632 | +€5,208 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,533 | €27,301 | +€2,768 | +11.3% |
| Other operating charges | 640/8 | €992 | €1,713 | +€721 | +72.7% |
| Gross operating margin | 9900 | €288,342 | €295,745 | +€7,402 | +2.6% |
| Operating profit (loss) | 9901 | €62,393 | €61,099 | -€1,294 | -2.1% |
| Financial income | 75/76B | €51 | €125 | +€74 | +145% |
| Recurring financial income | 75 | €51 | €125 | +€74 | +145% |
| Financial charges | 65/66B | €8,913 | €5,481 | -€3,432 | -38.5% |
| Recurring financial charges | 65 | €8,913 | €5,481 | -€3,432 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €53,531 | €55,743 | +€2,212 | +4.1% |
| Income taxes | 67/77 | €18,059 | €16,162 | -€1,898 | -10.5% |
| Profit (loss) for the period | 9904 | €35,472 | €39,582 | +€4,110 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,472 | €39,582 | +€4,110 | +11.6% |
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 17 October 2026 via checked.be.