JASAM: 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.
JASAM
Largest movements
- Receivables within one year -€76,464
down €76,464 (-46.7%), from €163,728 to €87,264
of which Other amounts receivable: -€76,464
- Stocks and contracts +€49,482
up €49,482 (+4.2%), from €1.2m to €1.2m
- Trade debts -€64,407
down €64,407 (-23.1%), from €278,593 to €214,186
- Reserves +€59,256
up €59,256 (+7.2%), from €825,182 to €884,437
of which Distributable reserves: +€59,256
- Current portion of long-term debt -€45,725
down €45,725 (-100.0%), from €45,725 to €0
- Gross operating margin +€53,378
up €53,378 (+8.1%), from €662,820 to €716,199
- Staff costs -€21,815
down €21,815 (-3.5%), from €614,594 to €592,779
- Taxes +€16,067
up €16,067 (+118.9%), from €13,511 to €29,578
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 | €2,050,339 | €2,009,666 | -€40,673 | -2.0% |
| Fixed assets | 21/28 | €53,178 | €39,807 | -€13,371 | -25.1% |
| Tangible fixed assets | 22/27 | €51,928 | €38,557 | -€13,371 | -25.7% |
| Plant, machinery and equipment | 23 | €14,737 | €11,382 | -€3,355 | -22.8% |
| Furniture and vehicles | 24 | €37,191 | €27,174 | -€10,016 | -26.9% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €1,997,161 | €1,969,860 | -€27,302 | -1.4% |
| Stocks and contracts in progress | 3 | €1,184,414 | €1,233,895 | +€49,482 | +4.2% |
| Stocks | 30/36 | €1,184,414 | €1,233,895 | +€49,482 | +4.2% |
| Amounts receivable within one year | 40/41 | €163,728 | €87,264 | -€76,464 | -46.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €163,728 | €87,264 | -€76,464 | -46.7% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €149,020 | €148,700 | -€319 | -0.2% |
| Total equity and liabilities | 10/49 | €2,050,339 | €2,009,666 | -€40,673 | -2.0% |
| Equity | 10/15 | €886,682 | €945,937 | +€59,256 | +6.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Other | 1109/19 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €825,182 | €884,437 | +€59,256 | +7.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €825,182 | €884,437 | +€59,256 | +7.2% |
| Amounts payable | 17/49 | €1,163,658 | €1,063,729 | -€99,929 | -8.6% |
| Amounts payable within one year | 42/48 | €1,163,658 | €1,063,729 | -€99,929 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €45,725 | €0 | -€45,725 | -100.0% |
| Trade debts | 44 | €278,593 | €214,186 | -€64,407 | -23.1% |
| Suppliers | 440/4 | €278,593 | €214,186 | -€64,407 | -23.1% |
| Taxes, remuneration and social security | 45 | €120,924 | €135,053 | +€14,128 | +11.7% |
| Taxes | 450/3 | €39,055 | €73,986 | +€34,930 | +89.4% |
| Remuneration and social security | 454/9 | €81,869 | €61,067 | -€20,802 | -25.4% |
| Other amounts payable | 47/48 | €718,416 | €714,490 | -€3,925 | -0.5% |
| Remuneration, social security and pensions | 62 | €614,594 | €592,779 | -€21,815 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,821 | €17,855 | -€3,966 | -18.2% |
| Other operating charges | 640/8 | €34,017 | €38,187 | +€4,171 | +12.3% |
| Gross operating margin | 9900 | €662,820 | €716,199 | +€53,378 | +8.1% |
| Operating profit (loss) | 9901 | -€7,611 | €67,377 | +€74,989 | |
| Financial income | 75/76B | €68,282 | €70,294 | +€2,012 | +2.9% |
| Recurring financial income | 75 | €68,282 | €70,294 | +€2,012 | +2.9% |
| Financial charges | 65/66B | €52,463 | €48,838 | -€3,626 | -6.9% |
| Recurring financial charges | 65 | €52,463 | €48,838 | -€3,626 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €8,207 | €88,833 | +€80,626 | +982.4% |
| Income taxes | 67/77 | €13,511 | €29,578 | +€16,067 | +118.9% |
| Profit (loss) for the period | 9904 | -€5,303 | €59,256 | +€64,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,303 | €59,256 | +€64,559 |
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 4 October 2026 via checked.be.