JASPIMIAL: 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.
JASPIMIAL
Largest movements
- Current investments +€164,766
new in 2025: €164,766
- Receivables within one year -€96,500
down €96,500 (-26.9%), from €358,675 to €262,175
of which Other amounts receivable: -€94,126
- Cash -€12,072
down €12,072 (-19.4%), from €62,353 to €50,281
mainly Current investments (-€164,766) and Tax, wage and social debts (-€3,087)
- Other debts +€32,465
up €32,465 (+25.7%), from €126,418 to €158,884
- Reserves +€25,500
up €25,500 (+11.3%), from €226,500 to €252,000
of which Distributable reserves: +€25,500
- Gross operating margin +€8,641
up €8,641 (+24.0%), from €36,047 to €44,688
- Depreciation -€3,396
down €3,396 (-62.2%), from €5,458 to €2,062
- Financial income -€2,797
down €2,797 (-32.4%), from €8,625 to €5,828
- Taxes +€2,254
up €2,254 (+21.8%), from €10,352 to €12,606
- Financial charges -€762
down €762 (-7.8%), from €9,770 to €9,008
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 | €603,586 | €654,887 | +€51,301 | +8.5% |
| Fixed assets | 21/28 | €172,863 | €170,802 | -€2,062 | -1.2% |
| Tangible fixed assets | 22/27 | €2,062 | - | -€2,062 | |
| Furniture and vehicles | 24 | €2,062 | - | -€2,062 | |
| Financial fixed assets | 28 | €170,802 | €170,802 | = | 0.0% |
| Current assets | 29/58 | €430,723 | €484,085 | +€53,362 | +12.4% |
| Amounts receivable within one year | 40/41 | €358,675 | €262,175 | -€96,500 | -26.9% |
| Trade receivables | 40 | €12,184 | €9,810 | -€2,373 | -19.5% |
| Other amounts receivable | 41 | €346,491 | €252,365 | -€94,126 | -27.2% |
| Current investments | 50/53 | - | €164,766 | +€164,766 | |
| Cash at bank and in hand | 54/58 | €62,353 | €50,281 | -€12,072 | -19.4% |
| Deferred charges and accrued income | 490/1 | €9,694 | €6,863 | -€2,832 | -29.2% |
| Total equity and liabilities | 10/49 | €603,586 | €654,887 | +€51,301 | +8.5% |
| Equity | 10/15 | €461,356 | €484,274 | +€22,918 | +5.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €226,500 | €252,000 | +€25,500 | +11.3% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €211,500 | €237,000 | +€25,500 | +12.1% |
| Profit (loss) carried forward | 14 | €84,856 | €82,274 | -€2,582 | -3.0% |
| Amounts payable | 17/49 | €142,230 | €170,613 | +€28,383 | +20.0% |
| Amounts payable within one year | 42/48 | €132,490 | €161,869 | +€29,379 | +22.2% |
| Taxes, remuneration and social security | 45 | €6,072 | €2,986 | -€3,087 | -50.8% |
| Taxes | 450/3 | €6,072 | €2,986 | -€3,087 | -50.8% |
| Other amounts payable | 47/48 | €126,418 | €158,884 | +€32,465 | +25.7% |
| Accrued charges and deferred income | 492/3 | €9,740 | €8,743 | -€996 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,458 | €2,062 | -€3,396 | -62.2% |
| Other operating charges | 640/8 | €891 | €922 | +€32 | +3.5% |
| Gross operating margin | 9900 | €36,047 | €44,688 | +€8,641 | +24.0% |
| Operating profit (loss) | 9901 | €29,699 | €41,704 | +€12,005 | +40.4% |
| Financial income | 75/76B | €8,625 | €5,828 | -€2,797 | -32.4% |
| Recurring financial income | 75 | €8,625 | €5,828 | -€2,797 | -32.4% |
| Financial charges | 65/66B | €9,770 | €9,008 | -€762 | -7.8% |
| Recurring financial charges | 65 | €9,770 | €9,008 | -€762 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €28,554 | €38,524 | +€9,971 | +34.9% |
| Income taxes | 67/77 | €10,352 | €12,606 | +€2,254 | +21.8% |
| Profit (loss) for the period | 9904 | €18,202 | €25,918 | +€7,716 | +42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,202 | €25,918 | +€7,716 | +42.4% |
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 3 October 2026 via checked.be.