JAX: 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.
JAX
Largest movements
- Intangible fixed assets +€323,039
up €323,039 (+9,976%), from €3,238 to €326,277
- Cash -€73,497
down €73,497 (-32.1%), from €228,841 to €155,343
mainly Investment in fixed assets (net) (-€343,115) and Tax, wage and social debts (-€17,559)
- Tangible fixed assets -€18,549
down €18,549 (-23.8%), from €77,894 to €59,345
of which Plant, machinery and equipment: -€9,516
- Debts after one year +€191,430
up €191,430 (+2,484%), from €7,706 to €199,136
- Current portion of long-term debt +€40,654
up €40,654 (+336%), from €12,106 to €52,760
- Reserves +€24,800
up €24,800 (+17.9%), from €138,561 to €163,361
- Tax, wage and social debts -€17,559
down €17,559 (-19.8%), from €88,573 to €71,014
of which Remuneration and social security: -€11,047
- Gross operating margin -€55,096
down €55,096 (-16.0%), from €343,453 to €288,357
- Staff costs -€21,896
down €21,896 (-9.6%), from €229,275 to €207,378
- Depreciation +€13,540
up €13,540 (+54.0%), from €25,086 to €38,625
- Taxes -€10,512
down €10,512 (-51.0%), from €20,601 to €10,090
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 | €321,842 | €554,715 | +€232,873 | +72.4% |
| Fixed assets | 21/28 | €81,132 | €385,622 | +€304,490 | +375% |
| Intangible fixed assets | 21 | €3,238 | €326,277 | +€323,039 | +9,976% |
| Tangible fixed assets | 22/27 | €77,894 | €59,345 | -€18,549 | -23.8% |
| Land and buildings | 22 | €31,680 | €23,976 | -€7,704 | -24.3% |
| Plant, machinery and equipment | 23 | €38,209 | €28,693 | -€9,516 | -24.9% |
| Furniture and vehicles | 24 | €8,005 | €6,676 | -€1,330 | -16.6% |
| Current assets | 29/58 | €240,710 | €169,093 | -€71,617 | -29.8% |
| Stocks and contracts in progress | 3 | €10,610 | €13,000 | +€2,390 | +22.5% |
| Stocks | 30/36 | €10,610 | €13,000 | +€2,390 | +22.5% |
| Amounts receivable within one year | 40/41 | €1,259 | €750 | -€509 | -40.4% |
| Other amounts receivable | 41 | €1,259 | €750 | -€509 | -40.4% |
| Cash at bank and in hand | 54/58 | €228,841 | €155,343 | -€73,497 | -32.1% |
| Total equity and liabilities | 10/49 | €321,842 | €554,715 | +€232,873 | +72.4% |
| Equity | 10/15 | €143,561 | €168,361 | +€24,800 | +17.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €138,561 | €163,361 | +€24,800 | +17.9% |
| Distributable reserves | 133 | €138,561 | €163,361 | +€24,800 | +17.9% |
| Amounts payable | 17/49 | €178,281 | €386,354 | +€208,073 | +117% |
| Amounts payable after more than one year | 17 | €7,706 | €199,136 | +€191,430 | +2,484% |
| Financial debts | 170/4 | €7,706 | €199,136 | +€191,430 | +2,484% |
| Amounts payable within one year | 42/48 | €170,575 | €187,218 | +€16,642 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €12,106 | €52,760 | +€40,654 | +336% |
| Trade debts | 44 | €51,417 | €49,991 | -€1,426 | -2.8% |
| Suppliers | 440/4 | €51,417 | €49,991 | -€1,426 | -2.8% |
| Advances received on contracts in progress | 46 | €11,160 | €8,319 | -€2,841 | -25.5% |
| Taxes, remuneration and social security | 45 | €88,573 | €71,014 | -€17,559 | -19.8% |
| Taxes | 450/3 | €61,713 | €55,201 | -€6,512 | -10.6% |
| Remuneration and social security | 454/9 | €26,861 | €15,813 | -€11,047 | -41.1% |
| Other amounts payable | 47/48 | €7,319 | €5,133 | -€2,186 | -29.9% |
| Remuneration, social security and pensions | 62 | €229,275 | €207,378 | -€21,896 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,086 | €38,625 | +€13,540 | +54.0% |
| Other operating charges | 640/8 | €2,369 | €2,444 | +€75 | +3.2% |
| Gross operating margin | 9900 | €343,453 | €288,357 | -€55,096 | -16.0% |
| Operating profit (loss) | 9901 | €86,724 | €39,910 | -€46,814 | -54.0% |
| Financial income | 75/76B | €68 | €16 | -€52 | -76.6% |
| Recurring financial income | 75 | €68 | €16 | -€52 | -76.6% |
| Financial charges | 65/66B | €2,511 | €5,036 | +€2,525 | +101% |
| Recurring financial charges | 65 | €2,511 | €5,036 | +€2,525 | +101% |
| Profit (loss) for the period before taxes | 9903 | €84,281 | €34,890 | -€49,391 | -58.6% |
| Income taxes | 67/77 | €20,601 | €10,090 | -€10,512 | -51.0% |
| Profit (loss) for the period | 9904 | €63,679 | €24,800 | -€38,879 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,679 | €24,800 | -€38,879 | -61.1% |
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 20 October 2026 via checked.be.