JBL: 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.
JBL
Largest movements
- Cash -€66,440
down €66,440 (-49.8%), from €133,475 to €67,035
mainly Debts after one year (-€140,193) and Receivables within one year (-€18,918)
- Tangible fixed assets -€59,481
down €59,481 (-3.7%), from €1.6m to €1.6m
of which Land and buildings: -€74,465
- Receivables within one year +€18,918
up €18,918 (+71.3%), from €26,539 to €45,457
of which Trade receivables: +€12,823
- Debts after one year -€140,193
down €140,193 (-14.9%), from €943,275 to €803,082
- Reserves +€29,222
up €29,222 (+9.1%), from €321,450 to €350,672
of which Distributable reserves: +€39,052
- Financial charges -€5,735
down €5,735 (-29.8%), from €19,268 to €13,533
- Gross operating margin +€5,087
up €5,087 (+3.6%), from €141,185 to €146,272
- Financial income -€2,921
down €2,921 (-100.0%), from €2,921 to €0
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 | €1,789,947 | €1,682,944 | -€107,003 | -6.0% |
| Fixed assets | 21/28 | €1,629,933 | €1,570,452 | -€59,481 | -3.6% |
| Tangible fixed assets | 22/27 | €1,624,933 | €1,565,452 | -€59,481 | -3.7% |
| Land and buildings | 22 | €1,624,933 | €1,550,468 | -€74,465 | -4.6% |
| Plant, machinery and equipment | 23 | - | €14,984 | +€14,984 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €160,014 | €112,492 | -€47,522 | -29.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €26,539 | €45,457 | +€18,918 | +71.3% |
| Trade receivables | 40 | €24,309 | €37,132 | +€12,823 | +52.8% |
| Other amounts receivable | 41 | €2,231 | €8,326 | +€6,095 | +273.2% |
| Cash at bank and in hand | 54/58 | €133,475 | €67,035 | -€66,440 | -49.8% |
| Total equity and liabilities | 10/49 | €1,789,947 | €1,682,944 | -€107,003 | -6.0% |
| Equity | 10/15 | €592,263 | €621,485 | +€29,222 | +4.9% |
| Contributions | 10/11 | €270,813 | €270,813 | = | 0.0% |
| Capital | 10 | €270,813 | €270,813 | = | 0.0% |
| Issued capital | 100 | €270,813 | €270,813 | = | 0.0% |
| Reserves | 13 | €321,450 | €350,672 | +€29,222 | +9.1% |
| Non-distributable reserves | 130/1 | €27,081 | €27,081 | = | 0.0% |
| Legal reserve | 130 | €27,081 | €27,081 | = | 0.0% |
| Tax-exempt reserves | 132 | €167,116 | €157,286 | -€9,830 | -5.9% |
| Distributable reserves | 133 | €127,253 | €166,305 | +€39,052 | +30.7% |
| Provisions and deferred taxes | 16 | €55,705 | €52,429 | -€3,277 | -5.9% |
| Deferred taxes | 168 | €55,705 | €52,429 | -€3,277 | -5.9% |
| Amounts payable | 17/49 | €1,141,979 | €1,009,031 | -€132,948 | -11.6% |
| Amounts payable after more than one year | 17 | €943,275 | €803,082 | -€140,193 | -14.9% |
| Financial debts | 170/4 | €943,275 | €803,082 | -€140,193 | -14.9% |
| Amounts payable within one year | 42/48 | €198,704 | €205,949 | +€7,245 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €138,462 | €140,193 | +€1,731 | +1.3% |
| Trade debts | 44 | €47,731 | €52,106 | +€4,374 | +9.2% |
| Suppliers | 440/4 | €47,731 | €52,106 | +€4,374 | +9.2% |
| Taxes, remuneration and social security | 45 | €12,511 | €13,650 | +€1,139 | +9.1% |
| Taxes | 450/3 | €12,511 | €13,650 | +€1,139 | +9.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,465 | €75,027 | +€562 | +0.8% |
| Other operating charges | 640/8 | €17,570 | €18,117 | +€548 | +3.1% |
| Gross operating margin | 9900 | €141,185 | €146,272 | +€5,087 | +3.6% |
| Operating profit (loss) | 9901 | €49,150 | €53,128 | +€3,977 | +8.1% |
| Financial income | 75/76B | €2,921 | €0 | -€2,921 | -100.0% |
| Recurring financial income | 75 | €2,921 | €0 | -€2,921 | -100.0% |
| Financial charges | 65/66B | €19,268 | €13,533 | -€5,735 | -29.8% |
| Recurring financial charges | 65 | €19,268 | €13,533 | -€5,735 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €32,803 | €39,595 | +€6,792 | +20.7% |
| Transfer from deferred taxes | 780 | €3,277 | €3,277 | = | 0.0% |
| Income taxes | 67/77 | €12,511 | €13,650 | +€1,139 | +9.1% |
| Profit (loss) for the period | 9904 | €23,569 | €29,222 | +€5,653 | +24.0% |
| Transfer from tax-exempt reserves | 789 | €9,830 | €9,830 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,400 | €39,052 | +€5,653 | +16.9% |
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.