JBT: 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.
JBT
Largest movements
- Receivables after one year +€45,626
new in 2025: €45,626
- Tangible fixed assets +€28,978
up €28,978 (+797%), from €3,637 to €32,615
of which Other tangible fixed assets: +€26,833
- Cash -€28,196
down €28,196 (-33.5%), from €84,146 to €55,950
mainly Receivables after one year (-€45,626) and Investment in fixed assets (net) (-€31,775)
- Current investments +€25,000
new in 2025: €25,000
- Receivables within one year -€10,655
down €10,655 (-95.9%), from €11,112 to €456
of which Trade receivables: -€11,112
- Reserves +€50,424
up €50,424 (+161%), from €31,343 to €81,766
- Tax, wage and social debts +€19,332
up €19,332 (+164%), from €11,815 to €31,146
of which Taxes: +€17,332
- Gross operating margin +€27,027
up €27,027 (+55.9%), from €48,318 to €75,345
- Taxes +€3,267
up €3,267 (+27.7%), from €11,815 to €15,082
- Depreciation +€2,445
up €2,445 (+694%), from €352 to €2,797
- Financial charges +€2,209
up €2,209 (+307%), from €719 to €2,928
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 | €98,894 | €167,510 | +€68,616 | +69.4% |
| Fixed assets | 21/28 | €3,637 | €32,615 | +€28,978 | +797% |
| Tangible fixed assets | 22/27 | €3,637 | €32,615 | +€28,978 | +797% |
| Plant, machinery and equipment | 23 | €3,637 | €5,782 | +€2,145 | +59.0% |
| Other tangible fixed assets | 26 | - | €26,833 | +€26,833 | |
| Current assets | 29/58 | €95,257 | €134,896 | +€39,638 | +41.6% |
| Amounts receivable after more than one year | 29 | - | €45,626 | +€45,626 | |
| Other amounts receivable | 291 | - | €45,626 | +€45,626 | |
| Amounts receivable within one year | 40/41 | €11,112 | €456 | -€10,655 | -95.9% |
| Trade receivables | 40 | €11,112 | - | -€11,112 | |
| Other amounts receivable | 41 | - | €456 | +€456 | |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €84,146 | €55,950 | -€28,196 | -33.5% |
| Deferred charges and accrued income | 490/1 | - | €7,864 | +€7,864 | |
| Total equity and liabilities | 10/49 | €98,894 | €167,510 | +€68,616 | +69.4% |
| Equity | 10/15 | €31,443 | €81,866 | +€50,424 | +160% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €31,343 | €81,766 | +€50,424 | +161% |
| Distributable reserves | 133 | €31,343 | €81,766 | +€50,424 | +161% |
| Amounts payable | 17/49 | €67,451 | €85,644 | +€18,192 | +27.0% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,733 | €34,925 | +€18,192 | +109% |
| Trade debts | 44 | - | €447 | +€447 | |
| Suppliers | 440/4 | - | €447 | +€447 | |
| Taxes, remuneration and social security | 45 | €11,815 | €31,146 | +€19,332 | +164% |
| Taxes | 450/3 | €11,815 | €29,146 | +€17,332 | +147% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €4,918 | €3,332 | -€1,586 | -32.2% |
| Accrued charges and deferred income | 492/3 | €719 | €719 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €2,797 | +€2,445 | +694% |
| Other operating charges | 640/8 | €653 | €783 | +€130 | +19.9% |
| Gross operating margin | 9900 | €48,318 | €75,345 | +€27,027 | +55.9% |
| Operating profit (loss) | 9901 | €47,312 | €71,765 | +€24,452 | +51.7% |
| Financial charges | 65/66B | €719 | €2,928 | +€2,209 | +307% |
| Recurring financial charges | 65 | €719 | €2,928 | +€2,209 | +307% |
| Profit (loss) for the period before taxes | 9903 | €46,593 | €68,837 | +€22,244 | +47.7% |
| Income taxes | 67/77 | €11,815 | €15,082 | +€3,267 | +27.7% |
| Profit (loss) for the period | 9904 | €34,779 | €53,756 | +€18,977 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,779 | €53,756 | +€18,977 | +54.6% |
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 14 October 2026 via checked.be.