JCA RESEARCH: 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.
JCA RESEARCH
Largest movements
- Cash -€47,488
down €47,488 (-20.5%), from €231,266 to €183,778
mainly Contributions, distributions and other (-€141,734) and Other debts (-€31,168)
- Receivables within one year +€4,000
new in 2025: €4,000
- Other debts -€31,168
down €31,168 (-21.6%), from €144,311 to €113,143
- Tax, wage and social debts -€12,373
down €12,373 (-14.2%), from €86,855 to €74,482
- Taxes -€5,650
down €5,650 (-11.0%), from €51,513 to €45,863
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 | €231,266 | €187,778 | -€43,488 | -18.8% |
| Current assets | 29/58 | €231,266 | €187,778 | -€43,488 | -18.8% |
| Amounts receivable within one year | 40/41 | - | €4,000 | +€4,000 | |
| Trade receivables | 40 | - | €4,000 | +€4,000 | |
| Cash at bank and in hand | 54/58 | €231,266 | €183,778 | -€47,488 | -20.5% |
| Total equity and liabilities | 10/49 | €231,266 | €187,778 | -€43,488 | -18.8% |
| Equity | 10/15 | €100 | €100 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Amounts payable | 17/49 | €231,166 | €187,678 | -€43,488 | -18.8% |
| Amounts payable within one year | 42/48 | €231,166 | €187,678 | -€43,488 | -18.8% |
| Trade debts | 44 | - | €53 | +€53 | |
| Suppliers | 440/4 | - | €53 | +€53 | |
| Taxes, remuneration and social security | 45 | €86,855 | €74,482 | -€12,373 | -14.2% |
| Taxes | 450/3 | €86,855 | €74,482 | -€12,373 | -14.2% |
| Other amounts payable | 47/48 | €144,311 | €113,143 | -€31,168 | -21.6% |
| Other operating charges | 640/8 | €853 | €881 | +€28 | +3.3% |
| Gross operating margin | 9900 | €186,178 | €187,744 | +€1,566 | +0.8% |
| Operating profit (loss) | 9901 | €185,325 | €186,863 | +€1,538 | +0.8% |
| Financial income | 75/76B | €348 | €1,000 | +€652 | +187.4% |
| Recurring financial income | 75 | €348 | €1,000 | +€652 | +187.4% |
| Financial charges | 65/66B | €209 | €266 | +€57 | +27.3% |
| Recurring financial charges | 65 | €209 | €266 | +€57 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €185,464 | €187,597 | +€2,133 | +1.2% |
| Income taxes | 67/77 | €51,513 | €45,863 | -€5,650 | -11.0% |
| Profit (loss) for the period | 9904 | €133,951 | €141,734 | +€7,783 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €133,951 | €141,734 | +€7,783 | +5.8% |
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 29 September 2026 via checked.be.