JCI 37: 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.
JCI 37
Largest movements
- Receivables within one year +€49,934
up €49,934 (+436%), from €11,441 to €61,376
of which Other amounts receivable: +€49,118
- Tangible fixed assets -€24,443
down €24,443 (-6.7%), from €366,103 to €341,661
- Trade debts +€16,453
up €16,453 (+19.7%), from €83,551 to €100,004
- Profit (loss) carried forward +€5,390
up €5,390 (+5.8%), from -€92,183 to -€86,794
- Other debts -€5,143
no longer reported in 2025 (was €5,143)
- Short-term financial debts +€4,620
up €4,620 (+23.1%), from €19,996 to €24,617
of which Other loans: +€5,112
- Financial charges +€16,217
up €16,217 (+52.9%), from €30,665 to €46,882
- Staff costs -€14,175
down €14,175 (-30.8%), from €46,044 to €31,868
- Other operating charges -€8,660
down €8,660 (-74.3%), from €11,657 to €2,997
- Gross operating margin +€6,777
up €6,777 (+6.4%), from €106,488 to €113,265
- Depreciation +€6,692
up €6,692 (+31.8%), from €21,016 to €27,708
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 | €420,616 | €442,330 | +€21,714 | +5.2% |
| Fixed assets | 21/28 | €368,803 | €342,781 | -€26,023 | -7.1% |
| Tangible fixed assets | 22/27 | €366,103 | €341,661 | -€24,443 | -6.7% |
| Land and buildings | 22 | €306,405 | €296,008 | -€10,397 | -3.4% |
| Plant, machinery and equipment | 23 | €18,512 | €14,883 | -€3,629 | -19.6% |
| Furniture and vehicles | 24 | €17,796 | €15,290 | -€2,505 | -14.1% |
| Other tangible fixed assets | 26 | €23,390 | €15,479 | -€7,911 | -33.8% |
| Financial fixed assets | 28 | €2,700 | €1,120 | -€1,580 | -58.5% |
| Current assets | 29/58 | €51,813 | €99,550 | +€47,737 | +92.1% |
| Stocks and contracts in progress | 3 | €37,998 | €34,512 | -€3,486 | -9.2% |
| Stocks | 30/36 | €37,998 | €34,512 | -€3,486 | -9.2% |
| Amounts receivable within one year | 40/41 | €11,441 | €61,376 | +€49,934 | +436% |
| Trade receivables | 40 | €222 | €1,038 | +€816 | +368% |
| Other amounts receivable | 41 | €11,219 | €60,337 | +€49,118 | +438% |
| Cash at bank and in hand | 54/58 | €1,643 | €3,303 | +€1,660 | +101% |
| Deferred charges and accrued income | 490/1 | €730 | €359 | -€371 | -50.8% |
| Total equity and liabilities | 10/49 | €420,616 | €442,330 | +€21,714 | +5.2% |
| Equity | 10/15 | -€73,583 | -€68,194 | +€5,390 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,183 | -€86,794 | +€5,390 | +5.8% |
| Amounts payable | 17/49 | €494,200 | €510,524 | +€16,324 | +3.3% |
| Amounts payable after more than one year | 17 | €345,322 | €348,902 | +€3,580 | +1.0% |
| Financial debts | 170/4 | €345,322 | €348,902 | +€3,580 | +1.0% |
| Amounts payable within one year | 42/48 | €148,878 | €161,622 | +€12,744 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €12,665 | €11,015 | -€1,651 | -13.0% |
| Financial debts | 43 | €19,996 | €24,617 | +€4,620 | +23.1% |
| Credit institutions | 430/8 | €19,996 | €19,505 | -€491 | -2.5% |
| Other loans | 439 | - | €5,112 | +€5,112 | |
| Trade debts | 44 | €83,551 | €100,004 | +€16,453 | +19.7% |
| Suppliers | 440/4 | €83,551 | €100,004 | +€16,453 | +19.7% |
| Taxes, remuneration and social security | 45 | €27,522 | €25,987 | -€1,536 | -5.6% |
| Taxes | 450/3 | €26,639 | €21,866 | -€4,773 | -17.9% |
| Remuneration and social security | 454/9 | €883 | €4,121 | +€3,237 | +366% |
| Other amounts payable | 47/48 | €5,143 | - | -€5,143 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €391 | €0 | -€391 | -100% |
| Remuneration, social security and pensions | 62 | €46,044 | €31,868 | -€14,175 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,016 | €27,708 | +€6,692 | +31.8% |
| Other operating charges | 640/8 | €11,657 | €2,997 | -€8,660 | -74.3% |
| Gross operating margin | 9900 | €106,488 | €113,265 | +€6,777 | +6.4% |
| Operating profit (loss) | 9901 | €27,771 | €50,692 | +€22,920 | +82.5% |
| Financial income | 75/76B | €4 | €1,949 | +€1,944 | +43,993% |
| Recurring financial income | 75 | €4 | €1,949 | +€1,944 | +43,993% |
| Financial charges | 65/66B | €30,665 | €46,882 | +€16,217 | +52.9% |
| Recurring financial charges | 65 | €30,665 | €46,882 | +€16,217 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,889 | €5,759 | +€8,648 | |
| Income taxes | 67/77 | €397 | €369 | -€27 | -6.9% |
| Profit (loss) for the period | 9904 | -€3,285 | €5,390 | +€8,675 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,285 | €5,390 | +€8,675 |
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 19 October 2026 via checked.be.