JE GROUP: 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.
JE GROUP
Largest movements
- Receivables within one year -€167,114
down €167,114 (-31.8%), from €525,403 to €358,289
of which Trade receivables: -€165,186
- Stocks and contracts +€74,231
up €74,231 (+371%), from €20,022 to €94,252
- Cash -€56,278
down €56,278 (-39.7%), from €141,749 to €85,471
mainly Trade debts (-€199,381) and Stocks and contracts (-€74,231)
- Deferred charges and accrued income +€8,936
up €8,936 (+544%), from €1,642 to €10,577
- Trade debts -€199,381
down €199,381 (-65.3%), from €305,527 to €106,147
- Reserves +€60,800
up €60,800 (+18.7%), from €325,500 to €386,300
- Gross operating margin +€136,563
up €136,563 (+74.4%), from €183,548 to €320,111
- Write-downs +€42,871
new in 2025: €42,871
- Staff costs +€35,565
up €35,565 (+37.5%), from €94,889 to €130,453
- Taxes +€15,534
up €15,534 (+105%), from €14,847 to €30,381
- Depreciation +€7,472
up €7,472 (+33.4%), from €22,347 to €29,819
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 | €773,213 | €637,281 | -€135,932 | -17.6% |
| Fixed assets | 21/28 | €84,397 | €88,692 | +€4,294 | +5.1% |
| Tangible fixed assets | 22/27 | €83,764 | €88,059 | +€4,294 | +5.1% |
| Land and buildings | 22 | €1,489 | €784 | -€705 | -47.3% |
| Plant, machinery and equipment | 23 | €789 | €557 | -€232 | -29.4% |
| Furniture and vehicles | 24 | €41,807 | €31,076 | -€10,731 | -25.7% |
| Leasing and similar rights | 25 | €39,680 | €55,642 | +€15,962 | +40.2% |
| Financial fixed assets | 28 | €633 | €633 | = | 0.0% |
| Current assets | 29/58 | €688,816 | €548,590 | -€140,226 | -20.4% |
| Stocks and contracts in progress | 3 | €20,022 | €94,252 | +€74,231 | +371% |
| Stocks | 30/36 | €20,022 | €94,252 | +€74,231 | +371% |
| Amounts receivable within one year | 40/41 | €525,403 | €358,289 | -€167,114 | -31.8% |
| Trade receivables | 40 | €485,996 | €320,810 | -€165,186 | -34.0% |
| Other amounts receivable | 41 | €39,407 | €37,480 | -€1,928 | -4.9% |
| Cash at bank and in hand | 54/58 | €141,749 | €85,471 | -€56,278 | -39.7% |
| Deferred charges and accrued income | 490/1 | €1,642 | €10,577 | +€8,936 | +544% |
| Total equity and liabilities | 10/49 | €773,213 | €637,281 | -€135,932 | -17.6% |
| Equity | 10/15 | €354,414 | €415,239 | +€60,825 | +17.2% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €325,500 | €386,300 | +€60,800 | +18.7% |
| Distributable reserves | 133 | €325,500 | €386,300 | +€60,800 | +18.7% |
| Profit (loss) carried forward | 14 | €8,509 | €8,534 | +€25 | +0.3% |
| Amounts payable | 17/49 | €418,799 | €222,042 | -€196,757 | -47.0% |
| Amounts payable after more than one year | 17 | €46,153 | €50,779 | +€4,626 | +10.0% |
| Financial debts | 170/4 | €46,153 | €50,779 | +€4,626 | +10.0% |
| Amounts payable within one year | 42/48 | €372,541 | €171,180 | -€201,361 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €12,642 | €18,835 | +€6,193 | +49.0% |
| Trade debts | 44 | €305,527 | €106,147 | -€199,381 | -65.3% |
| Suppliers | 440/4 | €305,527 | €106,147 | -€199,381 | -65.3% |
| Taxes, remuneration and social security | 45 | €33,478 | €26,469 | -€7,010 | -20.9% |
| Taxes | 450/3 | €26,976 | €25,424 | -€1,552 | -5.8% |
| Remuneration and social security | 454/9 | €6,502 | €1,044 | -€5,458 | -83.9% |
| Other amounts payable | 47/48 | €20,894 | €19,730 | -€1,163 | -5.6% |
| Accrued charges and deferred income | 492/3 | €105 | €83 | -€22 | -20.9% |
| Non-recurring operating income | 76A | €9,067 | - | -€9,067 | |
| Remuneration, social security and pensions | 62 | €94,889 | €130,453 | +€35,565 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,347 | €29,819 | +€7,472 | +33.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €42,871 | +€42,871 | |
| Other operating charges | 640/8 | €20,102 | €17,080 | -€3,022 | -15.0% |
| Gross operating margin | 9900 | €183,548 | €320,111 | +€136,563 | +74.4% |
| Operating profit (loss) | 9901 | €46,211 | €99,888 | +€53,677 | +116% |
| Financial income | 75/76B | €54 | €236 | +€182 | +334% |
| Recurring financial income | 75 | €54 | €236 | +€182 | +334% |
| Financial charges | 65/66B | €5,201 | €8,919 | +€3,718 | +71.5% |
| Recurring financial charges | 65 | €5,201 | €8,919 | +€3,718 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €41,064 | €91,206 | +€50,142 | +122% |
| Income taxes | 67/77 | €14,847 | €30,381 | +€15,534 | +105% |
| Profit (loss) for the period | 9904 | €26,218 | €60,825 | +€34,607 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €26,218 | €60,825 | +€34,607 | +132% |
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 26 October 2026 via checked.be.