JEC management: 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.
JEC management
Largest movements
- Cash -€51,833
down €51,833 (-47.7%), from €108,683 to €56,850
mainly Contributions, distributions and other (-€104,824) and Receivables within one year (-€28,510)
- Receivables within one year +€28,510
up €28,510 (+1294.6%), from €2,202 to €30,712
of which Trade receivables: +€30,540
- Deferred charges and accrued income +€4,131
up €4,131 (+2198.0%), from €188 to €4,319
- Reserves -€72,361
down €72,361 (-96.9%), from €74,713 to €2,352
- Other debts +€53,135
new in 2025: €53,135
- Tax, wage and social debts -€5,326
down €5,326 (-29.5%), from €18,051 to €12,725
- Trade debts +€3,335
up €3,335 (+150.6%), from €2,214 to €5,549
- Gross operating margin -€15,311
down €15,311 (-23.0%), from €66,599 to €51,288
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 | €113,578 | €93,281 | -€20,297 | -17.9% |
| Fixed assets | 21/28 | €2,505 | €1,401 | -€1,104 | -44.1% |
| Tangible fixed assets | 22/27 | €2,505 | €1,401 | -€1,104 | -44.1% |
| Furniture and vehicles | 24 | €2,505 | €1,401 | -€1,104 | -44.1% |
| Current assets | 29/58 | €111,073 | €91,880 | -€19,193 | -17.3% |
| Amounts receivable within one year | 40/41 | €2,202 | €30,712 | +€28,510 | +1294.6% |
| Trade receivables | 40 | €0 | €30,540 | +€30,540 | |
| Other amounts receivable | 41 | €2,202 | €171 | -€2,031 | -92.2% |
| Cash at bank and in hand | 54/58 | €108,683 | €56,850 | -€51,833 | -47.7% |
| Deferred charges and accrued income | 490/1 | €188 | €4,319 | +€4,131 | +2198.0% |
| Total equity and liabilities | 10/49 | €113,578 | €93,281 | -€20,297 | -17.9% |
| Equity | 10/15 | €93,313 | €20,952 | -€72,361 | -77.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,713 | €2,352 | -€72,361 | -96.9% |
| Distributable reserves | 133 | €74,713 | €2,352 | -€72,361 | -96.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,265 | €72,328 | +€52,064 | +256.9% |
| Amounts payable within one year | 42/48 | €20,265 | €71,409 | +€51,144 | +252.4% |
| Trade debts | 44 | €2,214 | €5,549 | +€3,335 | +150.6% |
| Suppliers | 440/4 | €2,214 | €5,549 | +€3,335 | +150.6% |
| Taxes, remuneration and social security | 45 | €18,051 | €12,725 | -€5,326 | -29.5% |
| Taxes | 450/3 | €18,051 | €12,725 | -€5,326 | -29.5% |
| Other amounts payable | 47/48 | - | €53,135 | +€53,135 | |
| Accrued charges and deferred income | 492/3 | - | €919 | +€919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,732 | €1,104 | -€628 | -36.3% |
| Other operating charges | 640/8 | €682 | €701 | +€18 | +2.7% |
| Gross operating margin | 9900 | €66,599 | €51,288 | -€15,311 | -23.0% |
| Operating profit (loss) | 9901 | €64,184 | €49,483 | -€14,701 | -22.9% |
| Financial income | 75/76B | €111 | €25 | -€87 | -78.0% |
| Recurring financial income | 75 | €111 | €25 | -€87 | -78.0% |
| Financial charges | 65/66B | €2,248 | €2,706 | +€458 | +20.4% |
| Recurring financial charges | 65 | €2,248 | €2,706 | +€458 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €62,047 | €46,801 | -€15,246 | -24.6% |
| Income taxes | 67/77 | €14,073 | €14,338 | +€265 | +1.9% |
| Profit (loss) for the period | 9904 | €47,974 | €32,463 | -€15,511 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,974 | €32,463 | -€15,511 | -32.3% |
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 3 October 2026 via checked.be.