JEE - M - JEE: 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.
What changed
JEE - M - JEE
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€198,464
2024 · -€293,208+€94,744
Equity
€3.5m
2024 · €3.7m-€198,464
Cash
€319,287
2024 · €113,139+€206,148
Balance sheet total
€8.7m
2024 · €8.8m-€139,858
Largest movements
Assets
- Current investments -€244,791
down €244,791 (-11.9%), from €2.0m to €1.8m
- Cash +€206,148
up €206,148 (+182.2%), from €113,139 to €319,287
mainly Current investments (+€244,791) and Accrued charges and deferred income (+€179,900)
Equity and liabilities
- Profit (loss) carried forward -€198,464
down €198,464 (-70.1%), from -€283,257 to -€481,721
- Accrued charges and deferred income +€179,900
up €179,900 (+99.5%), from €180,750 to €360,650
- Debts after one year -€115,293
down €115,293 (-2.4%), from €4.8m to €4.7m
Income statement
- Financial income +€142,795
up €142,795 (+256.8%), from €55,603 to €198,398
- Gross operating margin +€64,135
up €64,135 (+82.6%), from -€77,686 to -€13,551
- Taxes +€50,254
up €50,254 (+5471.2%), from €919 to €51,172
- Depreciation -€9,632
down €9,632 (-19.8%), from €48,655 to €39,023
- Financial charges +€1,550
up €1,550 (+0.7%), from €215,602 to €217,152
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.
Result 2024
-€293,208
Gross operating margin
+€64,135
Depreciation
+€9,632
Other operating charges
+€168
Other operating items
-€70,180
Financial income
+€142,795
Financial charges
-€1,550
Taxes
-€50,254
Result 2025
-€198,464
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.
From operations
+€63,220
Investment
+€257,698
Financing
-€114,769
Cash 2024
€113,139
From operations (derived)
+€63,220
Net result for the year
-€198,464
Depreciation
+€39,023
Receivables within one year
+€49,286
Trade debts
+€5,082
Tax, wage and social debts
-€719
Other debts
-€10,888
Accrued charges and deferred income
+€179,900
Investment (derived)
+€257,698
Investment in fixed assets (net)
+€12,907
Current investments
+€244,791
Financing
-€114,769
Debts after one year
-€115,293
Current portion of long-term debt
+€264
Short-term financial debts
+€260
Cash 2025
€319,287
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,819,691 | €8,679,833 | -€139,858 | -1.6% |
| Fixed assets | 21/28 | €6,104,486 | €6,052,556 | -€51,930 | -0.9% |
| Tangible fixed assets | 22/27 | €1,182,179 | €1,130,249 | -€51,930 | -4.4% |
| Land and buildings | 22 | €1,134,305 | €1,081,350 | -€52,955 | -4.7% |
| Plant, machinery and equipment | 23 | €14,364 | €8,000 | -€6,364 | -44.3% |
| Furniture and vehicles | 24 | €33,510 | €34,536 | +€1,026 | +3.1% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €6,364 | +€6,364 | |
| Financial fixed assets | 28 | €4,922,307 | €4,922,307 | = | 0.0% |
| Current assets | 29/58 | €2,715,205 | €2,627,276 | -€87,929 | -3.2% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,377 | €4,091 | -€49,286 | -92.3% |
| Trade receivables | 40 | €5,914 | €1,768 | -€4,146 | -70.1% |
| Other amounts receivable | 41 | €47,463 | €2,323 | -€45,140 | -95.1% |
| Current investments | 50/53 | €2,048,690 | €1,803,898 | -€244,791 | -11.9% |
| Cash at bank and in hand | 54/58 | €113,139 | €319,287 | +€206,148 | +182.2% |
| Total equity and liabilities | 10/49 | €8,819,691 | €8,679,833 | -€139,858 | -1.6% |
| Equity | 10/15 | €3,704,665 | €3,506,201 | -€198,464 | -5.4% |
| Contributions | 10/11 | €2,940,907 | €2,940,907 | = | 0.0% |
| Reserves | 13 | €1,047,015 | €1,047,015 | = | 0.0% |
| Distributable reserves | 133 | €1,047,015 | €1,047,015 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,257 | -€481,721 | -€198,464 | -70.1% |
| Amounts payable | 17/49 | €5,115,026 | €5,173,631 | +€58,605 | +1.1% |
| Amounts payable after more than one year | 17 | €4,799,358 | €4,684,065 | -€115,293 | -2.4% |
| Financial debts | 170/4 | €4,799,358 | €4,684,065 | -€115,293 | -2.4% |
| Amounts payable within one year | 42/48 | €134,918 | €128,916 | -€6,001 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €112,029 | €112,293 | +€264 | +0.2% |
| Financial debts | 43 | - | €260 | +€260 | |
| Credit institutions | 430/8 | - | €260 | +€260 | |
| Trade debts | 44 | €5,537 | €10,619 | +€5,082 | +91.8% |
| Suppliers | 440/4 | €5,537 | €10,619 | +€5,082 | +91.8% |
| Taxes, remuneration and social security | 45 | €6,197 | €5,478 | -€719 | -11.6% |
| Taxes | 450/3 | €6,197 | €5,478 | -€719 | -11.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,154 | €266 | -€10,888 | -97.6% |
| Accrued charges and deferred income | 492/3 | €180,750 | €360,650 | +€179,900 | +99.5% |
| Non-recurring operating income | 76A | €3,159 | - | -€3,159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,655 | €39,023 | -€9,632 | -19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,951 | €5,783 | -€168 | -2.8% |
| Non-recurring operating charges | 66A | €0 | €70,180 | +€70,180 | |
| Gross operating margin | 9900 | -€77,686 | -€13,551 | +€64,135 | +82.6% |
| Operating profit (loss) | 9901 | -€132,291 | -€128,537 | +€3,754 | +2.8% |
| Financial income | 75/76B | €55,603 | €198,398 | +€142,795 | +256.8% |
| Recurring financial income | 75 | €55,603 | €198,398 | +€142,795 | +256.8% |
| Financial charges | 65/66B | €215,602 | €217,152 | +€1,550 | +0.7% |
| Recurring financial charges | 65 | €215,602 | €217,152 | +€1,550 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | -€292,289 | -€147,291 | +€144,998 | +49.6% |
| Income taxes | 67/77 | €919 | €51,172 | +€50,254 | +5471.2% |
| Profit (loss) for the period | 9904 | -€293,208 | -€198,464 | +€94,744 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€293,208 | -€198,464 | +€94,744 | +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 2 October 2026 via checked.be.