JEF: 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.
JEF
Largest movements
- Cash -€7,875
down €7,875 (-16.8%), from €46,885 to €39,010
mainly Investment in fixed assets (net) (-€9,270) and Net result for the year (-€4,399)
- Receivables within one year +€963
up €963 (+892%), from €108 to €1,071
- Tangible fixed assets +€863
up €863 (+6.8%), from €12,734 to €13,597
of which Furniture and vehicles: +€6,295
- Stocks and contracts -€710
down €710 (-21.4%), from €3,323 to €2,613
- Profit (loss) carried forward -€4,400
down €4,400 (-21.0%), from €20,957 to €16,557
- Other debts -€2,262
down €2,262 (-38.6%), from €5,859 to €3,597
- Trade debts -€1,101
down €1,101 (-11.6%), from €9,510 to €8,409
- Tax, wage and social debts +€1,004
up €1,004 (+12.9%), from €7,759 to €8,763
of which Taxes: +€922
- Staff costs +€7,157
up €7,157 (+34.5%), from €20,749 to €27,906
- Depreciation +€3,760
up €3,760 (+80.9%), from €4,647 to €8,407
- Gross operating margin -€926
down €926 (-2.5%), from €36,956 to €36,030
- Other operating charges +€397
up €397 (+184%), from €216 to €613
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 | €63,275 | €56,516 | -€6,759 | -10.7% |
| Fixed assets | 21/28 | €12,959 | €13,822 | +€863 | +6.7% |
| Tangible fixed assets | 22/27 | €12,734 | €13,597 | +€863 | +6.8% |
| Plant, machinery and equipment | 23 | €11,522 | €6,090 | -€5,432 | -47.1% |
| Furniture and vehicles | 24 | €1,212 | €7,507 | +€6,295 | +519% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €50,316 | €42,694 | -€7,622 | -15.1% |
| Stocks and contracts in progress | 3 | €3,323 | €2,613 | -€710 | -21.4% |
| Stocks | 30/36 | €3,323 | €2,613 | -€710 | -21.4% |
| Amounts receivable within one year | 40/41 | €108 | €1,071 | +€963 | +892% |
| Other amounts receivable | 41 | €108 | €1,071 | +€963 | +892% |
| Cash at bank and in hand | 54/58 | €46,885 | €39,010 | -€7,875 | -16.8% |
| Total equity and liabilities | 10/49 | €63,275 | €56,516 | -€6,759 | -10.7% |
| Equity | 10/15 | €40,147 | €35,747 | -€4,400 | -11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €590 | €590 | = | 0.0% |
| Non-distributable reserves | 130/1 | €590 | €590 | = | 0.0% |
| Legal reserve | 130 | €590 | €590 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,957 | €16,557 | -€4,400 | -21.0% |
| Amounts payable | 17/49 | €23,128 | €20,769 | -€2,359 | -10.2% |
| Amounts payable within one year | 42/48 | €23,128 | €20,769 | -€2,359 | -10.2% |
| Trade debts | 44 | €9,510 | €8,409 | -€1,101 | -11.6% |
| Suppliers | 440/4 | €9,510 | €8,409 | -€1,101 | -11.6% |
| Taxes, remuneration and social security | 45 | €7,759 | €8,763 | +€1,004 | +12.9% |
| Taxes | 450/3 | €5,012 | €5,934 | +€922 | +18.4% |
| Remuneration and social security | 454/9 | €2,747 | €2,829 | +€82 | +3.0% |
| Other amounts payable | 47/48 | €5,859 | €3,597 | -€2,262 | -38.6% |
| Remuneration, social security and pensions | 62 | €20,749 | €27,906 | +€7,157 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,647 | €8,407 | +€3,760 | +80.9% |
| Other operating charges | 640/8 | €216 | €613 | +€397 | +184% |
| Gross operating margin | 9900 | €36,956 | €36,030 | -€926 | -2.5% |
| Operating profit (loss) | 9901 | €11,344 | -€896 | -€12,240 | |
| Financial income | 75/76B | €187 | €307 | +€120 | +64.2% |
| Recurring financial income | 75 | €187 | €307 | +€120 | +64.2% |
| Financial charges | 65/66B | €1,287 | €1,337 | +€50 | +3.9% |
| Recurring financial charges | 65 | €1,287 | €1,337 | +€50 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €10,244 | -€1,926 | -€12,170 | |
| Income taxes | 67/77 | €2,589 | €2,473 | -€116 | -4.5% |
| Profit (loss) for the period | 9904 | €7,655 | -€4,399 | -€12,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,655 | -€4,399 | -€12,054 |
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 18 October 2026 via checked.be.