JEF Project: 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.
JEF Project
Largest movements
- Tangible fixed assets +€238,280
up €238,280 (+26.7%), from €893,289 to €1.1m
- Debts after one year +€246,545
up €246,545 (+79.1%), from €311,677 to €558,221
- Profit (loss) carried forward -€20,058
down €20,058 (-11.3%), from -€177,373 to -€197,431
- Other operating charges +€13,661
up €13,661 (+307.3%), from €4,445 to €18,107
- Financial charges +€3,296
up €3,296 (+51.4%), from €6,418 to €9,713
- Gross operating margin -€1,380
down €1,380 (-3.3%), from €41,518 to €40,138
- Depreciation +€1,308
up €1,308 (+4.2%), from €31,068 to €32,376
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 | €901,111 | €1,134,559 | +€233,448 | +25.9% |
| Fixed assets | 21/28 | €893,289 | €1,131,569 | +€238,280 | +26.7% |
| Tangible fixed assets | 22/27 | €893,289 | €1,131,569 | +€238,280 | +26.7% |
| Land and buildings | 22 | €893,289 | €1,131,569 | +€238,280 | +26.7% |
| Current assets | 29/58 | €7,821 | €2,990 | -€4,831 | -61.8% |
| Amounts receivable within one year | 40/41 | €679 | €755 | +€76 | +11.2% |
| Trade receivables | 40 | - | €76 | +€76 | |
| Other amounts receivable | 41 | €679 | €679 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,497 | €2,235 | -€4,262 | -65.6% |
| Deferred charges and accrued income | 490/1 | €646 | - | -€646 | |
| Total equity and liabilities | 10/49 | €901,111 | €1,134,559 | +€233,448 | +25.9% |
| Equity | 10/15 | €222,627 | €202,569 | -€20,058 | -9.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,373 | -€197,431 | -€20,058 | -11.3% |
| Amounts payable | 17/49 | €678,484 | €931,989 | +€253,506 | +37.4% |
| Amounts payable after more than one year | 17 | €311,677 | €558,221 | +€246,545 | +79.1% |
| Financial debts | 170/4 | €311,677 | €558,221 | +€246,545 | +79.1% |
| Amounts payable within one year | 42/48 | €366,807 | €373,768 | +€6,961 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €21,223 | €30,584 | +€9,361 | +44.1% |
| Other amounts payable | 47/48 | €345,584 | €343,184 | -€2,400 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,068 | €32,376 | +€1,308 | +4.2% |
| Other operating charges | 640/8 | €4,445 | €18,107 | +€13,661 | +307.3% |
| Gross operating margin | 9900 | €41,518 | €40,138 | -€1,380 | -3.3% |
| Operating profit (loss) | 9901 | €6,005 | -€10,344 | -€16,349 | |
| Financial charges | 65/66B | €6,418 | €9,713 | +€3,296 | +51.4% |
| Recurring financial charges | 65 | €6,418 | €9,713 | +€3,296 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | -€413 | -€20,058 | -€19,645 | -4759.4% |
| Profit (loss) for the period | 9904 | -€413 | -€20,058 | -€19,645 | -4759.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€413 | -€20,058 | -€19,645 | -4759.4% |
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 30 September 2026 via checked.be.