JEF STABLES: 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 STABLES
Largest movements
- Tangible fixed assets +€35,950
up €35,950 (+61.1%), from €58,805 to €94,755
of which Furniture and vehicles: +€34,353
- Stocks and contracts +€7,371
up €7,371 (+130.4%), from €5,654 to €13,025
- Cash -€5,166
down €5,166 (-19.8%), from €26,143 to €20,977
mainly Investment in fixed assets (net) (-€48,729) and Stocks and contracts (-€7,371)
- Intangible fixed assets -€4,500
down €4,500 (-10.0%), from €45,000 to €40,500
- Receivables within one year +€3,553
up €3,553 (+35.6%), from €9,976 to €13,529
of which Trade receivables: +€6,199
- Debts after one year +€29,557
up €29,557 (+24.0%), from €123,256 to €152,813
- Other debts -€7,049
down €7,049 (-30.1%), from €23,384 to €16,335
- Tax, wage and social debts +€5,636
up €5,636 (+448.3%), from €1,257 to €6,894
of which Taxes: +€5,831
- Current portion of long-term debt +€4,363
new in 2025: €4,363
- Profit (loss) carried forward +€2,714
up €2,714 (+63.3%), from -€4,289 to -€1,575
- Gross operating margin +€30,883
up €30,883, from -€680 to €30,203
- Depreciation +€17,279
new in 2025: €17,279
- Staff costs +€5,847
up €5,847 (+199.0%), from €2,938 to €8,785
- Financial charges +€758
up €758 (+1287.6%), from €59 to €817
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 | €151,597 | €188,806 | +€37,209 | +24.5% |
| Fixed assets | 21/28 | €103,805 | €135,255 | +€31,450 | +30.3% |
| Intangible fixed assets | 21 | €45,000 | €40,500 | -€4,500 | -10.0% |
| Tangible fixed assets | 22/27 | €58,805 | €94,755 | +€35,950 | +61.1% |
| Plant, machinery and equipment | 23 | €16,945 | €14,359 | -€2,587 | -15.3% |
| Furniture and vehicles | 24 | €41,860 | €76,213 | +€34,353 | +82.1% |
| Other tangible fixed assets | 26 | - | €4,184 | +€4,184 | |
| Current assets | 29/58 | €47,792 | €53,550 | +€5,758 | +12.0% |
| Stocks and contracts in progress | 3 | €5,654 | €13,025 | +€7,371 | +130.4% |
| Stocks | 30/36 | €5,654 | €13,025 | +€7,371 | +130.4% |
| Amounts receivable within one year | 40/41 | €9,976 | €13,529 | +€3,553 | +35.6% |
| Trade receivables | 40 | €6,930 | €13,129 | +€6,199 | +89.4% |
| Other amounts receivable | 41 | €3,046 | €401 | -€2,645 | -86.8% |
| Cash at bank and in hand | 54/58 | €26,143 | €20,977 | -€5,166 | -19.8% |
| Deferred charges and accrued income | 490/1 | €6,019 | €6,019 | = | 0.0% |
| Total equity and liabilities | 10/49 | €151,597 | €188,806 | +€37,209 | +24.5% |
| Equity | 10/15 | -€1,789 | €925 | +€2,714 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,289 | -€1,575 | +€2,714 | +63.3% |
| Amounts payable | 17/49 | €153,386 | €187,881 | +€34,495 | +22.5% |
| Amounts payable after more than one year | 17 | €123,256 | €152,813 | +€29,557 | +24.0% |
| Financial debts | 170/4 | €123,256 | €152,813 | +€29,557 | +24.0% |
| Amounts payable within one year | 42/48 | €30,130 | €35,068 | +€4,938 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,363 | +€4,363 | |
| Trade debts | 44 | €5,488 | €7,476 | +€1,988 | +36.2% |
| Suppliers | 440/4 | €5,488 | €7,476 | +€1,988 | +36.2% |
| Taxes, remuneration and social security | 45 | €1,257 | €6,894 | +€5,636 | +448.3% |
| Taxes | 450/3 | €401 | €6,232 | +€5,831 | +1453.3% |
| Remuneration and social security | 454/9 | €856 | €662 | -€194 | -22.7% |
| Other amounts payable | 47/48 | €23,384 | €16,335 | -€7,049 | -30.1% |
| Remuneration, social security and pensions | 62 | €2,938 | €8,785 | +€5,847 | +199.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €17,279 | +€17,279 | |
| Other operating charges | 640/8 | €612 | €608 | -€4 | -0.7% |
| Gross operating margin | 9900 | -€680 | €30,203 | +€30,883 | |
| Operating profit (loss) | 9901 | -€4,230 | €3,531 | +€7,762 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100.0% |
| Financial charges | 65/66B | €59 | €817 | +€758 | +1287.6% |
| Recurring financial charges | 65 | €59 | €817 | +€758 | +1287.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,289 | €2,714 | +€7,003 | |
| Profit (loss) for the period | 9904 | -€4,289 | €2,714 | +€7,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,289 | €2,714 | +€7,003 |
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 9 October 2026 via checked.be.