JEFF BRUSSELS: what changed
JEFF BRUSSELS
Largest movements
- Receivables within one year -€29,453
down €29,453 (-16.6%), from €176,920 to €147,467
of which Trade receivables: -€51,559
- Cash -€27,088
down €27,088 (-74.1%), from €36,570 to €9,481
mainly Other debts (-€51,186) and Trade debts (-€8,117)
- Stocks and contracts +€5,814
up €5,814 (+5.1%), from €113,218 to €119,032
- Other debts -€51,186
down €51,186 (-100%), from €51,186 to €0
- Trade debts -€8,117
down €8,117 (-24.3%), from €33,389 to €25,272
of which Bills of exchange payable: -€5,220
- Reserves +€6,100
up €6,100 (+12.9%), from €47,200 to €53,300
of which Distributable reserves: +€6,100
- Gross operating margin -€3,121
down €3,121 (-15.2%), from €20,511 to €17,391
- Taxes -€889
down €889 (-28.5%), from €3,122 to €2,233
- Financial charges +€549
up €549 (+6.8%), from €8,094 to €8,643
- Financial income -€423
down €423 (-74.4%), from €569 to €146
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €326,708 | €275,981 | -€50,727 | -15.5% |
| Current assets | 29/58 | €326,708 | €275,981 | -€50,727 | -15.5% |
| Stocks and contracts in progress | 3 | €113,218 | €119,032 | +€5,814 | +5.1% |
| Stocks | 30/36 | €113,218 | €119,032 | +€5,814 | +5.1% |
| Amounts receivable within one year | 40/41 | €176,920 | €147,467 | -€29,453 | -16.6% |
| Trade receivables | 40 | €97,189 | €45,630 | -€51,559 | -53.1% |
| Other amounts receivable | 41 | €79,731 | €101,837 | +€22,107 | +27.7% |
| Cash at bank and in hand | 54/58 | €36,570 | €9,481 | -€27,088 | -74.1% |
| Total equity and liabilities | 10/49 | €326,708 | €275,981 | -€50,727 | -15.5% |
| Equity | 10/15 | €113,202 | €119,335 | +€6,133 | +5.4% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €47,200 | €53,300 | +€6,100 | +12.9% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Legal reserve | 130 | €6,600 | €6,600 | = | 0.0% |
| Distributable reserves | 133 | €40,600 | €46,700 | +€6,100 | +15.0% |
| Profit (loss) carried forward | 14 | €2 | €35 | +€33 | +1,428% |
| Amounts payable | 17/49 | €213,505 | €156,645 | -€56,860 | -26.6% |
| Amounts payable within one year | 42/48 | €213,505 | €156,645 | -€56,860 | -26.6% |
| Financial debts | 43 | €125,249 | €126,019 | +€769 | +0.6% |
| Credit institutions | 430/8 | €125,249 | €126,019 | +€769 | +0.6% |
| Trade debts | 44 | €33,389 | €25,272 | -€8,117 | -24.3% |
| Suppliers | 440/4 | €28,169 | €25,272 | -€2,897 | -10.3% |
| Bills of exchange payable | 441 | €5,220 | €0 | -€5,220 | -100% |
| Taxes, remuneration and social security | 45 | €3,681 | €5,354 | +€1,674 | +45.5% |
| Taxes | 450/3 | €3,681 | €5,354 | +€1,674 | +45.5% |
| Other amounts payable | 47/48 | €51,186 | €0 | -€51,186 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €20,511 | €17,391 | -€3,121 | -15.2% |
| Operating profit (loss) | 9901 | €19,998 | €16,863 | -€3,135 | -15.7% |
| Financial income | 75/76B | €569 | €146 | -€423 | -74.4% |
| Recurring financial income | 75 | €569 | €146 | -€423 | -74.4% |
| Financial charges | 65/66B | €8,094 | €8,643 | +€549 | +6.8% |
| Recurring financial charges | 65 | €8,094 | €8,643 | +€549 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €12,473 | €8,366 | -€4,107 | -32.9% |
| Income taxes | 67/77 | €3,122 | €2,233 | -€889 | -28.5% |
| Profit (loss) for the period | 9904 | €9,351 | €6,133 | -€3,218 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,351 | €6,133 | -€3,218 | -34.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.