JEFFREY'S: 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.
JEFFREY'S
Largest movements
- Tangible fixed assets -€12,528
down €12,528 (-46.7%), from €26,851 to €14,323
- Receivables within one year -€2,193
down €2,193 (-33.2%), from €6,608 to €4,415
- Profit (loss) carried forward -€35,393
down €35,393 (-20.4%), from -€173,349 to -€208,742
- Other debts +€18,862
up €18,862 (+12.3%), from €153,816 to €172,679
- Tax, wage and social debts +€1,685
up €1,685 (+3.7%), from €45,625 to €47,310
of which Remuneration and social security: +€2,143
- Trade debts +€1,039
up €1,039 (+3.9%), from €26,924 to €27,963
- Current portion of long-term debt -€977
down €977 (-51.6%), from €1,892 to €916
- Gross operating margin +€42,559
up €42,559 (+21.4%), from €199,089 to €241,648
- Staff costs +€36,531
up €36,531 (+16.1%), from €227,480 to €264,010
- Financial income +€18,483
up €18,483 (+10,520%), from €176 to €18,658
of which Financial income: +€15,993
- Financial charges +€14,950
up €14,950 (+761%), from €1,965 to €16,915
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 | €61,359 | €46,576 | -€14,783 | -24.1% |
| Fixed assets | 21/28 | €34,038 | €21,510 | -€12,528 | -36.8% |
| Tangible fixed assets | 22/27 | €26,851 | €14,323 | -€12,528 | -46.7% |
| Land and buildings | 22 | €1,657 | €1,657 | = | 0.0% |
| Plant, machinery and equipment | 23 | €14,761 | €9,118 | -€5,643 | -38.2% |
| Furniture and vehicles | 24 | €7,259 | €1,032 | -€6,227 | -85.8% |
| Leasing and similar rights | 25 | €2,634 | €1,976 | -€659 | -25.0% |
| Other tangible fixed assets | 26 | €540 | €540 | = | 0.0% |
| Financial fixed assets | 28 | €7,187 | €7,187 | = | 0.0% |
| Current assets | 29/58 | €27,321 | €25,066 | -€2,255 | -8.3% |
| Stocks and contracts in progress | 3 | €9,444 | €9,444 | = | 0.0% |
| Stocks | 30/36 | €9,444 | €9,444 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,608 | €4,415 | -€2,193 | -33.2% |
| Other amounts receivable | 41 | €6,608 | €4,415 | -€2,193 | -33.2% |
| Cash at bank and in hand | 54/58 | €10,690 | €10,659 | -€32 | -0.3% |
| Deferred charges and accrued income | 490/1 | €579 | €548 | -€30 | -5.2% |
| Total equity and liabilities | 10/49 | €61,359 | €46,576 | -€14,783 | -24.1% |
| Equity | 10/15 | -€166,898 | -€202,291 | -€35,393 | -21.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,392 | €12,392 | = | 0.0% |
| Reserves | 13 | €251 | €251 | = | 0.0% |
| Non-distributable reserves | 130/1 | €251 | €251 | = | 0.0% |
| Legal reserve | 130 | €251 | €251 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,349 | -€208,742 | -€35,393 | -20.4% |
| Amounts payable | 17/49 | €228,257 | €248,867 | +€20,610 | +9.0% |
| Amounts payable within one year | 42/48 | €228,257 | €248,867 | +€20,610 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €1,892 | €916 | -€977 | -51.6% |
| Trade debts | 44 | €26,924 | €27,963 | +€1,039 | +3.9% |
| Suppliers | 440/4 | €26,924 | €27,963 | +€1,039 | +3.9% |
| Taxes, remuneration and social security | 45 | €45,625 | €47,310 | +€1,685 | +3.7% |
| Taxes | 450/3 | €20,182 | €19,724 | -€458 | -2.3% |
| Remuneration and social security | 454/9 | €25,443 | €27,586 | +€2,143 | +8.4% |
| Other amounts payable | 47/48 | €153,816 | €172,679 | +€18,862 | +12.3% |
| Remuneration, social security and pensions | 62 | €227,480 | €264,010 | +€36,531 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,231 | €12,528 | -€703 | -5.3% |
| Other operating charges | 640/8 | €1,131 | €1,543 | +€412 | +36.4% |
| Gross operating margin | 9900 | €199,089 | €241,648 | +€42,559 | +21.4% |
| Operating profit (loss) | 9901 | -€42,752 | -€36,433 | +€6,319 | +14.8% |
| Financial income | 75/76B | €176 | €18,658 | +€18,483 | +10,520% |
| Recurring financial income | 75 | €176 | €16,168 | +€15,993 | +9,103% |
| Non-recurring financial income | 76B | - | €2,490 | +€2,490 | |
| Financial charges | 65/66B | €1,965 | €16,915 | +€14,950 | +761% |
| Recurring financial charges | 65 | €1,965 | €16,915 | +€14,950 | +761% |
| Profit (loss) for the period before taxes | 9903 | -€44,542 | -€34,690 | +€9,852 | +22.1% |
| Income taxes | 67/77 | €656 | €703 | +€47 | +7.2% |
| Profit (loss) for the period | 9904 | -€45,198 | -€35,393 | +€9,805 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,198 | -€35,393 | +€9,805 | +21.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.