Jefraco: 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.
Jefraco
Largest movements
- Tangible fixed assets -€116,400
down €116,400 (-4.4%), from €2.6m to €2.5m
of which Land and buildings: -€77,783
- Stocks and contracts +€110,937
up €110,937 (+18.5%), from €599,564 to €710,501
- Receivables within one year +€88,241
up €88,241 (+122.9%), from €71,791 to €160,032
of which Trade receivables: +€93,474
- Cash -€64,752
down €64,752 (-27.2%), from €238,005 to €173,253
mainly Stocks and contracts (-€110,937) and Investment in fixed assets (net) (-€110,898)
- Current investments -€41,542
down €41,542 (-50.0%), from €83,026 to €41,483
- Trade debts +€119,270
up €119,270 (+11.7%), from €1.0m to €1.1m
- Debts after one year -€101,196
down €101,196 (-8.2%), from €1.2m to €1.1m
- Short-term financial debts -€100,000
down €100,000 (-33.3%), from €300,000 to €200,000
- Current portion of long-term debt +€77,412
up €77,412 (+51.2%), from €151,223 to €228,635
- Tax, wage and social debts -€57,074
down €57,074 (-19.2%), from €297,626 to €240,552
of which Remuneration and social security: -€36,154
- Gross operating margin -€143,779
down €143,779 (-8.4%), from €1.7m to €1.6m
- Taxes -€55,810
down €55,810 (-57.1%), from €97,768 to €41,958
- Depreciation +€17,793
up €17,793 (+8.5%), from €209,505 to €227,298
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 | €3,645,486 | €3,627,319 | -€18,167 | -0.5% |
| Fixed assets | 21/28 | €2,630,296 | €2,513,896 | -€116,400 | -4.4% |
| Tangible fixed assets | 22/27 | €2,628,858 | €2,512,458 | -€116,400 | -4.4% |
| Land and buildings | 22 | €1,634,799 | €1,557,016 | -€77,783 | -4.8% |
| Plant, machinery and equipment | 23 | €340,940 | €286,807 | -€54,133 | -15.9% |
| Furniture and vehicles | 24 | €146,716 | €121,183 | -€25,533 | -17.4% |
| Other tangible fixed assets | 26 | €77,587 | €51,396 | -€26,192 | -33.8% |
| Assets under construction and advance payments | 27 | €428,815 | €496,057 | +€67,241 | +15.7% |
| Financial fixed assets | 28 | €1,438 | €1,438 | = | 0.0% |
| Current assets | 29/58 | €1,015,191 | €1,113,423 | +€98,233 | +9.7% |
| Stocks and contracts in progress | 3 | €599,564 | €710,501 | +€110,937 | +18.5% |
| Stocks | 30/36 | €599,564 | €710,501 | +€110,937 | +18.5% |
| Amounts receivable within one year | 40/41 | €71,791 | €160,032 | +€88,241 | +122.9% |
| Trade receivables | 40 | €26,499 | €119,974 | +€93,474 | +352.7% |
| Other amounts receivable | 41 | €45,292 | €40,059 | -€5,233 | -11.6% |
| Current investments | 50/53 | €83,026 | €41,483 | -€41,542 | -50.0% |
| Cash at bank and in hand | 54/58 | €238,005 | €173,253 | -€64,752 | -27.2% |
| Deferred charges and accrued income | 490/1 | €22,805 | €28,154 | +€5,348 | +23.5% |
| Total equity and liabilities | 10/49 | €3,645,486 | €3,627,319 | -€18,167 | -0.5% |
| Equity | 10/15 | €553,808 | €601,427 | +€47,619 | +8.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €476,882 | €526,113 | +€49,230 | +10.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €470,732 | €519,963 | +€49,230 | +10.5% |
| Profit (loss) carried forward | 14 | €12,203 | €12,203 | = | 0.0% |
| Investment grants | 15 | €3,223 | €1,611 | -€1,611 | -50.0% |
| Amounts payable | 17/49 | €3,091,678 | €3,025,892 | -€65,786 | -2.1% |
| Amounts payable after more than one year | 17 | €1,232,836 | €1,131,640 | -€101,196 | -8.2% |
| Financial debts | 170/4 | €1,232,836 | €1,131,640 | -€101,196 | -8.2% |
| Amounts payable within one year | 42/48 | €1,858,842 | €1,889,992 | +€31,150 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €151,223 | €228,635 | +€77,412 | +51.2% |
| Financial debts | 43 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Credit institutions | 430/8 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Trade debts | 44 | €1,019,894 | €1,139,165 | +€119,270 | +11.7% |
| Suppliers | 440/4 | €1,019,894 | €1,139,165 | +€119,270 | +11.7% |
| Taxes, remuneration and social security | 45 | €297,626 | €240,552 | -€57,074 | -19.2% |
| Taxes | 450/3 | €101,621 | €80,702 | -€20,919 | -20.6% |
| Remuneration and social security | 454/9 | €196,005 | €159,850 | -€36,154 | -18.4% |
| Other amounts payable | 47/48 | €90,099 | €81,640 | -€8,460 | -9.4% |
| Accrued charges and deferred income | 492/3 | €0 | €4,260 | +€4,260 | |
| Remuneration, social security and pensions | 62 | €1,118,373 | €1,130,865 | +€12,492 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,505 | €227,298 | +€17,793 | +8.5% |
| Other operating charges | 640/8 | €9,411 | €11,492 | +€2,081 | +22.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,717,967 | €1,574,188 | -€143,779 | -8.4% |
| Operating profit (loss) | 9901 | €380,679 | €204,533 | -€176,145 | -46.3% |
| Financial income | 75/76B | €1,822 | €7,355 | +€5,532 | +303.6% |
| Recurring financial income | 75 | €1,822 | €7,355 | +€5,532 | +303.6% |
| Financial charges | 65/66B | €87,910 | €90,729 | +€2,820 | +3.2% |
| Recurring financial charges | 65 | €87,910 | €90,729 | +€2,820 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €294,592 | €121,158 | -€173,433 | -58.9% |
| Income taxes | 67/77 | €97,768 | €41,958 | -€55,810 | -57.1% |
| Profit (loss) for the period | 9904 | €196,824 | €79,200 | -€117,623 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €196,824 | €79,200 | -€117,623 | -59.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.