Jefs: what changed
Jefs
Largest movements
- Tangible fixed assets -€41,773
down €41,773 (-8.5%), from €489,118 to €447,345
of which Land and buildings: -€40,887
- Stocks and contracts +€32,774
up €32,774 (+776%), from €4,226 to €37,000
- Cash +€23,402
up €23,402 (+53.1%), from €44,055 to €67,457
mainly Depreciation (+€47,138) and Net result for the year (+€25,519)
- Receivables within one year -€19,375
down €19,375 (-28.9%), from €67,005 to €47,630
of which Trade receivables: -€14,938
- Debts after one year -€26,399
down €26,399 (-15.3%), from €172,857 to €146,458
- Reserves +€25,519
up €25,519 (+10.2%), from €250,655 to €276,173
- Advances received -€9,850
down €9,850 (-89.7%), from €10,975 to €1,125
- Gross operating margin +€14,873
up €14,873 (+16.1%), from €92,330 to €107,203
- Taxes +€5,616
up €5,616 (+138%), from €4,063 to €9,679
- Financial charges -€1,979
down €1,979 (-25.4%), from €7,783 to €5,804
- Depreciation +€1,967
up €1,967 (+4.4%), from €45,171 to €47,138
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 | €605,810 | €600,831 | -€4,979 | -0.8% |
| Fixed assets | 21/28 | €489,118 | €447,345 | -€41,773 | -8.5% |
| Tangible fixed assets | 22/27 | €489,118 | €447,345 | -€41,773 | -8.5% |
| Land and buildings | 22 | €466,662 | €425,775 | -€40,887 | -8.8% |
| Plant, machinery and equipment | 23 | €20,965 | €20,672 | -€293 | -1.4% |
| Furniture and vehicles | 24 | €1,492 | €898 | -€594 | -39.8% |
| Current assets | 29/58 | €116,692 | €153,486 | +€36,794 | +31.5% |
| Stocks and contracts in progress | 3 | €4,226 | €37,000 | +€32,774 | +776% |
| Stocks | 30/36 | €4,226 | €37,000 | +€32,774 | +776% |
| Amounts receivable within one year | 40/41 | €67,005 | €47,630 | -€19,375 | -28.9% |
| Trade receivables | 40 | €62,568 | €47,630 | -€14,938 | -23.9% |
| Other amounts receivable | 41 | €4,437 | - | -€4,437 | |
| Cash at bank and in hand | 54/58 | €44,055 | €67,457 | +€23,402 | +53.1% |
| Deferred charges and accrued income | 490/1 | €1,406 | €1,399 | -€7 | -0.5% |
| Total equity and liabilities | 10/49 | €605,810 | €600,831 | -€4,979 | -0.8% |
| Equity | 10/15 | €269,255 | €294,773 | +€25,519 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,655 | €276,173 | +€25,519 | +10.2% |
| Distributable reserves | 133 | €250,655 | €276,173 | +€25,519 | +10.2% |
| Amounts payable | 17/49 | €336,556 | €306,058 | -€30,498 | -9.1% |
| Amounts payable after more than one year | 17 | €172,857 | €146,458 | -€26,399 | -15.3% |
| Financial debts | 170/4 | €172,857 | €146,458 | -€26,399 | -15.3% |
| Amounts payable within one year | 42/48 | €161,314 | €155,371 | -€5,944 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €26,058 | €26,399 | +€341 | +1.3% |
| Trade debts | 44 | €4,277 | €3,155 | -€1,123 | -26.2% |
| Suppliers | 440/4 | €4,277 | €3,155 | -€1,123 | -26.2% |
| Advances received on contracts in progress | 46 | €10,975 | €1,125 | -€9,850 | -89.7% |
| Taxes, remuneration and social security | 45 | €6,191 | €11,945 | +€5,754 | +92.9% |
| Taxes | 450/3 | €6,191 | €11,945 | +€5,754 | +92.9% |
| Other amounts payable | 47/48 | €113,813 | €112,747 | -€1,066 | -0.9% |
| Accrued charges and deferred income | 492/3 | €2,384 | €4,229 | +€1,844 | +77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,171 | €47,138 | +€1,967 | +4.4% |
| Other operating charges | 640/8 | €18,355 | €19,063 | +€708 | +3.9% |
| Gross operating margin | 9900 | €92,330 | €107,203 | +€14,873 | +16.1% |
| Operating profit (loss) | 9901 | €28,804 | €41,002 | +€12,197 | +42.3% |
| Financial charges | 65/66B | €7,783 | €5,804 | -€1,979 | -25.4% |
| Recurring financial charges | 65 | €7,783 | €5,804 | -€1,979 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €21,021 | €35,198 | +€14,177 | +67.4% |
| Income taxes | 67/77 | €4,063 | €9,679 | +€5,616 | +138% |
| Profit (loss) for the period | 9904 | €16,958 | €25,519 | +€8,561 | +50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,958 | €25,519 | +€8,561 | +50.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.