JELFRA: what changed
Two fiscal 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.
JELFRA
Largest movements
- Tangible fixed assets -€37,394
down €37,394 (-78.2%), from €47,833 to €10,439
of which Other tangible fixed assets: -€23,842
- Cash -€10,730
down €10,730 (-27.5%), from €39,056 to €28,326
mainly Current portion of long-term debt (-€56,634) and Accrued charges and deferred income (-€24,954)
- Receivables within one year -€8,968
down €8,968 (-50.6%), from €17,728 to €8,760
of which Trade receivables: -€15,303
- Financial fixed assets -€1,800
no longer reported in 2025 (was €1,800)
- Stocks and contracts -€1,750
down €1,750 (-28.0%), from €6,249 to €4,500
- Current portion of long-term debt -€56,634
down €56,634 (-86.3%), from €65,634 to €8,999
- Accrued charges and deferred income -€24,954
down €24,954 (-97.9%), from €25,478 to €524
- Profit (loss) carried forward +€11,691
up €11,691 (+32.0%), from -€36,503 to -€24,812
- Advances received +€11,063
new in 2025: €11,063
- Gross operating margin -€17,619
down €17,619 (-50.7%), from €34,737 to €17,119
- Depreciation -€16,655
down €16,655 (-87.4%), from €19,063 to €2,408
- Financial income -€603
down €603 (-66.5%), from €906 to €303
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 | €147,110 | €85,657 | -€61,453 | -41.8% |
| Fixed assets | 21/28 | €49,633 | €10,439 | -€39,194 | -79.0% |
| Tangible fixed assets | 22/27 | €47,833 | €10,439 | -€37,394 | -78.2% |
| Plant, machinery and equipment | 23 | €23,992 | €10,439 | -€13,552 | -56.5% |
| Other tangible fixed assets | 26 | €23,842 | - | -€23,842 | |
| Financial fixed assets | 28 | €1,800 | - | -€1,800 | |
| Current assets | 29/58 | €97,476 | €75,218 | -€22,259 | -22.8% |
| Stocks and contracts in progress | 3 | €6,249 | €4,500 | -€1,750 | -28.0% |
| Stocks | 30/36 | €6,249 | €4,500 | -€1,750 | -28.0% |
| Amounts receivable within one year | 40/41 | €17,728 | €8,760 | -€8,968 | -50.6% |
| Trade receivables | 40 | €17,583 | €2,280 | -€15,303 | -87.0% |
| Other amounts receivable | 41 | €145 | €6,480 | +€6,335 | +4378.6% |
| Cash at bank and in hand | 54/58 | €39,056 | €28,326 | -€10,730 | -27.5% |
| Deferred charges and accrued income | 490/1 | €34,443 | €33,632 | -€810 | -2.4% |
| Total equity and liabilities | 10/49 | €147,110 | €85,657 | -€61,453 | -41.8% |
| Equity | 10/15 | €9,737 | €21,429 | +€11,691 | +120.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,640 | €27,640 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,780 | €25,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,503 | -€24,812 | +€11,691 | +32.0% |
| Amounts payable | 17/49 | €137,372 | €64,228 | -€73,144 | -53.2% |
| Amounts payable after more than one year | 17 | €19,168 | €18,078 | -€1,090 | -5.7% |
| Financial debts | 170/4 | €19,168 | €18,078 | -€1,090 | -5.7% |
| Amounts payable within one year | 42/48 | €92,727 | €45,626 | -€47,101 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €65,634 | €8,999 | -€56,634 | -86.3% |
| Trade debts | 44 | €26,723 | €25,533 | -€1,191 | -4.5% |
| Suppliers | 440/4 | €26,723 | €25,533 | -€1,191 | -4.5% |
| Advances received on contracts in progress | 46 | - | €11,063 | +€11,063 | |
| Other amounts payable | 47/48 | €369 | €31 | -€339 | -91.7% |
| Accrued charges and deferred income | 492/3 | €25,478 | €524 | -€24,954 | -97.9% |
| Non-recurring operating income | 76A | - | €18,705 | +€18,705 | |
| Remuneration, social security and pensions | 62 | -€149 | - | +€149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,063 | €2,408 | -€16,655 | -87.4% |
| Other operating charges | 640/8 | €1,008 | €1,092 | +€84 | +8.3% |
| Gross operating margin | 9900 | €34,737 | €17,119 | -€17,619 | -50.7% |
| Operating profit (loss) | 9901 | €14,814 | €13,618 | -€1,196 | -8.1% |
| Financial income | 75/76B | €906 | €303 | -€603 | -66.5% |
| Recurring financial income | 75 | €906 | €303 | -€603 | -66.5% |
| Financial charges | 65/66B | €2,482 | €2,230 | -€252 | -10.2% |
| Recurring financial charges | 65 | €2,482 | €2,230 | -€252 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €13,239 | €11,691 | -€1,547 | -11.7% |
| Profit (loss) for the period | 9904 | €13,239 | €11,691 | -€1,547 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,239 | €11,691 | -€1,547 | -11.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.