JEM: 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.
JEM
Largest movements
- Current investments +€55,882
new in 2025: €55,882
- Receivables after one year +€55,000
new in 2025: €55,000
- Cash -€51,234
no longer reported in 2025 (was €51,234)
mainly Current investments (-€55,882) and Receivables after one year (-€55,000)
- Tangible fixed assets +€12,171
up €12,171 (+1.6%), from €778,772 to €790,943
- Profit (loss) carried forward +€48,806
up €48,806 (+8.8%), from -€551,567 to -€502,760
- Reserves +€30,000
up €30,000 (+4.7%), from €643,889 to €673,889
of which Distributable reserves: +€30,000
- Current portion of long-term debt -€14,615
no longer reported in 2025 (was €14,615)
- Financial income +€1,687
up €1,687 (+196,190%), from €1 to €1,688
- Depreciation +€1,582
up €1,582 (+41.0%), from €3,860 to €5,442
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 | €838,341 | €903,513 | +€65,172 | +7.8% |
| Fixed assets | 21/28 | €778,772 | €790,943 | +€12,171 | +1.6% |
| Tangible fixed assets | 22/27 | €778,772 | €790,943 | +€12,171 | +1.6% |
| Land and buildings | 22 | €778,772 | €790,943 | +€12,171 | +1.6% |
| Current assets | 29/58 | €59,569 | €112,570 | +€53,001 | +89.0% |
| Amounts receivable after more than one year | 29 | - | €55,000 | +€55,000 | |
| Other amounts receivable | 291 | - | €55,000 | +€55,000 | |
| Amounts receivable within one year | 40/41 | €8,335 | - | -€8,335 | |
| Trade receivables | 40 | €8,335 | - | -€8,335 | |
| Current investments | 50/53 | - | €55,882 | +€55,882 | |
| Cash at bank and in hand | 54/58 | €51,234 | - | -€51,234 | |
| Deferred charges and accrued income | 490/1 | - | €1,688 | +€1,688 | |
| Total equity and liabilities | 10/49 | €838,341 | €903,513 | +€65,172 | +7.8% |
| Equity | 10/15 | €817,323 | €896,129 | +€78,806 | +9.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Revaluation surpluses | 12 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €643,889 | €673,889 | +€30,000 | +4.7% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €631,389 | €661,389 | +€30,000 | +4.8% |
| Profit (loss) carried forward | 14 | -€551,567 | -€502,760 | +€48,806 | +8.8% |
| Amounts payable | 17/49 | €21,019 | €7,384 | -€13,635 | -64.9% |
| Amounts payable within one year | 42/48 | €20,872 | €7,384 | -€13,488 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €14,615 | - | -€14,615 | |
| Taxes, remuneration and social security | 45 | €6,061 | €5,269 | -€792 | -13.1% |
| Taxes | 450/3 | €6,061 | €5,269 | -€792 | -13.1% |
| Other amounts payable | 47/48 | €196 | €2,115 | +€1,919 | +977% |
| Accrued charges and deferred income | 492/3 | €146 | - | -€146 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,860 | €5,442 | +€1,582 | +41.0% |
| Other operating charges | 640/8 | €8,733 | €9,002 | +€269 | +3.1% |
| Gross operating margin | 9900 | €122,749 | €122,107 | -€642 | -0.5% |
| Operating profit (loss) | 9901 | €110,156 | €107,663 | -€2,493 | -2.3% |
| Financial income | 75/76B | €1 | €1,688 | +€1,687 | +196,190% |
| Recurring financial income | 75 | €1 | €1,688 | +€1,687 | +196,190% |
| Financial charges | 65/66B | €343 | €276 | -€67 | -19.6% |
| Recurring financial charges | 65 | €343 | €276 | -€67 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €109,814 | €109,075 | -€739 | -0.7% |
| Income taxes | 67/77 | €30,561 | €30,269 | -€292 | -1.0% |
| Profit (loss) for the period | 9904 | €79,253 | €78,806 | -€447 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,253 | €78,806 | -€447 | -0.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.