JEMA: 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.
JEMA
Largest movements
- Receivables within one year +€73,630
up €73,630 (+55.5%), from €132,739 to €206,368
of which Trade receivables: +€50,169
- Stocks and contracts +€3,000
up €3,000 (+200.0%), from €1,500 to €4,500
- Accrued charges and deferred income +€26,500
new in 2025: €26,500
- Trade debts +€23,991
up €23,991 (+56.0%), from €42,809 to €66,800
- Reserves +€20,401
up €20,401 (+55.1%), from €37,035 to €57,436
- Tax, wage and social debts +€11,448
up €11,448 (+40182.9%), from €28 to €11,477
- Short-term financial debts -€5,637
down €5,637 (-35.4%), from €15,906 to €10,269
- Gross operating margin +€29,653
up €29,653 (+78.3%), from €37,860 to €67,513
- Taxes +€8,336
up €8,336 (+29260.1%), from €28 to €8,365
- Write-downs +€7,053
up €7,053 (+72.0%), from €9,794 to €16,848
- Other operating charges +€5,230
up €5,230 (+157.6%), from €3,319 to €8,550
- Financial income +€1,542
up €1,542 (+30.4%), from €5,069 to €6,611
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,273 | €211,976 | +€76,703 | +56.7% |
| Fixed assets | 21/28 | €322 | €1,107 | +€785 | +243.4% |
| Tangible fixed assets | 22/27 | €322 | €1,107 | +€785 | +243.4% |
| Plant, machinery and equipment | 23 | €322 | €1,107 | +€785 | +243.4% |
| Current assets | 29/58 | €134,950 | €210,868 | +€75,918 | +56.3% |
| Stocks and contracts in progress | 3 | €1,500 | €4,500 | +€3,000 | +200.0% |
| Stocks | 30/36 | €1,500 | €4,500 | +€3,000 | +200.0% |
| Amounts receivable within one year | 40/41 | €132,739 | €206,368 | +€73,630 | +55.5% |
| Trade receivables | 40 | €22,891 | €73,060 | +€50,169 | +219.2% |
| Other amounts receivable | 41 | €109,847 | €133,308 | +€23,461 | +21.4% |
| Deferred charges and accrued income | 490/1 | €712 | €0 | -€712 | -100.0% |
| Total equity and liabilities | 10/49 | €135,273 | €211,976 | +€76,703 | +56.7% |
| Equity | 10/15 | €55,627 | €76,028 | +€20,401 | +36.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €37,035 | €57,436 | +€20,401 | +55.1% |
| Distributable reserves | 133 | €37,035 | €57,436 | +€20,401 | +55.1% |
| Amounts payable | 17/49 | €79,645 | €135,948 | +€56,302 | +70.7% |
| Amounts payable within one year | 42/48 | €79,645 | €109,448 | +€29,802 | +37.4% |
| Financial debts | 43 | €15,906 | €10,269 | -€5,637 | -35.4% |
| Credit institutions | 430/8 | €15,906 | €10,269 | -€5,637 | -35.4% |
| Trade debts | 44 | €42,809 | €66,800 | +€23,991 | +56.0% |
| Suppliers | 440/4 | €42,809 | €66,800 | +€23,991 | +56.0% |
| Taxes, remuneration and social security | 45 | €28 | €11,477 | +€11,448 | +40182.9% |
| Taxes | 450/3 | €28 | €11,477 | +€11,448 | +40182.9% |
| Other amounts payable | 47/48 | €20,902 | €20,902 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €26,500 | +€26,500 | |
| Non-recurring operating income | 76A | €372 | €0 | -€372 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259 | €415 | +€156 | +60.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,794 | €16,848 | +€7,053 | +72.0% |
| Other operating charges | 640/8 | €3,319 | €8,550 | +€5,230 | +157.6% |
| Non-recurring operating charges | 66A | - | €16,821 | +€16,821 | |
| Gross operating margin | 9900 | €37,860 | €67,513 | +€29,653 | +78.3% |
| Operating profit (loss) | 9901 | €24,486 | €24,879 | +€393 | +1.6% |
| Financial income | 75/76B | €5,069 | €6,611 | +€1,542 | +30.4% |
| Recurring financial income | 75 | €5,069 | €6,611 | +€1,542 | +30.4% |
| Financial charges | 65/66B | €4,184 | €2,725 | -€1,459 | -34.9% |
| Recurring financial charges | 65 | €4,184 | €2,725 | -€1,459 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €25,372 | €28,766 | +€3,394 | +13.4% |
| Income taxes | 67/77 | €28 | €8,365 | +€8,336 | +29260.1% |
| Profit (loss) for the period | 9904 | €25,343 | €20,401 | -€4,942 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,343 | €20,401 | -€4,942 | -19.5% |
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 2 October 2026 via checked.be.