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
- Cash +€192,237
up €192,237 (+159.3%), from €120,695 to €312,931
mainly Net result for the year (+€261,316) and Tax, wage and social debts (+€67,759)
- Tangible fixed assets +€87,076
up €87,076 (+24.4%), from €357,108 to €444,185
of which Land and buildings: +€99,668
- Receivables within one year -€15,267
down €15,267 (-14.1%), from €108,493 to €93,227
of which Trade receivables: -€13,110
- Reserves +€261,316
up €261,316 (+63.7%), from €409,916 to €671,231
of which Distributable reserves: +€398,920
- Tax, wage and social debts +€67,759
new in 2025: €67,759
- Provisions -€44,991
down €44,991 (-100.0%), from €44,991 to €0
- Advances received -€21,780
down €21,780 (-100.0%), from €21,780 to €0
- Gross operating margin +€289,850
up €289,850 (+1097.5%), from €26,411 to €316,261
- Taxes +€64,561
up €64,561 (+7409.7%), from €871 to €65,433
- Financial charges +€6,351
up €6,351 (+9929.3%), from €64 to €6,415
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 | €589,989 | €850,706 | +€260,717 | +44.2% |
| Fixed assets | 21/28 | €357,158 | €444,185 | +€87,026 | +24.4% |
| Tangible fixed assets | 22/27 | €357,108 | €444,185 | +€87,076 | +24.4% |
| Land and buildings | 22 | €320,332 | €420,000 | +€99,668 | +31.1% |
| Furniture and vehicles | 24 | €36,776 | €24,185 | -€12,592 | -34.2% |
| Financial fixed assets | 28 | €50 | €0 | -€50 | -100.0% |
| Current assets | 29/58 | €232,830 | €406,521 | +€173,691 | +74.6% |
| Amounts receivable within one year | 40/41 | €108,493 | €93,227 | -€15,267 | -14.1% |
| Trade receivables | 40 | €18,000 | €4,890 | -€13,110 | -72.8% |
| Other amounts receivable | 41 | €90,493 | €88,337 | -€2,157 | -2.4% |
| Current investments | 50/53 | €3,297 | €0 | -€3,297 | -100.0% |
| Cash at bank and in hand | 54/58 | €120,695 | €312,931 | +€192,237 | +159.3% |
| Deferred charges and accrued income | 490/1 | €345 | €363 | +€18 | +5.2% |
| Total equity and liabilities | 10/49 | €589,989 | €850,706 | +€260,717 | +44.2% |
| Equity | 10/15 | €436,468 | €697,783 | +€261,316 | +59.9% |
| Contributions | 10/11 | €26,552 | €26,552 | = | 0.0% |
| Reserves | 13 | €409,916 | €671,231 | +€261,316 | +63.7% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €137,604 | €0 | -€137,604 | -100.0% |
| Distributable reserves | 133 | €259,912 | €658,831 | +€398,920 | +153.5% |
| Provisions and deferred taxes | 16 | €44,991 | €0 | -€44,991 | -100.0% |
| Deferred taxes | 168 | €44,991 | €0 | -€44,991 | -100.0% |
| Amounts payable | 17/49 | €108,530 | €152,922 | +€44,392 | +40.9% |
| Amounts payable within one year | 42/48 | €108,530 | €152,922 | +€44,392 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €3,371 | €0 | -€3,371 | -100.0% |
| Trade debts | 44 | €914 | €3,951 | +€3,037 | +332.4% |
| Suppliers | 440/4 | €914 | €3,951 | +€3,037 | +332.4% |
| Advances received on contracts in progress | 46 | €21,780 | €0 | -€21,780 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €67,759 | +€67,759 | |
| Taxes | 450/3 | - | €67,759 | +€67,759 | |
| Other amounts payable | 47/48 | €82,465 | €81,212 | -€1,253 | -1.5% |
| Non-recurring operating income | 76A | - | €291,991 | +€291,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,441 | €25,419 | +€1,978 | +8.4% |
| Other operating charges | 640/8 | €3,236 | €2,677 | -€558 | -17.3% |
| Gross operating margin | 9900 | €26,411 | €316,261 | +€289,850 | +1097.5% |
| Operating profit (loss) | 9901 | -€266 | €288,164 | +€288,430 | |
| Financial income | 75/76B | €22 | €8 | -€14 | -63.3% |
| Recurring financial income | 75 | €22 | €8 | -€14 | -63.3% |
| Financial charges | 65/66B | €64 | €6,415 | +€6,351 | +9929.3% |
| Recurring financial charges | 65 | €64 | €6,415 | +€6,351 | +9929.3% |
| Profit (loss) for the period before taxes | 9903 | -€308 | €281,758 | +€282,066 | |
| Transfer from deferred taxes | 780 | €3,036 | €44,991 | +€41,955 | +1382.1% |
| Income taxes | 67/77 | €871 | €65,433 | +€64,561 | +7409.7% |
| Profit (loss) for the period | 9904 | €1,856 | €261,316 | +€259,459 | +13976.9% |
| Transfer from tax-exempt reserves | 789 | €5,895 | €137,604 | +€131,709 | +2234.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,752 | €398,920 | +€391,168 | +5046.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.