JEMACO: 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.
JEMACO
Largest movements
- Cash -€41,044
down €41,044 (-65.9%), from €62,240 to €21,196
mainly Contributions, distributions and other (-€47,059) and Receivables within one year (-€11,395)
- Tangible fixed assets -€11,788
down €11,788 (-22.3%), from €52,845 to €41,057
of which Furniture and vehicles: -€11,663
- Receivables within one year +€11,395
up €11,395 (+67.5%), from €16,886 to €28,281
of which Other amounts receivable: +€6,847
- Reserves -€31,617
down €31,617 (-38.1%), from €83,049 to €51,432
of which Distributable reserves: -€29,672
- Tax, wage and social debts -€7,909
down €7,909 (-52.7%), from €15,009 to €7,101
of which Taxes: -€7,887
- Trade debts +€4,458
up €4,458 (+3,355%), from €133 to €4,591
- Debts after one year -€3,392
down €3,392 (-15.4%), from €22,067 to €18,675
- Current portion of long-term debt -€2,164
down €2,164 (-27.3%), from €7,933 to €5,769
- Gross operating margin -€15,547
down €15,547 (-29.8%), from €52,252 to €36,706
- Depreciation +€7,241
up €7,241 (+159%), from €4,547 to €11,788
- Staff costs +€1,687
up €1,687 (+757%), from €223 to €1,910
- Financial charges +€946
up €946 (+318%), from €298 to €1,244
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 | €131,971 | €90,534 | -€41,437 | -31.4% |
| Fixed assets | 21/28 | €52,845 | €41,057 | -€11,788 | -22.3% |
| Tangible fixed assets | 22/27 | €52,845 | €41,057 | -€11,788 | -22.3% |
| Plant, machinery and equipment | 23 | €1,203 | €1,078 | -€125 | -10.4% |
| Furniture and vehicles | 24 | €51,642 | €39,979 | -€11,663 | -22.6% |
| Current assets | 29/58 | €79,126 | €49,477 | -€29,649 | -37.5% |
| Amounts receivable within one year | 40/41 | €16,886 | €28,281 | +€11,395 | +67.5% |
| Trade receivables | 40 | €15,492 | €20,041 | +€4,548 | +29.4% |
| Other amounts receivable | 41 | €1,393 | €8,240 | +€6,847 | +491% |
| Cash at bank and in hand | 54/58 | €62,240 | €21,196 | -€41,044 | -65.9% |
| Total equity and liabilities | 10/49 | €131,971 | €90,534 | -€41,437 | -31.4% |
| Equity | 10/15 | €84,549 | €52,932 | -€31,617 | -37.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €83,049 | €51,432 | -€31,617 | -38.1% |
| Tax-exempt reserves | 132 | €7,826 | €5,881 | -€1,945 | -24.9% |
| Distributable reserves | 133 | €75,223 | €45,551 | -€29,672 | -39.4% |
| Provisions and deferred taxes | 16 | €1,954 | €1,466 | -€489 | -25.0% |
| Deferred taxes | 168 | €1,954 | €1,466 | -€489 | -25.0% |
| Amounts payable | 17/49 | €45,467 | €36,136 | -€9,331 | -20.5% |
| Amounts payable after more than one year | 17 | €22,067 | €18,675 | -€3,392 | -15.4% |
| Financial debts | 170/4 | €22,067 | €18,675 | -€3,392 | -15.4% |
| Amounts payable within one year | 42/48 | €23,400 | €17,461 | -€5,939 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €7,933 | €5,769 | -€2,164 | -27.3% |
| Trade debts | 44 | €133 | €4,591 | +€4,458 | +3,355% |
| Suppliers | 440/4 | €133 | €4,591 | +€4,458 | +3,355% |
| Taxes, remuneration and social security | 45 | €15,009 | €7,101 | -€7,909 | -52.7% |
| Taxes | 450/3 | €12,959 | €5,072 | -€7,887 | -60.9% |
| Remuneration and social security | 454/9 | €2,050 | €2,028 | -€22 | -1.1% |
| Other amounts payable | 47/48 | €325 | - | -€325 | |
| Remuneration, social security and pensions | 62 | €223 | €1,910 | +€1,687 | +757% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,547 | €11,788 | +€7,241 | +159% |
| Other operating charges | 640/8 | €694 | €332 | -€363 | -52.3% |
| Non-recurring operating charges | 66A | €4,601 | - | -€4,601 | |
| Gross operating margin | 9900 | €52,252 | €36,706 | -€15,547 | -29.8% |
| Operating profit (loss) | 9901 | €42,186 | €22,676 | -€19,510 | -46.2% |
| Financial income | 75/76B | - | €61 | +€61 | |
| Recurring financial income | 75 | - | €61 | +€61 | |
| Financial charges | 65/66B | €298 | €1,244 | +€946 | +318% |
| Recurring financial charges | 65 | €298 | €1,244 | +€946 | +318% |
| Profit (loss) for the period before taxes | 9903 | €41,888 | €21,493 | -€20,395 | -48.7% |
| Transfer from deferred taxes | 780 | €489 | €489 | = | 0.0% |
| Transfer to deferred taxes | 680 | €2,443 | - | -€2,443 | |
| Income taxes | 67/77 | €6,554 | €6,540 | -€14 | -0.2% |
| Profit (loss) for the period | 9904 | €33,380 | €15,442 | -€17,938 | -53.7% |
| Transfer from tax-exempt reserves | 789 | €1,945 | €1,945 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €9,771 | - | -€9,771 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,553 | €17,387 | -€8,167 | -32.0% |
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 27 October 2026 via checked.be.