JEMUCO: 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.
JEMUCO
Largest movements
- Tangible fixed assets +€25,549
up €25,549 (+251%), from €10,161 to €35,710
of which Furniture and vehicles: +€23,008
- Receivables within one year +€18,061
up €18,061 (+98.2%), from €18,384 to €36,445
of which Trade receivables: +€16,592
- Cash -€14,055
down €14,055 (-21.8%), from €64,397 to €50,342
mainly Contributions, distributions and other (-€100,000) and Investment in fixed assets (net) (-€34,696)
- Deferred charges and accrued income +€2,065
up €2,065 (+108%), from €1,914 to €3,980
- Debts after one year +€75,000
new in 2025: €75,000
- Reserves -€52,679
down €52,679 (-52.4%), from €100,439 to €47,760
- Other debts +€6,893
up €6,893 (+280%), from €2,462 to €9,354
- Tax, wage and social debts +€2,239
up €2,239 (+163%), from €1,377 to €3,616
- Depreciation +€7,523
up €7,523 (+463%), from €1,623 to €9,146
- Gross operating margin -€5,238
down €5,238 (-6.7%), from €77,768 to €72,531
- Taxes -€2,256
down €2,256 (-14.1%), from €15,988 to €13,732
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 | €128,505 | €159,875 | +€31,370 | +24.4% |
| Fixed assets | 21/28 | €23,729 | €49,278 | +€25,549 | +108% |
| Tangible fixed assets | 22/27 | €10,161 | €35,710 | +€25,549 | +251% |
| Plant, machinery and equipment | 23 | €1,156 | €4,517 | +€3,361 | +291% |
| Furniture and vehicles | 24 | €4,537 | €27,545 | +€23,008 | +507% |
| Other tangible fixed assets | 26 | €4,468 | €3,649 | -€819 | -18.3% |
| Financial fixed assets | 28 | €13,568 | €13,568 | = | 0.0% |
| Current assets | 29/58 | €104,776 | €110,597 | +€5,821 | +5.6% |
| Amounts receivable within one year | 40/41 | €18,384 | €36,445 | +€18,061 | +98.2% |
| Trade receivables | 40 | €18,384 | €34,976 | +€16,592 | +90.3% |
| Other amounts receivable | 41 | - | €1,469 | +€1,469 | |
| Current investments | 50/53 | €20,080 | €19,830 | -€250 | -1.2% |
| Cash at bank and in hand | 54/58 | €64,397 | €50,342 | -€14,055 | -21.8% |
| Deferred charges and accrued income | 490/1 | €1,914 | €3,980 | +€2,065 | +108% |
| Total equity and liabilities | 10/49 | €128,505 | €159,875 | +€31,370 | +24.4% |
| Equity | 10/15 | €119,039 | €66,360 | -€52,679 | -44.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,439 | €47,760 | -€52,679 | -52.4% |
| Distributable reserves | 133 | €100,439 | €47,760 | -€52,679 | -52.4% |
| Amounts payable | 17/49 | €9,465 | €93,515 | +€84,050 | +888% |
| Amounts payable after more than one year | 17 | - | €75,000 | +€75,000 | |
| Other amounts payable | 178/9 | - | €75,000 | +€75,000 | |
| Amounts payable within one year | 42/48 | €9,465 | €18,515 | +€9,050 | +95.6% |
| Trade debts | 44 | €5,627 | €5,545 | -€82 | -1.5% |
| Suppliers | 440/4 | €5,627 | €5,545 | -€82 | -1.5% |
| Taxes, remuneration and social security | 45 | €1,377 | €3,616 | +€2,239 | +163% |
| Taxes | 450/3 | €1,377 | €3,616 | +€2,239 | +163% |
| Other amounts payable | 47/48 | €2,462 | €9,354 | +€6,893 | +280% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,623 | €9,146 | +€7,523 | +463% |
| Other operating charges | 640/8 | €853 | €629 | -€223 | -26.2% |
| Gross operating margin | 9900 | €77,768 | €72,531 | -€5,238 | -6.7% |
| Operating profit (loss) | 9901 | €75,293 | €62,755 | -€12,537 | -16.7% |
| Financial income | 75/76B | €501 | €670 | +€169 | +33.7% |
| Recurring financial income | 75 | €501 | €670 | +€169 | +33.7% |
| Financial charges | 65/66B | €2,828 | €2,372 | -€456 | -16.1% |
| Recurring financial charges | 65 | €2,828 | €2,372 | -€456 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €72,965 | €61,053 | -€11,912 | -16.3% |
| Income taxes | 67/77 | €15,988 | €13,732 | -€2,256 | -14.1% |
| Profit (loss) for the period | 9904 | €56,977 | €47,321 | -€9,656 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,977 | €47,321 | -€9,656 | -16.9% |
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 13 October 2026 via checked.be.