JENA PROJECTS: 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.
JENA PROJECTS
Largest movements
- Tangible fixed assets +€22,904
up €22,904 (+456.0%), from €5,023 to €27,927
- Cash -€18,566
down €18,566 (-12.4%), from €149,347 to €130,781
mainly Contributions, distributions and other (-€44,754) and Investment in fixed assets (net) (-€25,354)
- Receivables within one year +€7,769
up €7,769 (+10.4%), from €74,767 to €82,536
of which Trade receivables: +€14,764
- Other debts +€43,143
up €43,143 (+299.3%), from €14,414 to €57,557
- Reserves -€29,653
down €29,653 (-45.1%), from €65,725 to €36,072
of which Distributable reserves: -€29,653
- Tax, wage and social debts -€3,818
down €3,818 (-28.8%), from €13,268 to €9,450
of which Remuneration and social security: -€4,153
- Trade debts +€3,277
new in 2025: €3,277
- Write-downs -€11,000
no longer reported in 2025 (was €11,000)
- Taxes +€5,427
up €5,427 (+147.3%), from €3,686 to €9,113
- Gross operating margin +€677
up €677 (+2.5%), from €26,897 to €27,574
- Depreciation +€637
up €637 (+35.2%), from €1,813 to €2,450
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 | €232,027 | €244,976 | +€12,949 | +5.6% |
| Fixed assets | 21/28 | €7,913 | €30,817 | +€22,904 | +289.5% |
| Tangible fixed assets | 22/27 | €5,023 | €27,927 | +€22,904 | +456.0% |
| Furniture and vehicles | 24 | €5,023 | €27,927 | +€22,904 | +456.0% |
| Financial fixed assets | 28 | €2,890 | €2,890 | = | 0.0% |
| Current assets | 29/58 | €224,114 | €214,159 | -€9,955 | -4.4% |
| Amounts receivable within one year | 40/41 | €74,767 | €82,536 | +€7,769 | +10.4% |
| Trade receivables | 40 | €5,201 | €19,965 | +€14,764 | +283.9% |
| Other amounts receivable | 41 | €69,566 | €62,571 | -€6,995 | -10.1% |
| Cash at bank and in hand | 54/58 | €149,347 | €130,781 | -€18,566 | -12.4% |
| Deferred charges and accrued income | 490/1 | - | €842 | +€842 | |
| Total equity and liabilities | 10/49 | €232,027 | €244,976 | +€12,949 | +5.6% |
| Equity | 10/15 | €204,345 | €174,692 | -€29,653 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,725 | €36,072 | -€29,653 | -45.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €63,865 | €34,212 | -€29,653 | -46.4% |
| Profit (loss) carried forward | 14 | €120,020 | €120,020 | = | 0.0% |
| Amounts payable | 17/49 | €27,682 | €70,284 | +€42,602 | +153.9% |
| Amounts payable within one year | 42/48 | €27,682 | €70,284 | +€42,602 | +153.9% |
| Trade debts | 44 | - | €3,277 | +€3,277 | |
| Suppliers | 440/4 | - | €3,277 | +€3,277 | |
| Taxes, remuneration and social security | 45 | €13,268 | €9,450 | -€3,818 | -28.8% |
| Taxes | 450/3 | €4,115 | €4,450 | +€335 | +8.1% |
| Remuneration and social security | 454/9 | €9,153 | €5,000 | -€4,153 | -45.4% |
| Other amounts payable | 47/48 | €14,414 | €57,557 | +€43,143 | +299.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,813 | €2,450 | +€637 | +35.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,000 | - | -€11,000 | |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €26,897 | €27,574 | +€677 | +2.5% |
| Operating profit (loss) | 9901 | €13,635 | €24,662 | +€11,027 | +80.9% |
| Financial charges | 65/66B | €443 | €449 | +€6 | +1.3% |
| Recurring financial charges | 65 | €443 | €449 | +€6 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €13,193 | €24,214 | +€11,021 | +83.5% |
| Income taxes | 67/77 | €3,686 | €9,113 | +€5,427 | +147.3% |
| Profit (loss) for the period | 9904 | €9,507 | €15,100 | +€5,594 | +58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,507 | €15,100 | +€5,594 | +58.8% |
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 5 October 2026 via checked.be.