JENMABO: 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.
JENMABO
Largest movements
- Receivables after one year +€1.4m
up €1.4m (+20.9%), from €6.7m to €8.1m
- Financial fixed assets -€1.2m
down €1.2m (-6.2%), from €20.0m to €18.8m
of which Other financial fixed assets: -€1.3m
- Cash +€933,343
up €933,343 (+1715.7%), from €54,400 to €987,743
mainly Investment in fixed assets (net) (+€1.2m) and Other debts (+€665,571)
- Receivables within one year -€295,120
down €295,120 (-18.3%), from €1.6m to €1.3m
of which Other amounts receivable: -€181,586
- Other debts +€665,571
up €665,571 (+17.3%), from €3.9m to €4.5m
- Turnover -€240,221
down €240,221 (-37.4%), from €642,871 to €402,651
- Services and other goods -€234,271
down €234,271 (-39.1%), from €599,548 to €365,277
- Other operating income -€110,236
down €110,236 (-30.1%), from €365,796 to €255,559
- Financial charges -€76,694
down €76,694 (-35.6%), from €215,518 to €138,824
- Financial income +€46,268
up €46,268 (+34.8%), from €133,040 to €179,308
of which Non-recurring financial income: +€94,670
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 | €28,516,750 | €29,322,572 | +€805,821 | +2.8% |
| Fixed assets | 21/28 | €20,178,168 | €18,947,766 | -€1.2m | -6.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €144,968 | €154,766 | +€9,798 | +6.8% |
| Furniture and vehicles | 24 | €144,968 | €154,766 | +€9,798 | +6.8% |
| Financial fixed assets | 28 | €20,033,200 | €18,793,000 | -€1.2m | -6.2% |
| Affiliated companies | 280/1 | €17,533,200 | €17,543,000 | +€9,800 | +0.1% |
| Participating interests | 280 | €17,533,200 | €17,543,000 | +€9,800 | +0.1% |
| Other financial fixed assets | 284/8 | €2,500,000 | €1,250,000 | -€1.3m | -50.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,500,000 | €1,250,000 | -€1.3m | -50.0% |
| Current assets | 29/58 | €8,338,583 | €10,374,806 | +€2.0m | +24.4% |
| Amounts receivable after more than one year | 29 | €6,674,700 | €8,072,700 | +€1.4m | +20.9% |
| Other amounts receivable | 291 | €6,674,700 | €8,072,700 | +€1.4m | +20.9% |
| Amounts receivable within one year | 40/41 | €1,609,483 | €1,314,363 | -€295,120 | -18.3% |
| Trade receivables | 40 | €375,034 | €261,500 | -€113,534 | -30.3% |
| Other amounts receivable | 41 | €1,234,449 | €1,052,863 | -€181,586 | -14.7% |
| Cash at bank and in hand | 54/58 | €54,400 | €987,743 | +€933,343 | +1715.7% |
| Total equity and liabilities | 10/49 | €28,516,750 | €29,322,572 | +€805,821 | +2.8% |
| Equity | 10/15 | €24,618,482 | €24,669,299 | +€50,817 | +0.2% |
| Contributions | 10/11 | €3,969,313 | €3,969,313 | = | 0.0% |
| Reserves | 13 | €20,600,000 | €20,650,000 | +€50,000 | +0.2% |
| Distributable reserves | 133 | €20,600,000 | €20,650,000 | +€50,000 | +0.2% |
| Profit (loss) carried forward | 14 | €49,169 | €49,986 | +€817 | +1.7% |
| Amounts payable | 17/49 | €3,898,268 | €4,653,273 | +€755,005 | +19.4% |
| Amounts payable after more than one year | 17 | - | €28,753 | +€28,753 | |
| Financial debts | 170/4 | - | €28,753 | +€28,753 | |
| Credit institutions | 173 | - | €28,753 | +€28,753 | |
| Amounts payable within one year | 42/48 | €3,898,268 | €4,624,520 | +€726,252 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | - | €11,633 | +€11,633 | |
| Trade debts | 44 | €24,411 | €71,895 | +€47,484 | +194.5% |
| Suppliers | 440/4 | €24,411 | €71,895 | +€47,484 | +194.5% |
| Taxes, remuneration and social security | 45 | €19,647 | €21,210 | +€1,564 | +8.0% |
| Taxes | 450/3 | €2,251 | €2,915 | +€664 | +29.5% |
| Remuneration and social security | 454/9 | €17,396 | €18,295 | +€899 | +5.2% |
| Other amounts payable | 47/48 | €3,854,211 | €4,519,781 | +€665,571 | +17.3% |
| Operating income | 70/76A | €1,008,667 | €658,210 | -€350,457 | -34.7% |
| Turnover | 70 | €642,871 | €402,651 | -€240,221 | -37.4% |
| Other operating income | 74 | €365,796 | €255,559 | -€110,236 | -30.1% |
| Operating charges | 60/66A | €867,736 | €647,450 | -€220,286 | -25.4% |
| Services and other goods | 61 | €599,548 | €365,277 | -€234,271 | -39.1% |
| Remuneration, social security and pensions | 62 | €193,225 | €215,821 | +€22,596 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,098 | €51,655 | -€21,442 | -29.3% |
| Other operating charges | 640/8 | €1,866 | €2,441 | +€575 | +30.8% |
| Non-recurring operating charges | 66A | - | €12,257 | +€12,257 | |
| Operating profit (loss) | 9901 | €140,931 | €10,760 | -€130,171 | -92.4% |
| Financial income | 75/76B | €133,040 | €179,308 | +€46,268 | +34.8% |
| Recurring financial income | 75 | €133,040 | €84,638 | -€48,402 | -36.4% |
| Income from financial fixed assets | 750 | €128,553 | €82,868 | -€45,685 | -35.5% |
| Income from current assets | 751 | €4,487 | €1,770 | -€2,717 | -60.5% |
| Non-recurring financial income | 76B | - | €94,670 | +€94,670 | |
| Financial charges | 65/66B | €215,518 | €138,824 | -€76,694 | -35.6% |
| Recurring financial charges | 65 | €215,518 | €138,824 | -€76,694 | -35.6% |
| Debt charges | 650 | €199,320 | €126,808 | -€72,512 | -36.4% |
| Other financial charges | 652/9 | €16,198 | €12,016 | -€4,182 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €58,453 | €51,244 | -€7,209 | -12.3% |
| Income taxes | 67/77 | €284 | €427 | +€143 | +50.3% |
| Taxes | 670/3 | €284 | €427 | +€143 | +50.3% |
| Profit (loss) for the period | 9904 | €58,169 | €50,817 | -€7,352 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,169 | €50,817 | -€7,352 | -12.6% |
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.