Jensen Group: what changed
What changed
Jensen Group
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€12.6m
2024 · €8.7m+€3.9m
Equity
€162.2m
2024 · €163.3m-€1.2m
Cash
€238,380
2024 · €957,739-€719,359
Balance sheet total
€213.0m
2024 · €189.7m+€23.3m
Largest movements
Assets
- Current investments +€15.4m
up €15.4m (+293%), from €5.3m to €20.7m
- Financial fixed assets +€6.0m
up €6.0m (+3.4%), from €174.9m to €180.9m
of which Affiliated companies: +€6.0m
Equity and liabilities
- Short-term financial debts +€18.8m
new in 2025: €18.8m
- Profit (loss) carried forward -€16.6m
down €16.6m (-34.4%), from €48.4m to €31.8m
- Reserves +€15.5m
up €15.5m (+171%), from €9.0m to €24.5m
- Debts after one year +€10.0m
new in 2025: €10.0m
- Current portion of long-term debt -€10.0m
no longer reported in 2025 (was €10.0m)
Income statement
- Goods and materials -€8.5m
down €8.5m (-50.6%), from €16.9m to €8.4m
of which Purchases: -€8.5m
- Services and other goods +€7.5m
up €7.5m (+75.7%), from €9.9m to €17.3m
- Financial income +€3.7m
up €3.7m (+40.4%), from €9.2m to €12.9m
- Turnover -€1.4m
down €1.4m (-4.5%), from €30.8m to €29.5m
- Other operating income +€606,592
up €606,592 (+39.1%), from €1.6m to €2.2m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€8.7m
Turnover
-€1.4m
Other operating income
+€606,592
Goods and materials
+€8.5m
Services and other goods
-€7.5m
Staff costs
-€356,862
Depreciation
-€89,675
Write-downs
-€274,695
Provisions
+€501,224
Other operating charges
-€5,653
Other operating items
+€401,682
Financial income
+€3.7m
Financial charges
-€114,411
Taxes
-€163,610
Result 2025
€12.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€15.7m
Investment
-€21.4m
Financing
+€5.0m
Cash 2024
€957,739
From operations (derived)
+€15.7m
Net result for the year
+€12.6m
Depreciation
+€298,580
Stocks and contracts
-€572,868
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€158,999
Provisions
-€272,272
Trade debts
+€1.9m
Tax, wage and social debts
+€22,917
Advances received
-€165,274
Other debts
+€4.3m
Accrued charges and deferred income
-€102,358
Investment (derived)
-€21.4m
Investment in fixed assets (net)
-€6.0m
Current investments
-€15.4m
Financing
+€5.0m
Debts after one year
+€10.0m
Current portion of long-term debt
-€10.0m
Short-term financial debts
+€18.8m
Contributions, distributions and other
-€13.8m
Cash 2025
€238,380
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,695,569 | €212,967,590 | +€23.3m | +12.3% |
| Formation expenses | 20 | €766,430 | €591,652 | -€174,778 | -22.8% |
| Fixed assets | 21/28 | €175,272,897 | €181,175,368 | +€5.9m | +3.4% |
| Tangible fixed assets | 22/27 | €360,115 | €272,586 | -€87,529 | -24.3% |
| Land and buildings | 22 | €78,812 | €39,987 | -€38,825 | -49.3% |
| Plant, machinery and equipment | 23 | €45,452 | €55,109 | +€9,657 | +21.2% |
| Furniture and vehicles | 24 | €235,851 | €177,490 | -€58,361 | -24.7% |
| Financial fixed assets | 28 | €174,912,782 | €180,902,782 | +€6.0m | +3.4% |
| Affiliated companies | 280/1 | €174,907,893 | €180,897,893 | +€6.0m | +3.4% |
| Participating interests | 280 | €173,400,699 | €173,400,699 | = | 0.0% |
| Amounts receivable | 281 | €1,507,194 | €7,497,194 | +€6.0m | +397% |
| Other financial fixed assets | 284/8 | €4,889 | €4,889 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,889 | €4,889 | = | 0.0% |
| Current assets | 29/58 | €13,656,242 | €31,200,570 | +€17.5m | +128% |
| Stocks and contracts in progress | 3 | €1,462,566 | €2,035,434 | +€572,868 | +39.2% |
| Stocks | 30/36 | €950,727 | €1,056,772 | +€106,045 | +11.2% |
| Goods purchased for resale | 34 | €950,727 | €1,056,772 | +€106,045 | +11.2% |
| Contracts in progress | 37 | €511,839 | €978,662 | +€466,823 | +91.2% |
| Amounts receivable within one year | 40/41 | €5,922,493 | €8,051,779 | +€2.1m | +36.0% |
| Trade receivables | 40 | €5,638,402 | €7,938,150 | +€2.3m | +40.8% |
| Other amounts receivable | 41 | €284,091 | €113,629 | -€170,462 | -60.0% |
| Current investments | 50/53 | €5,264,350 | €20,666,884 | +€15.4m | +293% |
| Own shares | 50 | €5,264,350 | €20,666,884 | +€15.4m | +293% |
| Cash at bank and in hand | 54/58 | €957,739 | €238,380 | -€719,359 | -75.1% |
| Deferred charges and accrued income | 490/1 | €49,094 | €208,093 | +€158,999 | +324% |
| Total equity and liabilities | 10/49 | €189,695,569 | €212,967,590 | +€23.3m | +12.3% |
| Equity | 10/15 | €163,329,721 | €162,150,122 | -€1.2m | -0.7% |
| Contributions | 10/11 | €105,870,149 | €105,870,149 | = | 0.0% |
| Capital | 10 | €38,280,396 | €38,280,396 | = | 0.0% |
| Issued capital | 100 | €38,280,396 | €38,280,396 | = | 0.0% |
| Contributions outside capital | 11 | €67,589,753 | €67,589,753 | = | 0.0% |
| Share premium | 1100/10 | €67,589,753 | €67,589,753 | = | 0.0% |
| Reserves | 13 | €9,029,414 | €24,494,924 | +€15.5m | +171% |
| Non-distributable reserves | 130/1 | €9,029,414 | €24,494,924 | +€15.5m | +171% |
| Legal reserve | 130 | €3,765,064 | €3,828,040 | +€62,976 | +1.7% |
| Own shares acquired | 1312 | €5,264,350 | €20,666,884 | +€15.4m | +293% |
| Profit (loss) carried forward | 14 | €48,430,158 | €31,785,049 | -€16.6m | -34.4% |
| Provisions and deferred taxes | 16 | €671,943 | €399,671 | -€272,272 | -40.5% |
| Provisions for liabilities and charges | 160/5 | €671,943 | €399,671 | -€272,272 | -40.5% |
| Other liabilities and charges | 164/5 | €671,943 | €399,671 | -€272,272 | -40.5% |
| Amounts payable | 17/49 | €25,693,905 | €50,417,797 | +€24.7m | +96.2% |
| Amounts payable after more than one year | 17 | - | €10,000,000 | +€10.0m | |
| Financial debts | 170/4 | - | €10,000,000 | +€10.0m | |
| Credit institutions | 173 | - | €10,000,000 | +€10.0m | |
| Amounts payable within one year | 42/48 | €25,459,857 | €40,286,107 | +€14.8m | +58.2% |
| Current portion of amounts payable after more than one year | 42 | €10,000,000 | - | -€10.0m | |
| Financial debts | 43 | - | €18,789,065 | +€18.8m | |
| Credit institutions | 430/8 | - | €18,789,065 | +€18.8m | |
| Trade debts | 44 | €4,448,302 | €6,299,647 | +€1.9m | +41.6% |
| Suppliers | 440/4 | €4,448,302 | €6,299,647 | +€1.9m | +41.6% |
| Advances received on contracts in progress | 46 | €783,444 | €618,170 | -€165,274 | -21.1% |
| Taxes, remuneration and social security | 45 | €743,496 | €766,413 | +€22,917 | +3.1% |
| Taxes | 450/3 | €483,597 | €248,840 | -€234,757 | -48.5% |
| Remuneration and social security | 454/9 | €259,899 | €517,573 | +€257,674 | +99.1% |
| Other amounts payable | 47/48 | €9,484,615 | €13,812,812 | +€4.3m | +45.6% |
| Accrued charges and deferred income | 492/3 | €234,048 | €131,690 | -€102,358 | -43.7% |
| Operating income | 70/76A | €30,047,585 | €29,678,774 | -€368,811 | -1.2% |
| Turnover | 70 | €30,845,280 | €29,468,195 | -€1.4m | -4.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€2,347,817 | -€1,946,135 | +€401,682 | +17.1% |
| Other operating income | 74 | €1,550,122 | €2,156,714 | +€606,592 | +39.1% |
| Operating charges | 60/66A | €30,085,176 | €29,236,179 | -€848,997 | -2.8% |
| Goods for resale, raw materials and consumables | 60 | €16,909,009 | €8,359,366 | -€8.5m | -50.6% |
| Purchases | 600/8 | €16,881,473 | €8,405,924 | -€8.5m | -50.2% |
| Change in stocks: decrease (increase) | 609 | €27,536 | -€46,558 | -€74,094 | |
| Services and other goods | 61 | €9,869,152 | €17,344,137 | +€7.5m | +75.7% |
| Remuneration, social security and pensions | 62 | €2,732,218 | €3,089,080 | +€356,862 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,905 | €298,580 | +€89,675 | +42.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€22,994 | €251,701 | +€274,695 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €228,952 | -€272,272 | -€501,224 | |
| Other operating charges | 640/8 | €159,934 | €165,587 | +€5,653 | +3.5% |
| Operating profit (loss) | 9901 | -€37,591 | €442,595 | +€480,186 | |
| Financial income | 75/76B | €9,172,534 | €12,874,751 | +€3.7m | +40.4% |
| Recurring financial income | 75 | €9,172,534 | €12,874,751 | +€3.7m | +40.4% |
| Income from financial fixed assets | 750 | €8,298,145 | €12,661,813 | +€4.4m | +52.6% |
| Income from current assets | 751 | €731,858 | €123,414 | -€608,444 | -83.1% |
| Other financial income | 752/9 | €142,531 | €89,524 | -€53,007 | -37.2% |
| Financial charges | 65/66B | €341,541 | €455,952 | +€114,411 | +33.5% |
| Recurring financial charges | 65 | €341,541 | €455,952 | +€114,411 | +33.5% |
| Debt charges | 650 | €274,721 | €382,591 | +€107,870 | +39.3% |
| Other financial charges | 652/9 | €66,820 | €73,361 | +€6,541 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €8,793,402 | €12,861,394 | +€4.1m | +46.3% |
| Income taxes | 67/77 | €64,571 | €228,181 | +€163,610 | +253% |
| Taxes | 670/3 | €71,452 | €228,181 | +€156,729 | +219% |
| Tax adjustments and reversals of tax provisions | 77 | €6,881 | - | -€6,881 | |
| Profit (loss) for the period | 9904 | €8,728,831 | €12,633,213 | +€3.9m | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,728,831 | €12,633,213 | +€3.9m | +44.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.