JEP: 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.
JEP
Largest movements
- Stocks and contracts -€437,830
no longer reported in 2025 (was €437,830)
- Tangible fixed assets +€22,113
up €22,113 (+850.4%), from €2,600 to €24,713
- Receivables within one year +€10,503
up €10,503 (+21.2%), from €49,490 to €59,993
of which Trade receivables: +€10,503
- Deferred charges and accrued income -€5,554
no longer reported in 2025 (was €5,554)
- Short-term financial debts -€225,000
no longer reported in 2025 (was €225,000)
- Other debts -€77,639
down €77,639 (-76.8%), from €101,033 to €23,395
- Debts after one year -€58,275
no longer reported in 2025 (was €58,275)
- Trade debts -€31,285
down €31,285 (-99.0%), from €31,603 to €318
- Reserves -€28,516
down €28,516 (-27.9%), from €102,043 to €73,527
- Other operating charges +€40,509
up €40,509 (+32381.3%), from €125 to €40,634
- Gross operating margin -€6,854
down €6,854 (-16.4%), from €41,872 to €35,017
- Taxes -€5,309
down €5,309 (-96.4%), from €5,510 to €201
- Depreciation +€2,392
up €2,392 (+341.5%), from €700 to €3,092
- Financial income -€2,000
no longer reported in 2025 (was €2,000)
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 | €549,288 | €137,236 | -€412,053 | -75.0% |
| Fixed assets | 21/28 | €2,600 | €27,213 | +€24,613 | +946.6% |
| Tangible fixed assets | 22/27 | €2,600 | €24,713 | +€22,113 | +850.4% |
| Furniture and vehicles | 24 | €2,600 | €24,713 | +€22,113 | +850.4% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €546,688 | €110,023 | -€436,665 | -79.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €437,830 | - | -€437,830 | |
| Stocks | 30/36 | €437,830 | - | -€437,830 | |
| Amounts receivable within one year | 40/41 | €49,490 | €59,993 | +€10,503 | +21.2% |
| Trade receivables | 40 | €40,000 | €50,503 | +€10,503 | +26.3% |
| Other amounts receivable | 41 | €9,490 | €9,490 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,814 | €30 | -€3,784 | -99.2% |
| Deferred charges and accrued income | 490/1 | €5,554 | - | -€5,554 | |
| Total equity and liabilities | 10/49 | €549,288 | €137,236 | -€412,053 | -75.0% |
| Equity | 10/15 | €120,643 | €92,127 | -€28,516 | -23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,043 | €73,527 | -€28,516 | -27.9% |
| Distributable reserves | 133 | €102,043 | €73,527 | -€28,516 | -27.9% |
| Amounts payable | 17/49 | €428,645 | €45,109 | -€383,537 | -89.5% |
| Amounts payable after more than one year | 17 | €58,275 | - | -€58,275 | |
| Financial debts | 170/4 | €58,275 | - | -€58,275 | |
| Amounts payable within one year | 42/48 | €370,370 | €45,109 | -€325,261 | -87.8% |
| Current portion of amounts payable after more than one year | 42 | €6,382 | €13,417 | +€7,035 | +110.2% |
| Financial debts | 43 | €225,000 | - | -€225,000 | |
| Credit institutions | 430/8 | €225,000 | - | -€225,000 | |
| Trade debts | 44 | €31,603 | €318 | -€31,285 | -99.0% |
| Suppliers | 440/4 | €31,603 | €318 | -€31,285 | -99.0% |
| Taxes, remuneration and social security | 45 | €6,351 | €7,979 | +€1,628 | +25.6% |
| Taxes | 450/3 | €4,551 | €4,979 | +€428 | +9.4% |
| Remuneration and social security | 454/9 | €1,800 | €3,000 | +€1,200 | +66.7% |
| Other amounts payable | 47/48 | €101,033 | €23,395 | -€77,639 | -76.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €3,092 | +€2,392 | +341.5% |
| Other operating charges | 640/8 | €125 | €40,634 | +€40,509 | +32381.3% |
| Gross operating margin | 9900 | €41,872 | €35,017 | -€6,854 | -16.4% |
| Operating profit (loss) | 9901 | €41,046 | -€8,709 | -€49,755 | |
| Financial income | 75/76B | €2,000 | - | -€2,000 | |
| Recurring financial income | 75 | €2,000 | - | -€2,000 | |
| Financial charges | 65/66B | €17,610 | €18,706 | +€1,096 | +6.2% |
| Recurring financial charges | 65 | €17,610 | €18,706 | +€1,096 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €25,436 | -€27,415 | -€52,851 | |
| Income taxes | 67/77 | €5,510 | €201 | -€5,309 | -96.4% |
| Profit (loss) for the period | 9904 | €19,926 | -€27,616 | -€47,542 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,926 | -€27,616 | -€47,542 |
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 30 September 2026 via checked.be.