JEPA: what changed
What changed
JEPA
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
€56,327
2024 · €25,355+€30,972
Equity
€426,111
2024 · €369,784+€56,327
Cash
€291,788
2024 · €108,386+€183,402
Balance sheet total
€483,639
2024 · €448,568+€35,071
Largest movements
Assets
- Cash +€183,402
up €183,402 (+169%), from €108,386 to €291,788
mainly Current investments (+€100,000) and Net result for the year (+€56,327)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€36,491
down €36,491 (-18.4%), from €198,751 to €162,260
of which Furniture and vehicles: -€28,124
- Receivables within one year -€9,902
down €9,902 (-51.6%), from €19,200 to €9,298
of which Trade receivables: -€7,641
Equity and liabilities
- Profit (loss) carried forward +€56,327
up €56,327 (+97.7%), from €57,629 to €113,956
- Current portion of long-term debt -€13,224
no longer reported in 2025 (was €13,224)
- Trade debts -€5,601
down €5,601 (-31.0%), from €18,067 to €12,466
Income statement
- Gross operating margin +€38,652
up €38,652 (+64.6%), from €59,863 to €98,516
- Taxes +€13,039
up €13,039 (+110%), from €11,850 to €24,889
- Financial income +€10,111
up €10,111 (+1,099%), from €920 to €11,031
of which Non-recurring financial income: +€7,068
- Depreciation +€4,011
up €4,011 (+20.5%), from €19,548 to €23,559
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
€25,355
Gross operating margin
+€38,652
Staff costs
-€543
Depreciation
-€4,011
Other operating charges
+€373
Financial income
+€10,111
Financial charges
-€572
Taxes
-€13,039
Result 2025
€56,327
raises the resultlowers the result
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
+€83,354
Investment
+€112,932
Financing
-€12,883
Cash 2024
€108,386
From operations (derived)
+€83,354
Net result for the year
+€56,327
Depreciation
+€23,559
Stocks and contracts
+€1,663
Receivables within one year
+€9,902
Deferred charges and accrued income
+€275
Trade debts
-€5,601
Other debts
-€2,714
Accrued charges and deferred income
-€58
Investment (derived)
+€112,932
Investment in fixed assets (net)
+€12,932
Current investments
+€100,000
Financing
-€12,883
Current portion of long-term debt
-€13,224
Short-term financial debts
+€341
Cash 2025
€291,788
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €448,568 | €483,639 | +€35,071 | +7.8% |
| Fixed assets | 21/28 | €199,021 | €162,530 | -€36,491 | -18.3% |
| Tangible fixed assets | 22/27 | €198,751 | €162,260 | -€36,491 | -18.4% |
| Land and buildings | 22 | €122,800 | €114,699 | -€8,101 | -6.6% |
| Plant, machinery and equipment | 23 | €1,030 | €764 | -€266 | -25.8% |
| Furniture and vehicles | 24 | €74,922 | €46,798 | -€28,124 | -37.5% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €249,547 | €321,109 | +€71,562 | +28.7% |
| Stocks and contracts in progress | 3 | €18,751 | €17,088 | -€1,663 | -8.9% |
| Stocks | 30/36 | €18,751 | €17,088 | -€1,663 | -8.9% |
| Amounts receivable within one year | 40/41 | €19,200 | €9,298 | -€9,902 | -51.6% |
| Trade receivables | 40 | €12,378 | €4,738 | -€7,641 | -61.7% |
| Other amounts receivable | 41 | €6,822 | €4,560 | -€2,261 | -33.2% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €108,386 | €291,788 | +€183,402 | +169% |
| Deferred charges and accrued income | 490/1 | €3,210 | €2,935 | -€275 | -8.6% |
| Total equity and liabilities | 10/49 | €448,568 | €483,639 | +€35,071 | +7.8% |
| Equity | 10/15 | €369,784 | €426,111 | +€56,327 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €293,555 | €293,555 | = | 0.0% |
| Distributable reserves | 133 | €293,555 | €293,555 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,629 | €113,956 | +€56,327 | +97.7% |
| Amounts payable | 17/49 | €78,783 | €57,528 | -€21,255 | -27.0% |
| Amounts payable after more than one year | 17 | €44,720 | €44,720 | = | 0.0% |
| Financial debts | 170/4 | €44,720 | €44,720 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,005 | €12,807 | -€21,197 | -62.3% |
| Current portion of amounts payable after more than one year | 42 | €13,224 | - | -€13,224 | |
| Financial debts | 43 | - | €341 | +€341 | |
| Credit institutions | 430/8 | - | €341 | +€341 | |
| Trade debts | 44 | €18,067 | €12,466 | -€5,601 | -31.0% |
| Suppliers | 440/4 | €18,067 | €12,466 | -€5,601 | -31.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,714 | - | -€2,714 | |
| Accrued charges and deferred income | 492/3 | €58 | - | -€58 | |
| Non-recurring operating income | 76A | €2,438 | - | -€2,438 | |
| Remuneration, social security and pensions | 62 | - | €543 | +€543 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,548 | €23,559 | +€4,011 | +20.5% |
| Other operating charges | 640/8 | €2,516 | €2,143 | -€373 | -14.8% |
| Gross operating margin | 9900 | €59,863 | €98,516 | +€38,652 | +64.6% |
| Operating profit (loss) | 9901 | €37,799 | €72,270 | +€34,471 | +91.2% |
| Financial income | 75/76B | €920 | €11,031 | +€10,111 | +1,099% |
| Recurring financial income | 75 | €920 | €3,963 | +€3,043 | +331% |
| Non-recurring financial income | 76B | - | €7,068 | +€7,068 | |
| Financial charges | 65/66B | €1,514 | €2,086 | +€572 | +37.8% |
| Recurring financial charges | 65 | €1,514 | €2,086 | +€572 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €37,205 | €81,215 | +€44,010 | +118% |
| Income taxes | 67/77 | €11,850 | €24,889 | +€13,039 | +110% |
| Profit (loss) for the period | 9904 | €25,355 | €56,327 | +€30,972 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €25,355 | €56,327 | +€30,972 | +122% |
Next steps
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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.