JEPEMIL: what changed
Two financial 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.
What changed
JEPEMIL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€217,317
2024 · -€33,196+€250,514
Equity
€764,505
2024 · €547,187+€217,317
Cash
€6,826
2024 · €11,659-€4,833
Balance sheet total
€1.4m
2024 · €1.2m+€125,685
Largest movements
Assets
- Current investments +€194,872
up €194,872 (+487%), from €40,045 to €234,916
- Tangible fixed assets -€66,233
down €66,233 (-5.7%), from €1.2m to €1.1m
of which Land and buildings: -€35,422
Equity and liabilities
- Profit (loss) carried forward +€230,631
up €230,631, from -€172,116 to €58,515
- Debts after one year -€86,250
down €86,250 (-13.2%), from €652,997 to €566,747
- Current portion of long-term debt -€17,000
no longer reported in 2025 (was €17,000)
Income statement
- Gross operating margin +€242,455
up €242,455 (+266%), from €91,007 to €333,462
- Depreciation -€11,752
down €11,752 (-12.3%), from €95,488 to €83,736
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.
Result 2024
-€33,196
Gross operating margin
+€242,455
Depreciation
+€11,752
Other operating charges
-€1,080
Financial income
+€176
Financial charges
-€2,770
Taxes
-€19
Result 2025
€217,317
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€310,791
Investment
-€212,374
Financing
-€103,250
Cash 2024
€11,659
From operations (derived)
+€310,791
Net result for the year
+€217,317
Depreciation
+€83,736
Receivables within one year
-€2,055
Deferred charges and accrued income
+€176
Trade debts
+€11,289
Other debts
-€1,341
Accrued charges and deferred income
+€1,669
Investment (derived)
-€212,374
Investment in fixed assets (net)
-€17,503
Current investments
-€194,872
Financing
-€103,250
Debts after one year
-€86,250
Current portion of long-term debt
-€17,000
Cash 2025
€6,826
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,231,692 | €1,357,377 | +€125,685 | +10.2% |
| Fixed assets | 21/28 | €1,165,835 | €1,099,602 | -€66,233 | -5.7% |
| Tangible fixed assets | 22/27 | €1,165,835 | €1,099,602 | -€66,233 | -5.7% |
| Land and buildings | 22 | €903,794 | €868,372 | -€35,422 | -3.9% |
| Plant, machinery and equipment | 23 | €259,281 | €228,992 | -€30,289 | -11.7% |
| Furniture and vehicles | 24 | €2,759 | €2,238 | -€521 | -18.9% |
| Current assets | 29/58 | €65,857 | €257,775 | +€191,918 | +291% |
| Amounts receivable within one year | 40/41 | €9,911 | €11,967 | +€2,055 | +20.7% |
| Trade receivables | 40 | €9,455 | €10,939 | +€1,484 | +15.7% |
| Other amounts receivable | 41 | €456 | €1,027 | +€571 | +125% |
| Current investments | 50/53 | €40,045 | €234,916 | +€194,872 | +487% |
| Cash at bank and in hand | 54/58 | €11,659 | €6,826 | -€4,833 | -41.5% |
| Deferred charges and accrued income | 490/1 | €4,242 | €4,067 | -€176 | -4.1% |
| Total equity and liabilities | 10/49 | €1,231,692 | €1,357,377 | +€125,685 | +10.2% |
| Equity | 10/15 | €547,187 | €764,505 | +€217,317 | +39.7% |
| Contributions | 10/11 | €624,000 | €624,000 | = | 0.0% |
| Reserves | 13 | €95,303 | €81,990 | -€13,313 | -14.0% |
| Tax-exempt reserves | 132 | €89,103 | €75,790 | -€13,313 | -14.9% |
| Distributable reserves | 133 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,116 | €58,515 | +€230,631 | |
| Amounts payable | 17/49 | €684,505 | €592,872 | -€91,632 | -13.4% |
| Amounts payable after more than one year | 17 | €652,997 | €566,747 | -€86,250 | -13.2% |
| Financial debts | 170/4 | €652,997 | €566,747 | -€86,250 | -13.2% |
| Amounts payable within one year | 42/48 | €19,696 | €12,644 | -€7,052 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | - | -€17,000 | |
| Trade debts | 44 | €1,233 | €12,522 | +€11,289 | +916% |
| Suppliers | 440/4 | €1,233 | €12,522 | +€11,289 | +916% |
| Other amounts payable | 47/48 | €1,463 | €122 | -€1,341 | -91.7% |
| Accrued charges and deferred income | 492/3 | €11,812 | €13,481 | +€1,669 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,488 | €83,736 | -€11,752 | -12.3% |
| Other operating charges | 640/8 | €15,778 | €16,858 | +€1,080 | +6.8% |
| Gross operating margin | 9900 | €91,007 | €333,462 | +€242,455 | +266% |
| Operating profit (loss) | 9901 | -€20,259 | €232,869 | +€253,127 | |
| Financial income | 75/76B | €70 | €245 | +€176 | +252% |
| Recurring financial income | 75 | €70 | €245 | +€176 | +252% |
| Financial charges | 65/66B | €13,008 | €15,777 | +€2,770 | +21.3% |
| Recurring financial charges | 65 | €13,008 | €15,777 | +€2,770 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,196 | €217,337 | +€250,533 | |
| Income taxes | 67/77 | - | €19 | +€19 | |
| Profit (loss) for the period | 9904 | -€33,196 | €217,317 | +€250,514 | |
| Transfer from tax-exempt reserves | 789 | €15,655 | €13,313 | -€2,342 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,541 | €230,631 | +€248,172 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.