JEPIKO: 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.
JEPIKO
Largest movements
- Cash +€104,050
up €104,050 (+52.3%), from €198,808 to €302,858
mainly Net result for the year (+€103,232) and Depreciation (+€93,117)
- Tangible fixed assets -€76,752
down €76,752 (-5.6%), from €1.4m to €1.3m
of which Land and buildings: -€48,954
- Stocks and contracts +€21,982
up €21,982 (+75.2%), from €29,219 to €51,201
- Reserves +€103,232
up €103,232 (+11.0%), from €939,083 to €1.0m
- Debts after one year -€86,569
down €86,569 (-10.2%), from €845,442 to €758,872
- Tax, wage and social debts +€34,030
up €34,030 (+58.7%), from €57,935 to €91,964
of which Taxes: +€24,201
- Staff costs +€127,064
up €127,064 (+25.4%), from €500,274 to €627,337
- Gross operating margin +€87,165
up €87,165 (+10.9%), from €798,811 to €885,976
- Taxes -€11,123
down €11,123 (-20.3%), from €54,775 to €43,652
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 | €1,982,718 | €2,029,920 | +€47,202 | +2.4% |
| Fixed assets | 21/28 | €1,364,195 | €1,287,443 | -€76,752 | -5.6% |
| Tangible fixed assets | 22/27 | €1,364,145 | €1,287,393 | -€76,752 | -5.6% |
| Land and buildings | 22 | €1,261,512 | €1,212,558 | -€48,954 | -3.9% |
| Plant, machinery and equipment | 23 | €39,455 | €34,359 | -€5,096 | -12.9% |
| Furniture and vehicles | 24 | €63,178 | €40,476 | -€22,702 | -35.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €618,523 | €742,477 | +€123,954 | +20.0% |
| Stocks and contracts in progress | 3 | €29,219 | €51,201 | +€21,982 | +75.2% |
| Stocks | 30/36 | €29,219 | €51,201 | +€21,982 | +75.2% |
| Amounts receivable within one year | 40/41 | €9,770 | €10,036 | +€266 | +2.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,770 | €10,036 | +€266 | +2.7% |
| Current investments | 50/53 | €370,000 | €370,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €198,808 | €302,858 | +€104,050 | +52.3% |
| Deferred charges and accrued income | 490/1 | €10,725 | €8,381 | -€2,344 | -21.9% |
| Total equity and liabilities | 10/49 | €1,982,718 | €2,029,920 | +€47,202 | +2.4% |
| Equity | 10/15 | €957,683 | €1,060,915 | +€103,232 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €939,083 | €1,042,315 | +€103,232 | +11.0% |
| Distributable reserves | 133 | €939,083 | €1,042,315 | +€103,232 | +11.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,025,035 | €969,005 | -€56,030 | -5.5% |
| Amounts payable after more than one year | 17 | €845,442 | €758,872 | -€86,569 | -10.2% |
| Financial debts | 170/4 | €845,442 | €758,872 | -€86,569 | -10.2% |
| Amounts payable within one year | 42/48 | €178,562 | €209,114 | +€30,552 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €84,728 | €86,569 | +€1,841 | +2.2% |
| Trade debts | 44 | €21,369 | €16,329 | -€5,040 | -23.6% |
| Suppliers | 440/4 | €21,369 | €16,329 | -€5,040 | -23.6% |
| Taxes, remuneration and social security | 45 | €57,935 | €91,964 | +€34,030 | +58.7% |
| Taxes | 450/3 | €13,213 | €37,414 | +€24,201 | +183.2% |
| Remuneration and social security | 454/9 | €44,722 | €54,550 | +€9,828 | +22.0% |
| Other amounts payable | 47/48 | €14,529 | €14,251 | -€278 | -1.9% |
| Accrued charges and deferred income | 492/3 | €1,032 | €1,019 | -€13 | -1.2% |
| Non-recurring operating income | 76A | - | €600 | +€600 | |
| Remuneration, social security and pensions | 62 | €500,274 | €627,337 | +€127,064 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,441 | €93,117 | +€1,676 | +1.8% |
| Other operating charges | 640/8 | €7,543 | €9,243 | +€1,701 | +22.5% |
| Non-recurring operating charges | 66A | €53 | €251 | +€198 | +372.9% |
| Gross operating margin | 9900 | €798,811 | €885,976 | +€87,165 | +10.9% |
| Operating profit (loss) | 9901 | €199,501 | €156,028 | -€43,473 | -21.8% |
| Financial income | 75/76B | €9,683 | €12,626 | +€2,943 | +30.4% |
| Recurring financial income | 75 | €9,683 | €12,626 | +€2,943 | +30.4% |
| Financial charges | 65/66B | €24,121 | €21,769 | -€2,352 | -9.8% |
| Recurring financial charges | 65 | €24,121 | €21,769 | -€2,352 | -9.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €185,063 | €146,884 | -€38,179 | -20.6% |
| Income taxes | 67/77 | €54,775 | €43,652 | -€11,123 | -20.3% |
| Profit (loss) for the period | 9904 | €130,288 | €103,232 | -€27,056 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,288 | €103,232 | -€27,056 | -20.8% |
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 6 October 2026 via checked.be.