JEPPE: 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.
JEPPE
Largest movements
- Cash +€1.1m
up €1.1m (+79.5%), from €1.4m to €2.5m
mainly Other debts (+€1.8m) and Investment in fixed assets (net) (+€706,169)
- Financial fixed assets -€700,000
down €700,000 (-39.1%), from €1.8m to €1.1m
- Receivables within one year -€268,939
down €268,939 (-75.1%), from €357,956 to €89,016
of which Other amounts receivable: -€268,009
- Other debts +€1.8m
up €1.8m (+1,113%), from €165,871 to €2.0m
- Reserves -€1.8m
down €1.8m (-31.8%), from €5.6m to €3.8m
- Financial income -€70,405
down €70,405 (-19.2%), from €366,892 to €296,488
- Gross operating margin -€66,919
down €66,919 (-55.1%), from €121,422 to €54,502
- Taxes -€42,196
down €42,196 (-39.1%), from €107,996 to €65,800
- Other operating charges +€3,771
up €3,771 (+160%), from €2,359 to €6,130
- Depreciation -€3,367
down €3,367 (-7.5%), from €44,623 to €41,256
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,027,295 | €6,058,752 | +€31,457 | +0.5% |
| Fixed assets | 21/28 | €1,976,612 | €1,229,187 | -€747,425 | -37.8% |
| Tangible fixed assets | 22/27 | €186,371 | €138,946 | -€47,425 | -25.4% |
| Plant, machinery and equipment | 23 | €2,000 | €1,850 | -€150 | -7.5% |
| Furniture and vehicles | 24 | €184,371 | €137,095 | -€47,275 | -25.6% |
| Financial fixed assets | 28 | €1,790,242 | €1,090,242 | -€700,000 | -39.1% |
| Current assets | 29/58 | €4,050,683 | €4,829,565 | +€778,882 | +19.2% |
| Amounts receivable after more than one year | 29 | €303,000 | €243,000 | -€60,000 | -19.8% |
| Other amounts receivable | 291 | €303,000 | €243,000 | -€60,000 | -19.8% |
| Amounts receivable within one year | 40/41 | €357,956 | €89,016 | -€268,939 | -75.1% |
| Trade receivables | 40 | €3,956 | €3,025 | -€931 | -23.5% |
| Other amounts receivable | 41 | €354,000 | €85,991 | -€268,009 | -75.7% |
| Current investments | 50/53 | €1,909,857 | €1,933,415 | +€23,559 | +1.2% |
| Cash at bank and in hand | 54/58 | €1,414,870 | €2,540,017 | +€1.1m | +79.5% |
| Deferred charges and accrued income | 490/1 | €65,001 | €24,116 | -€40,885 | -62.9% |
| Total equity and liabilities | 10/49 | €6,027,295 | €6,058,752 | +€31,457 | +0.5% |
| Equity | 10/15 | €5,807,429 | €4,042,551 | -€1.8m | -30.4% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €5,557,500 | €3,787,500 | -€1.8m | -31.8% |
| Distributable reserves | 133 | €5,557,500 | €3,787,500 | -€1.8m | -31.8% |
| Profit (loss) carried forward | 14 | €228,929 | €234,051 | +€5,122 | +2.2% |
| Amounts payable | 17/49 | €219,866 | €2,016,201 | +€1.8m | +817% |
| Amounts payable within one year | 42/48 | €216,766 | €2,016,201 | +€1.8m | +830% |
| Trade debts | 44 | €283 | €1,691 | +€1,408 | +497% |
| Suppliers | 440/4 | €283 | €1,691 | +€1,408 | +497% |
| Taxes, remuneration and social security | 45 | €50,612 | €3,282 | -€47,330 | -93.5% |
| Taxes | 450/3 | €49,992 | €3,282 | -€46,710 | -93.4% |
| Remuneration and social security | 454/9 | €620 | - | -€620 | |
| Other amounts payable | 47/48 | €165,871 | €2,011,228 | +€1.8m | +1,113% |
| Accrued charges and deferred income | 492/3 | €3,100 | - | -€3,100 | |
| Non-recurring operating income | 76A | €28,926 | - | -€28,926 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,623 | €41,256 | -€3,367 | -7.5% |
| Other operating charges | 640/8 | €2,359 | €6,130 | +€3,771 | +160% |
| Gross operating margin | 9900 | €121,422 | €54,502 | -€66,919 | -55.1% |
| Operating profit (loss) | 9901 | €74,439 | €7,116 | -€67,324 | -90.4% |
| Financial income | 75/76B | €366,892 | €296,488 | -€70,405 | -19.2% |
| Recurring financial income | 75 | €366,892 | €296,488 | -€70,405 | -19.2% |
| Financial charges | 65/66B | €40 | €2,682 | +€2,642 | +6,591% |
| Recurring financial charges | 65 | €40 | €2,682 | +€2,642 | +6,591% |
| Profit (loss) for the period before taxes | 9903 | €441,292 | €300,922 | -€140,370 | -31.8% |
| Income taxes | 67/77 | €107,996 | €65,800 | -€42,196 | -39.1% |
| Profit (loss) for the period | 9904 | €333,295 | €235,122 | -€98,174 | -29.5% |
| Transfer from tax-exempt reserves | 789 | €64,080 | - | -€64,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €397,375 | €235,122 | -€162,254 | -40.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.