JERARMO: 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.
JERARMO
Largest movements
- Cash -€38,379
down €38,379 (-54.2%), from €70,874 to €32,495
mainly Net result for the year (-€22,862) and Tax, wage and social debts (-€13,561)
- Receivables within one year +€12,170
up €12,170 (+47.7%), from €25,519 to €37,688
of which Other amounts receivable: +€12,075
- Tangible fixed assets -€9,378
down €9,378 (-26.5%), from €35,329 to €25,951
- Deferred charges and accrued income +€8,657
new in 2025: €8,657
- Profit (loss) carried forward -€22,862
down €22,862 (-87.8%), from €26,029 to €3,166
- Trade debts +€18,704
up €18,704 (+98.0%), from €19,090 to €37,794
- Tax, wage and social debts -€13,561
down €13,561 (-24.3%), from €55,775 to €42,215
of which Remuneration and social security: -€9,207
- Current portion of long-term debt -€7,585
down €7,585 (-83.1%), from €9,123 to €1,538
- Debts after one year -€1,538
no longer reported in 2025 (was €1,538)
- Gross operating margin -€45,311
down €45,311 (-32.9%), from €137,852 to €92,541
- Taxes -€10,255
down €10,255 (-94.5%), from €10,848 to €593
- Staff costs +€9,530
up €9,530 (+11.4%), from €83,677 to €93,207
- Other operating charges +€2,436
up €2,436 (+79.2%), from €3,074 to €5,510
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 | €132,256 | €105,326 | -€26,930 | -20.4% |
| Fixed assets | 21/28 | €35,864 | €26,486 | -€9,378 | -26.1% |
| Tangible fixed assets | 22/27 | €35,329 | €25,951 | -€9,378 | -26.5% |
| Plant, machinery and equipment | 23 | €4,602 | €1,473 | -€3,129 | -68.0% |
| Furniture and vehicles | 24 | €4,427 | €2,301 | -€2,125 | -48.0% |
| Other tangible fixed assets | 26 | €26,300 | €22,177 | -€4,124 | -15.7% |
| Financial fixed assets | 28 | €535 | €535 | = | 0.0% |
| Current assets | 29/58 | €96,393 | €78,840 | -€17,552 | -18.2% |
| Amounts receivable within one year | 40/41 | €25,519 | €37,688 | +€12,170 | +47.7% |
| Trade receivables | 40 | €361 | €456 | +€95 | +26.2% |
| Other amounts receivable | 41 | €25,157 | €37,232 | +€12,075 | +48.0% |
| Cash at bank and in hand | 54/58 | €70,874 | €32,495 | -€38,379 | -54.2% |
| Deferred charges and accrued income | 490/1 | - | €8,657 | +€8,657 | |
| Total equity and liabilities | 10/49 | €132,256 | €105,326 | -€26,930 | -20.4% |
| Equity | 10/15 | €44,948 | €21,132 | -€23,816 | -53.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,029 | €3,166 | -€22,862 | -87.8% |
| Investment grants | 15 | €3,919 | €2,966 | -€954 | -24.3% |
| Amounts payable | 17/49 | €87,309 | €84,194 | -€3,115 | -3.6% |
| Amounts payable after more than one year | 17 | €1,538 | - | -€1,538 | |
| Financial debts | 170/4 | €1,538 | - | -€1,538 | |
| Amounts payable within one year | 42/48 | €85,591 | €84,194 | -€1,397 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €9,123 | €1,538 | -€7,585 | -83.1% |
| Trade debts | 44 | €19,090 | €37,794 | +€18,704 | +98.0% |
| Suppliers | 440/4 | €19,090 | €37,794 | +€18,704 | +98.0% |
| Taxes, remuneration and social security | 45 | €55,775 | €42,215 | -€13,561 | -24.3% |
| Taxes | 450/3 | €29,311 | €24,958 | -€4,353 | -14.9% |
| Remuneration and social security | 454/9 | €26,464 | €17,257 | -€9,207 | -34.8% |
| Other amounts payable | 47/48 | €1,603 | €2,647 | +€1,044 | +65.2% |
| Accrued charges and deferred income | 492/3 | €179 | - | -€179 | |
| Remuneration, social security and pensions | 62 | €83,677 | €93,207 | +€9,530 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,292 | €9,378 | +€87 | +0.9% |
| Other operating charges | 640/8 | €3,074 | €5,510 | +€2,436 | +79.2% |
| Gross operating margin | 9900 | €137,852 | €92,541 | -€45,311 | -32.9% |
| Operating profit (loss) | 9901 | €41,809 | -€15,554 | -€57,364 | |
| Financial income | 75/76B | €1,052 | €1,011 | -€41 | -3.9% |
| Recurring financial income | 75 | €1,052 | €1,011 | -€41 | -3.9% |
| Financial charges | 65/66B | €7,819 | €7,726 | -€93 | -1.2% |
| Recurring financial charges | 65 | €7,819 | €7,726 | -€93 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €35,042 | -€22,269 | -€57,311 | |
| Income taxes | 67/77 | €10,848 | €593 | -€10,255 | -94.5% |
| Profit (loss) for the period | 9904 | €24,194 | -€22,862 | -€47,056 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,194 | -€22,862 | -€47,056 |
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.