JERGA: 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.
JERGA
Largest movements
- Tangible fixed assets -€96,371
down €96,371 (-13.7%), from €704,360 to €607,989
of which Land and buildings: -€54,211
- Cash +€14,991
up €14,991 (+11.2%), from €134,035 to €149,027
mainly Other debts (+€129,921) and Net result for the year (+€122,984)
- Other debts +€129,921
up €129,921 (+22281.2%), from €583 to €130,505
- Profit (loss) carried forward -€72,201
down €72,201 (-100.0%), from €72,201 to €0
- Current portion of long-term debt -€70,305
down €70,305 (-85.0%), from €82,680 to €12,375
- Reserves -€57,797
down €57,797 (-6.9%), from €833,530 to €775,734
- Tax, wage and social debts +€16,762
up €16,762 (+72.3%), from €23,191 to €39,953
of which Taxes: +€18,013
- Gross operating margin -€61,238
down €61,238 (-17.3%), from €353,426 to €292,189
- Depreciation -€11,239
down €11,239 (-14.5%), from €77,616 to €66,377
- Taxes -€10,515
down €10,515 (-15.1%), from €69,690 to €59,175
- Staff costs -€7,345
down €7,345 (-15.1%), from €48,581 to €41,237
- Other operating charges -€3,809
down €3,809 (-42.1%), from €9,052 to €5,243
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 | €1,065,032 | €997,951 | -€67,081 | -6.3% |
| Fixed assets | 21/28 | €705,535 | €609,164 | -€96,371 | -13.7% |
| Tangible fixed assets | 22/27 | €704,360 | €607,989 | -€96,371 | -13.7% |
| Land and buildings | 22 | €183,474 | €129,263 | -€54,211 | -29.5% |
| Plant, machinery and equipment | 23 | €13,703 | €8,731 | -€4,972 | -36.3% |
| Furniture and vehicles | 24 | €52,708 | €50,705 | -€2,003 | -3.8% |
| Other tangible fixed assets | 26 | €454,475 | €419,290 | -€35,185 | -7.7% |
| Financial fixed assets | 28 | €1,175 | €1,175 | = | 0.0% |
| Current assets | 29/58 | €359,497 | €388,787 | +€29,290 | +8.1% |
| Amounts receivable within one year | 40/41 | €102,294 | €109,745 | +€7,451 | +7.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €102,294 | €109,745 | +€7,451 | +7.3% |
| Cash at bank and in hand | 54/58 | €134,035 | €149,027 | +€14,991 | +11.2% |
| Deferred charges and accrued income | 490/1 | €123,168 | €130,016 | +€6,848 | +5.6% |
| Total equity and liabilities | 10/49 | €1,065,032 | €997,951 | -€67,081 | -6.3% |
| Equity | 10/15 | €924,332 | €794,334 | -€129,998 | -14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €833,530 | €775,734 | -€57,797 | -6.9% |
| Distributable reserves | 133 | €833,530 | €775,734 | -€57,797 | -6.9% |
| Profit (loss) carried forward | 14 | €72,201 | €0 | -€72,201 | -100.0% |
| Amounts payable | 17/49 | €140,700 | €203,618 | +€62,917 | +44.7% |
| Amounts payable after more than one year | 17 | €12,375 | €0 | -€12,375 | -100.0% |
| Financial debts | 170/4 | €12,375 | €0 | -€12,375 | -100.0% |
| Amounts payable within one year | 42/48 | €128,299 | €203,618 | +€75,318 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €82,680 | €12,375 | -€70,305 | -85.0% |
| Financial debts | 43 | €16,432 | €16,320 | -€112 | -0.7% |
| Credit institutions | 430/8 | €16,432 | €16,320 | -€112 | -0.7% |
| Trade debts | 44 | €5,412 | €4,465 | -€948 | -17.5% |
| Suppliers | 440/4 | €5,412 | €4,465 | -€948 | -17.5% |
| Taxes, remuneration and social security | 45 | €23,191 | €39,953 | +€16,762 | +72.3% |
| Taxes | 450/3 | €21,940 | €39,953 | +€18,013 | +82.1% |
| Remuneration and social security | 454/9 | €1,251 | €0 | -€1,251 | -100.0% |
| Other amounts payable | 47/48 | €583 | €130,505 | +€129,921 | +22281.2% |
| Accrued charges and deferred income | 492/3 | €26 | €0 | -€26 | -100.0% |
| Non-recurring operating income | 76A | €27,326 | €10,154 | -€17,172 | -62.8% |
| Remuneration, social security and pensions | 62 | €48,581 | €41,237 | -€7,345 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,616 | €66,377 | -€11,239 | -14.5% |
| Other operating charges | 640/8 | €9,052 | €5,243 | -€3,809 | -42.1% |
| Gross operating margin | 9900 | €353,426 | €292,189 | -€61,238 | -17.3% |
| Operating profit (loss) | 9901 | €218,177 | €179,332 | -€38,845 | -17.8% |
| Financial income | 75/76B | €5,996 | €5,843 | -€153 | -2.6% |
| Recurring financial income | 75 | €5,996 | €5,843 | -€153 | -2.6% |
| Financial charges | 65/66B | €5,925 | €3,015 | -€2,910 | -49.1% |
| Recurring financial charges | 65 | €5,925 | €3,015 | -€2,910 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €218,248 | €182,159 | -€36,089 | -16.5% |
| Income taxes | 67/77 | €69,690 | €59,175 | -€10,515 | -15.1% |
| Profit (loss) for the period | 9904 | €148,558 | €122,984 | -€25,574 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €148,558 | €122,984 | -€25,574 | -17.2% |
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 29 September 2026 via checked.be.