JERGO: 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.
JERGO
Largest movements
- Tangible fixed assets -€20,634
down €20,634 (-8.5%), from €243,991 to €223,356
of which Land and buildings: -€14,325
- Receivables within one year -€18,757
down €18,757 (-66.3%), from €28,273 to €9,516
of which Trade receivables: -€21,242
- Current investments +€12,000
up €12,000 (+70.3%), from €17,058 to €29,058
- Cash -€4,483
down €4,483 (-14.3%), from €31,450 to €26,967
mainly Net result for the year (-€27,222) and Current investments (-€12,000)
- Profit (loss) carried forward -€27,222
down €27,222 (-28.3%), from €96,090 to €68,868
- Trade debts -€4,944
down €4,944 (-80.5%), from €6,141 to €1,197
- Gross operating margin -€41,531
down €41,531, from €38,634 to -€2,897
- Taxes -€4,039
down €4,039 (-96.8%), from €4,171 to €132
- Depreciation -€1,480
down €1,480 (-6.7%), from €22,114 to €20,634
- Other operating charges -€446
down €446 (-11.7%), from €3,821 to €3,376
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 | €327,514 | €295,640 | -€31,874 | -9.7% |
| Fixed assets | 21/28 | €244,689 | €224,054 | -€20,634 | -8.4% |
| Tangible fixed assets | 22/27 | €243,991 | €223,356 | -€20,634 | -8.5% |
| Land and buildings | 22 | €229,255 | €214,930 | -€14,325 | -6.2% |
| Furniture and vehicles | 24 | €13,064 | €8,427 | -€4,637 | -35.5% |
| Other tangible fixed assets | 26 | €1,672 | - | -€1,672 | |
| Financial fixed assets | 28 | €698 | €698 | = | 0.0% |
| Current assets | 29/58 | €82,825 | €71,586 | -€11,239 | -13.6% |
| Stocks and contracts in progress | 3 | €3,700 | €3,700 | = | 0.0% |
| Stocks | 30/36 | €3,700 | €3,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,273 | €9,516 | -€18,757 | -66.3% |
| Trade receivables | 40 | €22,444 | €1,202 | -€21,242 | -94.6% |
| Other amounts receivable | 41 | €5,829 | €8,314 | +€2,485 | +42.6% |
| Current investments | 50/53 | €17,058 | €29,058 | +€12,000 | +70.3% |
| Cash at bank and in hand | 54/58 | €31,450 | €26,967 | -€4,483 | -14.3% |
| Deferred charges and accrued income | 490/1 | €2,344 | €2,344 | +€1 | 0.0% |
| Total equity and liabilities | 10/49 | €327,514 | €295,640 | -€31,874 | -9.7% |
| Equity | 10/15 | €264,184 | €236,962 | -€27,222 | -10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €161,894 | €161,894 | = | 0.0% |
| Distributable reserves | 133 | €161,894 | €161,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,090 | €68,868 | -€27,222 | -28.3% |
| Amounts payable | 17/49 | €63,330 | €58,678 | -€4,651 | -7.3% |
| Amounts payable within one year | 42/48 | €63,330 | €58,470 | -€4,860 | -7.7% |
| Trade debts | 44 | €6,141 | €1,197 | -€4,944 | -80.5% |
| Suppliers | 440/4 | €6,141 | €1,197 | -€4,944 | -80.5% |
| Taxes, remuneration and social security | 45 | €444 | - | -€444 | |
| Taxes | 450/3 | €444 | - | -€444 | |
| Other amounts payable | 47/48 | €56,744 | €57,272 | +€528 | +0.9% |
| Accrued charges and deferred income | 492/3 | - | €209 | +€209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,114 | €20,634 | -€1,480 | -6.7% |
| Other operating charges | 640/8 | €3,821 | €3,376 | -€446 | -11.7% |
| Gross operating margin | 9900 | €38,634 | -€2,897 | -€41,531 | |
| Operating profit (loss) | 9901 | €12,698 | -€26,907 | -€39,606 | |
| Financial income | 75/76B | €0 | €90 | +€90 | +47300.0% |
| Recurring financial income | 75 | €0 | €90 | +€90 | +47300.0% |
| Financial charges | 65/66B | €432 | €273 | -€159 | -36.7% |
| Recurring financial charges | 65 | €432 | €273 | -€159 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €12,267 | -€27,090 | -€39,357 | |
| Income taxes | 67/77 | €4,171 | €132 | -€4,039 | -96.8% |
| Profit (loss) for the period | 9904 | €8,096 | -€27,222 | -€35,318 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,096 | -€27,222 | -€35,318 |
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.