JERLO: 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.
JERLO
Largest movements
- Receivables within one year +€186,355
up €186,355 (+600%), from €31,043 to €217,397
of which Other amounts receivable: +€182,999
- Cash -€116,647
down €116,647 (-84.3%), from €138,303 to €21,656
mainly Receivables within one year (-€186,355) and Accrued charges and deferred income (-€34)
- Tangible fixed assets -€27,736
down €27,736 (-15.3%), from €180,899 to €153,164
of which Land and buildings: -€27,536
- Reserves +€35,905
up €35,905 (+12.5%), from €286,510 to €322,415
of which Distributable reserves: +€35,905
- Gross operating margin -€8,319
down €8,319 (-9.1%), from €91,161 to €82,842
- Taxes -€2,057
down €2,057 (-14.6%), from €14,051 to €11,993
- Other operating charges +€954
up €954 (+16.3%), from €5,851 to €6,805
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 | €350,756 | €392,261 | +€41,504 | +11.8% |
| Fixed assets | 21/28 | €180,899 | €153,164 | -€27,736 | -15.3% |
| Tangible fixed assets | 22/27 | €180,899 | €153,164 | -€27,736 | -15.3% |
| Land and buildings | 22 | €179,222 | €151,686 | -€27,536 | -15.4% |
| Plant, machinery and equipment | 23 | €1,677 | €1,477 | -€200 | -11.9% |
| Current assets | 29/58 | €169,857 | €239,097 | +€69,240 | +40.8% |
| Amounts receivable within one year | 40/41 | €31,043 | €217,397 | +€186,355 | +600% |
| Trade receivables | 40 | €9,488 | €12,843 | +€3,355 | +35.4% |
| Other amounts receivable | 41 | €21,555 | €204,554 | +€182,999 | +849% |
| Cash at bank and in hand | 54/58 | €138,303 | €21,656 | -€116,647 | -84.3% |
| Deferred charges and accrued income | 490/1 | €511 | €43 | -€468 | -91.6% |
| Total equity and liabilities | 10/49 | €350,756 | €392,261 | +€41,504 | +11.8% |
| Equity | 10/15 | €348,010 | €383,915 | +€35,905 | +10.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €286,510 | €322,415 | +€35,905 | +12.5% |
| Non-distributable reserves | 130/1 | €6,248 | €6,248 | = | 0.0% |
| Legal reserve | 130 | €6,248 | €6,248 | = | 0.0% |
| Distributable reserves | 133 | €280,261 | €316,166 | +€35,905 | +12.8% |
| Amounts payable | 17/49 | €2,746 | €8,346 | +€5,600 | +204% |
| Amounts payable within one year | 42/48 | €2,612 | €8,246 | +€5,634 | +216% |
| Trade debts | 44 | €1,236 | €5,015 | +€3,780 | +306% |
| Suppliers | 440/4 | €1,236 | €5,015 | +€3,780 | +306% |
| Taxes, remuneration and social security | 45 | €1,377 | €3,231 | +€1,854 | +135% |
| Taxes | 450/3 | €1,377 | €3,231 | +€1,854 | +135% |
| Accrued charges and deferred income | 492/3 | €134 | €100 | -€34 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,553 | €27,736 | -€817 | -2.9% |
| Other operating charges | 640/8 | €5,851 | €6,805 | +€954 | +16.3% |
| Gross operating margin | 9900 | €91,161 | €82,842 | -€8,319 | -9.1% |
| Operating profit (loss) | 9901 | €56,758 | €48,301 | -€8,457 | -14.9% |
| Financial income | 75/76B | €22 | €142 | +€120 | +534% |
| Recurring financial income | 75 | €22 | €142 | +€120 | +534% |
| Financial charges | 65/66B | €577 | €545 | -€32 | -5.5% |
| Recurring financial charges | 65 | €577 | €545 | -€32 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €56,203 | €47,898 | -€8,305 | -14.8% |
| Income taxes | 67/77 | €14,051 | €11,993 | -€2,057 | -14.6% |
| Profit (loss) for the period | 9904 | €42,152 | €35,905 | -€6,248 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,152 | €35,905 | -€6,248 | -14.8% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.