Jermaux: 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.
Jermaux
Largest movements
- Current investments +€112,745
up €112,745 (+170.6%), from €66,082 to €178,827
- Cash -€27,808
down €27,808 (-23.6%), from €118,077 to €90,269
mainly Contributions, distributions and other (-€318,921) and Current investments (-€112,745)
- Deferred charges and accrued income +€6,339
up €6,339 (+8.6%), from €73,622 to €79,961
- Other debts +€224,709
up €224,709 (+374.0%), from €60,079 to €284,788
- Reserves -€187,785
down €187,785 (-100.0%), from €187,785 to €0
- Tax, wage and social debts +€52,500
new in 2025: €52,500
- Gross operating margin +€19,394
up €19,394 (+12.0%), from €161,794 to €181,188
- Taxes +€10,459
up €10,459 (+29.9%), from €34,971 to €45,431
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 | €267,575 | €360,483 | +€92,908 | +34.7% |
| Fixed assets | 21/28 | €600 | €3,919 | +€3,320 | +553.6% |
| Tangible fixed assets | 22/27 | €600 | €3,919 | +€3,320 | +553.6% |
| Plant, machinery and equipment | 23 | - | €3,794 | +€3,794 | |
| Furniture and vehicles | 24 | €600 | €126 | -€474 | -79.0% |
| Current assets | 29/58 | €266,975 | €356,563 | +€89,588 | +33.6% |
| Amounts receivable within one year | 40/41 | €9,195 | €7,507 | -€1,688 | -18.4% |
| Trade receivables | 40 | €31 | €63 | +€33 | +106.6% |
| Other amounts receivable | 41 | €9,164 | €7,444 | -€1,720 | -18.8% |
| Current investments | 50/53 | €66,082 | €178,827 | +€112,745 | +170.6% |
| Cash at bank and in hand | 54/58 | €118,077 | €90,269 | -€27,808 | -23.6% |
| Deferred charges and accrued income | 490/1 | €73,622 | €79,961 | +€6,339 | +8.6% |
| Total equity and liabilities | 10/49 | €267,575 | €360,483 | +€92,908 | +34.7% |
| Equity | 10/15 | €206,385 | €18,600 | -€187,785 | -91.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €187,785 | €0 | -€187,785 | -100.0% |
| Distributable reserves | 133 | €187,785 | €0 | -€187,785 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,190 | €341,883 | +€280,693 | +458.7% |
| Amounts payable within one year | 42/48 | €61,190 | €341,349 | +€280,159 | +457.9% |
| Trade debts | 44 | €1,111 | €4,061 | +€2,950 | +265.6% |
| Suppliers | 440/4 | €1,111 | €4,061 | +€2,950 | +265.6% |
| Taxes, remuneration and social security | 45 | - | €52,500 | +€52,500 | |
| Taxes | 450/3 | - | €52,500 | +€52,500 | |
| Other amounts payable | 47/48 | €60,079 | €284,788 | +€224,709 | +374.0% |
| Accrued charges and deferred income | 492/3 | €0 | €534 | +€534 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €474 | €501 | +€27 | +5.8% |
| Other operating charges | 640/8 | €985 | €1,728 | +€743 | +75.5% |
| Non-recurring operating charges | 66A | - | €2,000 | +€2,000 | |
| Gross operating margin | 9900 | €161,794 | €181,188 | +€19,394 | +12.0% |
| Operating profit (loss) | 9901 | €160,335 | €176,959 | +€16,624 | +10.4% |
| Financial income | 75/76B | €117 | €1,583 | +€1,466 | +1252.0% |
| Recurring financial income | 75 | €117 | €1,583 | +€1,466 | +1252.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,782 | €1,975 | +€194 | +10.9% |
| Recurring financial charges | 65 | €1,782 | €1,975 | +€194 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €158,671 | €176,567 | +€17,896 | +11.3% |
| Income taxes | 67/77 | €34,971 | €45,431 | +€10,459 | +29.9% |
| Profit (loss) for the period | 9904 | €123,700 | €131,136 | +€7,437 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €123,700 | €131,136 | +€7,437 | +6.0% |
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 9 October 2026 via checked.be.