JERMAYO: 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.
What changed
JERMAYO
NACE 10.890, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €2.0m+€924,777
Equity
€5.2m
2024 · €9.6m-€4.4m
Cash
€1.4m
2024 · €6.9m-€5.6m
Balance sheet total
€14.5m
2024 · €12.7m+€1.8m
Largest movements
Assets
- Cash -€5.6m
down €5.6m (-80.3%), from €6.9m to €1.4m
mainly Contributions, distributions and other (-€7.3m) and Receivables within one year (-€4.5m)
- Receivables within one year +€4.5m
up €4.5m (+227%), from €2.0m to €6.5m
of which Other amounts receivable: +€3.7m
- Tangible fixed assets +€1.3m
up €1.3m (+83.6%), from €1.6m to €3.0m
of which Plant, machinery and equipment: +€1.5m
- Stocks and contracts +€962,319
up €962,319 (+46.9%), from €2.1m to €3.0m
- Current investments +€500,000
new in 2025: €500,000
Equity and liabilities
- Reserves -€8.1m
down €8.1m (-90.7%), from €8.9m to €830,716
of which Distributable reserves: -€8.8m
- Other debts +€5.4m
new in 2025: €5.4m
- Contributions +€3.6m
up €3.6m (+538%), from €675,000 to €4.3m
- Trade debts +€818,177
up €818,177 (+35.9%), from €2.3m to €3.1m
Income statement
- Services and other goods -€2.7m
down €2.7m (-33.0%), from €8.0m to €5.4m
- Goods and materials +€2.3m
up €2.3m (+14.8%), from €15.7m to €18.0m
of which Purchases: +€2.8m
- Turnover +€2.3m
up €2.3m (+7.5%), from €30.1m to €32.4m
- Staff costs +€1.9m
up €1.9m (+63.7%), from €2.9m to €4.8m
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.
Result 2024
€2.0m
Turnover
+€2.3m
Other operating income
-€15,215
Goods and materials
-€2.3m
Services and other goods
+€2.7m
Staff costs
-€1.9m
Depreciation
-€277,529
Write-downs
+€120,805
Other operating charges
-€23,530
Other operating items
+€605,821
Financial income
+€110,539
Financial charges
-€40,178
Taxes
-€273,780
Result 2025
€3.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.4m
Investment
-€2.7m
Financing
-€7.3m
Cash 2024
€6.9m
From operations (derived)
+€4.4m
Net result for the year
+€3.0m
Depreciation
+€834,185
Stocks and contracts
-€962,319
Receivables within one year
-€4.5m
Deferred charges and accrued income
-€77,202
Trade debts
+€818,177
Tax, wage and social debts
-€52,871
Other debts
+€5.4m
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€2.2m
Current investments
-€500,000
Financing
-€7.3m
Contributions, distributions and other
-€7.3m
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,744,896 | €14,540,684 | +€1.8m | +14.1% |
| Fixed assets | 21/28 | €1,757,298 | €3,077,707 | +€1.3m | +75.1% |
| Intangible fixed assets | 21 | €149,411 | €124,561 | -€24,850 | -16.6% |
| Tangible fixed assets | 22/27 | €1,607,888 | €2,952,876 | +€1.3m | +83.6% |
| Land and buildings | 22 | €1,033,683 | €918,536 | -€115,148 | -11.1% |
| Plant, machinery and equipment | 23 | €412,387 | €1,905,559 | +€1.5m | +362% |
| Furniture and vehicles | 24 | €161,817 | €128,781 | -€33,036 | -20.4% |
| Financial fixed assets | 28 | - | €270 | +€270 | |
| Other financial fixed assets | 284/8 | - | €270 | +€270 | |
| Amounts receivable and cash guarantees | 285/8 | - | €270 | +€270 | |
| Current assets | 29/58 | €10,987,598 | €11,462,977 | +€475,380 | +4.3% |
| Stocks and contracts in progress | 3 | €2,053,559 | €3,015,877 | +€962,319 | +46.9% |
| Stocks | 30/36 | €2,053,559 | €3,015,877 | +€962,319 | +46.9% |
| Raw materials and consumables | 30/31 | €696,016 | €1,187,467 | +€491,451 | +70.6% |
| Work in progress | 32 | €133,586 | €237,876 | +€104,291 | +78.1% |
| Finished goods | 33 | €801,869 | €1,283,212 | +€481,343 | +60.0% |
| Goods purchased for resale | 34 | €422,087 | €307,321 | -€114,766 | -27.2% |
| Amounts receivable within one year | 40/41 | €1,977,984 | €6,474,672 | +€4.5m | +227% |
| Trade receivables | 40 | €1,753,185 | €2,579,802 | +€826,617 | +47.1% |
| Other amounts receivable | 41 | €224,799 | €3,894,870 | +€3.7m | +1,633% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Other investments | 51/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €6,924,490 | €1,363,660 | -€5.6m | -80.3% |
| Deferred charges and accrued income | 490/1 | €31,565 | €108,768 | +€77,202 | +245% |
| Total equity and liabilities | 10/49 | €12,744,896 | €14,540,684 | +€1.8m | +14.1% |
| Equity | 10/15 | €9,583,039 | €5,203,522 | -€4.4m | -45.7% |
| Contributions | 10/11 | €675,000 | €4,309,206 | +€3.6m | +538% |
| Capital | 10 | €675,000 | €4,309,206 | +€3.6m | +538% |
| Issued capital | 100 | €675,000 | €4,309,206 | +€3.6m | +538% |
| Reserves | 13 | €8,908,039 | €830,716 | -€8.1m | -90.7% |
| Non-distributable reserves | 130/1 | €67,500 | €707,500 | +€640,000 | +948% |
| Legal reserve | 130 | €67,500 | €707,500 | +€640,000 | +948% |
| Tax-exempt reserves | 132 | - | €33,000 | +€33,000 | |
| Distributable reserves | 133 | €8,840,539 | €90,216 | -€8.8m | -99.0% |
| Profit (loss) carried forward | 14 | - | €63,600 | +€63,600 | |
| Provisions and deferred taxes | 16 | €150,000 | €150,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €150,000 | €150,000 | = | 0.0% |
| Environmental obligations | 163 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,011,857 | €9,187,163 | +€6.2m | +205% |
| Amounts payable within one year | 42/48 | €3,011,857 | €9,187,163 | +€6.2m | +205% |
| Trade debts | 44 | €2,281,517 | €3,099,694 | +€818,177 | +35.9% |
| Suppliers | 440/4 | €2,281,517 | €3,099,694 | +€818,177 | +35.9% |
| Taxes, remuneration and social security | 45 | €730,340 | €677,469 | -€52,871 | -7.2% |
| Taxes | 450/3 | €269,372 | €34,816 | -€234,556 | -87.1% |
| Remuneration and social security | 454/9 | €460,968 | €642,653 | +€181,685 | +39.4% |
| Other amounts payable | 47/48 | - | €5,410,000 | +€5.4m | |
| Operating income | 70/76A | €30,313,284 | €33,210,454 | +€2.9m | +9.6% |
| Turnover | 70 | €30,147,707 | €32,412,920 | +€2.3m | +7.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€28,532 | €585,633 | +€614,166 | |
| Other operating income | 74 | €164,454 | €149,239 | -€15,215 | -9.3% |
| Non-recurring operating income | 76A | €29,656 | €62,662 | +€33,006 | +111% |
| Operating charges | 60/66A | €27,422,643 | €29,191,617 | +€1.8m | +6.5% |
| Goods for resale, raw materials and consumables | 60 | €15,701,869 | €18,026,211 | +€2.3m | +14.8% |
| Purchases | 600/8 | €15,563,309 | €18,402,896 | +€2.8m | +18.2% |
| Change in stocks: decrease (increase) | 609 | €138,560 | -€376,685 | -€515,245 | |
| Services and other goods | 61 | €8,034,921 | €5,383,844 | -€2.7m | -33.0% |
| Remuneration, social security and pensions | 62 | €2,940,238 | €4,814,342 | +€1.9m | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €556,657 | €834,185 | +€277,529 | +49.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €120,805 | - | -€120,805 | |
| Other operating charges | 640/8 | €68,154 | €91,684 | +€23,530 | +34.5% |
| Non-recurring operating charges | 66A | - | €41,351 | +€41,351 | |
| Operating profit (loss) | 9901 | €2,890,641 | €4,018,837 | +€1.1m | +39.0% |
| Financial income | 75/76B | €55,677 | €166,216 | +€110,539 | +199% |
| Recurring financial income | 75 | €55,677 | €166,216 | +€110,539 | +199% |
| Income from current assets | 751 | €52,548 | €164,664 | +€112,116 | +213% |
| Other financial income | 752/9 | €3,129 | €1,552 | -€1,577 | -50.4% |
| Financial charges | 65/66B | €162,121 | €202,299 | +€40,178 | +24.8% |
| Recurring financial charges | 65 | €162,121 | €150,087 | -€12,034 | -7.4% |
| Debt charges | 650 | €9,018 | €3,543 | -€5,475 | -60.7% |
| Other financial charges | 652/9 | €153,103 | €146,544 | -€6,559 | -4.3% |
| Non-recurring financial charges | 66B | - | €52,212 | +€52,212 | |
| Profit (loss) for the period before taxes | 9903 | €2,784,197 | €3,982,754 | +€1.2m | +43.0% |
| Income taxes | 67/77 | €742,075 | €1,015,855 | +€273,780 | +36.9% |
| Taxes | 670/3 | €742,075 | €1,015,855 | +€273,780 | +36.9% |
| Profit (loss) for the period | 9904 | €2,042,122 | €2,966,899 | +€924,777 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,042,122 | €2,966,899 | +€924,777 | +45.3% |
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 13 October 2026 via checked.be.