JERPA: 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.
JERPA
Largest movements
- Receivables within one year -€29,964
no longer reported in 2025 (was €29,964)
of which Trade receivables: -€29,635
- Cash +€13,763
up €13,763 (+76.4%), from €18,010 to €31,773
mainly Receivables within one year (+€29,964) and Net result for the year (+€18,832)
- Tangible fixed assets -€13,502
down €13,502 (-6.3%), from €212,734 to €199,232
of which Land and buildings: -€10,717
- Other debts -€45,872
down €45,872 (-62.3%), from €73,666 to €27,794
- Reserves +€18,832
up €18,832 (+33.2%), from €56,691 to €75,523
- Debts after one year -€8,604
down €8,604 (-12.0%), from €71,567 to €62,963
- Trade debts +€3,009
up €3,009 (+15.1%), from €19,966 to €22,974
- Gross operating margin +€9,076
up €9,076 (+22.3%), from €40,675 to €49,752
- Taxes +€1,798
up €1,798 (+21.4%), from €8,411 to €10,209
- Depreciation +€1,792
up €1,792 (+15.3%), from €11,710 to €13,502
- Financial charges +€1,457
up €1,457 (+32.1%), from €4,537 to €5,994
- Financial income +€879
up €879 (+6,057%), from €15 to €893
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 | €266,403 | €236,506 | -€29,897 | -11.2% |
| Fixed assets | 21/28 | €212,734 | €199,232 | -€13,502 | -6.3% |
| Tangible fixed assets | 22/27 | €212,734 | €199,232 | -€13,502 | -6.3% |
| Land and buildings | 22 | €207,244 | €196,528 | -€10,717 | -5.2% |
| Plant, machinery and equipment | 23 | €4,035 | €1,809 | -€2,226 | -55.2% |
| Furniture and vehicles | 24 | €1,454 | €895 | -€560 | -38.5% |
| Current assets | 29/58 | €53,669 | €37,274 | -€16,395 | -30.5% |
| Stocks and contracts in progress | 3 | €5,695 | €5,501 | -€194 | -3.4% |
| Stocks | 30/36 | €5,695 | €5,501 | -€194 | -3.4% |
| Amounts receivable within one year | 40/41 | €29,964 | - | -€29,964 | |
| Trade receivables | 40 | €29,635 | - | -€29,635 | |
| Other amounts receivable | 41 | €329 | - | -€329 | |
| Cash at bank and in hand | 54/58 | €18,010 | €31,773 | +€13,763 | +76.4% |
| Total equity and liabilities | 10/49 | €266,403 | €236,506 | -€29,897 | -11.2% |
| Equity | 10/15 | €75,291 | €94,123 | +€18,832 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,691 | €75,523 | +€18,832 | +33.2% |
| Distributable reserves | 133 | €56,691 | €75,523 | +€18,832 | +33.2% |
| Amounts payable | 17/49 | €191,112 | €142,383 | -€48,729 | -25.5% |
| Amounts payable after more than one year | 17 | €71,567 | €62,963 | -€8,604 | -12.0% |
| Financial debts | 170/4 | €71,567 | €62,963 | -€8,604 | -12.0% |
| Amounts payable within one year | 42/48 | €119,545 | €79,420 | -€40,126 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €10,901 | €12,687 | +€1,786 | +16.4% |
| Financial debts | 43 | €3,322 | €2,675 | -€647 | -19.5% |
| Credit institutions | 430/8 | €3,322 | €2,675 | -€647 | -19.5% |
| Trade debts | 44 | €19,966 | €22,974 | +€3,009 | +15.1% |
| Suppliers | 440/4 | €19,966 | €22,974 | +€3,009 | +15.1% |
| Taxes, remuneration and social security | 45 | €11,691 | €13,290 | +€1,599 | +13.7% |
| Taxes | 450/3 | €11,691 | €13,290 | +€1,599 | +13.7% |
| Other amounts payable | 47/48 | €73,666 | €27,794 | -€45,872 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,710 | €13,502 | +€1,792 | +15.3% |
| Other operating charges | 640/8 | €2,377 | €2,108 | -€269 | -11.3% |
| Gross operating margin | 9900 | €40,675 | €49,752 | +€9,076 | +22.3% |
| Operating profit (loss) | 9901 | €26,588 | €34,141 | +€7,553 | +28.4% |
| Financial income | 75/76B | €15 | €893 | +€879 | +6,057% |
| Recurring financial income | 75 | €15 | €893 | +€879 | +6,057% |
| Financial charges | 65/66B | €4,537 | €5,994 | +€1,457 | +32.1% |
| Recurring financial charges | 65 | €4,537 | €5,994 | +€1,457 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €22,066 | €29,041 | +€6,975 | +31.6% |
| Income taxes | 67/77 | €8,411 | €10,209 | +€1,798 | +21.4% |
| Profit (loss) for the period | 9904 | €13,654 | €18,832 | +€5,177 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,654 | €18,832 | +€5,177 | +37.9% |
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 25 October 2026 via checked.be.