JESCO: 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.
JESCO
Largest movements
- Cash +€140,473
up €140,473 (+86.2%), from €162,992 to €303,465
mainly Receivables within one year (+€124,078) and Stocks and contracts (+€51,479)
- Receivables within one year -€124,078
down €124,078 (-29.3%), from €423,660 to €299,583
of which Trade receivables: -€121,616
- Stocks and contracts -€51,479
down €51,479 (-5.7%), from €903,630 to €852,152
- Reserves -€55,249
down €55,249 (-13.6%), from €405,523 to €350,274
of which Distributable reserves: -€55,249
- Trade debts +€47,493
up €47,493 (+33.9%), from €139,904 to €187,397
- Debts after one year -€22,324
down €22,324 (-52.8%), from €42,311 to €19,987
- Other operating charges +€7,698
up €7,698 (+105.5%), from €7,298 to €14,996
- Staff costs +€6,397
up €6,397 (+6.3%), from €100,989 to €107,386
- Financial income +€3,316
up €3,316 (+19.7%), from €16,862 to €20,178
- Depreciation +€2,759
up €2,759 (+9.7%), from €28,369 to €31,128
- Financial charges -€2,445
down €2,445 (-14.7%), from €16,638 to €14,194
of which Non-recurring financial charges: -€1,856
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 | €1,595,720 | €1,563,978 | -€31,742 | -2.0% |
| Fixed assets | 21/28 | €102,728 | €105,309 | +€2,581 | +2.5% |
| Intangible fixed assets | 21 | €8,897 | €23,560 | +€14,663 | +164.8% |
| Tangible fixed assets | 22/27 | €93,832 | €81,749 | -€12,083 | -12.9% |
| Land and buildings | 22 | €14,726 | €13,895 | -€831 | -5.6% |
| Plant, machinery and equipment | 23 | €17,801 | €14,364 | -€3,437 | -19.3% |
| Furniture and vehicles | 24 | €61,304 | €53,490 | -€7,814 | -12.7% |
| Current assets | 29/58 | €1,492,991 | €1,458,669 | -€34,322 | -2.3% |
| Stocks and contracts in progress | 3 | €903,630 | €852,152 | -€51,479 | -5.7% |
| Stocks | 30/36 | €903,630 | €852,152 | -€51,479 | -5.7% |
| Amounts receivable within one year | 40/41 | €423,660 | €299,583 | -€124,078 | -29.3% |
| Trade receivables | 40 | €421,199 | €299,583 | -€121,616 | -28.9% |
| Other amounts receivable | 41 | €2,461 | - | -€2,461 | |
| Cash at bank and in hand | 54/58 | €162,992 | €303,465 | +€140,473 | +86.2% |
| Deferred charges and accrued income | 490/1 | €2,709 | €3,470 | +€761 | +28.1% |
| Total equity and liabilities | 10/49 | €1,595,720 | €1,563,978 | -€31,742 | -2.0% |
| Equity | 10/15 | €477,770 | €422,520 | -€55,249 | -11.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €10,247 | €10,247 | = | 0.0% |
| Reserves | 13 | €405,523 | €350,274 | -€55,249 | -13.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €399,323 | €344,074 | -€55,249 | -13.8% |
| Amounts payable | 17/49 | €1,117,950 | €1,141,457 | +€23,508 | +2.1% |
| Amounts payable after more than one year | 17 | €42,311 | €19,987 | -€22,324 | -52.8% |
| Financial debts | 170/4 | €42,311 | €19,987 | -€22,324 | -52.8% |
| Amounts payable within one year | 42/48 | €1,075,639 | €1,121,470 | +€45,832 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €21,715 | €22,324 | +€609 | +2.8% |
| Trade debts | 44 | €139,904 | €187,397 | +€47,493 | +33.9% |
| Suppliers | 440/4 | €139,904 | €187,397 | +€47,493 | +33.9% |
| Taxes, remuneration and social security | 45 | €19,986 | €24,225 | +€4,240 | +21.2% |
| Taxes | 450/3 | €7,678 | €11,073 | +€3,394 | +44.2% |
| Remuneration and social security | 454/9 | €12,307 | €13,153 | +€845 | +6.9% |
| Other amounts payable | 47/48 | €894,034 | €887,524 | -€6,510 | -0.7% |
| Remuneration, social security and pensions | 62 | €100,989 | €107,386 | +€6,397 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,369 | €31,128 | +€2,759 | +9.7% |
| Other operating charges | 640/8 | €7,298 | €14,996 | +€7,698 | +105.5% |
| Gross operating margin | 9900 | €93,897 | €92,276 | -€1,621 | -1.7% |
| Operating profit (loss) | 9901 | -€42,759 | -€61,233 | -€18,475 | -43.2% |
| Financial income | 75/76B | €16,862 | €20,178 | +€3,316 | +19.7% |
| Recurring financial income | 75 | €16,862 | €20,178 | +€3,316 | +19.7% |
| Financial charges | 65/66B | €16,638 | €14,194 | -€2,445 | -14.7% |
| Recurring financial charges | 65 | €14,433 | €13,844 | -€589 | -4.1% |
| Non-recurring financial charges | 66B | €2,206 | €350 | -€1,856 | -84.1% |
| Profit (loss) for the period before taxes | 9903 | -€42,535 | -€55,249 | -€12,714 | -29.9% |
| Profit (loss) for the period | 9904 | -€42,535 | -€55,249 | -€12,714 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,535 | -€55,249 | -€12,714 | -29.9% |
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 10 October 2026 via checked.be.