JESTEL: 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.
JESTEL
Largest movements
- Cash -€66,994
down €66,994 (-77.3%), from €86,653 to €19,659
mainly Investment in fixed assets (net) (-€39,490) and Debts after one year (-€28,299)
- Stocks and contracts +€11,863
new in 2025: €11,863
- Tangible fixed assets -€8,057
down €8,057 (-6.5%), from €123,882 to €115,825
of which Leasing and similar rights: -€25,400
- Deferred charges and accrued income +€5,082
new in 2025: €5,082
- Debts after one year -€28,299
down €28,299 (-65.9%), from €42,972 to €14,673
- Tax, wage and social debts -€16,966
down €16,966 (-57.9%), from €29,307 to €12,341
of which Taxes: -€17,035
- Profit (loss) carried forward -€16,893
down €16,893 (-12.8%), from €132,430 to €115,537
- Trade debts +€7,326
up €7,326 (+71.3%), from €10,282 to €17,608
- Short-term financial debts -€4,448
down €4,448 (-62.4%), from €7,131 to €2,683
- Gross operating margin -€82,615
down €82,615 (-40.9%), from €201,979 to €119,364
- Staff costs -€11,955
down €11,955 (-12.1%), from €98,495 to €86,541
- Depreciation -€6,538
down €6,538 (-12.1%), from €54,086 to €47,547
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 | €269,107 | €210,459 | -€58,648 | -21.8% |
| Fixed assets | 21/28 | €123,882 | €115,825 | -€8,057 | -6.5% |
| Tangible fixed assets | 22/27 | €123,882 | €115,825 | -€8,057 | -6.5% |
| Plant, machinery and equipment | 23 | €9,315 | €5,536 | -€3,779 | -40.6% |
| Furniture and vehicles | 24 | €32,836 | €19,379 | -€13,457 | -41.0% |
| Leasing and similar rights | 25 | €62,839 | €37,439 | -€25,400 | -40.4% |
| Other tangible fixed assets | 26 | €18,892 | €53,471 | +€34,579 | +183.0% |
| Current assets | 29/58 | €145,225 | €94,634 | -€50,591 | -34.8% |
| Stocks and contracts in progress | 3 | - | €11,863 | +€11,863 | |
| Stocks | 30/36 | - | €11,863 | +€11,863 | |
| Amounts receivable within one year | 40/41 | €58,571 | €58,029 | -€542 | -0.9% |
| Trade receivables | 40 | €51,065 | €53,398 | +€2,334 | +4.6% |
| Other amounts receivable | 41 | €7,507 | €4,631 | -€2,876 | -38.3% |
| Cash at bank and in hand | 54/58 | €86,653 | €19,659 | -€66,994 | -77.3% |
| Deferred charges and accrued income | 490/1 | - | €5,082 | +€5,082 | |
| Total equity and liabilities | 10/49 | €269,107 | €210,459 | -€58,648 | -21.8% |
| Equity | 10/15 | €154,430 | €137,537 | -€16,893 | -10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,430 | €115,537 | -€16,893 | -12.8% |
| Amounts payable | 17/49 | €114,677 | €72,921 | -€41,756 | -36.4% |
| Amounts payable after more than one year | 17 | €42,972 | €14,673 | -€28,299 | -65.9% |
| Financial debts | 170/4 | €42,972 | €14,673 | -€28,299 | -65.9% |
| Amounts payable within one year | 42/48 | €71,705 | €58,248 | -€13,457 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €24,984 | €25,616 | +€632 | +2.5% |
| Financial debts | 43 | €7,131 | €2,683 | -€4,448 | -62.4% |
| Credit institutions | 430/8 | €7,131 | €2,683 | -€4,448 | -62.4% |
| Trade debts | 44 | €10,282 | €17,608 | +€7,326 | +71.3% |
| Suppliers | 440/4 | €10,282 | €17,608 | +€7,326 | +71.3% |
| Taxes, remuneration and social security | 45 | €29,307 | €12,341 | -€16,966 | -57.9% |
| Taxes | 450/3 | €27,274 | €10,240 | -€17,035 | -62.5% |
| Remuneration and social security | 454/9 | €2,033 | €2,102 | +€68 | +3.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €43,638 | €16,800 | -€26,838 | -61.5% |
| Remuneration, social security and pensions | 62 | €98,495 | €86,541 | -€11,955 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,086 | €47,547 | -€6,538 | -12.1% |
| Other operating charges | 640/8 | €698 | - | -€698 | |
| Non-recurring operating charges | 66A | €30,468 | - | -€30,468 | |
| Gross operating margin | 9900 | €201,979 | €119,364 | -€82,615 | -40.9% |
| Operating profit (loss) | 9901 | €18,231 | -€14,725 | -€32,956 | |
| Financial income | 75/76B | €442 | €201 | -€240 | -54.4% |
| Recurring financial income | 75 | €442 | €201 | -€240 | -54.4% |
| Financial charges | 65/66B | €2,733 | €2,107 | -€626 | -22.9% |
| Recurring financial charges | 65 | €2,733 | €2,107 | -€626 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €15,939 | -€16,630 | -€32,570 | |
| Income taxes | 67/77 | €259 | €262 | +€3 | +1.2% |
| Profit (loss) for the period | 9904 | €15,680 | -€16,893 | -€32,573 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,680 | -€16,893 | -€32,573 |
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 3 October 2026 via checked.be.