JETELO: 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.
JETELO
Largest movements
- Cash +€34,151
up €34,151 (+86.1%), from €39,644 to €73,795
mainly Net result for the year (+€34,263) and Depreciation (+€11,238)
- Tangible fixed assets -€8,836
down €8,836 (-15.7%), from €56,240 to €47,404
of which Plant, machinery and equipment: -€6,583
- Receivables within one year -€8,183
down €8,183 (-18.2%), from €44,897 to €36,714
of which Other amounts receivable: -€4,217
- Deferred charges and accrued income -€2,393
down €2,393 (-56.9%), from €4,207 to €1,814
- Profit (loss) carried forward +€34,263
up €34,263 (+225.4%), from €15,203 to €49,466
- Trade debts -€17,365
down €17,365 (-35.6%), from €48,711 to €31,346
- Debts after one year -€7,326
down €7,326 (-21.9%), from €33,524 to €26,198
- Gross operating margin +€59,456
up €59,456 (+180.0%), from €33,040 to €92,497
- Staff costs +€15,296
up €15,296 (+135.9%), from €11,258 to €26,553
- Taxes +€11,132
up €11,132 (+1859.8%), from €599 to €11,731
- Other operating charges +€1,256
up €1,256 (+28.2%), from €4,449 to €5,705
- Depreciation +€1,100
up €1,100 (+10.9%), from €10,138 to €11,238
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 | €173,978 | €185,979 | +€12,001 | +6.9% |
| Fixed assets | 21/28 | €57,240 | €47,404 | -€9,836 | -17.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €56,240 | €47,404 | -€8,836 | -15.7% |
| Land and buildings | 22 | €4,713 | €4,462 | -€251 | -5.3% |
| Plant, machinery and equipment | 23 | €45,446 | €38,863 | -€6,583 | -14.5% |
| Furniture and vehicles | 24 | €6,081 | €4,079 | -€2,002 | -32.9% |
| Financial fixed assets | 28 | €1,000 | €0 | -€1,000 | -100.0% |
| Current assets | 29/58 | €116,738 | €138,575 | +€21,837 | +18.7% |
| Stocks and contracts in progress | 3 | €27,990 | €26,252 | -€1,739 | -6.2% |
| Stocks | 30/36 | €27,990 | €26,252 | -€1,739 | -6.2% |
| Amounts receivable within one year | 40/41 | €44,897 | €36,714 | -€8,183 | -18.2% |
| Trade receivables | 40 | €30,606 | €26,639 | -€3,966 | -13.0% |
| Other amounts receivable | 41 | €14,291 | €10,075 | -€4,217 | -29.5% |
| Cash at bank and in hand | 54/58 | €39,644 | €73,795 | +€34,151 | +86.1% |
| Deferred charges and accrued income | 490/1 | €4,207 | €1,814 | -€2,393 | -56.9% |
| Total equity and liabilities | 10/49 | €173,978 | €185,979 | +€12,001 | +6.9% |
| Equity | 10/15 | €69,739 | €104,003 | +€34,263 | +49.1% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,203 | €49,466 | +€34,263 | +225.4% |
| Amounts payable | 17/49 | €104,239 | €81,976 | -€22,263 | -21.4% |
| Amounts payable after more than one year | 17 | €33,524 | €26,198 | -€7,326 | -21.9% |
| Financial debts | 170/4 | €33,524 | €26,198 | -€7,326 | -21.9% |
| Amounts payable within one year | 42/48 | €70,339 | €55,379 | -€14,961 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €7,023 | €7,326 | +€303 | +4.3% |
| Trade debts | 44 | €48,711 | €31,346 | -€17,365 | -35.6% |
| Suppliers | 440/4 | €48,711 | €31,346 | -€17,365 | -35.6% |
| Taxes, remuneration and social security | 45 | €6,471 | €6,760 | +€289 | +4.5% |
| Taxes | 450/3 | €3,865 | €1,979 | -€1,886 | -48.8% |
| Remuneration and social security | 454/9 | €2,606 | €4,781 | +€2,175 | +83.5% |
| Other amounts payable | 47/48 | €8,134 | €9,946 | +€1,812 | +22.3% |
| Accrued charges and deferred income | 492/3 | €376 | €400 | +€24 | +6.3% |
| Remuneration, social security and pensions | 62 | €11,258 | €26,553 | +€15,296 | +135.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,138 | €11,238 | +€1,100 | +10.9% |
| Other operating charges | 640/8 | €4,449 | €5,705 | +€1,256 | +28.2% |
| Gross operating margin | 9900 | €33,040 | €92,497 | +€59,456 | +180.0% |
| Operating profit (loss) | 9901 | €7,196 | €49,001 | +€41,805 | +581.0% |
| Financial income | 75/76B | €102 | €29 | -€73 | -71.4% |
| Recurring financial income | 75 | €102 | €29 | -€73 | -71.4% |
| Financial charges | 65/66B | €3,335 | €3,036 | -€299 | -9.0% |
| Recurring financial charges | 65 | €3,335 | €3,036 | -€299 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €3,963 | €45,994 | +€42,031 | +1060.6% |
| Income taxes | 67/77 | €599 | €11,731 | +€11,132 | +1859.8% |
| Profit (loss) for the period | 9904 | €3,364 | €34,263 | +€30,899 | +918.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,364 | €34,263 | +€30,899 | +918.4% |
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 30 September 2026 via checked.be.