JF BAT: 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.
JF BAT
Largest movements
- Receivables within one year +€280,484
up €280,484 (+106.4%), from €263,610 to €544,094
of which Trade receivables: +€493,469
- Cash +€223,401
up €223,401 (+159.7%), from €139,929 to €363,330
mainly Net result for the year (+€341,733) and Short-term financial debts (+€200,000)
- Tangible fixed assets -€144,752
down €144,752 (-10.0%), from €1.5m to €1.3m
of which Land and buildings: -€75,194
- Stocks and contracts -€24,983
down €24,983 (-17.9%), from €139,673 to €114,690
- Profit (loss) carried forward +€341,733
up €341,733 (+105.8%), from €322,857 to €664,589
- Investment grants -€210,635
down €210,635 (-100.0%), from €210,635 to €0
- Short-term financial debts +€200,000
up €200,000, from €0 to €200,000
- Debts after one year -€109,072
down €109,072 (-14.1%), from €772,470 to €663,398
- Tax, wage and social debts +€94,255
up €94,255 (+59.2%), from €159,202 to €253,457
of which Taxes: +€97,297
- Gross operating margin +€325,147
up €325,147 (+31.4%), from €1.0m to €1.4m
- Taxes +€91,980
up €91,980 (+298.0%), from €30,861 to €122,841
- Purchases and services +€31,201
up €31,201 (+3.2%), from €981,348 to €1.0m
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 | €1,996,971 | €2,338,882 | +€341,910 | +17.1% |
| Fixed assets | 21/28 | €1,451,476 | €1,306,724 | -€144,752 | -10.0% |
| Tangible fixed assets | 22/27 | €1,451,476 | €1,306,724 | -€144,752 | -10.0% |
| Land and buildings | 22 | €1,216,701 | €1,141,507 | -€75,194 | -6.2% |
| Plant, machinery and equipment | 23 | €232,501 | €165,175 | -€67,326 | -29.0% |
| Furniture and vehicles | 24 | €2,274 | €41 | -€2,233 | -98.2% |
| Current assets | 29/58 | €545,495 | €1,032,158 | +€486,662 | +89.2% |
| Stocks and contracts in progress | 3 | €139,673 | €114,690 | -€24,983 | -17.9% |
| Stocks | 30/36 | €139,673 | €114,690 | -€24,983 | -17.9% |
| Amounts receivable within one year | 40/41 | €263,610 | €544,094 | +€280,484 | +106.4% |
| Trade receivables | 40 | €40,331 | €533,801 | +€493,469 | +1223.5% |
| Other amounts receivable | 41 | €223,279 | €10,293 | -€212,985 | -95.4% |
| Current investments | 50/53 | €2,111 | €2,126 | +€15 | +0.7% |
| Cash at bank and in hand | 54/58 | €139,929 | €363,330 | +€223,401 | +159.7% |
| Deferred charges and accrued income | 490/1 | €172 | €7,917 | +€7,745 | +4497.9% |
| Total equity and liabilities | 10/49 | €1,996,971 | €2,338,882 | +€341,910 | +17.1% |
| Equity | 10/15 | €801,452 | €932,549 | +€131,097 | +16.4% |
| Contributions | 10/11 | €266,100 | €266,100 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €322,857 | €664,589 | +€341,733 | +105.8% |
| Investment grants | 15 | €210,635 | €0 | -€210,635 | -100.0% |
| Amounts payable | 17/49 | €1,195,519 | €1,406,333 | +€210,813 | +17.6% |
| Amounts payable after more than one year | 17 | €772,470 | €663,398 | -€109,072 | -14.1% |
| Financial debts | 170/4 | €772,470 | €663,398 | -€109,072 | -14.1% |
| Amounts payable within one year | 42/48 | €423,049 | €742,337 | +€319,287 | +75.5% |
| Current portion of amounts payable after more than one year | 42 | €161,322 | €120,688 | -€40,633 | -25.2% |
| Financial debts | 43 | €0 | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | €0 | €200,000 | +€200,000 | |
| Trade debts | 44 | €68,309 | €90,252 | +€21,944 | +32.1% |
| Suppliers | 440/4 | €68,309 | €90,252 | +€21,944 | +32.1% |
| Taxes, remuneration and social security | 45 | €159,202 | €253,457 | +€94,255 | +59.2% |
| Taxes | 450/3 | €72,932 | €170,229 | +€97,297 | +133.4% |
| Remuneration and social security | 454/9 | €86,270 | €83,229 | -€3,042 | -3.5% |
| Other amounts payable | 47/48 | €34,217 | €77,939 | +€43,722 | +127.8% |
| Accrued charges and deferred income | 492/3 | - | €598 | +€598 | |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €981,348 | €1,012,549 | +€31,201 | +3.2% |
| Remuneration, social security and pensions | 62 | €694,241 | €684,665 | -€9,576 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,908 | €155,952 | -€5,956 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €29,894 | €30,973 | +€1,079 | +3.6% |
| Gross operating margin | 9900 | €1,035,268 | €1,360,414 | +€325,147 | +31.4% |
| Operating profit (loss) | 9901 | €149,224 | €483,824 | +€334,600 | +224.2% |
| Financial income | 75/76B | €982 | €1,764 | +€782 | +79.6% |
| Recurring financial income | 75 | €982 | €1,764 | +€782 | +79.6% |
| Financial charges | 65/66B | €28,806 | €21,015 | -€7,792 | -27.0% |
| Recurring financial charges | 65 | €28,806 | €21,015 | -€7,792 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €121,400 | €464,574 | +€343,174 | +282.7% |
| Income taxes | 67/77 | €30,861 | €122,841 | +€91,980 | +298.0% |
| Profit (loss) for the period | 9904 | €90,538 | €341,733 | +€251,194 | +277.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,538 | €341,733 | +€251,194 | +277.4% |
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 8 October 2026 via checked.be.