JFA: 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.
JFA
Largest movements
- Intangible fixed assets -€10,840
down €10,840 (-36.6%), from €29,654 to €18,814
- Stocks and contracts +€8,894
up €8,894 (+47.4%), from €18,768 to €27,662
- Cash +€6,538
up €6,538 (+977.3%), from €669 to €7,207
mainly Other debts (+€28,166) and Depreciation (+€16,851)
- Receivables within one year -€5,218
down €5,218 (-30.5%), from €17,090 to €11,872
of which Trade receivables: -€4,581
- Tangible fixed assets -€3,842
down €3,842 (-45.7%), from €8,413 to €4,572
of which Furniture and vehicles: -€2,194
- Other debts +€28,166
up €28,166 (+241.7%), from €11,655 to €39,820
- Debts after one year -€16,214
down €16,214 (-10.7%), from €151,993 to €135,779
- Profit (loss) carried forward -€9,051
down €9,051 (-6.1%), from -€149,500 to -€158,551
- Trade debts -€8,938
down €8,938 (-60.3%), from €14,813 to €5,874
- Tax, wage and social debts +€2,173
up €2,173 (+134.7%), from €1,613 to €3,787
- Gross operating margin +€27,842
up €27,842, from -€15,886 to €11,956
- Depreciation -€3,014
down €3,014 (-15.2%), from €19,865 to €16,851
- Other operating charges -€2,331
down €2,331 (-61.6%), from €3,781 to €1,451
- Financial charges -€1,612
down €1,612 (-40.3%), from €4,003 to €2,391
- Staff costs -€1,041
down €1,041 (-100.0%), from €1,041 to €0
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 | €74,624 | €70,881 | -€3,742 | -5.0% |
| Fixed assets | 21/28 | €38,067 | €23,385 | -€14,682 | -38.6% |
| Intangible fixed assets | 21 | €29,654 | €18,814 | -€10,840 | -36.6% |
| Tangible fixed assets | 22/27 | €8,413 | €4,572 | -€3,842 | -45.7% |
| Plant, machinery and equipment | 23 | €689 | €22 | -€667 | -96.9% |
| Furniture and vehicles | 24 | €3,119 | €925 | -€2,194 | -70.3% |
| Other tangible fixed assets | 26 | €4,605 | €3,625 | -€980 | -21.3% |
| Current assets | 29/58 | €36,556 | €47,496 | +€10,939 | +29.9% |
| Stocks and contracts in progress | 3 | €18,768 | €27,662 | +€8,894 | +47.4% |
| Stocks | 30/36 | €18,768 | €27,662 | +€8,894 | +47.4% |
| Amounts receivable within one year | 40/41 | €17,090 | €11,872 | -€5,218 | -30.5% |
| Trade receivables | 40 | €16,453 | €11,872 | -€4,581 | -27.8% |
| Other amounts receivable | 41 | €636 | €0 | -€636 | -100.0% |
| Cash at bank and in hand | 54/58 | €669 | €7,207 | +€6,538 | +977.3% |
| Deferred charges and accrued income | 490/1 | €30 | €754 | +€725 | +2437.6% |
| Total equity and liabilities | 10/49 | €74,624 | €70,881 | -€3,742 | -5.0% |
| Equity | 10/15 | -€129,500 | -€138,551 | -€9,051 | -7.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€149,500 | -€158,551 | -€9,051 | -6.1% |
| Amounts payable | 17/49 | €204,124 | €209,432 | +€5,308 | +2.6% |
| Amounts payable after more than one year | 17 | €151,993 | €135,779 | -€16,214 | -10.7% |
| Financial debts | 170/4 | €151,993 | €135,779 | -€16,214 | -10.7% |
| Amounts payable within one year | 42/48 | €52,131 | €73,652 | +€21,522 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €24,050 | €24,171 | +€121 | +0.5% |
| Trade debts | 44 | €14,813 | €5,874 | -€8,938 | -60.3% |
| Suppliers | 440/4 | €14,813 | €5,874 | -€8,938 | -60.3% |
| Taxes, remuneration and social security | 45 | €1,613 | €3,787 | +€2,173 | +134.7% |
| Taxes | 450/3 | €1,613 | €3,787 | +€2,173 | +134.7% |
| Other amounts payable | 47/48 | €11,655 | €39,820 | +€28,166 | +241.7% |
| Remuneration, social security and pensions | 62 | €1,041 | €0 | -€1,041 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,865 | €16,851 | -€3,014 | -15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,781 | €1,451 | -€2,331 | -61.6% |
| Gross operating margin | 9900 | -€15,886 | €11,956 | +€27,842 | |
| Operating profit (loss) | 9901 | -€40,573 | -€6,346 | +€34,227 | +84.4% |
| Financial income | 75/76B | €0 | €15 | +€14 | +4065.7% |
| Recurring financial income | 75 | €0 | €15 | +€14 | +4065.7% |
| Financial charges | 65/66B | €4,003 | €2,391 | -€1,612 | -40.3% |
| Recurring financial charges | 65 | €4,003 | €2,391 | -€1,612 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | -€44,575 | -€8,721 | +€35,854 | +80.4% |
| Income taxes | 67/77 | €450 | €329 | -€121 | -26.9% |
| Profit (loss) for the period | 9904 | -€45,025 | -€9,051 | +€35,975 | +79.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,025 | -€9,051 | +€35,975 | +79.9% |
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 4 October 2026 via checked.be.