JFA & CO: 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.
JFA & CO
Largest movements
- Tangible fixed assets +€214,473
up €214,473 (+119%), from €179,568 to €394,041
of which Plant, machinery and equipment: +€205,650
- Intangible fixed assets +€61,444
up €61,444 (+106%), from €58,157 to €119,601
- Receivables within one year +€44,654
up €44,654 (+178%), from €25,053 to €69,707
of which Other amounts receivable: +€26,586
- Cash +€32,146
up €32,146 (+96.7%), from €33,254 to €65,400
mainly Other debts (+€230,778) and Trade debts (+€82,233)
- Deferred charges and accrued income +€27,476
up €27,476 (+15,264%), from €180 to €27,656
- Other debts +€230,778
up €230,778 (+84.7%), from €272,408 to €503,186
- Trade debts +€82,233
up €82,233 (+322%), from €25,554 to €107,787
- Debts after one year +€25,793
new in 2025: €25,793
- Reserves +€17,999
up €17,999 (+229%), from €7,858 to €25,857
- Tax, wage and social debts +€15,825
up €15,825 (+153%), from €10,372 to €26,197
of which Remuneration and social security: +€11,818
- Gross operating margin +€199,583
up €199,583 (+187%), from €106,456 to €306,039
- Staff costs +€116,859
up €116,859 (+247%), from €47,283 to €164,141
- Depreciation +€42,630
up €42,630 (+163%), from €26,114 to €68,744
- Other operating charges +€21,583
up €21,583 (+161%), from €13,420 to €35,003
- Financial charges +€8,138
up €8,138 (+159%), from €5,106 to €13,244
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.
Derived cash bridge
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 | €316,191 | €702,791 | +€386,600 | +122% |
| Formation expenses | 20 | €11,160 | €16,965 | +€5,805 | +52.0% |
| Fixed assets | 21/28 | €246,545 | €523,062 | +€276,518 | +112% |
| Intangible fixed assets | 21 | €58,157 | €119,601 | +€61,444 | +106% |
| Tangible fixed assets | 22/27 | €179,568 | €394,041 | +€214,473 | +119% |
| Plant, machinery and equipment | 23 | €178,461 | €384,112 | +€205,650 | +115% |
| Furniture and vehicles | 24 | €1,107 | €703 | -€404 | -36.5% |
| Other tangible fixed assets | 26 | - | €9,227 | +€9,227 | |
| Financial fixed assets | 28 | €8,820 | €9,420 | +€600 | +6.8% |
| Current assets | 29/58 | €58,487 | €162,764 | +€104,277 | +178% |
| Amounts receivable within one year | 40/41 | €25,053 | €69,707 | +€44,654 | +178% |
| Trade receivables | 40 | €11,715 | €29,784 | +€18,068 | +154% |
| Other amounts receivable | 41 | €13,338 | €39,924 | +€26,586 | +199% |
| Cash at bank and in hand | 54/58 | €33,254 | €65,400 | +€32,146 | +96.7% |
| Deferred charges and accrued income | 490/1 | €180 | €27,656 | +€27,476 | +15,264% |
| Total equity and liabilities | 10/49 | €316,191 | €702,791 | +€386,600 | +122% |
| Equity | 10/15 | €7,858 | €25,857 | +€17,999 | +229% |
| Reserves | 13 | €7,858 | €25,857 | +€17,999 | +229% |
| Distributable reserves | 133 | €7,858 | €25,857 | +€17,999 | +229% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €308,334 | €676,934 | +€368,601 | +120% |
| Amounts payable after more than one year | 17 | - | €25,793 | +€25,793 | |
| Financial debts | 170/4 | - | €25,793 | +€25,793 | |
| Amounts payable within one year | 42/48 | €308,334 | €650,998 | +€342,664 | +111% |
| Current portion of amounts payable after more than one year | 42 | - | €13,369 | +€13,369 | |
| Financial debts | 43 | - | €459 | +€459 | |
| Credit institutions | 430/8 | - | €459 | +€459 | |
| Trade debts | 44 | €25,554 | €107,787 | +€82,233 | +322% |
| Suppliers | 440/4 | €25,554 | €107,787 | +€82,233 | +322% |
| Taxes, remuneration and social security | 45 | €10,372 | €26,197 | +€15,825 | +153% |
| Taxes | 450/3 | €6,115 | €10,122 | +€4,007 | +65.5% |
| Remuneration and social security | 454/9 | €4,256 | €16,075 | +€11,818 | +278% |
| Other amounts payable | 47/48 | €272,408 | €503,186 | +€230,778 | +84.7% |
| Accrued charges and deferred income | 492/3 | - | €144 | +€144 | |
| Remuneration, social security and pensions | 62 | €47,283 | €164,141 | +€116,859 | +247% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,114 | €68,744 | +€42,630 | +163% |
| Other operating charges | 640/8 | €13,420 | €35,003 | +€21,583 | +161% |
| Gross operating margin | 9900 | €106,456 | €306,039 | +€199,583 | +187% |
| Operating profit (loss) | 9901 | €19,639 | €38,150 | +€18,511 | +94.3% |
| Financial income | 75/76B | €0 | €8 | +€8 | +15,240% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +15,240% |
| Financial charges | 65/66B | €5,106 | €13,244 | +€8,138 | +159% |
| Recurring financial charges | 65 | €5,106 | €13,244 | +€8,138 | +159% |
| Profit (loss) for the period before taxes | 9903 | €14,533 | €24,914 | +€10,381 | +71.4% |
| Income taxes | 67/77 | €3,207 | €6,915 | +€3,708 | +116% |
| Profit (loss) for the period | 9904 | €11,326 | €17,999 | +€6,672 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,326 | €17,999 | +€6,672 | +58.9% |
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 20 October 2026 via checked.be.