JFB2: 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.
JFB2
Largest movements
- Tangible fixed assets +€141,797
up €141,797 (+12.0%), from €1.2m to €1.3m
of which Land and buildings: +€140,753
- Receivables within one year +€77,879
up €77,879 (+20.3%), from €383,820 to €461,699
of which Other amounts receivable: +€86,032
- Cash -€64,609
down €64,609 (-59.9%), from €107,903 to €43,294
mainly Contributions, distributions and other (-€219,051) and Investment in fixed assets (net) (-€141,802)
- Other debts +€272,089
up €272,089, from €0 to €272,089
- Reserves -€219,051
down €219,051 (-27.6%), from €792,734 to €573,683
- Profit (loss) carried forward +€194,501
up €194,501 (+53.0%), from €367,297 to €561,798
- Debts after one year -€89,073
down €89,073 (-15.0%), from €593,678 to €504,605
- Gross operating margin -€75,696
down €75,696, from €73,946 to -€1,749
- Financial income -€59,723
down €59,723 (-19.7%), from €303,477 to €243,755
- Taxes -€29,593
down €29,593 (-94.4%), from €31,350 to €1,757
- Other operating charges +€9,875
up €9,875 (+46.6%), from €21,184 to €31,059
- Financial charges +€2,322
up €2,322 (+18.8%), from €12,361 to €14,683
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 | €1,916,095 | €2,071,162 | +€155,067 | +8.1% |
| Fixed assets | 21/28 | €1,424,372 | €1,566,169 | +€141,797 | +10.0% |
| Tangible fixed assets | 22/27 | €1,185,739 | €1,327,536 | +€141,797 | +12.0% |
| Land and buildings | 22 | €1,178,370 | €1,319,123 | +€140,753 | +11.9% |
| Furniture and vehicles | 24 | €7,369 | €8,413 | +€1,044 | +14.2% |
| Financial fixed assets | 28 | €238,633 | €238,633 | = | 0.0% |
| Current assets | 29/58 | €491,723 | €504,993 | +€13,270 | +2.7% |
| Amounts receivable within one year | 40/41 | €383,820 | €461,699 | +€77,879 | +20.3% |
| Trade receivables | 40 | €67,153 | €59,000 | -€8,153 | -12.1% |
| Other amounts receivable | 41 | €316,667 | €402,699 | +€86,032 | +27.2% |
| Cash at bank and in hand | 54/58 | €107,903 | €43,294 | -€64,609 | -59.9% |
| Total equity and liabilities | 10/49 | €1,916,095 | €2,071,162 | +€155,067 | +8.1% |
| Equity | 10/15 | €1,182,031 | €1,157,481 | -€24,550 | -2.1% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €792,734 | €573,683 | -€219,051 | -27.6% |
| Distributable reserves | 133 | €792,734 | €573,683 | -€219,051 | -27.6% |
| Profit (loss) carried forward | 14 | €367,297 | €561,798 | +€194,501 | +53.0% |
| Amounts payable | 17/49 | €734,064 | €913,681 | +€179,617 | +24.5% |
| Amounts payable after more than one year | 17 | €593,678 | €504,605 | -€89,073 | -15.0% |
| Financial debts | 170/4 | €593,678 | €504,605 | -€89,073 | -15.0% |
| Amounts payable within one year | 42/48 | €140,386 | €409,076 | +€268,690 | +191.4% |
| Current portion of amounts payable after more than one year | 42 | €87,212 | €89,073 | +€1,861 | +2.1% |
| Trade debts | 44 | €1,520 | €1,414 | -€107 | -7.0% |
| Suppliers | 440/4 | €1,520 | €1,414 | -€107 | -7.0% |
| Taxes, remuneration and social security | 45 | €51,654 | €46,500 | -€5,153 | -10.0% |
| Taxes | 450/3 | €51,654 | €46,500 | -€5,153 | -10.0% |
| Other amounts payable | 47/48 | €0 | €272,089 | +€272,089 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €5 | +€5 | |
| Other operating charges | 640/8 | €21,184 | €31,059 | +€9,875 | +46.6% |
| Gross operating margin | 9900 | €73,946 | -€1,749 | -€75,696 | |
| Operating profit (loss) | 9901 | €52,762 | -€32,813 | -€85,576 | |
| Financial income | 75/76B | €303,477 | €243,755 | -€59,723 | -19.7% |
| Recurring financial income | 75 | €303,477 | €243,755 | -€59,723 | -19.7% |
| Financial charges | 65/66B | €12,361 | €14,683 | +€2,322 | +18.8% |
| Recurring financial charges | 65 | €12,361 | €14,683 | +€2,322 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €343,878 | €196,258 | -€147,620 | -42.9% |
| Income taxes | 67/77 | €31,350 | €1,757 | -€29,593 | -94.4% |
| Profit (loss) for the period | 9904 | €312,528 | €194,501 | -€118,027 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €312,528 | €194,501 | -€118,027 | -37.8% |
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 29 September 2026 via checked.be.