JFORZA: 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.
JFORZA
Largest movements
- Tangible fixed assets +€3,003
up €3,003 (+1.2%), from €247,840 to €250,843
of which Land and buildings: +€4,891
- Reserves +€105,700
up €105,700 (+164.4%), from €64,300 to €170,000
of which Distributable reserves: +€107,000
- Profit (loss) carried forward -€83,117
down €83,117 (-96.0%), from €86,537 to €3,421
- Current portion of long-term debt -€24,142
down €24,142 (-66.1%), from €36,524 to €12,381
- Other debts +€13,225
up €13,225 (+37.1%), from €35,670 to €48,895
- Debts after one year -€12,381
no longer reported in 2025 (was €12,381)
- Gross operating margin -€21,821
down €21,821 (-24.3%), from €89,647 to €67,826
- Taxes -€9,406
down €9,406 (-54.1%), from €17,384 to €7,977
- Financial charges -€903
down €903 (-49.1%), from €1,838 to €934
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 | €265,133 | €266,307 | +€1,174 | +0.4% |
| Fixed assets | 21/28 | €247,840 | €250,843 | +€3,003 | +1.2% |
| Tangible fixed assets | 22/27 | €247,840 | €250,843 | +€3,003 | +1.2% |
| Land and buildings | 22 | €244,606 | €249,497 | +€4,891 | +2.0% |
| Plant, machinery and equipment | 23 | €825 | €372 | -€453 | -54.9% |
| Furniture and vehicles | 24 | €2,409 | €974 | -€1,434 | -59.6% |
| Current assets | 29/58 | €17,293 | €15,464 | -€1,829 | -10.6% |
| Amounts receivable within one year | 40/41 | €17,293 | €15,039 | -€2,255 | -13.0% |
| Trade receivables | 40 | €17,293 | €15,039 | -€2,255 | -13.0% |
| Cash at bank and in hand | 54/58 | - | €426 | +€426 | |
| Total equity and liabilities | 10/49 | €265,133 | €266,307 | +€1,174 | +0.4% |
| Equity | 10/15 | €157,037 | €179,621 | +€22,583 | +14.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €64,300 | €170,000 | +€105,700 | +164.4% |
| Non-distributable reserves | 130/1 | €1,300 | - | -€1,300 | |
| Reserves not available under the articles | 1311 | €1,300 | - | -€1,300 | |
| Distributable reserves | 133 | €63,000 | €170,000 | +€107,000 | +169.8% |
| Profit (loss) carried forward | 14 | €86,537 | €3,421 | -€83,117 | -96.0% |
| Amounts payable | 17/49 | €108,096 | €86,687 | -€21,409 | -19.8% |
| Amounts payable after more than one year | 17 | €12,381 | - | -€12,381 | |
| Financial debts | 170/4 | €12,381 | - | -€12,381 | |
| Amounts payable within one year | 42/48 | €95,715 | €86,687 | -€9,028 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €36,524 | €12,381 | -€24,142 | -66.1% |
| Financial debts | 43 | €111 | €2,500 | +€2,389 | +2154.5% |
| Credit institutions | 430/8 | €111 | - | -€111 | |
| Other loans | 439 | - | €2,500 | +€2,500 | |
| Trade debts | 44 | €930 | €4,029 | +€3,099 | +333.2% |
| Suppliers | 440/4 | €930 | €4,029 | +€3,099 | +333.2% |
| Taxes, remuneration and social security | 45 | €22,480 | €18,882 | -€3,598 | -16.0% |
| Taxes | 450/3 | €22,480 | €18,882 | -€3,598 | -16.0% |
| Other amounts payable | 47/48 | €35,670 | €48,895 | +€13,225 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,557 | €7,455 | -€102 | -1.4% |
| Other operating charges | 640/8 | €1,548 | €1,876 | +€327 | +21.1% |
| Gross operating margin | 9900 | €89,647 | €67,826 | -€21,821 | -24.3% |
| Operating profit (loss) | 9901 | €80,542 | €58,495 | -€22,047 | -27.4% |
| Financial charges | 65/66B | €1,838 | €934 | -€903 | -49.1% |
| Recurring financial charges | 65 | €1,838 | €934 | -€903 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €78,704 | €57,561 | -€21,144 | -26.9% |
| Income taxes | 67/77 | €17,384 | €7,977 | -€9,406 | -54.1% |
| Profit (loss) for the period | 9904 | €61,321 | €49,583 | -€11,737 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,321 | €49,583 | -€11,737 | -19.1% |
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 3 October 2026 via checked.be.