JINC: 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.
JINC
Largest movements
- Receivables within one year +€169,467
up €169,467 (+133%), from €127,048 to €296,515
of which Trade receivables: +€173,920
- Tangible fixed assets -€124,426
down €124,426 (-5.8%), from €2.1m to €2.0m
of which Land and buildings: -€162,753
- Reserves +€221,873
up €221,873 (+25.7%), from €864,960 to €1.1m
of which Distributable reserves: +€117,317
- Debts after one year -€110,739
down €110,739 (-13.0%), from €851,453 to €740,714
- Advances received -€54,467
no longer reported in 2025 (was €54,467)
- Other debts -€49,290
down €49,290 (-6.2%), from €795,840 to €746,551
- Provisions +€34,852
new in 2025: €34,852
- Gross operating margin +€93,007
up €93,007 (+26.5%), from €351,581 to €444,588
- Depreciation -€41,544
down €41,544 (-31.8%), from €130,681 to €89,137
- Other operating charges +€7,370
up €7,370 (+65.7%), from €11,219 to €18,589
- Financial charges +€5,314
up €5,314 (+16.1%), from €33,059 to €38,373
- Taxes -€5,066
down €5,066 (-10.6%), from €47,901 to €42,835
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 | €2,766,253 | €2,821,714 | +€55,461 | +2.0% |
| Fixed assets | 21/28 | €2,620,940 | €2,496,514 | -€124,426 | -4.7% |
| Tangible fixed assets | 22/27 | €2,148,806 | €2,024,380 | -€124,426 | -5.8% |
| Land and buildings | 22 | €2,102,312 | €1,939,559 | -€162,753 | -7.7% |
| Plant, machinery and equipment | 23 | €30,229 | €25,706 | -€4,522 | -15.0% |
| Furniture and vehicles | 24 | €16,265 | €59,114 | +€42,850 | +263% |
| Financial fixed assets | 28 | €472,134 | €472,134 | = | 0.0% |
| Current assets | 29/58 | €145,313 | €325,200 | +€179,887 | +124% |
| Amounts receivable within one year | 40/41 | €127,048 | €296,515 | +€169,467 | +133% |
| Trade receivables | 40 | €70,565 | €244,484 | +€173,920 | +246% |
| Other amounts receivable | 41 | €56,483 | €52,031 | -€4,452 | -7.9% |
| Cash at bank and in hand | 54/58 | €11,391 | €22,509 | +€11,118 | +97.6% |
| Deferred charges and accrued income | 490/1 | €6,875 | €6,177 | -€698 | -10.2% |
| Total equity and liabilities | 10/49 | €2,766,253 | €2,821,714 | +€55,461 | +2.0% |
| Equity | 10/15 | €883,510 | €1,105,383 | +€221,873 | +25.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €864,960 | €1,086,833 | +€221,873 | +25.7% |
| Tax-exempt reserves | 132 | - | €104,555 | +€104,555 | |
| Distributable reserves | 133 | €864,960 | €982,277 | +€117,317 | +13.6% |
| Investment grants | 15 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €34,852 | +€34,852 | |
| Deferred taxes | 168 | - | €34,852 | +€34,852 | |
| Amounts payable | 17/49 | €1,882,743 | €1,681,480 | -€201,263 | -10.7% |
| Amounts payable after more than one year | 17 | €851,453 | €740,714 | -€110,739 | -13.0% |
| Financial debts | 170/4 | €851,453 | €740,714 | -€110,739 | -13.0% |
| Amounts payable within one year | 42/48 | €1,030,504 | €940,766 | -€89,738 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €122,372 | €124,073 | +€1,701 | +1.4% |
| Financial debts | 43 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Credit institutions | 430/8 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Trade debts | 44 | €16,472 | €15,510 | -€963 | -5.8% |
| Suppliers | 440/4 | €16,472 | €15,510 | -€963 | -5.8% |
| Advances received on contracts in progress | 46 | €54,467 | - | -€54,467 | |
| Taxes, remuneration and social security | 45 | €21,353 | €24,633 | +€3,280 | +15.4% |
| Taxes | 450/3 | €21,353 | €24,633 | +€3,280 | +15.4% |
| Other amounts payable | 47/48 | €795,840 | €746,551 | -€49,290 | -6.2% |
| Accrued charges and deferred income | 492/3 | €786 | - | -€786 | |
| Non-recurring operating income | 76A | €25,952 | €156,881 | +€130,929 | +505% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,681 | €89,137 | -€41,544 | -31.8% |
| Other operating charges | 640/8 | €11,219 | €18,589 | +€7,370 | +65.7% |
| Gross operating margin | 9900 | €351,581 | €444,588 | +€93,007 | +26.5% |
| Operating profit (loss) | 9901 | €209,681 | €336,862 | +€127,181 | +60.7% |
| Financial income | 75/76B | €570 | €1,070 | +€500 | +87.9% |
| Recurring financial income | 75 | €570 | €1,070 | +€500 | +87.9% |
| Financial charges | 65/66B | €33,059 | €38,373 | +€5,314 | +16.1% |
| Recurring financial charges | 65 | €33,059 | €38,373 | +€5,314 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €177,192 | €299,559 | +€122,368 | +69.1% |
| Transfer from deferred taxes | 780 | - | €2,015 | +€2,015 | |
| Transfer to deferred taxes | 680 | - | €36,866 | +€36,866 | |
| Income taxes | 67/77 | €47,901 | €42,835 | -€5,066 | -10.6% |
| Profit (loss) for the period | 9904 | €129,291 | €221,873 | +€92,581 | +71.6% |
| Transfer from tax-exempt reserves | 789 | - | €6,044 | +€6,044 | |
| Transfer to tax-exempt reserves | 689 | - | €110,599 | +€110,599 | |
| Profit (loss) for the period to be appropriated | 9905 | €129,291 | €117,317 | -€11,974 | -9.3% |
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 18 October 2026 via checked.be.