"JITPAN": 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.
"JITPAN"
Largest movements
- Tangible fixed assets +€459,809
up €459,809 (+116.2%), from €395,800 to €855,609
of which Land and buildings: +€232,187
- Cash -€86,291
down €86,291 (-41.7%), from €206,990 to €120,699
mainly Investment in fixed assets (net) (-€494,921) and Other debts (-€105,749)
- Receivables within one year -€45,297
down €45,297 (-75.4%), from €60,104 to €14,807
of which Trade receivables: -€51,097
- Financial fixed assets -€12,855
down €12,855 (-16.8%), from €76,534 to €63,679
- Debts after one year +€340,149
up €340,149 (+156.3%), from €217,580 to €557,729
of which Financial debts: +€340,504
- Other debts -€105,749
down €105,749 (-95.9%), from €110,327 to €4,579
- Reserves +€54,000
up €54,000 (+43.9%), from €123,000 to €177,000
- Current portion of long-term debt +€24,937
up €24,937 (+376.1%), from €6,630 to €31,566
- Other operating charges +€36,099
up €36,099 (+693.7%), from €5,204 to €41,302
- Depreciation +€24,980
up €24,980 (+106.2%), from €23,520 to €48,500
- Staff costs -€17,437
down €17,437 (-8.3%), from €209,404 to €191,967
- Taxes -€17,218
down €17,218 (-52.0%), from €33,108 to €15,890
- Financial charges +€4,445
up €4,445 (+17.2%), from €25,817 to €30,262
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 | €748,704 | €1,063,424 | +€314,720 | +42.0% |
| Formation expenses | 20 | €671 | €138 | -€533 | -79.4% |
| Fixed assets | 21/28 | €472,334 | €919,289 | +€446,954 | +94.6% |
| Tangible fixed assets | 22/27 | €395,800 | €855,609 | +€459,809 | +116.2% |
| Land and buildings | 22 | €278,520 | €510,707 | +€232,187 | +83.4% |
| Plant, machinery and equipment | 23 | €114,095 | €341,478 | +€227,383 | +199.3% |
| Furniture and vehicles | 24 | €3,185 | €3,425 | +€239 | +7.5% |
| Financial fixed assets | 28 | €76,534 | €63,679 | -€12,855 | -16.8% |
| Current assets | 29/58 | €275,698 | €143,997 | -€131,701 | -47.8% |
| Stocks and contracts in progress | 3 | €4,181 | €8,491 | +€4,310 | +103.1% |
| Stocks | 30/36 | €4,181 | €8,491 | +€4,310 | +103.1% |
| Amounts receivable within one year | 40/41 | €60,104 | €14,807 | -€45,297 | -75.4% |
| Trade receivables | 40 | €55,347 | €4,250 | -€51,097 | -92.3% |
| Other amounts receivable | 41 | €4,757 | €10,557 | +€5,800 | +121.9% |
| Cash at bank and in hand | 54/58 | €206,990 | €120,699 | -€86,291 | -41.7% |
| Deferred charges and accrued income | 490/1 | €4,423 | - | -€4,423 | |
| Total equity and liabilities | 10/49 | €748,704 | €1,063,424 | +€314,720 | +42.0% |
| Equity | 10/15 | €305,281 | €359,375 | +€54,093 | +17.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €123,000 | €177,000 | +€54,000 | +43.9% |
| Distributable reserves | 133 | €123,000 | €177,000 | +€54,000 | +43.9% |
| Profit (loss) carried forward | 14 | €142,281 | €142,375 | +€93 | +0.1% |
| Amounts payable | 17/49 | €443,422 | €704,049 | +€260,627 | +58.8% |
| Amounts payable after more than one year | 17 | €217,580 | €557,729 | +€340,149 | +156.3% |
| Financial debts | 170/4 | €215,910 | €556,414 | +€340,504 | +157.7% |
| Other amounts payable | 178/9 | €1,670 | €1,315 | -€355 | -21.3% |
| Amounts payable within one year | 42/48 | €225,842 | €144,944 | -€80,898 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €6,630 | €31,566 | +€24,937 | +376.1% |
| Trade debts | 44 | €51,687 | €50,743 | -€943 | -1.8% |
| Suppliers | 440/4 | €51,687 | €50,743 | -€943 | -1.8% |
| Taxes, remuneration and social security | 45 | €57,199 | €58,056 | +€857 | +1.5% |
| Taxes | 450/3 | €33,808 | €33,308 | -€500 | -1.5% |
| Remuneration and social security | 454/9 | €23,391 | €24,748 | +€1,357 | +5.8% |
| Other amounts payable | 47/48 | €110,327 | €4,579 | -€105,749 | -95.9% |
| Accrued charges and deferred income | 492/3 | - | €1,376 | +€1,376 | |
| Remuneration, social security and pensions | 62 | €209,404 | €191,967 | -€17,437 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,520 | €48,500 | +€24,980 | +106.2% |
| Other operating charges | 640/8 | €5,204 | €41,302 | +€36,099 | +693.7% |
| Gross operating margin | 9900 | €378,196 | €374,211 | -€3,985 | -1.1% |
| Operating profit (loss) | 9901 | €140,068 | €92,442 | -€47,626 | -34.0% |
| Financial income | 75/76B | €3,756 | €7,803 | +€4,047 | +107.8% |
| Recurring financial income | 75 | €3,756 | €7,803 | +€4,047 | +107.8% |
| Financial charges | 65/66B | €25,817 | €30,262 | +€4,445 | +17.2% |
| Recurring financial charges | 65 | €25,817 | €30,262 | +€4,445 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €118,007 | €69,983 | -€48,024 | -40.7% |
| Income taxes | 67/77 | €33,108 | €15,890 | -€17,218 | -52.0% |
| Profit (loss) for the period | 9904 | €84,899 | €54,093 | -€30,806 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,899 | €54,093 | -€30,806 | -36.3% |
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 9 October 2026 via checked.be.