JJA: 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.
JJA
Largest movements
- Tangible fixed assets -€32,668
down €32,668 (-6.6%), from €493,727 to €461,059
of which Land and buildings: -€28,448
- Receivables within one year -€32,359
down €32,359 (-29.0%), from €111,462 to €79,103
of which Other amounts receivable: -€31,996
- Deferred charges and accrued income -€7,154
down €7,154 (-66.2%), from €10,805 to €3,650
- Debts after one year -€51,242
down €51,242 (-20.6%), from €248,700 to €197,458
- Reserves -€24,394
down €24,394 (-10.8%), from €226,306 to €201,912
of which Distributable reserves: -€24,394
- Gross operating margin -€10,246
down €10,246 (-11.8%), from €86,726 to €76,480
- Taxes -€9,266
down €9,266 (-48.6%), from €19,057 to €9,791
- Depreciation -€6,419
down €6,419 (-16.6%), from €38,721 to €32,302
- Financial income -€2,173
down €2,173 (-32.7%), from €6,641 to €4,469
- Financial charges -€1,333
down €1,333 (-15.8%), from €8,441 to €7,108
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €635,520 | €559,334 | -€76,186 | -12.0% |
| Fixed assets | 21/28 | €493,727 | €461,059 | -€32,668 | -6.6% |
| Tangible fixed assets | 22/27 | €493,727 | €461,059 | -€32,668 | -6.6% |
| Land and buildings | 22 | €479,642 | €451,194 | -€28,448 | -5.9% |
| Other tangible fixed assets | 26 | €14,085 | €9,865 | -€4,220 | -30.0% |
| Current assets | 29/58 | €141,793 | €98,275 | -€43,518 | -30.7% |
| Amounts receivable within one year | 40/41 | €111,462 | €79,103 | -€32,359 | -29.0% |
| Trade receivables | 40 | €1,706 | €1,343 | -€363 | -21.3% |
| Other amounts receivable | 41 | €109,756 | €77,759 | -€31,996 | -29.2% |
| Cash at bank and in hand | 54/58 | €19,527 | €15,522 | -€4,004 | -20.5% |
| Deferred charges and accrued income | 490/1 | €10,805 | €3,650 | -€7,154 | -66.2% |
| Total equity and liabilities | 10/49 | €635,520 | €559,334 | -€76,186 | -12.0% |
| Equity | 10/15 | €236,550 | €212,156 | -€24,394 | -10.3% |
| Contributions | 10/11 | €10,244 | €10,244 | = | 0.0% |
| Reserves | 13 | €226,306 | €201,912 | -€24,394 | -10.8% |
| Non-distributable reserves | 130/1 | €1,882 | €1,882 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,882 | €1,882 | = | 0.0% |
| Distributable reserves | 133 | €224,424 | €200,030 | -€24,394 | -10.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €398,970 | €347,177 | -€51,793 | -13.0% |
| Amounts payable after more than one year | 17 | €248,700 | €197,458 | -€51,242 | -20.6% |
| Financial debts | 170/4 | €248,700 | €197,458 | -€51,242 | -20.6% |
| Amounts payable within one year | 42/48 | €150,270 | €149,719 | -€551 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €49,986 | €51,242 | +€1,256 | +2.5% |
| Financial debts | 43 | €0 | €3,519 | +€3,519 | |
| Credit institutions | 430/8 | €0 | €3,519 | +€3,519 | |
| Trade debts | 44 | €91,226 | €91,167 | -€60 | -0.1% |
| Suppliers | 440/4 | €91,226 | €91,167 | -€60 | -0.1% |
| Taxes, remuneration and social security | 45 | €9,057 | €3,791 | -€5,266 | -58.1% |
| Taxes | 450/3 | €9,057 | €3,791 | -€5,266 | -58.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,721 | €32,302 | -€6,419 | -16.6% |
| Other operating charges | 640/8 | €10,903 | €9,812 | -€1,091 | -10.0% |
| Non-recurring operating charges | 66A | - | €367 | +€367 | |
| Gross operating margin | 9900 | €86,726 | €76,480 | -€10,246 | -11.8% |
| Operating profit (loss) | 9901 | €37,102 | €34,000 | -€3,102 | -8.4% |
| Financial income | 75/76B | €6,641 | €4,469 | -€2,173 | -32.7% |
| Recurring financial income | 75 | €6,641 | €4,469 | -€2,173 | -32.7% |
| Financial charges | 65/66B | €8,441 | €7,108 | -€1,333 | -15.8% |
| Recurring financial charges | 65 | €8,441 | €7,108 | -€1,333 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €35,302 | €31,360 | -€3,942 | -11.2% |
| Income taxes | 67/77 | €19,057 | €9,791 | -€9,266 | -48.6% |
| Profit (loss) for the period | 9904 | €16,245 | €21,569 | +€5,324 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,245 | €21,569 | +€5,324 | +32.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.