JLCMAES: 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.
JLCMAES
Largest movements
- Tangible fixed assets +€209,209
up €209,209 (+10.3%), from €2.0m to €2.2m
of which Land and buildings: +€236,287
- Cash -€183,462
down €183,462 (-91.4%), from €200,688 to €17,226
mainly Investment in fixed assets (net) (-€438,466) and Trade debts (-€81,562)
- Reserves +€160,683
up €160,683 (+16.4%), from €981,274 to €1.1m
of which Distributable reserves: +€170,983
- Trade debts -€81,562
down €81,562 (-96.1%), from €84,891 to €3,329
- Debts after one year -€80,148
down €80,148 (-24.6%), from €325,655 to €245,507
- Short-term financial debts +€26,667
new in 2025: €26,667
- Other debts +€23,247
up €23,247 (+8.4%), from €277,148 to €300,395
- Depreciation +€30,288
up €30,288 (+15.2%), from €198,969 to €229,257
- Gross operating margin -€14,218
down €14,218 (-2.7%), from €533,643 to €519,425
- Financial charges -€12,617
down €12,617 (-31.7%), from €39,820 to €27,203
- Taxes -€12,566
down €12,566 (-12.6%), from €99,390 to €86,825
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 | €2,298,242 | €2,319,520 | +€21,278 | +0.9% |
| Fixed assets | 21/28 | €2,022,393 | €2,231,602 | +€209,209 | +10.3% |
| Tangible fixed assets | 22/27 | €2,022,393 | €2,231,602 | +€209,209 | +10.3% |
| Land and buildings | 22 | €632,780 | €869,067 | +€236,287 | +37.3% |
| Plant, machinery and equipment | 23 | €3,151 | €2,188 | -€963 | -30.6% |
| Furniture and vehicles | 24 | €712 | €9,813 | +€9,101 | +1278.7% |
| Other tangible fixed assets | 26 | €1,385,750 | €1,350,534 | -€35,216 | -2.5% |
| Current assets | 29/58 | €275,849 | €87,918 | -€187,931 | -68.1% |
| Amounts receivable within one year | 40/41 | €43,297 | €43,477 | +€180 | +0.4% |
| Trade receivables | 40 | €43,297 | €43,477 | +€180 | +0.4% |
| Current investments | 50/53 | €25,500 | €25,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €200,688 | €17,226 | -€183,462 | -91.4% |
| Deferred charges and accrued income | 490/1 | €6,365 | €1,716 | -€4,649 | -73.0% |
| Total equity and liabilities | 10/49 | €2,298,242 | €2,319,520 | +€21,278 | +0.9% |
| Equity | 10/15 | €1,380,899 | €1,541,581 | +€160,683 | +11.6% |
| Contributions | 10/11 | €399,492 | €399,492 | = | 0.0% |
| Reserves | 13 | €981,274 | €1,141,957 | +€160,683 | +16.4% |
| Tax-exempt reserves | 132 | €176,537 | €166,238 | -€10,300 | -5.8% |
| Distributable reserves | 133 | €804,736 | €975,719 | +€170,983 | +21.2% |
| Profit (loss) carried forward | 14 | €133 | €133 | = | 0.0% |
| Provisions and deferred taxes | 16 | €43,380 | €39,573 | -€3,807 | -8.8% |
| Deferred taxes | 168 | €43,380 | €39,573 | -€3,807 | -8.8% |
| Amounts payable | 17/49 | €873,964 | €738,365 | -€135,598 | -15.5% |
| Amounts payable after more than one year | 17 | €325,655 | €245,507 | -€80,148 | -24.6% |
| Financial debts | 170/4 | €325,655 | €245,507 | -€80,148 | -24.6% |
| Amounts payable within one year | 42/48 | €520,929 | €474,158 | -€46,771 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €86,126 | €80,134 | -€5,992 | -7.0% |
| Financial debts | 43 | - | €26,667 | +€26,667 | |
| Credit institutions | 430/8 | - | €26,667 | +€26,667 | |
| Trade debts | 44 | €84,891 | €3,329 | -€81,562 | -96.1% |
| Suppliers | 440/4 | €84,891 | €3,329 | -€81,562 | -96.1% |
| Taxes, remuneration and social security | 45 | €72,764 | €63,633 | -€9,131 | -12.5% |
| Taxes | 450/3 | €72,764 | €63,633 | -€9,131 | -12.5% |
| Other amounts payable | 47/48 | €277,148 | €300,395 | +€23,247 | +8.4% |
| Accrued charges and deferred income | 492/3 | €27,380 | €18,700 | -€8,679 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,969 | €229,257 | +€30,288 | +15.2% |
| Other operating charges | 640/8 | €18,087 | €19,374 | +€1,288 | +7.1% |
| Gross operating margin | 9900 | €533,643 | €519,425 | -€14,218 | -2.7% |
| Operating profit (loss) | 9901 | €316,587 | €270,793 | -€45,794 | -14.5% |
| Financial income | 75/76B | €117 | €111 | -€6 | -5.4% |
| Recurring financial income | 75 | €117 | €111 | -€6 | -5.4% |
| Financial charges | 65/66B | €39,820 | €27,203 | -€12,617 | -31.7% |
| Recurring financial charges | 65 | €39,820 | €27,203 | -€12,617 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €276,884 | €243,701 | -€33,183 | -12.0% |
| Transfer from deferred taxes | 780 | €3,807 | €3,807 | = | 0.0% |
| Income taxes | 67/77 | €99,390 | €86,825 | -€12,566 | -12.6% |
| Profit (loss) for the period | 9904 | €181,300 | €160,683 | -€20,617 | -11.4% |
| Transfer from tax-exempt reserves | 789 | €10,300 | €10,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €191,600 | €170,983 | -€20,617 | -10.8% |
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 8 October 2026 via checked.be.