JLT: 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.
JLT
Largest movements
- Receivables within one year -€27,774
down €27,774 (-39.1%), from €70,980 to €43,206
of which Other amounts receivable: -€20,069
- Tangible fixed assets +€24,105
up €24,105 (+3.2%), from €761,321 to €785,426
of which Land and buildings: +€25,867
- Reserves +€34,052
up €34,052 (+4.9%), from €699,640 to €733,692
of which Distributable reserves: +€39,162
- Debts after one year -€30,884
down €30,884 (-3.4%), from €895,620 to €864,736
- Depreciation +€10,528
up €10,528 (+36.5%), from €28,847 to €39,375
- Gross operating margin +€6,231
up €6,231 (+5.2%), from €118,777 to €125,007
- Financial income +€3,655
up €3,655 (+57.6%), from €6,343 to €9,998
- Taxes +€2,889
up €2,889 (+20.2%), from €14,330 to €17,219
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 | €1,784,626 | €1,782,281 | -€2,345 | -0.1% |
| Fixed assets | 21/28 | €1,332,853 | €1,356,959 | +€24,105 | +1.8% |
| Tangible fixed assets | 22/27 | €761,321 | €785,426 | +€24,105 | +3.2% |
| Land and buildings | 22 | €744,016 | €769,884 | +€25,867 | +3.5% |
| Plant, machinery and equipment | 23 | €17,304 | €15,542 | -€1,762 | -10.2% |
| Financial fixed assets | 28 | €571,533 | €571,533 | = | 0.0% |
| Current assets | 29/58 | €451,773 | €425,322 | -€26,451 | -5.9% |
| Amounts receivable after more than one year | 29 | €380,775 | €380,775 | = | 0.0% |
| Other amounts receivable | 291 | €380,775 | €380,775 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €70,980 | €43,206 | -€27,774 | -39.1% |
| Trade receivables | 40 | €7,705 | - | -€7,705 | |
| Other amounts receivable | 41 | €63,275 | €43,206 | -€20,069 | -31.7% |
| Cash at bank and in hand | 54/58 | €17 | €1,341 | +€1,323 | +7,583% |
| Total equity and liabilities | 10/49 | €1,784,626 | €1,782,281 | -€2,345 | -0.1% |
| Equity | 10/15 | €718,240 | €752,292 | +€34,052 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €699,640 | €733,692 | +€34,052 | +4.9% |
| Tax-exempt reserves | 132 | €113,983 | €108,873 | -€5,110 | -4.5% |
| Distributable reserves | 133 | €585,658 | €624,819 | +€39,162 | +6.7% |
| Provisions and deferred taxes | 16 | €42,773 | €41,070 | -€1,703 | -4.0% |
| Deferred taxes | 168 | €42,773 | €41,070 | -€1,703 | -4.0% |
| Amounts payable | 17/49 | €1,023,613 | €988,918 | -€34,694 | -3.4% |
| Amounts payable after more than one year | 17 | €895,620 | €864,736 | -€30,884 | -3.4% |
| Financial debts | 170/4 | €895,620 | €864,736 | -€30,884 | -3.4% |
| Amounts payable within one year | 42/48 | €127,992 | €124,182 | -€3,810 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €62,746 | €63,838 | +€1,092 | +1.7% |
| Financial debts | 43 | €8,825 | €12,527 | +€3,702 | +41.9% |
| Credit institutions | 430/8 | €8,825 | €12,527 | +€3,702 | +41.9% |
| Trade debts | 44 | €19,985 | €28,905 | +€8,919 | +44.6% |
| Suppliers | 440/4 | €19,985 | €28,905 | +€8,919 | +44.6% |
| Taxes, remuneration and social security | 45 | €19,385 | €9,471 | -€9,914 | -51.1% |
| Taxes | 450/3 | €17,929 | €7,671 | -€10,258 | -57.2% |
| Remuneration and social security | 454/9 | €1,456 | €1,800 | +€344 | +23.6% |
| Other amounts payable | 47/48 | €17,051 | €9,441 | -€7,609 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,847 | €39,375 | +€10,528 | +36.5% |
| Other operating charges | 640/8 | €2,061 | €2,483 | +€422 | +20.5% |
| Gross operating margin | 9900 | €118,777 | €125,007 | +€6,231 | +5.2% |
| Operating profit (loss) | 9901 | €87,869 | €83,150 | -€4,719 | -5.4% |
| Financial income | 75/76B | €6,343 | €9,998 | +€3,655 | +57.6% |
| Recurring financial income | 75 | €6,343 | €9,998 | +€3,655 | +57.6% |
| Financial charges | 65/66B | €44,495 | €43,580 | -€915 | -2.1% |
| Recurring financial charges | 65 | €44,495 | €43,580 | -€915 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €49,717 | €49,568 | -€149 | -0.3% |
| Transfer from deferred taxes | 780 | €1,735 | €1,703 | -€31 | -1.8% |
| Income taxes | 67/77 | €14,330 | €17,219 | +€2,889 | +20.2% |
| Profit (loss) for the period | 9904 | €37,121 | €34,052 | -€3,069 | -8.3% |
| Transfer from tax-exempt reserves | 789 | €5,204 | €5,110 | -€94 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,325 | €39,162 | -€3,163 | -7.5% |
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 27 October 2026 via checked.be.