JNL Immo: 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.
JNL Immo
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+365%), from €307,669 to €1.4m
of which Assets under construction and advance payments: +€1.2m
- Cash +€39,983
up €39,983 (+160%), from €24,932 to €64,915
mainly Debts after one year (+€785,294) and Other debts (+€343,294)
- Receivables within one year -€19,848
down €19,848 (-14.4%), from €137,653 to €117,805
of which Other amounts receivable: -€12,100
- Debts after one year +€785,294
up €785,294 (+361%), from €217,511 to €1.0m
- Other debts +€343,294
up €343,294 (+233%), from €147,047 to €490,341
- Reserves +€18,537
up €18,537 (+16.8%), from €110,044 to €128,581
of which Distributable reserves: +€18,537
- Financial income -€66,366
down €66,366 (-81.6%), from €81,373 to €15,006
- Financial charges -€54,113
down €54,113 (-78.2%), from €69,200 to €15,087
of which Non-recurring financial charges: -€63,802
- Taxes -€2,685
down €2,685 (-40.0%), from €6,711 to €4,026
- Gross operating margin +€2,041
up €2,041 (+3.2%), from €63,467 to €65,508
- Other operating charges -€1,920
down €1,920 (-26.0%), from €7,392 to €5,472
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 | €548,952 | €1,695,188 | +€1.1m | +209% |
| Fixed assets | 21/28 | €386,367 | €1,510,044 | +€1.1m | +291% |
| Tangible fixed assets | 22/27 | €307,669 | €1,431,347 | +€1.1m | +365% |
| Land and buildings | 22 | €269,368 | €254,268 | -€15,101 | -5.6% |
| Plant, machinery and equipment | 23 | €1,592 | €995 | -€597 | -37.5% |
| Furniture and vehicles | 24 | €36,709 | €15,013 | -€21,696 | -59.1% |
| Assets under construction and advance payments | 27 | - | €1,161,071 | +€1.2m | |
| Financial fixed assets | 28 | €78,698 | €78,698 | = | 0.0% |
| Current assets | 29/58 | €162,585 | €185,144 | +€22,559 | +13.9% |
| Amounts receivable within one year | 40/41 | €137,653 | €117,805 | -€19,848 | -14.4% |
| Trade receivables | 40 | €25,083 | €17,335 | -€7,748 | -30.9% |
| Other amounts receivable | 41 | €112,570 | €100,470 | -€12,100 | -10.7% |
| Cash at bank and in hand | 54/58 | €24,932 | €64,915 | +€39,983 | +160% |
| Deferred charges and accrued income | 490/1 | €0 | €2,423 | +€2,423 | |
| Total equity and liabilities | 10/49 | €548,952 | €1,695,188 | +€1.1m | +209% |
| Equity | 10/15 | €136,933 | €155,470 | +€18,537 | +13.5% |
| Contributions | 10/11 | €26,889 | €26,889 | = | 0.0% |
| Reserves | 13 | €110,044 | €128,581 | +€18,537 | +16.8% |
| Tax-exempt reserves | 132 | €337 | €337 | = | 0.0% |
| Distributable reserves | 133 | €109,707 | €128,244 | +€18,537 | +16.9% |
| Amounts payable | 17/49 | €412,019 | €1,539,718 | +€1.1m | +274% |
| Amounts payable after more than one year | 17 | €217,511 | €1,002,805 | +€785,294 | +361% |
| Financial debts | 170/4 | €217,511 | €1,002,805 | +€785,294 | +361% |
| Amounts payable within one year | 42/48 | €193,399 | €534,513 | +€341,114 | +176% |
| Current portion of amounts payable after more than one year | 42 | €29,828 | €28,219 | -€1,608 | -5.4% |
| Trade debts | 44 | €8,846 | €6,693 | -€2,153 | -24.3% |
| Suppliers | 440/4 | €8,846 | €6,693 | -€2,153 | -24.3% |
| Taxes, remuneration and social security | 45 | €7,679 | €9,261 | +€1,582 | +20.6% |
| Taxes | 450/3 | €5,537 | €7,093 | +€1,557 | +28.1% |
| Remuneration and social security | 454/9 | €2,142 | €2,167 | +€25 | +1.2% |
| Other amounts payable | 47/48 | €147,047 | €490,341 | +€343,294 | +233% |
| Accrued charges and deferred income | 492/3 | €1,109 | €2,400 | +€1,291 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,393 | €37,393 | = | 0.0% |
| Other operating charges | 640/8 | €7,392 | €5,472 | -€1,920 | -26.0% |
| Gross operating margin | 9900 | €63,467 | €65,508 | +€2,041 | +3.2% |
| Operating profit (loss) | 9901 | €18,681 | €22,643 | +€3,962 | +21.2% |
| Financial income | 75/76B | €81,373 | €15,006 | -€66,366 | -81.6% |
| Recurring financial income | 75 | €81,373 | €15,006 | -€66,366 | -81.6% |
| Financial charges | 65/66B | €69,200 | €15,087 | -€54,113 | -78.2% |
| Recurring financial charges | 65 | €5,397 | €15,087 | +€9,689 | +180% |
| Non-recurring financial charges | 66B | €63,802 | €0 | -€63,802 | -100% |
| Profit (loss) for the period before taxes | 9903 | €30,854 | €22,563 | -€8,292 | -26.9% |
| Income taxes | 67/77 | €6,711 | €4,026 | -€2,685 | -40.0% |
| Profit (loss) for the period | 9904 | €24,144 | €18,537 | -€5,607 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,144 | €18,537 | -€5,607 | -23.2% |
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.