JP TAVERNIER: 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.
JP TAVERNIER
Largest movements
- Tangible fixed assets +€761,925
up €761,925 (+45.9%), from €1.7m to €2.4m
of which Land and buildings: +€765,172
- Receivables within one year +€41,439
up €41,439 (+197%), from €21,000 to €62,439
of which Trade receivables: +€62,439
- Cash -€28,757
down €28,757 (-95.1%), from €30,243 to €1,486
mainly Investment in fixed assets (net) (-€810,475) and Other debts (-€234,216)
- Revaluation surpluses +€1.2m
new in 2025: €1.2m
- Other debts -€234,216
down €234,216 (-99.5%), from €235,379 to €1,162
- Profit (loss) carried forward -€90,333
down €90,333 (-96.2%), from €93,929 to €3,595
- Reserves -€79,225
down €79,225 (-12.1%), from €654,329 to €575,104
of which Distributable reserves: -€334,103
- Provisions -€52,264
down €52,264 (-21.6%), from €241,899 to €189,635
of which Provisions for liabilities and charges: -€68,974
- Gross operating margin +€541,310
up €541,310 (+540%), from €100,259 to €641,569
- Other operating charges +€242,127
up €242,127 (+1,192%), from €20,311 to €262,438
- Financial charges -€41,933
down €41,933 (-75.3%), from €55,698 to €13,765
- Depreciation -€24,140
down €24,140 (-33.2%), from €72,691 to €48,551
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 | €1,725,542 | €2,497,319 | +€771,777 | +44.7% |
| Fixed assets | 21/28 | €1,661,705 | €2,423,630 | +€761,925 | +45.9% |
| Tangible fixed assets | 22/27 | €1,661,705 | €2,423,630 | +€761,925 | +45.9% |
| Land and buildings | 22 | €1,653,328 | €2,418,500 | +€765,172 | +46.3% |
| Plant, machinery and equipment | 23 | €1,842 | - | -€1,842 | |
| Furniture and vehicles | 24 | €4,685 | €2,025 | -€2,660 | -56.8% |
| Other tangible fixed assets | 26 | €1,850 | €3,105 | +€1,255 | +67.8% |
| Current assets | 29/58 | €63,837 | €73,689 | +€9,852 | +15.4% |
| Amounts receivable within one year | 40/41 | €21,000 | €62,439 | +€41,439 | +197% |
| Trade receivables | 40 | - | €62,439 | +€62,439 | |
| Other amounts receivable | 41 | €21,000 | - | -€21,000 | |
| Current investments | 50/53 | €12,594 | €9,763 | -€2,830 | -22.5% |
| Cash at bank and in hand | 54/58 | €30,243 | €1,486 | -€28,757 | -95.1% |
| Total equity and liabilities | 10/49 | €1,725,542 | €2,497,319 | +€771,777 | +44.7% |
| Equity | 10/15 | €810,231 | €1,889,694 | +€1.1m | +133% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,249,022 | +€1.2m | |
| Reserves | 13 | €654,329 | €575,104 | -€79,225 | -12.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €314,028 | €568,906 | +€254,878 | +81.2% |
| Distributable reserves | 133 | €334,103 | - | -€334,103 | |
| Profit (loss) carried forward | 14 | €93,929 | €3,595 | -€90,333 | -96.2% |
| Provisions and deferred taxes | 16 | €241,899 | €189,635 | -€52,264 | -21.6% |
| Provisions for liabilities and charges | 160/5 | €68,974 | - | -€68,974 | |
| Other liabilities and charges | 164/5 | €68,974 | - | -€68,974 | |
| Deferred taxes | 168 | €172,925 | €189,635 | +€16,710 | +9.7% |
| Amounts payable | 17/49 | €673,412 | €417,989 | -€255,423 | -37.9% |
| Amounts payable after more than one year | 17 | €420,000 | €394,469 | -€25,531 | -6.1% |
| Financial debts | 170/4 | €420,000 | €384,611 | -€35,389 | -8.4% |
| Other amounts payable | 178/9 | - | €9,858 | +€9,858 | |
| Amounts payable within one year | 42/48 | €253,412 | €23,520 | -€229,893 | -90.7% |
| Trade debts | 44 | €5,618 | €21,091 | +€15,472 | +275% |
| Suppliers | 440/4 | €5,618 | €21,091 | +€15,472 | +275% |
| Taxes, remuneration and social security | 45 | €12,415 | €1,267 | -€11,149 | -89.8% |
| Taxes | 450/3 | €12,415 | €1,267 | -€11,149 | -89.8% |
| Other amounts payable | 47/48 | €235,379 | €1,162 | -€234,216 | -99.5% |
| Non-recurring operating income | 76A | - | €90,089 | +€90,089 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,691 | €48,551 | -€24,140 | -33.2% |
| Other operating charges | 640/8 | €20,311 | €262,438 | +€242,127 | +1,192% |
| Gross operating margin | 9900 | €100,259 | €641,569 | +€541,310 | +540% |
| Operating profit (loss) | 9901 | €7,257 | €330,580 | +€323,322 | +4,455% |
| Financial income | 75/76B | €1,001 | €1,603 | +€603 | +60.2% |
| Recurring financial income | 75 | €1,001 | €1,603 | +€603 | +60.2% |
| Financial charges | 65/66B | €55,698 | €13,765 | -€41,933 | -75.3% |
| Recurring financial charges | 65 | €55,698 | €13,765 | -€41,933 | -75.3% |
| Profit (loss) for the period before taxes | 9903 | -€47,440 | €318,418 | +€365,858 | |
| Transfer from deferred taxes | 780 | €7,809 | €22,664 | +€14,856 | +190% |
| Transfer to deferred taxes | 680 | - | €87,438 | +€87,438 | |
| Income taxes | 67/77 | - | €1,267 | +€1,267 | |
| Profit (loss) for the period | 9904 | -€39,632 | €252,377 | +€292,009 | |
| Transfer from tax-exempt reserves | 789 | €18,229 | €55,502 | +€37,273 | +204% |
| Transfer to tax-exempt reserves | 689 | - | €262,315 | +€262,315 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,403 | €45,564 | +€66,967 |
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 19 October 2026 via checked.be.