JPEL: 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.
JPEL
Largest movements
- Cash -€103,967
down €103,967 (-53.2%), from €195,341 to €91,373
mainly Contributions, distributions and other (-€235,936) and Other debts (-€85,067)
- Receivables within one year +€16,430
up €16,430 (+448.8%), from €3,661 to €20,091
of which Other amounts receivable: +€15,961
- Tangible fixed assets +€3,539
up €3,539 (+53.5%), from €6,619 to €10,157
of which Other tangible fixed assets: +€5,500
- Other debts -€85,067
down €85,067 (-53.0%), from €160,598 to €75,531
- Gross operating margin +€69,309
up €69,309 (+28.7%), from €241,456 to €310,764
- Taxes +€17,571
up €17,571 (+31.9%), from €55,014 to €72,586
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 | €205,620 | €121,622 | -€83,999 | -40.9% |
| Fixed assets | 21/28 | €6,619 | €10,157 | +€3,539 | +53.5% |
| Tangible fixed assets | 22/27 | €6,619 | €10,157 | +€3,539 | +53.5% |
| Furniture and vehicles | 24 | €6,619 | €4,657 | -€1,961 | -29.6% |
| Other tangible fixed assets | 26 | - | €5,500 | +€5,500 | |
| Current assets | 29/58 | €199,002 | €111,465 | -€87,537 | -44.0% |
| Amounts receivable within one year | 40/41 | €3,661 | €20,091 | +€16,430 | +448.8% |
| Trade receivables | 40 | - | €469 | +€469 | |
| Other amounts receivable | 41 | €3,661 | €19,622 | +€15,961 | +436.0% |
| Cash at bank and in hand | 54/58 | €195,341 | €91,373 | -€103,967 | -53.2% |
| Total equity and liabilities | 10/49 | €205,620 | €121,622 | -€83,999 | -40.9% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €200,620 | €116,622 | -€83,999 | -41.9% |
| Amounts payable within one year | 42/48 | €200,620 | €116,622 | -€83,999 | -41.9% |
| Trade debts | 44 | €1,000 | €1,000 | = | 0.0% |
| Suppliers | 440/4 | €1,000 | €1,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €39,022 | €40,091 | +€1,068 | +2.7% |
| Taxes | 450/3 | €39,022 | €40,091 | +€1,068 | +2.7% |
| Other amounts payable | 47/48 | €160,598 | €75,531 | -€85,067 | -53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,961 | €1,961 | = | 0.0% |
| Other operating charges | 640/8 | €778 | €400 | -€378 | -48.6% |
| Gross operating margin | 9900 | €241,456 | €310,764 | +€69,309 | +28.7% |
| Operating profit (loss) | 9901 | €238,717 | €308,403 | +€69,687 | +29.2% |
| Financial income | 75/76B | - | €401 | +€401 | |
| Recurring financial income | 75 | - | €401 | +€401 | |
| Financial charges | 65/66B | €322 | €282 | -€40 | -12.4% |
| Recurring financial charges | 65 | €322 | €282 | -€40 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €238,394 | €308,522 | +€70,127 | +29.4% |
| Income taxes | 67/77 | €55,014 | €72,586 | +€17,571 | +31.9% |
| Profit (loss) for the period | 9904 | €183,380 | €235,936 | +€52,556 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,380 | €235,936 | +€52,556 | +28.7% |
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 1 October 2026 via checked.be.