JPI: 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.
What changed
JPI
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,472
2024 · -€11,712+€44,184
Equity
€1.8m
2024 · €1.8m+€32,472
Cash
€276,896
2024 · €248,330+€28,566
Balance sheet total
€3.7m
2024 · €3.8m-€105,584
Largest movements
Assets
- Tangible fixed assets -€134,847
down €134,847 (-3.9%), from €3.5m to €3.4m
of which Land and buildings: -€122,998
Equity and liabilities
- Debts after one year -€200,000
down €200,000 (-12.1%), from €1.7m to €1.5m
- Other debts +€57,409
up €57,409 (+27.1%), from €211,515 to €268,924
- Profit (loss) carried forward +€40,804
up €40,804 (+18.2%), from -€223,678 to -€182,874
Income statement
- Taxes -€43,753
down €43,753 (-77.3%), from €56,636 to €12,883
- Financial charges -€26,240
down €26,240 (-19.2%), from €136,495 to €110,256
- Gross operating margin -€25,104
down €25,104 (-7.3%), from €346,056 to €320,953
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.
Result 2024
-€11,712
Gross operating margin
-€25,104
Depreciation
-€508
Other operating charges
-€240
Financial charges
+€26,240
Taxes
+€43,753
Deferred taxes and other
+€43
Result 2025
€32,472
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€242,358
Investment
-€13,792
Financing
-€200,000
Cash 2024
€248,330
From operations (derived)
+€242,358
Net result for the year
+€32,472
Depreciation
+€148,639
Receivables within one year
-€637
Smaller working-capital items
+€27
Provisions
-€4,290
Trade debts
+€16,638
Tax, wage and social debts
-€7,899
Other debts
+€57,409
Investment (derived)
-€13,792
Investment in fixed assets (net)
-€13,792
Financing
-€200,000
Debts after one year
-€200,000
Cash 2025
€276,896
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,785,452 | €3,679,868 | -€105,584 | -2.8% |
| Fixed assets | 21/28 | €3,489,441 | €3,354,594 | -€134,847 | -3.9% |
| Tangible fixed assets | 22/27 | €3,489,441 | €3,354,594 | -€134,847 | -3.9% |
| Land and buildings | 22 | €3,454,565 | €3,331,567 | -€122,998 | -3.6% |
| Furniture and vehicles | 24 | €34,876 | €23,027 | -€11,849 | -34.0% |
| Current assets | 29/58 | €296,011 | €325,274 | +€29,263 | +9.9% |
| Amounts receivable within one year | 40/41 | €37,006 | €37,643 | +€637 | +1.7% |
| Trade receivables | 40 | €29,448 | €30,072 | +€624 | +2.1% |
| Other amounts receivable | 41 | €7,558 | €7,571 | +€13 | +0.2% |
| Cash at bank and in hand | 54/58 | €248,330 | €276,896 | +€28,566 | +11.5% |
| Deferred charges and accrued income | 490/1 | €10,675 | €10,734 | +€59 | +0.6% |
| Total equity and liabilities | 10/49 | €3,785,452 | €3,679,868 | -€105,584 | -2.8% |
| Equity | 10/15 | €1,755,242 | €1,787,715 | +€32,472 | +1.9% |
| Contributions | 10/11 | €1,700,000 | €1,700,000 | = | 0.0% |
| Capital | 10 | €1,700,000 | €1,700,000 | = | 0.0% |
| Issued capital | 100 | €1,700,000 | €1,700,000 | = | 0.0% |
| Reserves | 13 | €278,920 | €270,588 | -€8,332 | -3.0% |
| Non-distributable reserves | 130/1 | €66,833 | €66,833 | = | 0.0% |
| Legal reserve | 130 | €66,833 | €66,833 | = | 0.0% |
| Tax-exempt reserves | 132 | €212,087 | €203,755 | -€8,332 | -3.9% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€223,678 | -€182,874 | +€40,804 | +18.2% |
| Provisions and deferred taxes | 16 | €109,208 | €104,918 | -€4,290 | -3.9% |
| Deferred taxes | 168 | €109,208 | €104,918 | -€4,290 | -3.9% |
| Amounts payable | 17/49 | €1,921,001 | €1,787,235 | -€133,766 | -7.0% |
| Amounts payable after more than one year | 17 | €1,650,000 | €1,450,000 | -€200,000 | -12.1% |
| Other amounts payable | 178/9 | €1,650,000 | €1,450,000 | -€200,000 | -12.1% |
| Amounts payable within one year | 42/48 | €271,001 | €337,149 | +€66,148 | +24.4% |
| Trade debts | 44 | €0 | €16,638 | +€16,638 | |
| Suppliers | 440/4 | €0 | €16,638 | +€16,638 | |
| Taxes, remuneration and social security | 45 | €59,486 | €51,587 | -€7,899 | -13.3% |
| Taxes | 450/3 | €59,486 | €51,587 | -€7,899 | -13.3% |
| Other amounts payable | 47/48 | €211,515 | €268,924 | +€57,409 | +27.1% |
| Accrued charges and deferred income | 492/3 | €0 | €86 | +€86 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,131 | €148,639 | +€508 | +0.3% |
| Other operating charges | 640/8 | €20,754 | €20,994 | +€240 | +1.2% |
| Gross operating margin | 9900 | €346,056 | €320,953 | -€25,104 | -7.3% |
| Operating profit (loss) | 9901 | €177,172 | €151,320 | -€25,852 | -14.6% |
| Financial charges | 65/66B | €136,495 | €110,256 | -€26,240 | -19.2% |
| Recurring financial charges | 65 | €136,495 | €110,256 | -€26,240 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €40,677 | €41,065 | +€388 | +1.0% |
| Transfer from deferred taxes | 780 | €4,247 | €4,290 | +€43 | +1.0% |
| Income taxes | 67/77 | €56,636 | €12,883 | -€43,753 | -77.3% |
| Profit (loss) for the period | 9904 | -€11,712 | €32,472 | +€44,184 | |
| Transfer from tax-exempt reserves | 789 | €8,249 | €8,332 | +€83 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,463 | €40,804 | +€44,267 |
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 21 October 2026 via checked.be.