JPiGal Immo: 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.
JPiGal Immo
Largest movements
- Tangible fixed assets +€98,840
up €98,840 (+11.7%), from €842,726 to €941,565
of which Land and buildings: +€941,565
- Cash -€81,401
down €81,401 (-97.6%), from €83,400 to €1,999
mainly Investment in fixed assets (net) (-€126,956) and Trade debts (-€96,135)
- Receivables within one year +€17,700
up €17,700 (+66.6%), from €26,574 to €44,274
of which Other amounts receivable: +€8,996
- Trade debts -€96,135
down €96,135 (-94.9%), from €101,279 to €5,144
- Short-term financial debts +€70,000
new in 2025: €70,000
- Other debts +€62,053
up €62,053 (+264.2%), from €23,490 to €85,543
- Debts after one year -€38,160
down €38,160 (-5.8%), from €661,231 to €623,071
- Profit (loss) carried forward +€30,265
up €30,265 (+39.3%), from €77,098 to €107,363
- Depreciation +€28,117
up €28,117 (+5305.1%), from €530 to €28,647
- Financial charges +€10,744
up €10,744 (+62.6%), from €17,157 to €27,901
- Gross operating margin +€7,600
up €7,600 (+9.2%), from €82,676 to €90,276
- Taxes +€3,465
up €3,465 (+445.5%), from €778 to €4,243
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 | €955,752 | €989,601 | +€33,849 | +3.5% |
| Formation expenses | 20 | €1,726 | €1,196 | -€530 | -30.7% |
| Fixed assets | 21/28 | €842,726 | €941,565 | +€98,840 | +11.7% |
| Tangible fixed assets | 22/27 | €842,726 | €941,565 | +€98,840 | +11.7% |
| Land and buildings | 22 | - | €941,565 | +€941,565 | |
| Assets under construction and advance payments | 27 | €842,726 | - | -€842,726 | |
| Current assets | 29/58 | €111,300 | €46,840 | -€64,460 | -57.9% |
| Amounts receivable within one year | 40/41 | €26,574 | €44,274 | +€17,700 | +66.6% |
| Trade receivables | 40 | €9,300 | €18,005 | +€8,704 | +93.6% |
| Other amounts receivable | 41 | €17,273 | €26,269 | +€8,996 | +52.1% |
| Cash at bank and in hand | 54/58 | €83,400 | €1,999 | -€81,401 | -97.6% |
| Deferred charges and accrued income | 490/1 | €1,327 | €568 | -€759 | -57.2% |
| Total equity and liabilities | 10/49 | €955,752 | €989,601 | +€33,849 | +3.5% |
| Equity | 10/15 | €127,098 | €157,363 | +€30,265 | +23.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,098 | €107,363 | +€30,265 | +39.3% |
| Amounts payable | 17/49 | €828,654 | €832,238 | +€3,584 | +0.4% |
| Amounts payable after more than one year | 17 | €661,231 | €623,071 | -€38,160 | -5.8% |
| Financial debts | 170/4 | €661,231 | €623,071 | -€38,160 | -5.8% |
| Amounts payable within one year | 42/48 | €165,743 | €207,550 | +€41,808 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €36,813 | €38,160 | +€1,347 | +3.7% |
| Financial debts | 43 | - | €70,000 | +€70,000 | |
| Credit institutions | 430/8 | - | €70,000 | +€70,000 | |
| Trade debts | 44 | €101,279 | €5,144 | -€96,135 | -94.9% |
| Suppliers | 440/4 | €101,279 | €5,144 | -€96,135 | -94.9% |
| Taxes, remuneration and social security | 45 | €4,161 | €8,703 | +€4,542 | +109.2% |
| Taxes | 450/3 | €4,161 | €8,703 | +€4,542 | +109.2% |
| Other amounts payable | 47/48 | €23,490 | €85,543 | +€62,053 | +264.2% |
| Accrued charges and deferred income | 492/3 | €1,681 | €1,617 | -€64 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €530 | €28,647 | +€28,117 | +5305.1% |
| Other operating charges | 640/8 | €404 | €417 | +€13 | +3.2% |
| Gross operating margin | 9900 | €82,676 | €90,276 | +€7,600 | +9.2% |
| Operating profit (loss) | 9901 | €81,742 | €61,213 | -€20,529 | -25.1% |
| Financial income | 75/76B | €698 | €1,196 | +€498 | +71.3% |
| Recurring financial income | 75 | €698 | €1,196 | +€498 | +71.3% |
| Financial charges | 65/66B | €17,157 | €27,901 | +€10,744 | +62.6% |
| Recurring financial charges | 65 | €17,157 | €27,901 | +€10,744 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €65,284 | €34,508 | -€30,776 | -47.1% |
| Income taxes | 67/77 | €778 | €4,243 | +€3,465 | +445.5% |
| Profit (loss) for the period | 9904 | €64,506 | €30,265 | -€34,241 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,506 | €30,265 | -€34,241 | -53.1% |
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 7 October 2026 via checked.be.