JPS Project: 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.
JPS Project
Largest movements
- Current investments +€76,674
up €76,674 (+59.9%), from €128,028 to €204,702
- Receivables within one year -€29,492
down €29,492 (-50.5%), from €58,375 to €28,882
of which Trade receivables: -€27,639
- Cash -€14,370
down €14,370 (-94.0%), from €15,285 to €915
mainly Current investments (-€76,674) and Other debts (-€4,075)
- Receivables after one year +€2,500
new in 2025: €2,500
- Reserves +€35,537
up €35,537 (+19.3%), from €184,232 to €219,769
- Other debts -€4,075
down €4,075 (-100.0%), from €4,075 to €0
- Tax, wage and social debts +€3,707
new in 2025: €3,707
- Gross operating margin +€14,741
up €14,741 (+42.8%), from €34,422 to €49,162
- Taxes +€6,357
up €6,357 (+62.2%), from €10,216 to €16,573
- Financial income +€2,604
up €2,604 (+313.1%), from €832 to €3,436
- Financial charges -€887
down €887 (-97.1%), from €913 to €26
- Other operating charges -€504
down €504 (-52.2%), from €966 to €462
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 | €202,667 | €238,002 | +€35,335 | +17.4% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €202,667 | €238,002 | +€35,335 | +17.4% |
| Amounts receivable after more than one year | 29 | - | €2,500 | +€2,500 | |
| Other amounts receivable | 291 | - | €2,500 | +€2,500 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €58,375 | €28,882 | -€29,492 | -50.5% |
| Trade receivables | 40 | €52,262 | €24,623 | -€27,639 | -52.9% |
| Other amounts receivable | 41 | €6,113 | €4,259 | -€1,854 | -30.3% |
| Current investments | 50/53 | €128,028 | €204,702 | +€76,674 | +59.9% |
| Cash at bank and in hand | 54/58 | €15,285 | €915 | -€14,370 | -94.0% |
| Deferred charges and accrued income | 490/1 | €980 | €1,003 | +€23 | +2.4% |
| Total equity and liabilities | 10/49 | €202,667 | €238,002 | +€35,335 | +17.4% |
| Equity | 10/15 | €196,964 | €232,501 | +€35,537 | +18.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €184,232 | €219,769 | +€35,537 | +19.3% |
| Distributable reserves | 133 | €184,232 | €219,769 | +€35,537 | +19.3% |
| Profit (loss) carried forward | 14 | €332 | €332 | = | 0.0% |
| Amounts payable | 17/49 | €5,704 | €5,501 | -€202 | -3.5% |
| Amounts payable within one year | 42/48 | €5,704 | €5,501 | -€202 | -3.5% |
| Trade debts | 44 | €1,629 | €1,794 | +€165 | +10.1% |
| Suppliers | 440/4 | €1,629 | €1,794 | +€165 | +10.1% |
| Taxes, remuneration and social security | 45 | - | €3,707 | +€3,707 | |
| Taxes | 450/3 | - | €3,707 | +€3,707 | |
| Other amounts payable | 47/48 | €4,075 | €0 | -€4,075 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €966 | €462 | -€504 | -52.2% |
| Gross operating margin | 9900 | €34,422 | €49,162 | +€14,741 | +42.8% |
| Operating profit (loss) | 9901 | €33,456 | €48,700 | +€15,245 | +45.6% |
| Financial income | 75/76B | €832 | €3,436 | +€2,604 | +313.1% |
| Recurring financial income | 75 | €832 | €3,436 | +€2,604 | +313.1% |
| Financial charges | 65/66B | €913 | €26 | -€887 | -97.1% |
| Recurring financial charges | 65 | €913 | €26 | -€887 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €33,374 | €52,110 | +€18,735 | +56.1% |
| Income taxes | 67/77 | €10,216 | €16,573 | +€6,357 | +62.2% |
| Profit (loss) for the period | 9904 | €23,158 | €35,537 | +€12,379 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,158 | €35,537 | +€12,379 | +53.5% |
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 12 October 2026 via checked.be.