JPZ Value Holding: 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.
JPZ Value Holding
Largest movements
- Cash -€74,950
down €74,950 (-48.9%), from €153,389 to €78,439
mainly Other debts (-€238,623) and Contributions, distributions and other (-€189,346)
- Current investments -€57,410
down €57,410 (-20.2%), from €283,735 to €226,325
- Receivables within one year +€16,478
up €16,478 (+266%), from €6,193 to €22,671
of which Other amounts receivable: +€19,478
- Other debts -€238,623
down €238,623 (-55.3%), from €431,345 to €192,722
- Debts after one year +€200,000
new in 2025: €200,000
- Profit (loss) carried forward -€79,295
down €79,295 (-100%), from €79,295 to €0
- Financial income -€236,835
down €236,835 (-91.6%), from €258,667 to €21,832
- Financial charges -€36,516
down €36,516, from €32,799 to -€3,717
- Gross operating margin -€24,437
down €24,437 (-16.5%), from €147,717 to €123,280
- Taxes -€4,003
down €4,003 (-9.9%), from €40,549 to €36,547
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 | €548,296 | €433,536 | -€114,759 | -20.9% |
| Fixed assets | 21/28 | €104,229 | €102,398 | -€1,831 | -1.8% |
| Tangible fixed assets | 22/27 | €8,079 | €6,248 | -€1,831 | -22.7% |
| Furniture and vehicles | 24 | €8,079 | €6,248 | -€1,831 | -22.7% |
| Financial fixed assets | 28 | €96,150 | €96,150 | = | 0.0% |
| Current assets | 29/58 | €444,067 | €331,138 | -€112,929 | -25.4% |
| Amounts receivable within one year | 40/41 | €6,193 | €22,671 | +€16,478 | +266% |
| Trade receivables | 40 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Other amounts receivable | 41 | €193 | €19,671 | +€19,478 | +10,102% |
| Current investments | 50/53 | €283,735 | €226,325 | -€57,410 | -20.2% |
| Cash at bank and in hand | 54/58 | €153,389 | €78,439 | -€74,950 | -48.9% |
| Deferred charges and accrued income | 490/1 | €750 | €3,703 | +€2,953 | +394% |
| Total equity and liabilities | 10/49 | €548,296 | €433,536 | -€114,759 | -20.9% |
| Equity | 10/15 | €110,655 | €31,360 | -€79,295 | -71.7% |
| Contributions | 10/11 | €31,360 | €31,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,295 | €0 | -€79,295 | -100% |
| Amounts payable | 17/49 | €437,641 | €402,176 | -€35,464 | -8.1% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Other amounts payable | 178/9 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €437,641 | €202,176 | -€235,464 | -53.8% |
| Trade debts | 44 | €5,897 | €9,455 | +€3,558 | +60.3% |
| Suppliers | 440/4 | €5,897 | €9,455 | +€3,558 | +60.3% |
| Taxes, remuneration and social security | 45 | €399 | €0 | -€399 | -100% |
| Taxes | 450/3 | €399 | €0 | -€399 | -100% |
| Other amounts payable | 47/48 | €431,345 | €192,722 | -€238,623 | -55.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,076 | €1,831 | +€755 | +70.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €147,717 | €123,280 | -€24,437 | -16.5% |
| Operating profit (loss) | 9901 | €146,254 | €121,049 | -€25,205 | -17.2% |
| Financial income | 75/76B | €258,667 | €21,832 | -€236,835 | -91.6% |
| Recurring financial income | 75 | €258,667 | €21,832 | -€236,835 | -91.6% |
| Financial charges | 65/66B | €32,799 | -€3,717 | -€36,516 | |
| Recurring financial charges | 65 | €32,799 | -€3,717 | -€36,516 | |
| Profit (loss) for the period before taxes | 9903 | €372,122 | €146,598 | -€225,525 | -60.6% |
| Income taxes | 67/77 | €40,549 | €36,547 | -€4,003 | -9.9% |
| Profit (loss) for the period | 9904 | €331,573 | €110,051 | -€221,522 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €331,573 | €110,051 | -€221,522 | -66.8% |
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 26 October 2026 via checked.be.