JTB Expertise: 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.
JTB Expertise
Largest movements
- Cash +€40,486
up €40,486 (+97.2%), from €41,662 to €82,148
mainly Net result for the year (+€72,646) and Depreciation (+€28,546)
- Tangible fixed assets -€11,046
down €11,046 (-14.5%), from €76,360 to €65,314
of which Plant, machinery and equipment: -€9,555
- Receivables within one year +€5,685
up €5,685 (+12.5%), from €45,477 to €51,162
of which Other amounts receivable: +€6,183
- Profit (loss) carried forward +€72,351
up €72,351 (+462%), from €15,661 to €88,012
- Other debts -€24,008
down €24,008 (-20.3%), from €118,355 to €94,347
- Tax, wage and social debts -€14,381
down €14,381 (-73.5%), from €19,575 to €5,194
of which Taxes: -€14,267
- Gross operating margin +€26,739
up €26,739 (+26.5%), from €100,790 to €127,530
- Depreciation +€17,229
up €17,229 (+152%), from €11,317 to €28,546
- Taxes +€2,771
up €2,771 (+12.6%), from €22,046 to €24,817
- Financial income -€2,504
down €2,504 (-99.8%), from €2,509 to €5
of which Non-recurring financial income: -€2,430
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 | €163,529 | €199,094 | +€35,564 | +21.7% |
| Fixed assets | 21/28 | €76,390 | €65,344 | -€11,046 | -14.5% |
| Tangible fixed assets | 22/27 | €76,360 | €65,314 | -€11,046 | -14.5% |
| Plant, machinery and equipment | 23 | €13,370 | €3,815 | -€9,555 | -71.5% |
| Furniture and vehicles | 24 | €62,990 | €61,499 | -€1,490 | -2.4% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €87,140 | €133,750 | +€46,610 | +53.5% |
| Amounts receivable within one year | 40/41 | €45,477 | €51,162 | +€5,685 | +12.5% |
| Trade receivables | 40 | €31,729 | €31,231 | -€498 | -1.6% |
| Other amounts receivable | 41 | €13,748 | €19,931 | +€6,183 | +45.0% |
| Cash at bank and in hand | 54/58 | €41,662 | €82,148 | +€40,486 | +97.2% |
| Deferred charges and accrued income | 490/1 | - | €439 | +€439 | |
| Total equity and liabilities | 10/49 | €163,529 | €199,094 | +€35,564 | +21.7% |
| Equity | 10/15 | €17,661 | €90,012 | +€72,351 | +410% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,661 | €88,012 | +€72,351 | +462% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €145,868 | €109,082 | -€36,787 | -25.2% |
| Amounts payable within one year | 42/48 | €145,868 | €108,612 | -€37,256 | -25.5% |
| Trade debts | 44 | €7,939 | €8,492 | +€554 | +7.0% |
| Suppliers | 440/4 | €7,939 | €8,492 | +€554 | +7.0% |
| Advances received on contracts in progress | 46 | - | €579 | +€579 | |
| Taxes, remuneration and social security | 45 | €19,575 | €5,194 | -€14,381 | -73.5% |
| Taxes | 450/3 | €15,819 | €1,552 | -€14,267 | -90.2% |
| Remuneration and social security | 454/9 | €3,755 | €3,642 | -€114 | -3.0% |
| Other amounts payable | 47/48 | €118,355 | €94,347 | -€24,008 | -20.3% |
| Accrued charges and deferred income | 492/3 | - | €470 | +€470 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,317 | €28,546 | +€17,229 | +152% |
| Other operating charges | 640/8 | €149 | €766 | +€617 | +415% |
| Non-recurring operating charges | 66A | - | €758 | +€758 | |
| Gross operating margin | 9900 | €100,790 | €127,530 | +€26,739 | +26.5% |
| Operating profit (loss) | 9901 | €89,325 | €97,460 | +€8,135 | +9.1% |
| Financial income | 75/76B | €2,509 | €5 | -€2,504 | -99.8% |
| Recurring financial income | 75 | €79 | €5 | -€74 | -93.6% |
| Non-recurring financial income | 76B | €2,430 | - | -€2,430 | |
| Financial charges | 65/66B | €53 | €2 | -€50 | -95.3% |
| Recurring financial charges | 65 | €53 | €2 | -€50 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €91,781 | €97,463 | +€5,681 | +6.2% |
| Income taxes | 67/77 | €22,046 | €24,817 | +€2,771 | +12.6% |
| Profit (loss) for the period | 9904 | €69,735 | €72,646 | +€2,911 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,735 | €72,646 | +€2,911 | +4.2% |
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 29 October 2026 via checked.be.