JTCL: 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.
JTCL
Largest movements
- Intangible fixed assets -€13,950
down €13,950 (-13.8%), from €101,138 to €87,188
- Stocks and contracts -€8,276
down €8,276 (-44.9%), from €18,427 to €10,151
- Receivables within one year -€8,235
down €8,235 (-69.7%), from €11,812 to €3,577
of which Trade receivables: -€8,235
- Tangible fixed assets -€5,268
down €5,268 (-4.0%), from €132,828 to €127,560
of which Other tangible fixed assets: -€10,821
- Other debts -€24,975
down €24,975 (-47.2%), from €52,875 to €27,899
- Profit (loss) carried forward +€21,041
up €21,041, from -€5,840 to €15,200
- Debts after one year -€20,756
down €20,756 (-28.9%), from €71,878 to €51,123
- Trade debts -€12,827
down €12,827 (-41.9%), from €30,588 to €17,761
- Advances received +€4,929
new in 2025: €4,929
- Gross operating margin +€18,177
up €18,177 (+15.3%), from €119,149 to €137,326
- Staff costs +€10,777
up €10,777 (+17.0%), from €63,480 to €74,257
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €271,660 | €235,467 | -€36,193 | -13.3% |
| Formation expenses | 20 | €483 | €253 | -€230 | -47.6% |
| Fixed assets | 21/28 | €240,938 | €221,486 | -€19,451 | -8.1% |
| Intangible fixed assets | 21 | €101,138 | €87,188 | -€13,950 | -13.8% |
| Tangible fixed assets | 22/27 | €132,828 | €127,560 | -€5,268 | -4.0% |
| Plant, machinery and equipment | 23 | €1,755 | €3,677 | +€1,922 | +109.5% |
| Furniture and vehicles | 24 | - | €3,631 | +€3,631 | |
| Other tangible fixed assets | 26 | €131,072 | €120,251 | -€10,821 | -8.3% |
| Financial fixed assets | 28 | €6,973 | €6,739 | -€234 | -3.3% |
| Current assets | 29/58 | €30,239 | €13,728 | -€16,511 | -54.6% |
| Stocks and contracts in progress | 3 | €18,427 | €10,151 | -€8,276 | -44.9% |
| Stocks | 30/36 | €18,427 | €10,151 | -€8,276 | -44.9% |
| Amounts receivable within one year | 40/41 | €11,812 | €3,577 | -€8,235 | -69.7% |
| Trade receivables | 40 | €8,235 | - | -€8,235 | |
| Other amounts receivable | 41 | €3,577 | €3,577 | = | 0.0% |
| Total equity and liabilities | 10/49 | €271,660 | €235,467 | -€36,193 | -13.3% |
| Equity | 10/15 | €54,160 | €75,200 | +€21,041 | +38.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,840 | €15,200 | +€21,041 | |
| Amounts payable | 17/49 | €217,501 | €160,267 | -€57,233 | -26.3% |
| Amounts payable after more than one year | 17 | €71,878 | €51,123 | -€20,756 | -28.9% |
| Financial debts | 170/4 | €71,878 | €51,123 | -€20,756 | -28.9% |
| Amounts payable within one year | 42/48 | €145,622 | €109,145 | -€36,477 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €19,281 | €20,268 | +€987 | +5.1% |
| Financial debts | 43 | €19,939 | €19,206 | -€733 | -3.7% |
| Credit institutions | 430/8 | €19,939 | €19,206 | -€733 | -3.7% |
| Trade debts | 44 | €30,588 | €17,761 | -€12,827 | -41.9% |
| Suppliers | 440/4 | €30,588 | €17,761 | -€12,827 | -41.9% |
| Advances received on contracts in progress | 46 | - | €4,929 | +€4,929 | |
| Taxes, remuneration and social security | 45 | €22,940 | €19,081 | -€3,859 | -16.8% |
| Taxes | 450/3 | €8,649 | €9,733 | +€1,084 | +12.5% |
| Remuneration and social security | 454/9 | €14,291 | €9,348 | -€4,943 | -34.6% |
| Other amounts payable | 47/48 | €52,875 | €27,899 | -€24,975 | -47.2% |
| Remuneration, social security and pensions | 62 | €63,480 | €74,257 | +€10,777 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,936 | €36,129 | +€1,193 | +3.4% |
| Other operating charges | 640/8 | €1,809 | €1,916 | +€108 | +6.0% |
| Gross operating margin | 9900 | €119,149 | €137,326 | +€18,177 | +15.3% |
| Operating profit (loss) | 9901 | €18,925 | €25,025 | +€6,100 | +32.2% |
| Financial income | 75/76B | €1 | €1 | +€0 | +20.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +20.0% |
| Financial charges | 65/66B | €4,898 | €3,985 | -€912 | -18.6% |
| Recurring financial charges | 65 | €4,898 | €3,985 | -€912 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €14,029 | €21,041 | +€7,012 | +50.0% |
| Profit (loss) for the period | 9904 | €14,029 | €21,041 | +€7,012 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,029 | €21,041 | +€7,012 | +50.0% |
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 2 October 2026 via checked.be.