JTFR: 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.
JTFR
Largest movements
- Cash +€12,032
up €12,032 (+33.5%), from €35,913 to €47,944
mainly Net result for the year (+€19,593) and Depreciation (+€1,520)
- Receivables within one year +€3,011
up €3,011 (+55.3%), from €5,445 to €8,456
of which Other amounts receivable: +€2,648
- Reserves +€19,593
up €19,593 (+57.6%), from €33,988 to €53,581
- Tax, wage and social debts -€4,496
down €4,496 (-61.0%), from €7,368 to €2,872
- Gross operating margin -€16,487
down €16,487 (-37.4%), from €44,051 to €27,564
- Taxes -€3,327
down €3,327 (-38.3%), from €8,680 to €5,352
- Depreciation +€555
up €555 (+57.4%), from €966 to €1,520
- Other operating charges +€504
up €504 (+100.7%), from €501 to €1,006
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 | €45,636 | €60,862 | +€15,227 | +33.4% |
| Fixed assets | 21/28 | €4,278 | €4,462 | +€184 | +4.3% |
| Tangible fixed assets | 22/27 | €4,278 | €4,462 | +€184 | +4.3% |
| Furniture and vehicles | 24 | €4,278 | €4,462 | +€184 | +4.3% |
| Current assets | 29/58 | €41,358 | €56,400 | +€15,042 | +36.4% |
| Amounts receivable within one year | 40/41 | €5,445 | €8,456 | +€3,011 | +55.3% |
| Trade receivables | 40 | €5,445 | €5,808 | +€363 | +6.7% |
| Other amounts receivable | 41 | - | €2,648 | +€2,648 | |
| Cash at bank and in hand | 54/58 | €35,913 | €47,944 | +€12,032 | +33.5% |
| Total equity and liabilities | 10/49 | €45,636 | €60,862 | +€15,227 | +33.4% |
| Equity | 10/15 | €35,988 | €55,581 | +€19,593 | +54.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €33,988 | €53,581 | +€19,593 | +57.6% |
| Distributable reserves | 133 | €33,988 | €53,581 | +€19,593 | +57.6% |
| Amounts payable | 17/49 | €9,648 | €5,281 | -€4,367 | -45.3% |
| Amounts payable within one year | 42/48 | €9,648 | €5,281 | -€4,367 | -45.3% |
| Trade debts | 44 | €126 | €28 | -€98 | -77.6% |
| Suppliers | 440/4 | €126 | €28 | -€98 | -77.6% |
| Taxes, remuneration and social security | 45 | €7,368 | €2,872 | -€4,496 | -61.0% |
| Taxes | 450/3 | €7,368 | €2,872 | -€4,496 | -61.0% |
| Other amounts payable | 47/48 | €2,154 | €2,381 | +€227 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €966 | €1,520 | +€555 | +57.4% |
| Other operating charges | 640/8 | €501 | €1,006 | +€504 | +100.7% |
| Gross operating margin | 9900 | €44,051 | €27,564 | -€16,487 | -37.4% |
| Operating profit (loss) | 9901 | €42,584 | €25,038 | -€17,546 | -41.2% |
| Financial charges | 65/66B | -€83 | €92 | +€175 | |
| Recurring financial charges | 65 | -€83 | €92 | +€175 | |
| Profit (loss) for the period before taxes | 9903 | €42,667 | €24,946 | -€17,721 | -41.5% |
| Income taxes | 67/77 | €8,680 | €5,352 | -€3,327 | -38.3% |
| Profit (loss) for the period | 9904 | €33,988 | €19,593 | -€14,394 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,988 | €19,593 | -€14,394 | -42.4% |
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 4 October 2026 via checked.be.