Jules Forget C.E.A.: 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.
What changed
Jules Forget C.E.A.
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€106,806
2024 · €57,077+€49,730
Equity
€1.1m
2024 · €1.1m-€33,194
Cash
€1.0m
2024 · €754,164+€280,352
Balance sheet total
€2.6m
2024 · €2.6m+€67,733
Largest movements
Assets
- Cash +€280,352
up €280,352 (+37.2%), from €754,164 to €1.0m
mainly Receivables within one year (+€198,238) and Depreciation (+€114,168)
- Receivables within one year -€198,238
down €198,238 (-35.0%), from €566,305 to €368,067
of which Trade receivables: -€180,805
Equity and liabilities
- Other debts +€63,375
up €63,375 (+46.5%), from €136,258 to €199,633
- Reserves -€33,005
down €33,005 (-3.2%), from €1.0m to €986,273
of which Tax-exempt reserves: -€64,005
- Trade debts +€30,901
up €30,901 (+12.2%), from €252,555 to €283,456
Income statement
- Gross operating margin +€127,349
up €127,349 (+13.5%), from €943,678 to €1.1m
- Staff costs +€43,689
up €43,689 (+6.1%), from €721,873 to €765,561
- Depreciation +€17,852
up €17,852 (+18.5%), from €96,316 to €114,168
- Taxes +€15,710
up €15,710 (+24.6%), from €63,970 to €79,680
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.
Result 2024
€57,077
Gross operating margin
+€127,349
Staff costs
-€43,689
Depreciation
-€17,852
Other operating charges
-€446
Financial income
+€3,849
Financial charges
-€4,261
Taxes
-€15,710
Deferred taxes and other
+€489
Result 2025
€106,806
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€490,247
Investment
-€88,577
Financing
-€121,318
Cash 2024
€754,164
From operations (derived)
+€490,247
Net result for the year
+€106,806
Depreciation
+€114,168
Stocks and contracts
-€3,000
Receivables within one year
+€198,238
Deferred charges and accrued income
-€8,209
Provisions
-€21,335
Trade debts
+€30,901
Tax, wage and social debts
+€14,635
Advances received
+€17,361
Other debts
+€63,375
Accrued charges and deferred income
-€22,692
Investment (derived)
-€88,577
Investment in fixed assets (net)
-€88,577
Financing
-€121,318
Debts after one year
+€8,681
Current portion of long-term debt
+€10,001
Contributions, distributions and other
-€140,000
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,560,294 | €2,628,027 | +€67,733 | +2.6% |
| Fixed assets | 21/28 | €1,135,849 | €1,110,259 | -€25,590 | -2.3% |
| Tangible fixed assets | 22/27 | €1,131,479 | €1,105,889 | -€25,590 | -2.3% |
| Land and buildings | 22 | €1,030,027 | €978,869 | -€51,159 | -5.0% |
| Plant, machinery and equipment | 23 | €41,392 | €42,583 | +€1,191 | +2.9% |
| Furniture and vehicles | 24 | €60,060 | €84,437 | +€24,377 | +40.6% |
| Financial fixed assets | 28 | €4,370 | €4,370 | = | 0.0% |
| Current assets | 29/58 | €1,424,445 | €1,517,768 | +€93,324 | +6.6% |
| Stocks and contracts in progress | 3 | €93,000 | €96,000 | +€3,000 | +3.2% |
| Stocks | 30/36 | €61,000 | €96,000 | +€35,000 | +57.4% |
| Contracts in progress | 37 | €32,000 | - | -€32,000 | |
| Amounts receivable within one year | 40/41 | €566,305 | €368,067 | -€198,238 | -35.0% |
| Trade receivables | 40 | €518,826 | €338,021 | -€180,805 | -34.8% |
| Other amounts receivable | 41 | €47,478 | €30,045 | -€17,433 | -36.7% |
| Cash at bank and in hand | 54/58 | €754,164 | €1,034,516 | +€280,352 | +37.2% |
| Deferred charges and accrued income | 490/1 | €10,976 | €19,185 | +€8,209 | +74.8% |
| Total equity and liabilities | 10/49 | €2,560,294 | €2,628,027 | +€67,733 | +2.6% |
| Equity | 10/15 | €1,110,208 | €1,077,014 | -€33,194 | -3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,019,278 | €986,273 | -€33,005 | -3.2% |
| Non-distributable reserves | 130/1 | €25,595 | €25,595 | = | 0.0% |
| Legal reserve | 130 | €25,595 | €25,595 | = | 0.0% |
| Tax-exempt reserves | 132 | €636,084 | €572,079 | -€64,005 | -10.1% |
| Distributable reserves | 133 | €357,600 | €388,600 | +€31,000 | +8.7% |
| Profit (loss) carried forward | 14 | €212 | €22 | -€189 | -89.4% |
| Investment grants | 15 | €28,718 | €28,718 | = | 0.0% |
| Provisions and deferred taxes | 16 | €212,028 | €190,693 | -€21,335 | -10.1% |
| Deferred taxes | 168 | €212,028 | €190,693 | -€21,335 | -10.1% |
| Amounts payable | 17/49 | €1,238,058 | €1,360,321 | +€122,262 | +9.9% |
| Amounts payable after more than one year | 17 | €103,545 | €112,227 | +€8,681 | +8.4% |
| Financial debts | 170/4 | €103,545 | €112,227 | +€8,681 | +8.4% |
| Amounts payable within one year | 42/48 | €1,102,971 | €1,239,244 | +€136,273 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €19,817 | €29,818 | +€10,001 | +50.5% |
| Trade debts | 44 | €252,555 | €283,456 | +€30,901 | +12.2% |
| Suppliers | 440/4 | €252,555 | €283,456 | +€30,901 | +12.2% |
| Advances received on contracts in progress | 46 | €504,532 | €521,893 | +€17,361 | +3.4% |
| Taxes, remuneration and social security | 45 | €189,810 | €204,445 | +€14,635 | +7.7% |
| Taxes | 450/3 | €83,842 | €87,706 | +€3,863 | +4.6% |
| Remuneration and social security | 454/9 | €105,967 | €116,739 | +€10,772 | +10.2% |
| Other amounts payable | 47/48 | €136,258 | €199,633 | +€63,375 | +46.5% |
| Accrued charges and deferred income | 492/3 | €31,542 | €8,850 | -€22,692 | -71.9% |
| Non-recurring operating income | 76A | - | €12,400 | +€12,400 | |
| Remuneration, social security and pensions | 62 | €721,873 | €765,561 | +€43,689 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,316 | €114,168 | +€17,852 | +18.5% |
| Other operating charges | 640/8 | €9,485 | €9,931 | +€446 | +4.7% |
| Gross operating margin | 9900 | €943,678 | €1,071,027 | +€127,349 | +13.5% |
| Operating profit (loss) | 9901 | €116,005 | €181,367 | +€65,362 | +56.3% |
| Financial income | 75/76B | €288 | €4,137 | +€3,849 | +1,335% |
| Recurring financial income | 75 | €288 | €3,085 | +€2,796 | +970% |
| Non-recurring financial income | 76B | - | €1,053 | +€1,053 | |
| Financial charges | 65/66B | €16,092 | €20,353 | +€4,261 | +26.5% |
| Recurring financial charges | 65 | €16,092 | €20,353 | +€4,261 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €100,201 | €165,151 | +€64,950 | +64.8% |
| Transfer from deferred taxes | 780 | €20,845 | €21,335 | +€489 | +2.3% |
| Income taxes | 67/77 | €63,970 | €79,680 | +€15,710 | +24.6% |
| Profit (loss) for the period | 9904 | €57,077 | €106,806 | +€49,730 | +87.1% |
| Transfer from tax-exempt reserves | 789 | €62,536 | €64,005 | +€1,468 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €119,613 | €170,811 | +€51,198 | +42.8% |
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 16 October 2026 via checked.be.