THE JANE: 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.
THE JANE
Largest movements
- Tangible fixed assets +€127,397
up €127,397 (+33.2%), from €383,456 to €510,853
of which Assets under construction and advance payments: +€372,045
- Cash -€105,617
down €105,617 (-69.1%), from €152,855 to €47,238
mainly Net result for the year (-€483,856) and Investment in fixed assets (net) (-€218,227)
- Receivables within one year -€65,221
down €65,221 (-32.2%), from €202,576 to €137,355
of which Trade receivables: -€72,757
- Deferred charges and accrued income +€47,511
up €47,511 (+60.5%), from €78,575 to €126,086
- Stocks and contracts -€45,093
down €45,093 (-8.5%), from €527,685 to €482,592
- Debts after one year +€467,178
new in 2025: €467,178
- Reserves -€264,598
down €264,598 (-93.0%), from €284,598 to €20,000
of which Distributable reserves: -€264,598
- Profit (loss) carried forward -€219,258
down €219,258, from €0 to -€219,258
- Short-term financial debts +€152,174
up €152,174 (+152.2%), from €99,969 to €252,143
- Other debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Gross operating margin -€1.3m
down €1.3m (-43.3%), from €3.0m to €1.7m
- Staff costs -€672,676
down €672,676 (-27.1%), from €2.5m to €1.8m
- Depreciation -€105,283
down €105,283 (-53.4%), from €197,237 to €91,954
- Taxes -€66,085
down €66,085 (-99.6%), from €66,333 to €248
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 | €1,348,686 | €1,306,539 | -€42,147 | -3.1% |
| Fixed assets | 21/28 | €386,995 | €513,268 | +€126,273 | +32.6% |
| Tangible fixed assets | 22/27 | €383,456 | €510,853 | +€127,397 | +33.2% |
| Plant, machinery and equipment | 23 | €93,021 | €46,676 | -€46,345 | -49.8% |
| Furniture and vehicles | 24 | €240,600 | €89,083 | -€151,517 | -63.0% |
| Other tangible fixed assets | 26 | €49,835 | €3,049 | -€46,786 | -93.9% |
| Assets under construction and advance payments | 27 | - | €372,045 | +€372,045 | |
| Financial fixed assets | 28 | €3,539 | €2,415 | -€1,124 | -31.8% |
| Current assets | 29/58 | €961,691 | €793,271 | -€168,420 | -17.5% |
| Stocks and contracts in progress | 3 | €527,685 | €482,592 | -€45,093 | -8.5% |
| Stocks | 30/36 | €527,685 | €482,592 | -€45,093 | -8.5% |
| Amounts receivable within one year | 40/41 | €202,576 | €137,355 | -€65,221 | -32.2% |
| Trade receivables | 40 | €202,576 | €129,819 | -€72,757 | -35.9% |
| Other amounts receivable | 41 | €0 | €7,536 | +€7,536 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €152,855 | €47,238 | -€105,617 | -69.1% |
| Deferred charges and accrued income | 490/1 | €78,575 | €126,086 | +€47,511 | +60.5% |
| Total equity and liabilities | 10/49 | €1,348,686 | €1,306,539 | -€42,147 | -3.1% |
| Equity | 10/15 | €484,598 | €742 | -€483,856 | -99.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €284,598 | €20,000 | -€264,598 | -93.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €264,598 | €0 | -€264,598 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€219,258 | -€219,258 | |
| Amounts payable | 17/49 | €864,088 | €1,305,797 | +€441,709 | +51.1% |
| Amounts payable after more than one year | 17 | - | €467,178 | +€467,178 | |
| Financial debts | 170/4 | - | €467,178 | +€467,178 | |
| Amounts payable within one year | 42/48 | €863,607 | €836,398 | -€27,209 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €99,969 | €252,143 | +€152,174 | +152.2% |
| Credit institutions | 430/8 | €99,969 | €252,143 | +€152,174 | +152.2% |
| Trade debts | 44 | €259,349 | €273,240 | +€13,891 | +5.4% |
| Suppliers | 440/4 | €259,349 | €273,240 | +€13,891 | +5.4% |
| Advances received on contracts in progress | 46 | €176,673 | €135,848 | -€40,825 | -23.1% |
| Taxes, remuneration and social security | 45 | €227,616 | €175,167 | -€52,449 | -23.0% |
| Taxes | 450/3 | €101,654 | €10,688 | -€90,966 | -89.5% |
| Remuneration and social security | 454/9 | €125,962 | €164,479 | +€38,517 | +30.6% |
| Other amounts payable | 47/48 | €100,000 | €0 | -€100,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €481 | €2,221 | +€1,740 | +361.8% |
| Non-recurring operating income | 76A | - | €2,400 | +€2,400 | |
| Remuneration, social security and pensions | 62 | €2,482,065 | €1,809,389 | -€672,676 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,237 | €91,954 | -€105,283 | -53.4% |
| Other operating charges | 640/8 | €12,069 | €7,737 | -€4,332 | -35.9% |
| Non-recurring operating charges | 66A | - | €190,360 | +€190,360 | |
| Gross operating margin | 9900 | €2,968,917 | €1,683,159 | -€1.3m | -43.3% |
| Operating profit (loss) | 9901 | €277,545 | -€416,281 | -€693,826 | |
| Financial income | 75/76B | €3,365 | €297 | -€3,068 | -91.2% |
| Recurring financial income | 75 | €3,365 | €297 | -€3,068 | -91.2% |
| Financial charges | 65/66B | €73,602 | €67,624 | -€5,978 | -8.1% |
| Recurring financial charges | 65 | €73,602 | €67,624 | -€5,978 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €207,308 | -€483,608 | -€690,916 | |
| Income taxes | 67/77 | €66,333 | €248 | -€66,085 | -99.6% |
| Profit (loss) for the period | 9904 | €140,975 | -€483,856 | -€624,831 | |
| Profit (loss) for the period to be appropriated | 9905 | €140,975 | -€483,856 | -€624,831 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.