The Jep: 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 Jep
Largest movements
- Receivables after one year +€230,368
up €230,368 (+97.7%), from €235,699 to €466,067
- Current investments -€225,909
down €225,909 (-29.3%), from €771,339 to €545,430
- Receivables within one year +€84,162
up €84,162 (+20.5%), from €409,949 to €494,111
- Cash -€35,815
down €35,815 (-7.4%), from €485,660 to €449,845
mainly Receivables after one year (-€230,368) and Receivables within one year (-€84,162)
- Profit (loss) carried forward +€37,289
up €37,289 (+4.7%), from -€788,490 to -€751,201
- Gross operating margin +€14,039
up €14,039, from -€10,323 to €3,716
- Taxes +€8,104
up €8,104 (+90.0%), from €9,007 to €17,111
- Financial income -€6,077
down €6,077 (-12.1%), from €50,331 to €44,255
- Financial charges +€2,079
up €2,079 (+21.6%), from -€9,626 to -€7,547
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 | €1,902,647 | €1,955,453 | +€52,806 | +2.8% |
| Current assets | 29/58 | €1,902,647 | €1,955,453 | +€52,806 | +2.8% |
| Amounts receivable after more than one year | 29 | €235,699 | €466,067 | +€230,368 | +97.7% |
| Other amounts receivable | 291 | €235,699 | €466,067 | +€230,368 | +97.7% |
| Amounts receivable within one year | 40/41 | €409,949 | €494,111 | +€84,162 | +20.5% |
| Other amounts receivable | 41 | €409,949 | €494,111 | +€84,162 | +20.5% |
| Current investments | 50/53 | €771,339 | €545,430 | -€225,909 | -29.3% |
| Cash at bank and in hand | 54/58 | €485,660 | €449,845 | -€35,815 | -7.4% |
| Total equity and liabilities | 10/49 | €1,902,647 | €1,955,453 | +€52,806 | +2.8% |
| Equity | 10/15 | €1,895,510 | €1,932,799 | +€37,289 | +2.0% |
| Contributions | 10/11 | €2,684,000 | €2,684,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€788,490 | -€751,201 | +€37,289 | +4.7% |
| Amounts payable | 17/49 | €7,137 | €22,653 | +€15,516 | +217% |
| Amounts payable within one year | 42/48 | €7,137 | €22,653 | +€15,516 | +217% |
| Trade debts | 44 | - | €998 | +€998 | |
| Suppliers | 440/4 | - | €998 | +€998 | |
| Taxes, remuneration and social security | 45 | €7,137 | €21,655 | +€14,518 | +203% |
| Taxes | 450/3 | €7,137 | €21,655 | +€14,518 | +203% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€10,323 | €3,716 | +€14,039 | |
| Operating profit (loss) | 9901 | -€11,408 | €2,598 | +€14,006 | |
| Financial income | 75/76B | €50,331 | €44,255 | -€6,077 | -12.1% |
| Recurring financial income | 75 | €50,331 | €44,255 | -€6,077 | -12.1% |
| Financial charges | 65/66B | -€9,626 | -€7,547 | +€2,079 | +21.6% |
| Recurring financial charges | 65 | -€9,626 | -€7,547 | +€2,079 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €48,549 | €54,400 | +€5,851 | +12.1% |
| Income taxes | 67/77 | €9,007 | €17,111 | +€8,104 | +90.0% |
| Profit (loss) for the period | 9904 | €39,542 | €37,289 | -€2,253 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,542 | €37,289 | -€2,253 | -5.7% |
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 13 October 2026 via checked.be.