TJE: 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.
TJE
Largest movements
- Receivables after one year +€95,000
up €95,000 (+106%), from €90,000 to €185,000
- Cash -€89,669
down €89,669 (-20.1%), from €445,137 to €355,468
mainly Contributions, distributions and other (-€154,669) and Receivables after one year (-€95,000)
- Current investments +€30,000
up €30,000 (+17.6%), from €170,000 to €200,000
- Deferred charges and accrued income -€14,078
down €14,078 (-87.5%), from €16,095 to €2,016
- Reserves +€15,691
up €15,691 (+1.4%), from €1.2m to €1.2m
of which Distributable reserves: +€15,691
- Staff costs +€60,375
up €60,375 (+126%), from €47,762 to €108,136
- Gross operating margin +€26,157
up €26,157 (+6.7%), from €387,952 to €414,109
- Taxes -€13,102
down €13,102 (-14.9%), from €87,705 to €74,603
- Financial income -€6,246
down €6,246 (-64.3%), from €9,709 to €3,463
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 | €1,233,182 | €1,265,739 | +€32,557 | +2.6% |
| Fixed assets | 21/28 | €490,015 | €494,699 | +€4,684 | +1.0% |
| Tangible fixed assets | 22/27 | €490,015 | €494,699 | +€4,684 | +1.0% |
| Land and buildings | 22 | €360,545 | €386,967 | +€26,423 | +7.3% |
| Plant, machinery and equipment | 23 | €77,021 | €63,320 | -€13,701 | -17.8% |
| Furniture and vehicles | 24 | €52,450 | €44,411 | -€8,038 | -15.3% |
| Current assets | 29/58 | €743,167 | €771,040 | +€27,873 | +3.8% |
| Amounts receivable after more than one year | 29 | €90,000 | €185,000 | +€95,000 | +106% |
| Other amounts receivable | 291 | €90,000 | €185,000 | +€95,000 | +106% |
| Amounts receivable within one year | 40/41 | €21,935 | €28,555 | +€6,620 | +30.2% |
| Trade receivables | 40 | €118 | €4,300 | +€4,183 | +3,560% |
| Other amounts receivable | 41 | €21,818 | €24,255 | +€2,438 | +11.2% |
| Current investments | 50/53 | €170,000 | €200,000 | +€30,000 | +17.6% |
| Cash at bank and in hand | 54/58 | €445,137 | €355,468 | -€89,669 | -20.1% |
| Deferred charges and accrued income | 490/1 | €16,095 | €2,016 | -€14,078 | -87.5% |
| Total equity and liabilities | 10/49 | €1,233,182 | €1,265,739 | +€32,557 | +2.6% |
| Equity | 10/15 | €1,173,638 | €1,189,329 | +€15,691 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,155,038 | €1,170,729 | +€15,691 | +1.4% |
| Tax-exempt reserves | 132 | €48,381 | €48,381 | = | 0.0% |
| Distributable reserves | 133 | €1,106,656 | €1,122,347 | +€15,691 | +1.4% |
| Amounts payable | 17/49 | €59,545 | €76,410 | +€16,866 | +28.3% |
| Amounts payable within one year | 42/48 | €39,545 | €55,120 | +€15,576 | +39.4% |
| Trade debts | 44 | €8,064 | €17,506 | +€9,442 | +117% |
| Suppliers | 440/4 | €8,064 | €17,506 | +€9,442 | +117% |
| Taxes, remuneration and social security | 45 | €28,138 | €34,326 | +€6,189 | +22.0% |
| Taxes | 450/3 | €19,841 | €17,036 | -€2,805 | -14.1% |
| Remuneration and social security | 454/9 | €8,296 | €17,290 | +€8,994 | +108% |
| Other amounts payable | 47/48 | €3,343 | €3,288 | -€55 | -1.7% |
| Accrued charges and deferred income | 492/3 | €20,000 | €21,290 | +€1,290 | +6.5% |
| Remuneration, social security and pensions | 62 | €47,762 | €108,136 | +€60,375 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,623 | €61,108 | +€486 | +0.8% |
| Other operating charges | 640/8 | €3,099 | €3,364 | +€265 | +8.6% |
| Gross operating margin | 9900 | €387,952 | €414,109 | +€26,157 | +6.7% |
| Operating profit (loss) | 9901 | €276,469 | €241,500 | -€34,969 | -12.6% |
| Financial income | 75/76B | €9,709 | €3,463 | -€6,246 | -64.3% |
| Recurring financial income | 75 | €9,709 | €3,463 | -€6,246 | -64.3% |
| Financial charges | 65/66B | €60 | - | -€60 | |
| Recurring financial charges | 65 | €60 | - | -€60 | |
| Profit (loss) for the period before taxes | 9903 | €286,118 | €244,963 | -€41,155 | -14.4% |
| Income taxes | 67/77 | €87,705 | €74,603 | -€13,102 | -14.9% |
| Profit (loss) for the period | 9904 | €198,413 | €170,360 | -€28,053 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €198,413 | €170,360 | -€28,053 | -14.1% |
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.