JFL: 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.
JFL
Largest movements
- Receivables within one year +€120,000
up €120,000, from €0 to €120,000
of which Other amounts receivable: +€120,000
- Cash +€65,391
up €65,391 (+2,704%), from €2,418 to €67,809
mainly Net result for the year (+€139,978) and Other debts (+€135,425)
- Tangible fixed assets -€29,022
down €29,022 (-7.0%), from €413,674 to €384,652
of which Land and buildings: -€28,394
- Other debts +€135,425
up €135,425 (+1,609%), from €8,416 to €143,841
- Reserves +€19,978
up €19,978 (+5.9%), from €339,684 to €359,662
- Gross operating margin +€119,707
up €119,707 (+103%), from €115,967 to €235,673
- Taxes +€31,331
up €31,331 (+178%), from €17,638 to €48,969
- Financial charges -€4,470
down €4,470 (-100.0%), from €4,472 to €2
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 | €416,092 | €572,461 | +€156,369 | +37.6% |
| Fixed assets | 21/28 | €413,674 | €384,652 | -€29,022 | -7.0% |
| Tangible fixed assets | 22/27 | €413,674 | €384,652 | -€29,022 | -7.0% |
| Land and buildings | 22 | €412,108 | €383,715 | -€28,394 | -6.9% |
| Plant, machinery and equipment | 23 | €1,566 | €938 | -€628 | -40.1% |
| Current assets | 29/58 | €2,418 | €187,809 | +€185,391 | +7,667% |
| Amounts receivable within one year | 40/41 | €0 | €120,000 | +€120,000 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €2,418 | €67,809 | +€65,391 | +2,704% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €416,092 | €572,461 | +€156,369 | +37.6% |
| Equity | 10/15 | €358,234 | €378,212 | +€19,978 | +5.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €339,684 | €359,662 | +€19,978 | +5.9% |
| Distributable reserves | 133 | €339,684 | €359,662 | +€19,978 | +5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,858 | €194,249 | +€136,391 | +236% |
| Amounts payable within one year | 42/48 | €57,858 | €194,249 | +€136,391 | +236% |
| Taxes, remuneration and social security | 45 | €49,442 | €50,408 | +€966 | +2.0% |
| Taxes | 450/3 | €49,442 | €50,408 | +€966 | +2.0% |
| Other amounts payable | 47/48 | €8,416 | €143,841 | +€135,425 | +1,609% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,022 | €29,022 | = | 0.0% |
| Other operating charges | 640/8 | €17,746 | €17,703 | -€43 | -0.2% |
| Gross operating margin | 9900 | €115,967 | €235,673 | +€119,707 | +103% |
| Operating profit (loss) | 9901 | €69,198 | €188,948 | +€119,750 | +173% |
| Financial charges | 65/66B | €4,472 | €2 | -€4,470 | -100.0% |
| Recurring financial charges | 65 | €4,472 | €2 | -€4,470 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €64,727 | €188,947 | +€124,220 | +192% |
| Income taxes | 67/77 | €17,638 | €48,969 | +€31,331 | +178% |
| Profit (loss) for the period | 9904 | €47,089 | €139,978 | +€92,889 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €47,089 | €139,978 | +€92,889 | +197% |
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 14 October 2026 via checked.be.