BJS: 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.
BJS
Largest movements
- Tangible fixed assets -€133,520
down €133,520 (-6.3%), from €2.1m to €2.0m
of which Land and buildings: -€130,889
- Receivables within one year +€100,089
up €100,089 (+67.4%), from €148,499 to €248,588
of which Trade receivables: +€115,640
- Debts after one year -€122,904
down €122,904 (-7.5%), from €1.6m to €1.5m
of which Financial debts: -€122,904
- Investment grants +€102,300
new in 2025: €102,300
- Other debts +€51,188
up €51,188 (+10.1%), from €508,467 to €559,655
- Current portion of long-term debt -€36,348
down €36,348 (-21.6%), from €168,343 to €131,994
- Depreciation +€18,939
up €18,939 (+14.1%), from €133,922 to €152,861
- Financial income +€9,489
up €9,489 (+94,886,000%), from €0 to €9,489
- Financial charges +€4,399
up €4,399 (+6.2%), from €71,357 to €75,757
- Gross operating margin +€2,922
up €2,922 (+1.4%), from €204,593 to €207,515
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 | €3,213,309 | €3,184,152 | -€29,157 | -0.9% |
| Fixed assets | 21/28 | €3,056,604 | €2,923,085 | -€133,520 | -4.4% |
| Tangible fixed assets | 22/27 | €2,112,727 | €1,979,207 | -€133,520 | -6.3% |
| Land and buildings | 22 | €2,104,295 | €1,973,406 | -€130,889 | -6.2% |
| Furniture and vehicles | 24 | €8,432 | €5,801 | -€2,631 | -31.2% |
| Financial fixed assets | 28 | €943,877 | €943,877 | = | 0.0% |
| Current assets | 29/58 | €156,704 | €261,067 | +€104,363 | +66.6% |
| Amounts receivable within one year | 40/41 | €148,499 | €248,588 | +€100,089 | +67.4% |
| Trade receivables | 40 | €132,948 | €248,588 | +€115,640 | +87.0% |
| Other amounts receivable | 41 | €15,551 | €0 | -€15,551 | -100% |
| Cash at bank and in hand | 54/58 | €8,206 | €12,479 | +€4,274 | +52.1% |
| Total equity and liabilities | 10/49 | €3,213,309 | €3,184,152 | -€29,157 | -0.9% |
| Equity | 10/15 | €595,420 | €684,649 | +€89,230 | +15.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,420 | €482,349 | -€13,070 | -2.6% |
| Investment grants | 15 | - | €102,300 | +€102,300 | |
| Amounts payable | 17/49 | €2,617,889 | €2,499,502 | -€118,387 | -4.5% |
| Amounts payable after more than one year | 17 | €1,630,183 | €1,507,279 | -€122,904 | -7.5% |
| Financial debts | 170/4 | €1,405,183 | €1,282,279 | -€122,904 | -8.7% |
| Other amounts payable | 178/9 | €225,000 | €225,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €987,707 | €992,223 | +€4,517 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €168,343 | €131,994 | -€36,348 | -21.6% |
| Financial debts | 43 | €285,000 | €285,000 | = | 0.0% |
| Credit institutions | 430/8 | €285,000 | €285,000 | = | 0.0% |
| Trade debts | 44 | €20,483 | €1,891 | -€18,593 | -90.8% |
| Suppliers | 440/4 | €20,483 | €1,891 | -€18,593 | -90.8% |
| Taxes, remuneration and social security | 45 | €5,414 | €13,683 | +€8,270 | +153% |
| Taxes | 450/3 | €5,414 | €13,683 | +€8,270 | +153% |
| Other amounts payable | 47/48 | €508,467 | €559,655 | +€51,188 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,922 | €152,861 | +€18,939 | +14.1% |
| Other operating charges | 640/8 | €868 | €922 | +€54 | +6.2% |
| Gross operating margin | 9900 | €204,593 | €207,515 | +€2,922 | +1.4% |
| Operating profit (loss) | 9901 | €69,803 | €53,732 | -€16,070 | -23.0% |
| Financial income | 75/76B | €0 | €9,489 | +€9,489 | +94,886,000% |
| Recurring financial income | 75 | €0 | €9,489 | +€9,489 | +94,886,000% |
| Financial charges | 65/66B | €71,357 | €75,757 | +€4,399 | +6.2% |
| Recurring financial charges | 65 | €71,357 | €75,757 | +€4,399 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,555 | -€12,536 | -€10,981 | -706% |
| Income taxes | 67/77 | €415 | €534 | +€120 | +28.9% |
| Profit (loss) for the period | 9904 | -€1,969 | -€13,070 | -€11,101 | -564% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,969 | -€13,070 | -€11,101 | -564% |
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 17 October 2026 via checked.be.