J.F.S.: 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.
J.F.S.
Largest movements
- Cash -€15,209
down €15,209 (-41.2%), from €36,873 to €21,664
mainly Debts after one year (-€25,000) and Receivables within one year (-€10,341)
- Receivables within one year +€10,341
up €10,341 (+224%), from €4,619 to €14,960
of which Other amounts receivable: +€10,341
- Receivables after one year -€9,549
no longer reported in 2025 (was €9,549)
- Debts after one year -€25,000
down €25,000 (-15.4%), from €162,500 to €137,500
- Profit (loss) carried forward +€11,706
up €11,706 (+3.4%), from €343,114 to €354,820
- Financial income +€3,192
up €3,192 (+19.2%), from €16,658 to €19,851
- Gross operating margin +€1,361
up €1,361 (+21.3%), from €6,387 to €7,747
- Taxes +€302
up €302 (+88.9%), from €340 to €642
- Depreciation -€187
down €187 (-13.0%), from €1,438 to €1,251
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 | €566,318 | €550,384 | -€15,934 | -2.8% |
| Fixed assets | 21/28 | €515,011 | €513,760 | -€1,251 | -0.2% |
| Tangible fixed assets | 22/27 | €11,764 | €10,513 | -€1,251 | -10.6% |
| Land and buildings | 22 | €4,500 | €3,600 | -€900 | -20.0% |
| Furniture and vehicles | 24 | €7,264 | €6,913 | -€351 | -4.8% |
| Financial fixed assets | 28 | €503,247 | €503,247 | = | 0.0% |
| Current assets | 29/58 | €51,307 | €36,624 | -€14,683 | -28.6% |
| Amounts receivable after more than one year | 29 | €9,549 | - | -€9,549 | |
| Other amounts receivable | 291 | €9,549 | - | -€9,549 | |
| Amounts receivable within one year | 40/41 | €4,619 | €14,960 | +€10,341 | +224% |
| Trade receivables | 40 | €5 | €5 | = | 0.0% |
| Other amounts receivable | 41 | €4,614 | €14,955 | +€10,341 | +224% |
| Current investments | 50/53 | €267 | - | -€267 | |
| Cash at bank and in hand | 54/58 | €36,873 | €21,664 | -€15,209 | -41.2% |
| Total equity and liabilities | 10/49 | €566,318 | €550,384 | -€15,934 | -2.8% |
| Equity | 10/15 | €351,171 | €362,876 | +€11,706 | +3.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €343,114 | €354,820 | +€11,706 | +3.4% |
| Amounts payable | 17/49 | €215,147 | €187,508 | -€27,640 | -12.8% |
| Amounts payable after more than one year | 17 | €162,500 | €137,500 | -€25,000 | -15.4% |
| Financial debts | 170/4 | €162,500 | €137,500 | -€25,000 | -15.4% |
| Amounts payable within one year | 42/48 | €52,647 | €50,008 | -€2,640 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €76 | - | -€76 | |
| Suppliers | 440/4 | €76 | - | -€76 | |
| Taxes, remuneration and social security | 45 | €9,204 | €11,718 | +€2,513 | +27.3% |
| Taxes | 450/3 | €9,204 | €11,718 | +€2,513 | +27.3% |
| Other amounts payable | 47/48 | €18,367 | €13,290 | -€5,077 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,438 | €1,251 | -€187 | -13.0% |
| Other operating charges | 640/8 | €488 | €502 | +€14 | +2.9% |
| Gross operating margin | 9900 | €6,387 | €7,747 | +€1,361 | +21.3% |
| Operating profit (loss) | 9901 | €4,461 | €5,994 | +€1,533 | +34.4% |
| Financial income | 75/76B | €16,658 | €19,851 | +€3,192 | +19.2% |
| Recurring financial income | 75 | €16,658 | €19,851 | +€3,192 | +19.2% |
| Financial charges | 65/66B | €5,497 | €5,497 | +€0 | 0.0% |
| Recurring financial charges | 65 | €5,497 | €5,497 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €15,622 | €20,348 | +€4,726 | +30.2% |
| Income taxes | 67/77 | €340 | €642 | +€302 | +88.9% |
| Profit (loss) for the period | 9904 | €15,282 | €19,706 | +€4,423 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,282 | €19,706 | +€4,423 | +28.9% |
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 28 October 2026 via checked.be.