J & S: what changed
Two fiscal 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 & S
Largest movements
- Tangible fixed assets -€8,876
down €8,876 (-6.6%), from €134,379 to €125,504
of which Land and buildings: -€7,985
- Stocks and contracts -€3,074
down €3,074 (-3.6%), from €86,553 to €83,479
- Cash +€2,689
up €2,689 (+23.2%), from €11,600 to €14,288
mainly Depreciation (+€9,042) and Net result for the year (+€5,761)
- Debts after one year -€10,261
down €10,261 (-8.9%), from €115,132 to €104,871
- Trade debts -€9,080
down €9,080 (-58.4%), from €15,552 to €6,472
- Reserves +€5,761
up €5,761 (+15.4%), from €37,531 to €43,292
of which Distributable reserves: +€5,761
- Gross operating margin +€7,110
up €7,110 (+22.7%), from €31,305 to €38,414
- Financial charges -€5,632
down €5,632 (-54.7%), from €10,305 to €4,673
- Taxes +€2,214
up €2,214 (+332.0%), from €667 to €2,881
- Depreciation +€528
up €528 (+6.2%), from €8,514 to €9,042
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.
Cash bridge derived
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 | €258,854 | €250,035 | -€8,819 | -3.4% |
| Fixed assets | 21/28 | €134,489 | €125,614 | -€8,876 | -6.6% |
| Tangible fixed assets | 22/27 | €134,379 | €125,504 | -€8,876 | -6.6% |
| Land and buildings | 22 | €131,799 | €123,814 | -€7,985 | -6.1% |
| Plant, machinery and equipment | 23 | €1,135 | €755 | -€380 | -33.5% |
| Furniture and vehicles | 24 | €1,446 | €934 | -€512 | -35.4% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €124,365 | €124,421 | +€56 | 0.0% |
| Stocks and contracts in progress | 3 | €86,553 | €83,479 | -€3,074 | -3.6% |
| Stocks | 30/36 | €86,553 | €83,479 | -€3,074 | -3.6% |
| Amounts receivable within one year | 40/41 | €24,859 | €25,076 | +€216 | +0.9% |
| Trade receivables | 40 | €20,383 | €18,872 | -€1,511 | -7.4% |
| Other amounts receivable | 41 | €4,476 | €6,204 | +€1,728 | +38.6% |
| Cash at bank and in hand | 54/58 | €11,600 | €14,288 | +€2,689 | +23.2% |
| Deferred charges and accrued income | 490/1 | €1,353 | €1,579 | +€225 | +16.7% |
| Total equity and liabilities | 10/49 | €258,854 | €250,035 | -€8,819 | -3.4% |
| Equity | 10/15 | €56,281 | €62,042 | +€5,761 | +10.2% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €37,531 | €43,292 | +€5,761 | +15.4% |
| Tax-exempt reserves | 132 | €145 | €145 | = | 0.0% |
| Distributable reserves | 133 | €37,386 | €43,147 | +€5,761 | +15.4% |
| Amounts payable | 17/49 | €202,573 | €187,993 | -€14,581 | -7.2% |
| Amounts payable after more than one year | 17 | €115,132 | €104,871 | -€10,261 | -8.9% |
| Financial debts | 170/4 | €115,132 | €104,871 | -€10,261 | -8.9% |
| Amounts payable within one year | 42/48 | €85,744 | €79,450 | -€6,294 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €10,138 | €10,261 | +€123 | +1.2% |
| Trade debts | 44 | €15,552 | €6,472 | -€9,080 | -58.4% |
| Suppliers | 440/4 | €15,552 | €6,472 | -€9,080 | -58.4% |
| Taxes, remuneration and social security | 45 | €14,003 | €14,209 | +€205 | +1.5% |
| Taxes | 450/3 | €11,266 | €11,222 | -€44 | -0.4% |
| Remuneration and social security | 454/9 | €2,737 | €2,987 | +€250 | +9.1% |
| Other amounts payable | 47/48 | €46,051 | €48,509 | +€2,458 | +5.3% |
| Accrued charges and deferred income | 492/3 | €1,696 | €3,671 | +€1,975 | +116.4% |
| Remuneration, social security and pensions | 62 | €13,530 | €13,324 | -€206 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,514 | €9,042 | +€528 | +6.2% |
| Other operating charges | 640/8 | €2,897 | €2,988 | +€91 | +3.1% |
| Gross operating margin | 9900 | €31,305 | €38,414 | +€7,110 | +22.7% |
| Operating profit (loss) | 9901 | €6,364 | €13,061 | +€6,697 | +105.2% |
| Financial income | 75/76B | €104 | €254 | +€150 | +144.9% |
| Recurring financial income | 75 | €104 | €254 | +€150 | +144.9% |
| Financial charges | 65/66B | €10,305 | €4,673 | -€5,632 | -54.7% |
| Recurring financial charges | 65 | €10,305 | €4,673 | -€5,632 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,837 | €8,642 | +€12,479 | |
| Income taxes | 67/77 | €667 | €2,881 | +€2,214 | +332.0% |
| Profit (loss) for the period | 9904 | -€4,504 | €5,761 | +€10,265 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,504 | €5,761 | +€10,265 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.