J@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@S
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+14.5%), from €7.9m to €9.0m
- Current investments +€871,576
up €871,576 (+21.3%), from €4.1m to €5.0m
- Cash +€383,195
up €383,195 (+631.7%), from €60,665 to €443,860
mainly Net result for the year (+€2.3m) and Receivables within one year (+€256,456)
- Receivables within one year -€256,456
down €256,456 (-18.2%), from €1.4m to €1.2m
- Reserves +€2.3m
up €2.3m (+17.9%), from €13.0m to €15.3m
- Other debts -€163,294
down €163,294 (-41.6%), from €392,139 to €228,845
- Financial income -€2.2m
down €2.2m (-45.2%), from €4.9m to €2.7m
- Taxes +€189,871
up €189,871 (+311.3%), from €60,991 to €250,862
- Financial charges +€76,279
up €76,279, from €0 to €76,279
- Gross operating margin +€7,652
up €7,652, from -€7,652 to €0
- Other operating charges +€7,036
up €7,036, from €0 to €7,036
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 | €13,448,220 | €15,591,427 | +€2.1m | +15.9% |
| Fixed assets | 21/28 | €7,880,219 | €9,025,111 | +€1.1m | +14.5% |
| Financial fixed assets | 28 | €7,880,219 | €9,025,111 | +€1.1m | +14.5% |
| Current assets | 29/58 | €5,568,001 | €6,566,316 | +€998,315 | +17.9% |
| Amounts receivable within one year | 40/41 | €1,411,456 | €1,155,000 | -€256,456 | -18.2% |
| Other amounts receivable | 41 | €1,411,456 | €1,155,000 | -€256,456 | -18.2% |
| Current investments | 50/53 | €4,095,880 | €4,967,456 | +€871,576 | +21.3% |
| Cash at bank and in hand | 54/58 | €60,665 | €443,860 | +€383,195 | +631.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €13,448,220 | €15,591,427 | +€2.1m | +15.9% |
| Equity | 10/15 | €13,034,809 | €15,362,582 | +€2.3m | +17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,016,209 | €15,343,982 | +€2.3m | +17.9% |
| Distributable reserves | 133 | €13,016,209 | €15,343,982 | +€2.3m | +17.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €413,411 | €228,845 | -€184,566 | -44.6% |
| Amounts payable within one year | 42/48 | €410,911 | €228,845 | -€182,066 | -44.3% |
| Taxes, remuneration and social security | 45 | €18,772 | €0 | -€18,772 | -100.0% |
| Taxes | 450/3 | €18,772 | €0 | -€18,772 | -100.0% |
| Other amounts payable | 47/48 | €392,139 | €228,845 | -€163,294 | -41.6% |
| Accrued charges and deferred income | 492/3 | €2,500 | €0 | -€2,500 | -100.0% |
| Other operating charges | 640/8 | €0 | €7,036 | +€7,036 | |
| Gross operating margin | 9900 | -€7,652 | €0 | +€7,652 | |
| Operating profit (loss) | 9901 | -€7,652 | -€7,036 | +€616 | +8.1% |
| Financial income | 75/76B | €4,857,001 | €2,661,950 | -€2.2m | -45.2% |
| Recurring financial income | 75 | €4,857,001 | €2,661,950 | -€2.2m | -45.2% |
| Financial charges | 65/66B | €0 | €76,279 | +€76,279 | |
| Recurring financial charges | 65 | €0 | €76,279 | +€76,279 | |
| Profit (loss) for the period before taxes | 9903 | €4,849,349 | €2,578,635 | -€2.3m | -46.8% |
| Income taxes | 67/77 | €60,991 | €250,862 | +€189,871 | +311.3% |
| Profit (loss) for the period | 9904 | €4,788,358 | €2,327,773 | -€2.5m | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,788,358 | €2,327,773 | -€2.5m | -51.4% |
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 12 October 2026 via checked.be.