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 +€37,692
up €37,692 (+37.6%), from €100,148 to €137,840
of which Furniture and vehicles: +€35,165
- Cash -€12,607
down €12,607 (-78.5%), from €16,061 to €3,454
mainly Investment in fixed assets (net) (-€52,358) and Trade debts (-€13,863)
- Receivables within one year -€2,775
down €2,775 (-9.6%), from €28,762 to €25,986
of which Trade receivables: -€16,402
- Reserves +€14,259
up €14,259 (+44.2%), from €32,258 to €46,517
- Trade debts -€13,863
down €13,863 (-66.4%), from €20,876 to €7,012
- Debts after one year +€7,609
up €7,609 (+15.9%), from €47,772 to €55,380
- Current portion of long-term debt +€7,377
up €7,377 (+29.8%), from €24,740 to €32,117
- Profit (loss) carried forward +€5,473
no longer reported in 2025 (was -€5,473)
- Gross operating margin +€27,873
up €27,873 (+141.5%), from €19,692 to €47,565
- Taxes +€5,269
up €5,269 (+1871.2%), from €282 to €5,550
- Depreciation -€4,613
down €4,613 (-23.9%), from €19,279 to €14,666
- Other operating charges -€1,359
down €1,359 (-57.2%), from €2,375 to €1,015
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 | €146,363 | €168,963 | +€22,600 | +15.4% |
| Fixed assets | 21/28 | €100,148 | €137,840 | +€37,692 | +37.6% |
| Tangible fixed assets | 22/27 | €100,148 | €137,840 | +€37,692 | +37.6% |
| Plant, machinery and equipment | 23 | €62,577 | €65,968 | +€3,391 | +5.4% |
| Furniture and vehicles | 24 | €31,445 | €66,610 | +€35,165 | +111.8% |
| Other tangible fixed assets | 26 | €6,125 | €5,262 | -€864 | -14.1% |
| Current assets | 29/58 | €46,215 | €31,123 | -€15,092 | -32.7% |
| Amounts receivable within one year | 40/41 | €28,762 | €25,986 | -€2,775 | -9.6% |
| Trade receivables | 40 | €26,619 | €10,217 | -€16,402 | -61.6% |
| Other amounts receivable | 41 | €2,143 | €15,769 | +€13,626 | +635.9% |
| Cash at bank and in hand | 54/58 | €16,061 | €3,454 | -€12,607 | -78.5% |
| Deferred charges and accrued income | 490/1 | €1,392 | €1,682 | +€290 | +20.8% |
| Total equity and liabilities | 10/49 | €146,363 | €168,963 | +€22,600 | +15.4% |
| Equity | 10/15 | €45,385 | €65,117 | +€19,732 | +43.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,258 | €46,517 | +€14,259 | +44.2% |
| Distributable reserves | 133 | €32,258 | €46,517 | +€14,259 | +44.2% |
| Profit (loss) carried forward | 14 | -€5,473 | - | +€5,473 | |
| Amounts payable | 17/49 | €100,977 | €103,846 | +€2,869 | +2.8% |
| Amounts payable after more than one year | 17 | €47,772 | €55,380 | +€7,609 | +15.9% |
| Financial debts | 170/4 | €47,772 | €55,380 | +€7,609 | +15.9% |
| Amounts payable within one year | 42/48 | €53,037 | €48,160 | -€4,878 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €24,740 | €32,117 | +€7,377 | +29.8% |
| Trade debts | 44 | €20,876 | €7,012 | -€13,863 | -66.4% |
| Suppliers | 440/4 | €20,876 | €7,012 | -€13,863 | -66.4% |
| Taxes, remuneration and social security | 45 | €7,000 | €7,000 | = | 0.0% |
| Taxes | 450/3 | €3,600 | €3,600 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,400 | €3,400 | = | 0.0% |
| Other amounts payable | 47/48 | €422 | €2,030 | +€1,608 | +381.4% |
| Accrued charges and deferred income | 492/3 | €168 | €306 | +€138 | +81.8% |
| Non-recurring operating income | 76A | - | €4,176 | +€4,176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,279 | €14,666 | -€4,613 | -23.9% |
| Other operating charges | 640/8 | €2,375 | €1,015 | -€1,359 | -57.2% |
| Gross operating margin | 9900 | €19,692 | €47,565 | +€27,873 | +141.5% |
| Operating profit (loss) | 9901 | -€1,962 | €31,883 | +€33,846 | |
| Financial income | 75/76B | €2 | €185 | +€182 | +8142.9% |
| Recurring financial income | 75 | €2 | €185 | +€182 | +8142.9% |
| Financial charges | 65/66B | €5,092 | €5,120 | +€28 | +0.6% |
| Recurring financial charges | 65 | €5,092 | €5,120 | +€28 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,052 | €26,948 | +€34,000 | |
| Income taxes | 67/77 | €282 | €5,550 | +€5,269 | +1871.2% |
| Profit (loss) for the period | 9904 | -€7,333 | €21,398 | +€28,731 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,333 | €21,398 | +€28,731 |
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 7 October 2026 via checked.be.