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
- Stocks and contracts -€13,449
down €13,449 (-51.6%), from €26,087 to €12,638
- Tangible fixed assets -€7,230
down €7,230 (-19.7%), from €36,709 to €29,479
of which Furniture and vehicles: -€8,085
- Cash -€5,257
down €5,257 (-5.5%), from €95,712 to €90,455
mainly Advances received (-€31,243) and Other debts (-€14,037)
- Intangible fixed assets -€2,500
down €2,500 (-12.2%), from €20,526 to €18,026
- Advances received -€31,243
down €31,243 (-36.6%), from €85,307 to €54,064
- Profit (loss) carried forward +€27,904
up €27,904 (+101.6%), from €27,476 to €55,380
- Other debts -€14,037
down €14,037 (-53.9%), from €26,019 to €11,982
- Trade debts -€9,408
down €9,408 (-85.3%), from €11,023 to €1,615
- Debts after one year -€6,104
down €6,104 (-46.1%), from €13,227 to €7,123
- Gross operating margin +€9,880
up €9,880 (+22.5%), from €43,968 to €53,848
- Depreciation +€1,747
up €1,747 (+11.4%), from €15,389 to €17,136
- Taxes +€1,513
up €1,513 (+27.3%), from €5,537 to €7,050
- Other operating charges +€986
up €986 (+184.0%), from €536 to €1,522
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 | €181,981 | €154,819 | -€27,162 | -14.9% |
| Fixed assets | 21/28 | €57,235 | €47,505 | -€9,730 | -17.0% |
| Intangible fixed assets | 21 | €20,526 | €18,026 | -€2,500 | -12.2% |
| Tangible fixed assets | 22/27 | €36,709 | €29,479 | -€7,230 | -19.7% |
| Plant, machinery and equipment | 23 | €14,410 | €14,227 | -€183 | -1.3% |
| Furniture and vehicles | 24 | €22,299 | €14,214 | -€8,085 | -36.3% |
| Other tangible fixed assets | 26 | - | €1,038 | +€1,038 | |
| Current assets | 29/58 | €124,746 | €107,314 | -€17,432 | -14.0% |
| Stocks and contracts in progress | 3 | €26,087 | €12,638 | -€13,449 | -51.6% |
| Stocks | 30/36 | €26,087 | €12,638 | -€13,449 | -51.6% |
| Amounts receivable within one year | 40/41 | €2,462 | €3,985 | +€1,523 | +61.9% |
| Trade receivables | 40 | - | €851 | +€851 | |
| Other amounts receivable | 41 | €2,462 | €3,134 | +€672 | +27.3% |
| Cash at bank and in hand | 54/58 | €95,712 | €90,455 | -€5,257 | -5.5% |
| Deferred charges and accrued income | 490/1 | €485 | €236 | -€249 | -51.3% |
| Total equity and liabilities | 10/49 | €181,981 | €154,819 | -€27,162 | -14.9% |
| Equity | 10/15 | €31,476 | €59,380 | +€27,904 | +88.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,476 | €55,380 | +€27,904 | +101.6% |
| Amounts payable | 17/49 | €150,505 | €95,439 | -€55,066 | -36.6% |
| Amounts payable after more than one year | 17 | €13,227 | €7,123 | -€6,104 | -46.1% |
| Financial debts | 170/4 | €13,227 | €7,123 | -€6,104 | -46.1% |
| Amounts payable within one year | 42/48 | €137,278 | €88,316 | -€48,962 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €6,105 | €6,105 | = | 0.0% |
| Trade debts | 44 | €11,023 | €1,615 | -€9,408 | -85.3% |
| Suppliers | 440/4 | €11,023 | €1,615 | -€9,408 | -85.3% |
| Advances received on contracts in progress | 46 | €85,307 | €54,064 | -€31,243 | -36.6% |
| Taxes, remuneration and social security | 45 | €8,824 | €14,550 | +€5,726 | +64.9% |
| Taxes | 450/3 | €8,824 | €13,062 | +€4,238 | +48.0% |
| Remuneration and social security | 454/9 | - | €1,488 | +€1,488 | |
| Other amounts payable | 47/48 | €26,019 | €11,982 | -€14,037 | -53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,389 | €17,136 | +€1,747 | +11.4% |
| Other operating charges | 640/8 | €536 | €1,522 | +€986 | +184.0% |
| Gross operating margin | 9900 | €43,968 | €53,848 | +€9,880 | +22.5% |
| Operating profit (loss) | 9901 | €28,043 | €35,190 | +€7,147 | +25.5% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €121 | €236 | +€115 | +95.0% |
| Recurring financial charges | 65 | €121 | €236 | +€115 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €27,928 | €34,954 | +€7,026 | +25.2% |
| Income taxes | 67/77 | €5,537 | €7,050 | +€1,513 | +27.3% |
| Profit (loss) for the period | 9904 | €22,391 | €27,904 | +€5,513 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,391 | €27,904 | +€5,513 | +24.6% |
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 10 October 2026 via checked.be.