J4S: 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.
J4S
Largest movements
- Tangible fixed assets +€135,352
up €135,352, from €0 to €135,352
of which Other tangible fixed assets: +€134,627
- Cash +€5,678
up €5,678 (+119.1%), from €4,767 to €10,446
mainly Debts after one year (+€105,760) and Net result for the year (+€27,339)
- Debts after one year +€105,760
up €105,760, from €0 to €105,760
- Profit (loss) carried forward +€27,339
up €27,339, from -€2,742 to €24,597
- Current portion of long-term debt +€6,228
new in 2025: €6,228
- Other debts +€1,879
up €1,879 (+3930.8%), from €48 to €1,927
- Gross operating margin -€110,695
down €110,695 (-71.1%), from €155,716 to €45,020
- Financial charges -€33,787
down €33,787 (-92.2%), from €36,664 to €2,877
- Taxes +€8,617
new in 2025: €8,617
- Depreciation +€5,764
up €5,764, from €0 to €5,764
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 | €17,661 | €159,272 | +€141,610 | +801.8% |
| Fixed assets | 21/28 | €0 | €135,352 | +€135,352 | |
| Tangible fixed assets | 22/27 | €0 | €135,352 | +€135,352 | |
| Furniture and vehicles | 24 | - | €725 | +€725 | |
| Other tangible fixed assets | 26 | €0 | €134,627 | +€134,627 | |
| Current assets | 29/58 | €17,661 | €23,920 | +€6,259 | +35.4% |
| Amounts receivable within one year | 40/41 | €12,894 | €12,176 | -€718 | -5.6% |
| Trade receivables | 40 | €12,894 | €5,781 | -€7,113 | -55.2% |
| Other amounts receivable | 41 | €0 | €6,395 | +€6,395 | |
| Cash at bank and in hand | 54/58 | €4,767 | €10,446 | +€5,678 | +119.1% |
| Deferred charges and accrued income | 490/1 | €0 | €1,299 | +€1,299 | |
| Total equity and liabilities | 10/49 | €17,661 | €159,272 | +€141,610 | +801.8% |
| Equity | 10/15 | €16,008 | €43,347 | +€27,339 | +170.8% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,742 | €24,597 | +€27,339 | |
| Amounts payable | 17/49 | €1,653 | €115,924 | +€114,271 | +6912.8% |
| Amounts payable after more than one year | 17 | €0 | €105,760 | +€105,760 | |
| Financial debts | 170/4 | €0 | €105,760 | +€105,760 | |
| Amounts payable within one year | 42/48 | €1,653 | €9,389 | +€7,736 | +468.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,228 | +€6,228 | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,605 | €1,234 | -€371 | -23.1% |
| Taxes | 450/3 | €1,605 | €1,234 | -€371 | -23.1% |
| Other amounts payable | 47/48 | €48 | €1,927 | +€1,879 | +3930.8% |
| Accrued charges and deferred income | 492/3 | - | €775 | +€775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €5,764 | +€5,764 | |
| Other operating charges | 640/8 | €687 | €461 | -€226 | -32.9% |
| Gross operating margin | 9900 | €155,716 | €45,020 | -€110,695 | -71.1% |
| Operating profit (loss) | 9901 | €155,028 | €38,795 | -€116,233 | -75.0% |
| Financial income | 75/76B | €0 | €38 | +€38 | |
| Recurring financial income | 75 | €0 | €38 | +€38 | |
| Financial charges | 65/66B | €36,664 | €2,877 | -€33,787 | -92.2% |
| Recurring financial charges | 65 | €36,664 | €2,877 | -€33,787 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €118,364 | €35,956 | -€82,408 | -69.6% |
| Income taxes | 67/77 | - | €8,617 | +€8,617 | |
| Profit (loss) for the period | 9904 | €118,364 | €27,339 | -€91,025 | -76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €118,364 | €27,339 | -€91,025 | -76.9% |
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 3 October 2026 via checked.be.