JBS: 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.
JBS
Largest movements
- Receivables within one year -€23,565
down €23,565 (-85.1%), from €27,675 to €4,110
of which Trade receivables: -€17,876
- Intangible fixed assets -€3,300
down €3,300 (-19.2%), from €17,189 to €13,889
- Tangible fixed assets -€2,905
down €2,905 (-45.6%), from €6,371 to €3,466
of which Plant, machinery and equipment: -€2,122
- Cash -€1,891
down €1,891 (-99.9%), from €1,892 to €1
mainly Net result for the year (-€29,276) and Tax, wage and social debts (-€7,173)
- Profit (loss) carried forward -€29,276
down €29,276, from €3,925 to -€25,351
- Other debts +€8,654
new in 2025: €8,654
- Short-term financial debts +€7,780
up €7,780 (+141.6%), from €5,494 to €13,274
- Tax, wage and social debts -€7,173
down €7,173 (-70.1%), from €10,234 to €3,061
of which Taxes: -€8,073
- Accrued charges and deferred income -€6,177
no longer reported in 2025 (was €6,177)
- Gross operating margin -€37,067
down €37,067, from €19,488 to -€17,579
- Taxes -€2,575
no longer reported in 2025 (was €2,575)
- Depreciation +€1,495
up €1,495 (+15.0%), from €9,990 to €11,485
- Financial charges -€1,168
down €1,168 (-40.4%), from €2,893 to €1,725
of which Non-recurring financial charges: -€636
- Other operating charges -€446
down €446 (-53.4%), from €835 to €389
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 | €53,127 | €21,466 | -€31,661 | -59.6% |
| Fixed assets | 21/28 | €23,560 | €17,355 | -€6,205 | -26.3% |
| Intangible fixed assets | 21 | €17,189 | €13,889 | -€3,300 | -19.2% |
| Tangible fixed assets | 22/27 | €6,371 | €3,466 | -€2,905 | -45.6% |
| Plant, machinery and equipment | 23 | €3,051 | €929 | -€2,122 | -69.6% |
| Furniture and vehicles | 24 | €3,320 | €2,537 | -€783 | -23.6% |
| Current assets | 29/58 | €29,567 | €4,111 | -€25,456 | -86.1% |
| Amounts receivable within one year | 40/41 | €27,675 | €4,110 | -€23,565 | -85.1% |
| Trade receivables | 40 | €19,311 | €1,435 | -€17,876 | -92.6% |
| Other amounts receivable | 41 | €8,364 | €2,675 | -€5,689 | -68.0% |
| Cash at bank and in hand | 54/58 | €1,892 | €1 | -€1,891 | -99.9% |
| Total equity and liabilities | 10/49 | €53,127 | €21,466 | -€31,661 | -59.6% |
| Equity | 10/15 | €24,385 | -€4,891 | -€29,276 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,925 | -€25,351 | -€29,276 | |
| Amounts payable | 17/49 | €28,742 | €26,357 | -€2,385 | -8.3% |
| Amounts payable after more than one year | 17 | €3,236 | €402 | -€2,834 | -87.6% |
| Financial debts | 170/4 | €3,236 | €402 | -€2,834 | -87.6% |
| Amounts payable within one year | 42/48 | €19,329 | €25,955 | +€6,626 | +34.3% |
| Financial debts | 43 | €5,494 | €13,274 | +€7,780 | +141.6% |
| Credit institutions | 430/8 | €5,494 | €13,274 | +€7,780 | +141.6% |
| Trade debts | 44 | €3,601 | €966 | -€2,635 | -73.2% |
| Suppliers | 440/4 | €3,601 | €966 | -€2,635 | -73.2% |
| Taxes, remuneration and social security | 45 | €10,234 | €3,061 | -€7,173 | -70.1% |
| Taxes | 450/3 | €10,234 | €2,161 | -€8,073 | -78.9% |
| Remuneration and social security | 454/9 | - | €900 | +€900 | |
| Other amounts payable | 47/48 | - | €8,654 | +€8,654 | |
| Accrued charges and deferred income | 492/3 | €6,177 | - | -€6,177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,990 | €11,485 | +€1,495 | +15.0% |
| Other operating charges | 640/8 | €835 | €389 | -€446 | -53.4% |
| Gross operating margin | 9900 | €19,488 | -€17,579 | -€37,067 | |
| Operating profit (loss) | 9901 | €8,663 | -€29,453 | -€38,116 | |
| Financial income | 75/76B | €2,348 | €1,902 | -€446 | -19.0% |
| Recurring financial income | 75 | €1 | €1,902 | +€1,901 | +190100.0% |
| Non-recurring financial income | 76B | €2,347 | €1,902 | -€445 | -19.0% |
| Financial charges | 65/66B | €2,893 | €1,725 | -€1,168 | -40.4% |
| Recurring financial charges | 65 | €2,257 | €1,725 | -€532 | -23.6% |
| Non-recurring financial charges | 66B | €636 | - | -€636 | |
| Profit (loss) for the period before taxes | 9903 | €8,118 | -€29,276 | -€37,394 | |
| Income taxes | 67/77 | €2,575 | - | -€2,575 | |
| Profit (loss) for the period | 9904 | €5,543 | -€29,276 | -€34,819 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,543 | -€29,276 | -€34,819 |
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 30 September 2026 via checked.be.