JDS - Project: 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.
JDS - Project
Largest movements
- Cash -€48,716
down €48,716 (-98.6%), from €49,406 to €690
mainly Investment in fixed assets (net) (-€83,615) and Debts after one year (-€55,646)
- Tangible fixed assets +€32,030
up €32,030 (+4.7%), from €687,945 to €719,975
of which Land and buildings: +€31,541
- Current investments -€22,870
down €22,870 (-100.0%), from €22,870 to €0
- Debts after one year -€55,646
down €55,646 (-65.3%), from €85,257 to €29,612
of which Financial debts: -€39,246
- Other debts +€36,201
up €36,201 (+3319.8%), from €1,090 to €37,291
- Reserves -€9,270
down €9,270 (-1.6%), from €588,070 to €578,799
of which Tax-exempt reserves: -€9,270
- Depreciation +€8,057
up €8,057 (+18.5%), from €43,528 to €51,585
- Gross operating margin -€5,516
down €5,516 (-11.9%), from €46,481 to €40,965
- Financial charges -€4,759
down €4,759 (-79.1%), from €6,019 to €1,260
- Financial income +€1,020
up €1,020 (+60.5%), from €1,685 to €2,705
- Other operating charges -€509
down €509 (-5.9%), from €8,702 to €8,193
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 | €768,836 | €722,585 | -€46,251 | -6.0% |
| Fixed assets | 21/28 | €687,945 | €719,975 | +€32,030 | +4.7% |
| Tangible fixed assets | 22/27 | €687,945 | €719,975 | +€32,030 | +4.7% |
| Land and buildings | 22 | €683,720 | €715,262 | +€31,541 | +4.6% |
| Plant, machinery and equipment | 23 | - | €1,667 | +€1,667 | |
| Furniture and vehicles | 24 | €4,225 | €3,046 | -€1,178 | -27.9% |
| Current assets | 29/58 | €80,892 | €2,610 | -€78,281 | -96.8% |
| Amounts receivable within one year | 40/41 | €7,433 | €630 | -€6,802 | -91.5% |
| Trade receivables | 40 | €7,032 | €527 | -€6,505 | -92.5% |
| Other amounts receivable | 41 | €400 | €103 | -€297 | -74.2% |
| Current investments | 50/53 | €22,870 | €0 | -€22,870 | -100.0% |
| Cash at bank and in hand | 54/58 | €49,406 | €690 | -€48,716 | -98.6% |
| Deferred charges and accrued income | 490/1 | €1,184 | €1,290 | +€106 | +9.0% |
| Total equity and liabilities | 10/49 | €768,836 | €722,585 | -€46,251 | -6.0% |
| Equity | 10/15 | €598,190 | €583,780 | -€14,410 | -2.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €588,070 | €578,799 | -€9,270 | -1.6% |
| Tax-exempt reserves | 132 | €98,876 | €89,605 | -€9,270 | -9.4% |
| Distributable reserves | 133 | €489,194 | €489,194 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,380 | -€7,519 | -€5,139 | -215.9% |
| Provisions and deferred taxes | 16 | €32,959 | €29,868 | -€3,090 | -9.4% |
| Deferred taxes | 168 | €32,959 | €29,868 | -€3,090 | -9.4% |
| Amounts payable | 17/49 | €137,688 | €108,937 | -€28,751 | -20.9% |
| Amounts payable after more than one year | 17 | €85,257 | €29,612 | -€55,646 | -65.3% |
| Financial debts | 170/4 | €68,857 | €29,612 | -€39,246 | -57.0% |
| Other amounts payable | 178/9 | €16,400 | €0 | -€16,400 | -100.0% |
| Amounts payable within one year | 42/48 | €49,402 | €79,174 | +€29,772 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €46,324 | €39,246 | -€7,079 | -15.3% |
| Trade debts | 44 | €1,516 | €2,283 | +€766 | +50.5% |
| Suppliers | 440/4 | €1,516 | €2,283 | +€766 | +50.5% |
| Taxes, remuneration and social security | 45 | €470 | €354 | -€116 | -24.8% |
| Taxes | 450/3 | €470 | €354 | -€116 | -24.8% |
| Other amounts payable | 47/48 | €1,090 | €37,291 | +€36,201 | +3319.8% |
| Accrued charges and deferred income | 492/3 | €3,029 | €152 | -€2,878 | -95.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,528 | €51,585 | +€8,057 | +18.5% |
| Other operating charges | 640/8 | €8,702 | €8,193 | -€509 | -5.9% |
| Gross operating margin | 9900 | €46,481 | €40,965 | -€5,516 | -11.9% |
| Operating profit (loss) | 9901 | -€5,749 | -€18,813 | -€13,064 | -227.2% |
| Financial income | 75/76B | €1,685 | €2,705 | +€1,020 | +60.5% |
| Recurring financial income | 75 | €1,685 | €2,705 | +€1,020 | +60.5% |
| Financial charges | 65/66B | €6,019 | €1,260 | -€4,759 | -79.1% |
| Recurring financial charges | 65 | €6,019 | €1,260 | -€4,759 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,083 | -€17,368 | -€7,285 | -72.3% |
| Transfer from deferred taxes | 780 | €3,090 | €3,090 | = | 0.0% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€7,121 | -€14,410 | -€7,289 | -102.4% |
| Transfer from tax-exempt reserves | 789 | €9,270 | €9,270 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,150 | -€5,139 | -€7,289 |
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 2 October 2026 via checked.be.