JERSO: 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.
JERSO
Largest movements
- Cash +€53,906
up €53,906 (+30.1%), from €178,936 to €232,841
mainly Net result for the year (+€99,997) and Tax, wage and social debts (+€13,141)
- Receivables within one year +€13,059
up €13,059 (+24.2%), from €54,037 to €67,096
of which Trade receivables: +€13,059
- Reserves +€99,997
up €99,997 (+23.9%), from €418,197 to €518,194
of which Distributable reserves: +€99,997
- Debts after one year -€35,866
down €35,866 (-25.7%), from €139,316 to €103,450
- Tax, wage and social debts +€13,141
up €13,141 (+111.2%), from €11,815 to €24,956
- Trade debts -€8,814
down €8,814 (-80.8%), from €10,905 to €2,091
- Gross operating margin +€31,080
up €31,080 (+25.7%), from €121,117 to €152,197
- Taxes +€12,304
up €12,304 (+41.1%), from €29,945 to €42,249
- Financial charges -€5,345
down €5,345 (-37.8%), from €14,145 to €8,800
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €663,683 | €726,837 | +€63,153 | +9.5% |
| Fixed assets | 21/28 | €430,711 | €426,900 | -€3,811 | -0.9% |
| Tangible fixed assets | 22/27 | €10,135 | €6,324 | -€3,811 | -37.6% |
| Furniture and vehicles | 24 | €10,135 | €6,324 | -€3,811 | -37.6% |
| Financial fixed assets | 28 | €420,576 | €420,576 | = | 0.0% |
| Current assets | 29/58 | €232,972 | €299,937 | +€66,964 | +28.7% |
| Amounts receivable within one year | 40/41 | €54,037 | €67,096 | +€13,059 | +24.2% |
| Trade receivables | 40 | €50,387 | €63,446 | +€13,059 | +25.9% |
| Other amounts receivable | 41 | €3,650 | €3,650 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €178,936 | €232,841 | +€53,906 | +30.1% |
| Total equity and liabilities | 10/49 | €663,683 | €726,837 | +€63,153 | +9.5% |
| Equity | 10/15 | €479,697 | €579,694 | +€99,997 | +20.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €418,197 | €518,194 | +€99,997 | +23.9% |
| Non-distributable reserves | 130/1 | €8,520 | €8,520 | = | 0.0% |
| Legal reserve | 130 | €8,520 | €8,520 | = | 0.0% |
| Distributable reserves | 133 | €409,677 | €509,674 | +€99,997 | +24.4% |
| Amounts payable | 17/49 | €183,986 | €147,142 | -€36,844 | -20.0% |
| Amounts payable after more than one year | 17 | €139,316 | €103,450 | -€35,866 | -25.7% |
| Financial debts | 170/4 | €139,316 | €103,450 | -€35,866 | -25.7% |
| Amounts payable within one year | 42/48 | €31,176 | €35,460 | +€4,284 | +13.7% |
| Financial debts | 43 | €8,456 | €8,414 | -€42 | -0.5% |
| Credit institutions | 430/8 | €8,456 | €8,414 | -€42 | -0.5% |
| Trade debts | 44 | €10,905 | €2,091 | -€8,814 | -80.8% |
| Suppliers | 440/4 | €10,905 | €2,091 | -€8,814 | -80.8% |
| Taxes, remuneration and social security | 45 | €11,815 | €24,956 | +€13,141 | +111.2% |
| Taxes | 450/3 | €11,815 | €24,956 | +€13,141 | +111.2% |
| Accrued charges and deferred income | 492/3 | €13,494 | €8,232 | -€5,262 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,297 | €3,811 | +€514 | +15.6% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €121,117 | €152,197 | +€31,080 | +25.7% |
| Operating profit (loss) | 9901 | €117,306 | €147,858 | +€30,552 | +26.0% |
| Financial income | 75/76B | €2,812 | €3,188 | +€376 | +13.4% |
| Recurring financial income | 75 | €2,812 | €3,188 | +€376 | +13.4% |
| Financial charges | 65/66B | €14,145 | €8,800 | -€5,345 | -37.8% |
| Recurring financial charges | 65 | €14,145 | €8,800 | -€5,345 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €105,972 | €142,246 | +€36,273 | +34.2% |
| Income taxes | 67/77 | €29,945 | €42,249 | +€12,304 | +41.1% |
| Profit (loss) for the period | 9904 | €76,028 | €99,997 | +€23,969 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,028 | €99,997 | +€23,969 | +31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.