JPS.: 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.
JPS.
Largest movements
- Current investments -€75,505
down €75,505 (-35.8%), from €211,000 to €135,494
- Receivables within one year -€57,632
down €57,632 (-76.4%), from €75,395 to €17,762
of which Trade receivables: -€58,214
- Cash -€45,857
down €45,857 (-64.3%), from €71,339 to €25,482
mainly Debts after one year (-€96,000) and Net result for the year (-€53,247)
- Tangible fixed assets -€14,600
down €14,600 (-84.1%), from €17,360 to €2,760
of which Leasing and similar rights: -€14,600
- Deferred charges and accrued income +€4,791
up €4,791 (+664.7%), from €721 to €5,512
- Debts after one year -€96,000
down €96,000 (-31.1%), from €309,104 to €213,104
- Profit (loss) carried forward -€53,247
down €53,247 (-114.7%), from -€46,422 to -€99,669
- Tax, wage and social debts -€23,865
down €23,865 (-100.0%), from €23,865 to €0
- Accrued charges and deferred income -€9,179
down €9,179 (-100.0%), from €9,179 to €0
- Current portion of long-term debt -€5,225
down €5,225 (-100.0%), from €5,225 to €0
- Financial charges -€61,215
down €61,215 (-93.1%), from €65,740 to €4,525
of which Non-recurring financial charges: -€58,914
- Gross operating margin -€49,041
down €49,041, from €17,045 to -€31,996
- Financial income -€44,604
down €44,604 (-98.4%), from €45,310 to €707
of which Non-recurring financial income: -€44,914
- Taxes -€2,584
down €2,584 (-100.0%), from €2,584 to €0
- Other operating charges -€737
down €737 (-20.6%), from €3,569 to €2,832
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 | €384,054 | €192,664 | -€191,390 | -49.8% |
| Fixed assets | 21/28 | €17,360 | €2,760 | -€14,600 | -84.1% |
| Tangible fixed assets | 22/27 | €17,360 | €2,760 | -€14,600 | -84.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €17,360 | €2,760 | -€14,600 | -84.1% |
| Current assets | 29/58 | €366,694 | €189,904 | -€176,790 | -48.2% |
| Stocks and contracts in progress | 3 | €8,240 | €5,653 | -€2,587 | -31.4% |
| Stocks | 30/36 | €8,240 | €5,653 | -€2,587 | -31.4% |
| Amounts receivable within one year | 40/41 | €75,395 | €17,762 | -€57,632 | -76.4% |
| Trade receivables | 40 | €75,395 | €17,180 | -€58,214 | -77.2% |
| Other amounts receivable | 41 | €0 | €582 | +€582 | |
| Current investments | 50/53 | €211,000 | €135,494 | -€75,505 | -35.8% |
| Cash at bank and in hand | 54/58 | €71,339 | €25,482 | -€45,857 | -64.3% |
| Deferred charges and accrued income | 490/1 | €721 | €5,512 | +€4,791 | +664.7% |
| Total equity and liabilities | 10/49 | €384,054 | €192,664 | -€191,390 | -49.8% |
| Equity | 10/15 | €26,749 | -€26,498 | -€53,247 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €11,171 | €11,171 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €4,971 | €4,971 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,422 | -€99,669 | -€53,247 | -114.7% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €357,306 | €219,163 | -€138,143 | -38.7% |
| Amounts payable after more than one year | 17 | €309,104 | €213,104 | -€96,000 | -31.1% |
| Financial debts | 170/4 | €309,104 | €213,104 | -€96,000 | -31.1% |
| Amounts payable within one year | 42/48 | €39,022 | €6,059 | -€32,964 | -84.5% |
| Current portion of amounts payable after more than one year | 42 | €5,225 | €0 | -€5,225 | -100.0% |
| Trade debts | 44 | €9,519 | €5,201 | -€4,318 | -45.4% |
| Suppliers | 440/4 | €9,519 | €5,201 | -€4,318 | -45.4% |
| Taxes, remuneration and social security | 45 | €23,865 | €0 | -€23,865 | -100.0% |
| Taxes | 450/3 | €23,865 | €0 | -€23,865 | -100.0% |
| Other amounts payable | 47/48 | €413 | €858 | +€445 | +107.7% |
| Accrued charges and deferred income | 492/3 | €9,179 | €0 | -€9,179 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,600 | €14,600 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €675 | €0 | -€675 | -100.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €3,569 | €2,832 | -€737 | -20.6% |
| Non-recurring operating charges | 66A | €2,122 | €0 | -€2,122 | -100.0% |
| Gross operating margin | 9900 | €17,045 | -€31,996 | -€49,041 | |
| Operating profit (loss) | 9901 | -€3,921 | -€49,429 | -€45,507 | -1160.5% |
| Financial income | 75/76B | €45,310 | €707 | -€44,604 | -98.4% |
| Recurring financial income | 75 | €396 | €707 | +€310 | +78.4% |
| Non-recurring financial income | 76B | €44,914 | €0 | -€44,914 | -100.0% |
| Financial charges | 65/66B | €65,740 | €4,525 | -€61,215 | -93.1% |
| Recurring financial charges | 65 | €6,826 | €4,525 | -€2,301 | -33.7% |
| Non-recurring financial charges | 66B | €58,914 | €0 | -€58,914 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,352 | -€53,247 | -€28,895 | -118.7% |
| Income taxes | 67/77 | €2,584 | €0 | -€2,584 | -100.0% |
| Profit (loss) for the period | 9904 | -€26,935 | -€53,247 | -€26,312 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,935 | -€53,247 | -€26,312 | -97.7% |
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.