JS&G: what changed
Two financial 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.
JS&G
Largest movements
- Receivables within one year -€147,594
down €147,594 (-34.1%), from €432,786 to €285,192
of which Other amounts receivable: -€147,317
- Tangible fixed assets -€111,636
down €111,636 (-6.3%), from €1.8m to €1.7m
of which Land and buildings: -€111,636
- Debts after one year -€146,326
down €146,326 (-14.0%), from €1.0m to €902,001
- Other debts -€145,364
down €145,364 (-18.0%), from €806,881 to €661,517
- Profit (loss) carried forward +€35,096
up €35,096 (+24.9%), from €141,034 to €176,129
- Current portion of long-term debt -€27,283
down €27,283 (-15.2%), from €179,962 to €152,679
- Gross operating margin -€27,521
down €27,521 (-10.9%), from €251,493 to €223,972
- Other operating charges -€14,680
down €14,680 (-41.6%), from €35,280 to €20,599
- Staff costs -€9,448
down €9,448 (-35.2%), from €26,847 to €17,399
- Financial charges -€4,510
down €4,510 (-14.6%), from €30,976 to €26,466
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 | €2,216,312 | €1,945,013 | -€271,299 | -12.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,769,162 | €1,657,525 | -€111,636 | -6.3% |
| Tangible fixed assets | 22/27 | €1,769,162 | €1,657,525 | -€111,636 | -6.3% |
| Land and buildings | 22 | €1,769,162 | €1,657,525 | -€111,636 | -6.3% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Current assets | 29/58 | €447,150 | €287,488 | -€159,662 | -35.7% |
| Amounts receivable within one year | 40/41 | €432,786 | €285,192 | -€147,594 | -34.1% |
| Trade receivables | 40 | €278 | - | -€278 | |
| Other amounts receivable | 41 | €432,509 | €285,192 | -€147,317 | -34.1% |
| Cash at bank and in hand | 54/58 | €14,364 | €2,296 | -€12,068 | -84.0% |
| Total equity and liabilities | 10/49 | €2,216,312 | €1,945,013 | -€271,299 | -12.2% |
| Equity | 10/15 | €147,234 | €182,329 | +€35,096 | +23.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,034 | €176,129 | +€35,096 | +24.9% |
| Amounts payable | 17/49 | €2,069,078 | €1,762,684 | -€306,394 | -14.8% |
| Amounts payable after more than one year | 17 | €1,048,328 | €902,001 | -€146,326 | -14.0% |
| Financial debts | 170/4 | €1,048,328 | €902,001 | -€146,326 | -14.0% |
| Amounts payable within one year | 42/48 | €1,020,751 | €860,683 | -€160,068 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €179,962 | €152,679 | -€27,283 | -15.2% |
| Financial debts | 43 | - | €9,902 | +€9,902 | |
| Credit institutions | 430/8 | - | €9,902 | +€9,902 | |
| Trade debts | 44 | €9,442 | €10,759 | +€1,317 | +13.9% |
| Suppliers | 440/4 | €9,442 | €10,759 | +€1,317 | +13.9% |
| Taxes, remuneration and social security | 45 | €24,465 | €25,826 | +€1,361 | +5.6% |
| Taxes | 450/3 | €21,371 | €12,776 | -€8,596 | -40.2% |
| Remuneration and social security | 454/9 | €3,094 | €13,051 | +€9,957 | +321.8% |
| Other amounts payable | 47/48 | €806,881 | €661,517 | -€145,364 | -18.0% |
| Remuneration, social security and pensions | 62 | €26,847 | €17,399 | -€9,448 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,636 | €111,636 | = | 0.0% |
| Other operating charges | 640/8 | €35,280 | €20,599 | -€14,680 | -41.6% |
| Gross operating margin | 9900 | €251,493 | €223,972 | -€27,521 | -10.9% |
| Operating profit (loss) | 9901 | €77,730 | €74,337 | -€3,393 | -4.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -85.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -85.7% |
| Financial charges | 65/66B | €30,976 | €26,466 | -€4,510 | -14.6% |
| Recurring financial charges | 65 | €30,976 | €26,466 | -€4,510 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €46,754 | €47,871 | +€1,117 | +2.4% |
| Income taxes | 67/77 | €12,217 | €12,776 | +€558 | +4.6% |
| Profit (loss) for the period | 9904 | €34,537 | €35,096 | +€558 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,537 | €35,096 | +€558 | +1.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.