JS HOLDING: 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.
JS HOLDING
Largest movements
- Current investments -€322,547
down €322,547 (-39.3%), from €819,728 to €497,181
- Tangible fixed assets -€170,666
down €170,666 (-6.3%), from €2.7m to €2.6m
of which Land and buildings: -€137,489
- Cash +€72,149
up €72,149 (+163.9%), from €44,030 to €116,178
mainly Current investments (+€322,547) and Depreciation (+€170,666)
- Receivables within one year -€59,470
down €59,470 (-94.5%), from €62,926 to €3,456
of which Trade receivables: -€39,816
- Debts after one year -€444,913
down €444,913 (-21.6%), from €2.1m to €1.6m
of which Other amounts payable: -€280,906
- Provisions -€57,848
down €57,848 (-29.9%), from €193,758 to €135,910
of which Provisions for liabilities and charges: -€50,000
- Gross operating margin +€48,114
up €48,114 (+21.2%), from €226,903 to €275,016
- Taxes +€18,470
up €18,470 (+190.3%), from €9,704 to €28,175
- Financial charges -€18,173
down €18,173 (-34.4%), from €52,792 to €34,619
- Other operating charges +€13,462
up €13,462 (+36.3%), from €37,078 to €50,540
- Financial income -€12,286
down €12,286 (-50.0%), from €24,585 to €12,299
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 | €3,660,951 | €3,179,607 | -€481,344 | -13.1% |
| Fixed assets | 21/28 | €2,728,762 | €2,558,346 | -€170,416 | -6.2% |
| Tangible fixed assets | 22/27 | €2,728,762 | €2,558,096 | -€170,666 | -6.3% |
| Land and buildings | 22 | €2,603,144 | €2,465,655 | -€137,489 | -5.3% |
| Plant, machinery and equipment | 23 | €31,081 | €26,904 | -€4,177 | -13.4% |
| Furniture and vehicles | 24 | €94,537 | €65,538 | -€28,999 | -30.7% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €932,190 | €621,261 | -€310,928 | -33.4% |
| Amounts receivable within one year | 40/41 | €62,926 | €3,456 | -€59,470 | -94.5% |
| Trade receivables | 40 | €39,816 | €0 | -€39,816 | -100.0% |
| Other amounts receivable | 41 | €23,110 | €3,456 | -€19,654 | -85.0% |
| Current investments | 50/53 | €819,728 | €497,181 | -€322,547 | -39.3% |
| Cash at bank and in hand | 54/58 | €44,030 | €116,178 | +€72,149 | +163.9% |
| Deferred charges and accrued income | 490/1 | €5,506 | €4,445 | -€1,060 | -19.3% |
| Total equity and liabilities | 10/49 | €3,660,951 | €3,179,607 | -€481,344 | -13.1% |
| Equity | 10/15 | €1,171,623 | €1,197,948 | +€26,326 | +2.2% |
| Contributions | 10/11 | €499,983 | €499,983 | = | 0.0% |
| Reserves | 13 | €637,075 | €663,583 | +€26,508 | +4.2% |
| Tax-exempt reserves | 132 | €431,274 | €407,730 | -€23,545 | -5.5% |
| Distributable reserves | 133 | €205,801 | €255,854 | +€50,053 | +24.3% |
| Investment grants | 15 | €34,564 | €34,382 | -€182 | -0.5% |
| Provisions and deferred taxes | 16 | €193,758 | €135,910 | -€57,848 | -29.9% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €0 | -€50,000 | -100.0% |
| Other liabilities and charges | 164/5 | €50,000 | €0 | -€50,000 | -100.0% |
| Deferred taxes | 168 | €143,758 | €135,910 | -€7,848 | -5.5% |
| Amounts payable | 17/49 | €2,295,571 | €1,845,749 | -€449,821 | -19.6% |
| Amounts payable after more than one year | 17 | €2,056,510 | €1,611,598 | -€444,913 | -21.6% |
| Financial debts | 170/4 | €1,723,842 | €1,559,835 | -€164,007 | -9.5% |
| Other amounts payable | 178/9 | €332,668 | €51,762 | -€280,906 | -84.4% |
| Amounts payable within one year | 42/48 | €211,812 | €206,048 | -€5,764 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €160,697 | €164,007 | +€3,310 | +2.1% |
| Trade debts | 44 | €23,542 | €10,164 | -€13,378 | -56.8% |
| Suppliers | 440/4 | €23,542 | €10,164 | -€13,378 | -56.8% |
| Taxes, remuneration and social security | 45 | €12,318 | €18,077 | +€5,759 | +46.8% |
| Taxes | 450/3 | €12,318 | €18,077 | +€5,759 | +46.8% |
| Other amounts payable | 47/48 | €15,255 | €13,800 | -€1,455 | -9.5% |
| Accrued charges and deferred income | 492/3 | €27,248 | €28,104 | +€855 | +3.1% |
| Non-recurring operating income | 76A | - | €34,656 | +€34,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,371 | €170,666 | +€7,295 | +4.5% |
| Other operating charges | 640/8 | €37,078 | €50,540 | +€13,462 | +36.3% |
| Non-recurring operating charges | 66A | - | -€15,344 | -€15,344 | |
| Gross operating margin | 9900 | €226,903 | €275,016 | +€48,114 | +21.2% |
| Operating profit (loss) | 9901 | €26,454 | €69,155 | +€42,701 | +161.4% |
| Financial income | 75/76B | €24,585 | €12,299 | -€12,286 | -50.0% |
| Recurring financial income | 75 | €24,585 | €12,299 | -€12,286 | -50.0% |
| Financial charges | 65/66B | €52,792 | €34,619 | -€18,173 | -34.4% |
| Recurring financial charges | 65 | €52,792 | €34,619 | -€18,173 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,753 | €46,834 | +€48,587 | |
| Transfer from deferred taxes | 780 | €31,393 | €31,393 | = | 0.0% |
| Income taxes | 67/77 | €9,704 | €28,175 | +€18,470 | +190.3% |
| Profit (loss) for the period | 9904 | €19,936 | €50,053 | +€30,117 | +151.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,936 | €50,053 | +€30,117 | +151.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.