JSA ACADEMY: 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.
JSA ACADEMY
Largest movements
- Tangible fixed assets -€4,238
down €4,238 (-29.5%), from €14,376 to €10,138
of which Plant, machinery and equipment: -€3,806
- Financial fixed assets -€3,300
down €3,300 (-45.8%), from €7,210 to €3,910
- Receivables within one year +€2,713
up €2,713 (+21.6%), from €12,550 to €15,263
of which Trade receivables: +€2,734
- Cash +€967
up €967 (+3,610%), from €27 to €994
mainly Tax, wage and social debts (+€5,956) and Depreciation (+€4,238)
- Trade debts -€10,286
down €10,286 (-29.3%), from €35,100 to €24,813
- Tax, wage and social debts +€5,956
up €5,956 (+10.2%), from €58,682 to €64,638
of which Remuneration and social security: +€14,818
- Profit (loss) carried forward +€3,734
up €3,734 (+3.2%), from -€116,600 to -€112,865
- Other debts -€3,261
down €3,261 (-8.5%), from €38,380 to €35,119
- Gross operating margin +€20,187
up €20,187 (+58.9%), from €34,295 to €54,482
- Staff costs +€5,414
up €5,414 (+14.5%), from €37,225 to €42,639
- Other operating charges -€2,160
down €2,160 (-92.3%), from €2,340 to €180
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.
Derived cash bridge
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 | €34,162 | €30,305 | -€3,857 | -11.3% |
| Fixed assets | 21/28 | €21,586 | €14,048 | -€7,538 | -34.9% |
| Tangible fixed assets | 22/27 | €14,376 | €10,138 | -€4,238 | -29.5% |
| Plant, machinery and equipment | 23 | €12,724 | €8,918 | -€3,806 | -29.9% |
| Furniture and vehicles | 24 | €1,651 | €1,220 | -€431 | -26.1% |
| Financial fixed assets | 28 | €7,210 | €3,910 | -€3,300 | -45.8% |
| Current assets | 29/58 | €12,577 | €16,257 | +€3,680 | +29.3% |
| Amounts receivable within one year | 40/41 | €12,550 | €15,263 | +€2,713 | +21.6% |
| Trade receivables | 40 | €12,298 | €15,032 | +€2,734 | +22.2% |
| Other amounts receivable | 41 | €252 | €231 | -€21 | -8.3% |
| Cash at bank and in hand | 54/58 | €27 | €994 | +€967 | +3,610% |
| Total equity and liabilities | 10/49 | €34,162 | €30,305 | -€3,857 | -11.3% |
| Equity | 10/15 | -€98,000 | -€94,265 | +€3,734 | +3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,600 | -€112,865 | +€3,734 | +3.2% |
| Amounts payable | 17/49 | €132,162 | €124,570 | -€7,592 | -5.7% |
| Amounts payable within one year | 42/48 | €132,162 | €124,570 | -€7,592 | -5.7% |
| Trade debts | 44 | €35,100 | €24,813 | -€10,286 | -29.3% |
| Suppliers | 440/4 | €35,100 | €24,813 | -€10,286 | -29.3% |
| Taxes, remuneration and social security | 45 | €58,682 | €64,638 | +€5,956 | +10.2% |
| Taxes | 450/3 | €12,592 | €3,730 | -€8,862 | -70.4% |
| Remuneration and social security | 454/9 | €46,090 | €60,908 | +€14,818 | +32.2% |
| Other amounts payable | 47/48 | €38,380 | €35,119 | -€3,261 | -8.5% |
| Remuneration, social security and pensions | 62 | €37,225 | €42,639 | +€5,414 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,172 | €4,238 | +€65 | +1.6% |
| Other operating charges | 640/8 | €2,340 | €180 | -€2,160 | -92.3% |
| Non-recurring operating charges | 66A | - | €3,500 | +€3,500 | |
| Gross operating margin | 9900 | €34,295 | €54,482 | +€20,187 | +58.9% |
| Operating profit (loss) | 9901 | -€9,442 | €3,926 | +€13,368 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €324 | €192 | -€132 | -40.9% |
| Recurring financial charges | 65 | €226 | €192 | -€34 | -15.2% |
| Non-recurring financial charges | 66B | €98 | - | -€98 | |
| Profit (loss) for the period before taxes | 9903 | -€9,765 | €3,734 | +€13,499 | |
| Profit (loss) for the period | 9904 | -€9,765 | €3,734 | +€13,499 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,765 | €3,734 | +€13,499 |
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 25 October 2026 via checked.be.