JSA Construct: 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.
JSA Construct
Largest movements
- Receivables within one year +€45,751
up €45,751 (+100.5%), from €45,524 to €91,274
of which Trade receivables: +€46,890
- Tangible fixed assets +€16,544
up €16,544 (+178.1%), from €9,289 to €25,833
of which Furniture and vehicles: +€19,544
- Cash +€6,000
new in 2025: €6,000
mainly Trade debts (+€49,016) and Debts after one year (+€16,858)
- Deferred charges and accrued income +€4,156
up €4,156 (+806.4%), from €515 to €4,672
- Trade debts +€49,016
up €49,016 (+453.9%), from €10,800 to €59,815
- Debts after one year +€16,858
new in 2025: €16,858
- Current portion of long-term debt -€14,379
down €14,379 (-81.5%), from €17,646 to €3,267
- Profit (loss) carried forward +€13,634
up €13,634 (+46.0%), from -€29,653 to -€16,019
- Short-term financial debts +€13,364
up €13,364 (+38.4%), from €34,763 to €48,128
- Gross operating margin +€67,096
up €67,096, from -€31,541 to €35,554
- Financial charges +€2,648
up €2,648 (+56.1%), from €4,723 to €7,371
- Staff costs -€1,914
down €1,914 (-20.3%), from €9,442 to €7,528
- Depreciation +€1,209
up €1,209 (+32.4%), from €3,735 to €4,943
- Other operating charges +€408
up €408 (+24.0%), from €1,701 to €2,109
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 | €56,235 | €128,687 | +€72,451 | +128.8% |
| Fixed assets | 21/28 | €10,196 | €26,740 | +€16,544 | +162.3% |
| Tangible fixed assets | 22/27 | €9,289 | €25,833 | +€16,544 | +178.1% |
| Plant, machinery and equipment | 23 | €8,458 | €5,458 | -€3,000 | -35.5% |
| Furniture and vehicles | 24 | €831 | €20,375 | +€19,544 | +2351.5% |
| Financial fixed assets | 28 | €908 | €908 | = | 0.0% |
| Current assets | 29/58 | €46,039 | €101,946 | +€55,907 | +121.4% |
| Amounts receivable within one year | 40/41 | €45,524 | €91,274 | +€45,751 | +100.5% |
| Trade receivables | 40 | €30,590 | €77,480 | +€46,890 | +153.3% |
| Other amounts receivable | 41 | €14,934 | €13,795 | -€1,139 | -7.6% |
| Cash at bank and in hand | 54/58 | - | €6,000 | +€6,000 | |
| Deferred charges and accrued income | 490/1 | €515 | €4,672 | +€4,156 | +806.4% |
| Total equity and liabilities | 10/49 | €56,235 | €128,687 | +€72,451 | +128.8% |
| Equity | 10/15 | -€19,653 | -€6,019 | +€13,634 | +69.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,653 | -€16,019 | +€13,634 | +46.0% |
| Amounts payable | 17/49 | €75,889 | €134,706 | +€58,817 | +77.5% |
| Amounts payable after more than one year | 17 | - | €16,858 | +€16,858 | |
| Financial debts | 170/4 | - | €16,858 | +€16,858 | |
| Amounts payable within one year | 42/48 | €74,830 | €117,848 | +€43,018 | +57.5% |
| Current portion of amounts payable after more than one year | 42 | €17,646 | €3,267 | -€14,379 | -81.5% |
| Financial debts | 43 | €34,763 | €48,128 | +€13,364 | +38.4% |
| Credit institutions | 430/8 | €34,763 | €48,128 | +€13,364 | +38.4% |
| Trade debts | 44 | €10,800 | €59,815 | +€49,016 | +453.9% |
| Suppliers | 440/4 | €10,800 | €59,815 | +€49,016 | +453.9% |
| Taxes, remuneration and social security | 45 | €2,665 | €448 | -€2,217 | -83.2% |
| Taxes | 450/3 | €1,988 | - | -€1,988 | |
| Remuneration and social security | 454/9 | €677 | €448 | -€228 | -33.7% |
| Other amounts payable | 47/48 | €8,956 | €6,190 | -€2,766 | -30.9% |
| Accrued charges and deferred income | 492/3 | €1,058 | - | -€1,058 | |
| Non-recurring operating income | 76A | - | €579 | +€579 | |
| Remuneration, social security and pensions | 62 | €9,442 | €7,528 | -€1,914 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,735 | €4,943 | +€1,209 | +32.4% |
| Other operating charges | 640/8 | €1,701 | €2,109 | +€408 | +24.0% |
| Non-recurring operating charges | 66A | €5,615 | - | -€5,615 | |
| Gross operating margin | 9900 | -€31,541 | €35,554 | +€67,096 | |
| Operating profit (loss) | 9901 | -€52,034 | €20,974 | +€73,008 | |
| Financial income | 75/76B | €116 | €31 | -€85 | -72.9% |
| Recurring financial income | 75 | €116 | €31 | -€85 | -72.9% |
| Financial charges | 65/66B | €4,723 | €7,371 | +€2,648 | +56.1% |
| Recurring financial charges | 65 | €4,723 | €7,371 | +€2,648 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | -€56,641 | €13,634 | +€70,275 | |
| Profit (loss) for the period | 9904 | -€56,641 | €13,634 | +€70,275 | |
| Profit (loss) for the period to be appropriated | 9905 | -€56,641 | €13,634 | +€70,275 |
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 8 October 2026 via checked.be.