JSCARS: 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.
JSCARS
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+352.9%), from €484,372 to €2.2m
of which Trade receivables: +€1.7m
- Current investments +€700,000
new in 2024: €700,000
- Cash +€218,185
up €218,185 (+48.4%), from €451,186 to €669,371
mainly Trade debts (+€1.7m) and Short-term financial debts (+€1.6m)
- Tangible fixed assets +€103,543
up €103,543 (+45.2%), from €228,954 to €332,497
of which Other tangible fixed assets: +€105,314
- Other debts -€2.1m
no longer reported in 2024 (was €2.1m)
- Trade debts +€1.7m
up €1.7m (+549.8%), from €313,429 to €2.0m
- Short-term financial debts +€1.6m
up €1.6m (+3586.7%), from €44,078 to €1.6m
- Debts after one year +€1.5m
up €1.5m (+399.4%), from €385,969 to €1.9m
of which Other amounts payable: +€1.6m
- Advances received -€94,164
no longer reported in 2024 (was €94,164)
- Staff costs +€129,259
up €129,259 (+63.2%), from €204,529 to €333,789
- Financial charges +€49,625
up €49,625 (+47.7%), from €103,957 to €153,582
- Gross operating margin +€36,223
up €36,223 (+6.5%), from €560,855 to €597,078
- Taxes -€28,793
down €28,793 (-54.9%), from €52,450 to €23,658
- Depreciation +€16,379
up €16,379 (+48.8%), from €33,539 to €49,917
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,082,744 | €6,741,905 | +€2.7m | +65.1% |
| Formation expenses | 20 | €27,350 | €18,650 | -€8,700 | -31.8% |
| Fixed assets | 21/28 | €228,954 | €332,497 | +€103,543 | +45.2% |
| Tangible fixed assets | 22/27 | €228,954 | €332,497 | +€103,543 | +45.2% |
| Plant, machinery and equipment | 23 | €73,202 | €60,501 | -€12,701 | -17.4% |
| Furniture and vehicles | 24 | €5,668 | €2,722 | -€2,946 | -52.0% |
| Other tangible fixed assets | 26 | €150,084 | €255,397 | +€105,314 | +70.2% |
| Assets under construction and advance payments | 27 | - | €13,876 | +€13,876 | |
| Current assets | 29/58 | €3,826,439 | €6,390,759 | +€2.6m | +67.0% |
| Stocks and contracts in progress | 3 | €2,861,892 | €2,824,419 | -€37,473 | -1.3% |
| Stocks | 30/36 | €2,861,892 | €2,824,419 | -€37,473 | -1.3% |
| Amounts receivable within one year | 40/41 | €484,372 | €2,193,815 | +€1.7m | +352.9% |
| Trade receivables | 40 | €442,464 | €2,131,424 | +€1.7m | +381.7% |
| Other amounts receivable | 41 | €41,907 | €62,391 | +€20,483 | +48.9% |
| Current investments | 50/53 | - | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €451,186 | €669,371 | +€218,185 | +48.4% |
| Deferred charges and accrued income | 490/1 | €28,990 | €3,154 | -€25,837 | -89.1% |
| Total equity and liabilities | 10/49 | €4,082,744 | €6,741,905 | +€2.7m | +65.1% |
| Equity | 10/15 | €950,714 | €973,606 | +€22,891 | +2.4% |
| Contributions | 10/11 | €301,400 | €301,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €649,314 | €672,206 | +€22,891 | +3.5% |
| Amounts payable | 17/49 | €3,132,029 | €5,768,299 | +€2.6m | +84.2% |
| Amounts payable after more than one year | 17 | €385,969 | €1,927,605 | +€1.5m | +399.4% |
| Financial debts | 170/4 | €385,969 | €348,686 | -€37,283 | -9.7% |
| Other amounts payable | 178/9 | - | €1,578,919 | +€1.6m | |
| Amounts payable within one year | 42/48 | €2,728,854 | €3,840,694 | +€1.1m | +40.7% |
| Current portion of amounts payable after more than one year | 42 | €111,088 | €135,412 | +€24,324 | +21.9% |
| Financial debts | 43 | €44,078 | €1,625,000 | +€1.6m | +3586.7% |
| Credit institutions | 430/8 | €44,078 | €1,625,000 | +€1.6m | +3586.7% |
| Trade debts | 44 | €313,429 | €2,036,505 | +€1.7m | +549.8% |
| Suppliers | 440/4 | €313,429 | €2,036,505 | +€1.7m | +549.8% |
| Advances received on contracts in progress | 46 | €94,164 | - | -€94,164 | |
| Taxes, remuneration and social security | 45 | €37,177 | €43,777 | +€6,601 | +17.8% |
| Taxes | 450/3 | €2,342 | - | -€2,342 | |
| Remuneration and social security | 454/9 | €34,835 | €43,777 | +€8,942 | +25.7% |
| Other amounts payable | 47/48 | €2,128,919 | - | -€2.1m | |
| Accrued charges and deferred income | 492/3 | €17,206 | - | -€17,206 | |
| Non-recurring operating income | 76A | €4,515 | €78,987 | +€74,472 | +1649.4% |
| Remuneration, social security and pensions | 62 | €204,529 | €333,789 | +€129,259 | +63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,539 | €49,917 | +€16,379 | +48.8% |
| Other operating charges | 640/8 | €3,403 | €15,310 | +€11,907 | +349.9% |
| Non-recurring operating charges | 66A | €8,572 | €3,881 | -€4,690 | -54.7% |
| Gross operating margin | 9900 | €560,855 | €597,078 | +€36,223 | +6.5% |
| Operating profit (loss) | 9901 | €310,812 | €194,180 | -€116,632 | -37.5% |
| Financial income | 75/76B | - | €5,951 | +€5,951 | |
| Recurring financial income | 75 | - | €5,951 | +€5,951 | |
| Financial charges | 65/66B | €103,957 | €153,582 | +€49,625 | +47.7% |
| Recurring financial charges | 65 | €103,957 | €153,582 | +€49,625 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | €206,855 | €46,549 | -€160,306 | -77.5% |
| Income taxes | 67/77 | €52,450 | €23,658 | -€28,793 | -54.9% |
| Profit (loss) for the period | 9904 | €154,405 | €22,891 | -€131,513 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €154,405 | €22,891 | -€131,513 | -85.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.